Just one day after surviving a second assassination attempt, Donald Trump officially launched his long-anticipated cryptocurrency project, World Liberty Financial (WLF), through a live X Space event.<\/p>\n
However, the launch has gotten criticism from the crypto community for its lack of substantive information about the project.<\/p>\n
In a recent video posted on X, Trump revealed<\/a> the launch date for World Liberty Financial, urging the public to join him for a Space on the day.<\/p>\n Following the event, Fox reporter Eleanor Terrett noted<\/a> that many participants were left feeling \u201cdisappointed\u201d and that it provided \u201cno substantive information about the platform.\u201d<\/p>\n Several X users agreed with this, including one who commented<\/a>, \u201cI logged off after over an hour of listening. All I know is it is a DeFi platform.\u201d Another participant said there were no details on the platform, adding<\/a> that Trump and his team bailed out of the discussion just before covering tokenomics.<\/p>\n Crypto entrepreneur Wayne Vaughan said<\/a>, \u201cWe\u2019re over two hours into this Trump crypto call, and they haven\u2019t yet spoken about what the platform does. The listener count has dropped from 150,000 to 47,000. What a wasted opportunity!\u201d<\/p>\n Overall, the general sentiment from the community was one of disappointment with some members describing<\/a> it as \u201ca long sales pitch\u201d and a \u201cmockery of BTC.\u201d<\/p>\n Despite the criticism, the project\u2019s team did reveal some details in a separate interview with Rug Radio. According to them, WLF aims to offer borrowing and lending services for cryptocurrencies on the Ethereum blockchain, similar to existing decentralized finance (DeFi) platforms.<\/p>\n They also claimed it would be more user-friendly than current options and would use a non-transferable governance token, the WLFI. Additionally, the team indicated that the sale of the token will be regulated by the U.S. Securities and Exchange Commission (SEC).<\/p>\n Zak Folkman, operations lead, and Chase Herro, head of data and strategy, announced that \u201cthere have been no pre-sales and no VC, early buy-ins,\u201d emphasizing that the token distribution would be \u201cincredibly fair.\u201d<\/p>\n This follows earlier allegations that 70% of WLFI will be allocated<\/a> to insiders, such as founders, team members, and service providers.<\/p>\n Zak clarified<\/a> this stating that most of the token supply, 62.66%, will be allocated for an upcoming token sale. Proceeds from the sale will fund the project\u2019s treasury reserve and be used to compensate the founders and service providers.<\/p>\n Another 17.33% of the tokens will be set aside for governance and community growth initiatives. The remaining 20% will be distributed among the project\u2019s team, advisors, and affiliates, including the Trump Organization and the Witkoff Group, led by his ally Steve Witkoff.<\/p>\n The post Trump Launches World Liberty Financial on X Spaces, Draws Criticism for Lack of Substance<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Just one day after surviving a second assassination attempt, Donald Trump officially launched his long-anticipated cryptocurrency project, World Liberty Financial (WLF), through a live X Space event. However, the launch has gotten criticism from the crypto community for its lack of substantive information about the project. Community Backlash In a recent video posted on X, […]<\/p>\n","protected":false},"author":0,"featured_media":7623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7622"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7622"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7623"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}WLF Team Clarifies Token Allocation Concerns<\/h2>\n