We will have to wait a few more days before we can attend the official launch of World Liberty Financial, the DeFi platform imagined by Donald Trump Jr. and Eric Trump, and supported by their father Donald Trump.
Donald Trump Officially Announces Launch Date of His Sons' Crypto Project
World Liberty Financial, the crypto project led by Donald Trump's sons, will soon see the light of day. In a video posted on X, It was the Republican candidate for the White House himself who announced the long-awaited news.
.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL
— Donald J. Trump (@realDonaldTrump) September 12, 2024
Join me live on Twitter Spaces at 8pm on September 16 for the launch of World Liberty Financial. […] We're embracing the future with crypto and leaving behind slow, outdated big banks.
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It was at the beginning of August that the sons of the former President of the United States, Donald Trump Jr. and Eric Trump, announced the upcoming launch of their crypto project called “World Liberty Financial”without giving more information. Quickly, the crypto community asked questions about this initiative which intrigued more than one.
Some questions were answered when several extracts from a whitepaper were provided to the various stakeholders of the project. have leaked. According to the document, World Liberty Financial will be in the form of of a lending and borrowing service similar to the Dough Finance protocol.
Some observers have also noticed that the Dough Finance code was completely reused during the first tests carried out. This is not very reassuring news in their eyes because the protocol was hacked on July 12. The cyber attackers found a flaw in the transactions on the protocol allowing them to steal $2.1 million from their target.
However, it is likely that the flaw was fixed before the code was copied to World Liberty Financial, or that modifications were even made by the developers of this new project.
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DeFi World Liberty Financial Platform Expected to Be a Lending and Borrowing Service
Earlier this week, U.S. Representative Maxine Waters, a member of the House Financial Services Committee and a Democratic Party member, strongly criticized this crypto project supported by Donald Trump :
If decentralized finance, or DeFi, aims to create greater efficiency and transparency, It may also present increased risks of hacking, scams, information inequalities and conflicts of interest. which may harm consumers and investors. […] We saw this phenomenon play out in the new DeFi venture that Eric Trump and Donald Trump Jr. are planning to launch.
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For their part, Donald Trump's sons have not responded to these remarks. In recent weeks, they have welcomed new members to their work team. Thus, Corey Caplan, co-founder of DeFi platform Dolomite, joined their ranks as an official advisor.
This arrival was followed by a message posted on Telegram in which The project leaders have assured that they are making security a major concern. ” We take no risks. We work with the world's best security experts: Zokyo, Fuzzland, PeckShield, BlockSecTeam and many others, ” could be read in the publication.
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Source: Donald Trump on X
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Surprised by the rise of crypto-assets in the late 2010s, I started to closely follow this sector that fascinates me to the highest degree. When I am not in football stadiums, rugby or handball halls, I work on writing relevant articles about cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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