World Liberty Financial: Trump Family Will Pocket 75% of Crypto Revenue, Hold No Legal Responsibility
- An official World Liberty Financial document mentions how the Trump family will receive 22.5B of the project's crypto tokensand 75% of net protocol revenues.
- Also raising concerns is the paper highlighting the platform's exclusion of US investors and the Trump family's lack of legal accountability.
- Kamala Harris is also being scrutinized in the US crypto-political arena - for focusing on crypto regulations that apply to black men only.
Donald Trump's family-run crypto venture, World Liberty Financial, recently released a 13-page document that spotlights its goals and token allocation.
The World Liberty Gold Paper' reveals that the Trump clan will receive 22.5B of the project's non-transferrable governance tokens ($WLFI) and 75% of the net protocol revenues.
Trump and his clan aren't the only ones in the crypto-political domain facing opposition.
The Trump Clan's Possible $337.5M $WLFI WindfallDonald Trump claims that World Liberty Financial's ultimate aim is to challenge big banks and financial elitesby giving users more financial freedom.
However, investors and Trump supporters are raising their eyebrows at the platform's latest paper.
It highlights that the Trump family is set to receive 22.5B $WLFI, meaning they'll profit a hefty $337.5M from the project (assuming a token price of 1.5 cents), which has raised scam accusations.
Intensifying concerns are the vagueness of the token's allocations and the fact that they're subject to change.
Given these factors, since launching last Tuesday, only 917.80M $WLFI (worth $137K) of the 20B currently available has been sold.
$WLFI allows buyers to vote on matters surrounding the platform's protocol. However, the lack of demand for the coin shows that few investors (or Trump supporters) care about the platform's sustainability.Moreover, the newly released Gold Paper clarifies thatneither Trump nor his family holds any legal responsibilities concerning $WLFI or World Liberty Financial.
Another red flag is that, despite Trump hoping to reclaim the US presidency in just 15 days (on November 5), $WLFI coins are not available to US citizens. They are not registered with an American authority.
Harris Criticized for Bigoted Crypto RegulationsTrump's not the only one being criticized in the US crypto-political arena.Last week, his opponent - Kamala Harris - announced she'd deliver a crypto regulatory framework for black men if she wins the presidential election.
Her announcement was met with mixed reactions. Some appreciate her crypto openness following Trump's steadfast Web3 commitment. Meanwhile, others oppose her focus on black men only.
Likely aware of Harris's recent proposal, JD Vance (Trump's VP) recently pushed back, suggesting that everyone - whether black or white - wants the same thing.
Trump & Harris' Crypto Stances Self-ServeKamala Harris: Black men need handouts, crypto, and pot
JD Vance: Black men want the same things everybody else wants pic.twitter.com/0fPLMRYYEo
- Kevin McMahon (@Kevin__McMahon) October 15, 2024
The World Liberty Gold Paperraises concerns about intent and transparencyregarding the Trump family's crypto platform and its native token.
The significant chunk of $WLFI and net revenue being dedicated to the Trump clan suggests a conflict of interest, especially considering their lack of legal accountability.
Moreover, the shortage of $WLFI sales and US restrictions cloud the project's goal to democratize financial freedom in America.
Each of these issues, coupled with Kamala Harris' biased take on crypto regulations, addresses the need for fairer rules in the US crypto market - ones that don't self-serve.
References- Donald Trump's World Liberty Financial Document (World Liberty Gold Paper)
- Donald Trump's Official Twitter Account (X)
- The Official World Liberty Financial Website (World Liberty Financial)
- Kamala Harris Will Delivery for Black Men (Kamala Harris)
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