Trump’s World Liberty Opens Signups for Accredited Investors – Are Regular Americans Left Behind?
- World Liberty Financial crypto borrowing and lending platform launched KYC verification for token sale whitelisting.
- Only high-net-worth US nationals can join the sale, yet the requirement doesn't apply to foreign investors.
- Ethereum co-founders doubt the current political focus on crypto will benefit the industry, but market performance suggests otherwise.
Donald Trump's World Liberty Financial crypto project opened signups on September 30. However,not all Americans are eligible to join.
World Liberty Financial tweeted that it plans to make the platform accessible to everyone in the future but didn't specify the time frame.
Let's explore Trump's latest venture and how it ties with his campaign.
Financial Freedom for Everyone? AlmostAccording to Trump's recent post, World Liberty Financial is a decentralized finance (DeFi) protocol that will help make the US the crypto capital of the world.'
Eric Trump first teased the project in August, saying it's digital real estate' and collateral anyone can get access to instantly.'
It didn't get any less vague since Donald Trump officially announced the project earlier this month. In Trump's typical fashion, sonorous statements prevailed over factual details.
We know World Liberty Financial will have a governance token, $WLFI, and be a borrowing and lending platform.
Yesterday, the project launched the $WLFI token sale whitelist for accredited investors. Only US nationals with a net worth of $1M or an annual income of $200K (for at least two consecutive years) can pass the KYC verification.
The requirement doesn't apply to foreign individuals, whether because Trump tries to preserve the American dream of an elite society or because he realizes only residents of Monaco could meet it.
World Liberty Financial X account explained the real reason is outdated US regulations but reassured followers it would bring financial freedom to everyone' someday.
From Foe to AllyTrump's path from crypto critic to advocate took five years. The internet remembers everything, and Trump's words about the dollar being the only real currency in the US aren't an exception.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....
We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!Donald Trump
Changing one's opinion is natural. However, Trump's recent pivot to crypto president' raised questions among voters and industry players.
Ethereum co-founder Vitalik Buterin voiced concerns over the political focus on digital assets, arguing that they defy the core values of Web3.
While Buterin's post centered around regulations, Charles Hoskinson expressed doubts about Trump's entry into DeFi. Hoskinson fears it would turn crypto into a partisan issue and polarize the industry.
A question lingers - how genuine is both candidates' support for crypto? And will it persist after the election?
Closing RemarksTrump and Harris are actively trying tosecure the crypto crowd's votes before the November 5 election.
Both candidates expressed their positive stance on blockchain and AI, yet some voters hold valid skepticism.
Regardless of the election outcome's long-term implications, the current race evidently benefits $BTC. On behalf of all crypto investors - keep up the rivalry.
ReferencesClick to expand and view sources- Ethereum co-founder says partisanship will block Trump crypto plans (Financial Times)
- Against choosing your political allegiances based on who is pro-crypto" (Vitalik.eth)
- Donald J. Trump (X)
- WLFI (X)
- Average income around the world (WorldData)
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