The former president's new crypto project is a lending and lending platform, according to CoinDesk. A VC collective asked “how to stop the launch of World Liberty Coin”.
For weeks, crypto has been in the dark about the details of former President Donald Trump's upcoming DeFi project.
On Tuesday, a CoinDesk Report World has shed light on Liberty Financial, which, according to the news agency, promises to be a lending and lending platform.
The project appears to mirror Dow Finance, more recently Hacked DeFi protocol.
Part of World Liberty Financial's team includes the former president's 18-year-old son Barron Trump — summaries in the project's white paper describe him as the platform's “DeFi visionary.”
“Going head-to-head with Trump is not on my list for 2024, but there you go” wrote that Michael Bentley is the co-founder and CEO of Euler Labs, which writes the code for the DeFi lending platform.
Adam Cochrane, a crypto investor, was less tactful.
“Some parts of this story about the Trump Defy Project are absolutely boring,” he said. wrote thatAdding smiling emojis.
New features on World Liberty Financial come as Trump's campaign continues to seek support from the crypto industry.
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Trump spoke at Bitcoin 2024 in Nashville, Tennessee in July, and in August, he Announced He aims to make the US the “crypto capital of the planet”.
He has yet to provide details of that plan.
A hack job
Nick Carter, founding partner of Castle Island Ventures and a vocal Trump supporter, was less than pleased with the report.
“Is there anything we as crypto Twitter can collectively do to stop the World Liberty Coin launch?” He is asked In X, a reference to the yet-to-be-launched cryptocurrency attached to Trump's DeFi project. “I think it's going to really hurt Trump's election chances, especially if it's hacked.”
In an industry back-and-forth over World Liberty Financial, the former president's daughter-in-law Laura Trump and his young daughter Tiffany Trump appeared to be victims of the hack.
Both of their X accounts promoted fake versions of Trump's crypto project.
“Unable to secure Twitter accounts,” wrote that Carter added, “But I'm sure they can protect the (already hacked) DeFi protocol from hacks.”
A spokesman for World Liberty Financial did not immediately respond to a request for comment.
Ben Weiss is the Dubai correspondent News. Got a tip? Email him [email protected].
