• Donald Trump announced the launch date of September 16 for his crypto project World Liberty Financial during a live video stream.
• World Liberty Financial will be built on the Aave DeFi platform and Ethereum blockchain, centering around a credit account system.
• Trump has embraced the crypto community during his bid for re-election after previously holding a negative stance, even speaking at the Bitcoin 2024 conference.
Former president Donald Trump has announced the official launch date for his crypto project, World Liberty Financial. The announcement comes after months of speculation around the project.
Launch event set for September 16
Trump made the announcement in a video posted to his Truth Social account on Thursday afternoon.
“Join me live on Twitter Spaces at 8 pm this September 16 for the launch of World Liberty Financial,” Trump said in the video. “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.”
Project will utilize decentralized finance
Donald Trump Jr. and Eric Trump first teased the crypto project back in early August.
A whitepaper workshopped in early September outlined plans for World Liberty Financial to leverage decentralized finance protocols like Aave and the Ethereum blockchain. The project is expected to center around a credit account system.
Trump embraces crypto in bid for reelection
In his 2024 reelection bid, Trump has notably embraced the crypto community after previously holding a negative stance.
Earlier this summer, he spoke at the Bitcoin 2024 conference and said he would fire SEC Chair Gary Gensler if elected again. He also said he would halt any potential sales of the US government’s bitcoin reserves.
Security a top concern
Earlier this month, Dolomite co-founder Corey Caplan was named an advisor for World Liberty Financial.
The project said it is prioritizing security and driving stablecoin adoption. They are working with leading security experts and auditing their codebase.
Criticism from lawmakers
Some Democratic lawmakers have criticized the Trump-linked crypto project in recent days.
House Rep. Maxine Waters said the project poses risks around “hacks, scams, unequal information and conflicts of interest that can harm consumers and investors.”
Launch comes amid Trump’s embrace of crypto
The September 16th launch event marks a major milestone for World Liberty Financial after months of speculation.
With embracing crypto a notable shift from his previous negative stance, the project represents Trump’s growing efforts to court the crypto community in his bid to return to the White House in 2024.
