Trump's latest crypto initiative, World Liberty Financial, opens whitelist for WLFI token sale, but access is restricted to accredited investors.
Key Takeaways
- Whitelists open for accredited U.S. investors and non-U.S. persons, leaving most Americans out.
- Trump’s shift to a pro-crypto stance as he backs World Liberty Financial’s DeFi platform.
World Liberty Financial (WLFI), a DeFi platform backed by the Trump family, has officially opened KYC verification for its WLFI governance token sale.
1/6 The World Liberty Financial whitelists are now OPEN. Backed by Donald J. Trump, we will onboard the next wave of users into the future of finance. Join the movement here: https://t.co/YLcCq49uac
— WLFI (@worldlibertyfi) September 30, 2024
While non-US persons can sign up without meeting income requirements, most everyday Americans are currently unable to access the platform. The World Liberty Financial whitelist is restricted to accredited US investors, defined by the SEC as those with a net worth of at least $1 million or an annual income of at least $200,000.
The platform, which will offer borrowing and lending services for digital assets on the Ethereum blockchain, has launched its know-your-customer (KYC) verification process for the WLFI governance token sale. However, due to SEC regulations, only accredited investors can participate at this time, excluding many Americans from the initial rollout.
In response to concerns about limited availability to US customers, the project stated the following.
“We plan for all Americans to be able to use this platform in the future, giving everyone access to the tools and opportunities that have been restricted for far too long.”
The WLFI token is a non-transferable governance token, offering holders voting power within the World Liberty Financial ecosystem. The platform has allocated 63% of its tokens for public sale, providing investors with a significant opportunity to engage in its governance model.
Donald Trump’s support for World Liberty Financial marks a significant shift in his stance on digital assets. Once critical of crypto, Trump has now embraced a pro-crypto position, aiming to attract the growing base of Bitcoin and blockchain supporters. Earlier this year, he opposed the SEC’s crackdown on crypto under Chairman Gary Gensler and vowed to have all remaining Bitcoin “minted in the USA.”
After the launch of World Liberty Financial, Trump voiced his enthusiasm for the project, emphasizing its role in his broader crypto-friendly agenda.
“I promised to Make America Great Again, this time with crypto. @WorldLibertyFi is planning to help make America the crypto capital of the world!”
I promised to Make America Great Again, this time with crypto. @WorldLibertyFi is planning to help make America the crypto capital of the world! The whitelist for eligible persons is officially open – this is your chance to be part of this historic moment. Join:…
— Donald J. Trump (@realDonaldTrump) September 30, 2024
