Trump family launches World Liberty Financial cryptocurrency on Sep. 16
- The Trump family is launching a cryptocurrency project called World Liberty Financial on September 16.
- Chase Herro, a controversial figure in the crypto space, is believed to be the true mastermind behind the project.
- Experts are skeptical about the project's legitimacy, viewing it as a potentially opportunistic venture.
On September 16, the Trump family announced the launch of a new cryptocurrency project called World Liberty Financial, which has sparked controversy in both political and financial sectors. The announcement was made via Donald Trump's social media platform, where he expressed a desire to move away from traditional banking systems in favor of cryptocurrency. This marks a significant shift in Trump's previous views on digital currencies. The project is being led by Trump's sons, Eric and Donald Jr., with Barron Trump, at just 18 years old, being designated as the 'chief DeFi visionary.' However, investigations suggest that Chase Herro, a controversial figure in the cryptocurrency space, is the actual mastermind behind the initiative. This raises questions about the project's credibility and the intentions behind it. World Liberty Financial aims to create a decentralized finance (DeFi) platform, as outlined in its whitepaper, which includes plans for a credit account system based on the Aave platform and the Ethereum blockchain. The project also intends to develop dollar-pegged stablecoins to maintain the U.S. dollar's dominance in the financial market. Despite the ambitious goals, experts in the cryptocurrency field have expressed skepticism, labeling the venture as potentially opportunistic and lacking in substance. This announcement follows a previous failed cryptocurrency attempt by Barron Trump, known as DJT coin, which faced significant backlash and ultimately collapsed, further complicating the family's foray into the crypto world.