Donald Trump has introduced a new cryptocurrency venture that has caught the attention of many. While specific details remain limited, the project promises to change the digital finance landscape. This has sparked interest in what is Trump’s crypto coin, who owns it, as well as its connection to Zachary Folkman.
Here are more details about Trump’s crypto coin.
Trump’s crypto coin explained
Donald Trump is preparing to introduce his latest venture into the financial world by launching a cryptocurrency token under the World Liberty Financial (WLFI) project. Set to debut just weeks before the presidential election, WLFI marks Trump’s entrance into the decentralized finance (DeFi) space.
The platform is designed to function as a type of crypto bank. It will allow users to borrow, lend, and invest in various digital assets while cutting out traditional financial intermediaries. Investors who participate in the token sale will also gain voting rights. Consequently, this will give them a say in the platform’s future. (via CNBC)
Trump has actively promoted WLFI, emphasizing its role in making America the “crypto capital of the world.” He described it as a revolutionary step toward reshaping global finance. However, while the project aims to raise $300 million at a $1.5 billion valuation, concrete details, including a white paper or formal business plan, have yet to be released.
Despite the uncertainty surrounding its structure, Trump’s team has positioned the launch as an opportunity to be part of a historic financial movement.
Who owns Trump’s crypto coin?
Donald Trump’s crypto coin is not owned by any single person. However, according to the aforementioned outlet, he and Zachary Folkman are involved.
World Liberty Financial (WLF), Trump’s latest crypto venture, is distinct from his social media company, Trump Media & Technology Group (TMTG), which operates Truth Social. Donald Trump owns around 57% of TMTG’s shares, but his involvement with WLF is less clear-cut.
On WLF’s website, which currently serves as a registration page for those wanting to purchase the coin, there are hints about the financial setup for its founders. One of WLF’s co-founders, Zachary Folkman stated that 20% of WLF’s tokens will be reserved for the founding team. This founding group includes the Trump family, though details about Trump’s specific role remain vague.
