Olga Kharif | (TNS) Bloomberg News
Donald Trump’s World Liberty Financial decentralized finance project has started to sign up users even though it remains unclear what services the crypto platform will offer.
The project backed by the former president is now accepting accredited U.S. investors and non-U.S. persons, according to posts Monday on the social networks X and Telegram. Under U.S. Securities and Exchange Commission guidelines, accredited investors are those who meet certain income or professional criteria such having a net worth in excess of $1 million.
“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,” according to one of the World Liberty Financial postings. A World Liberty spokesperson didn’t immediately response to a request for comment.
Trump and his sons unveiled the platform in an online event two weeks ago. It’s supposed to help with financial security and being able to transact freely, and is billed as part of the decentralized-finance movement, where people trade, lend and borrow digital assets peer-to-peer using automated software. Details of the platform’s capabilities haven’t been provided in social media postings or on its website. No launch date has been set.
World Liberty is just the latest of Trump’s crypto efforts. In August, the former president launched his fourth collection of nonfungible tokens. The Republican presidential nominee has made supporting crypto a part of his platform as he seeks reelection in November.
When clicking a link, users are invited to connect their digital-asset wallets to verify their identity, according to the site. Connecting crypto wallets to unknown websites and services can be risky, with criminals often spoofing sites so they can gain access to digital wallets.
An early white paper, a type of research-based document often used to promote crypto projects, for World Liberty Financial reviewed by Bloomberg News had a disclaimer that said the effort is “not owned, managed, operated or sold” by the Trump family, while noting they may receive compensation.
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