#StockMarket #Trump #WorldLibertyFinancial ⠀
🔥 World Liberty Financial: digital Trump as a business
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Donnie is launching a family crypto project – a great publicity move 50 days before the election. There is very little information about the details and objectives of the platform, but there could be severe ethical issues if Trump expects to benefit financially from this project.
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The announcement, with Donnie's characteristic pathos, claims World Liberty Financial as a "super important step" in developing DeFi's ideology. Donald Trump Jr. and Eric Trump are expected to manage the business, with Barron, the youngest son, considered the "DeFi visionary" of the project.
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The platform aims to promote using US dollar-linked stablecoins in the DeFi space. The project includes all the essential features, such as DeFi lending, borrowing, trading, digital wallet storage, a credit account system, and mechanisms allowing users to lend or borrow cash. The project offers a "management token"; 70% of WLFI will be allocated to company insiders, and 30% will be provided for redemption in the public domain. A portion of the proceeds from the sale will go to the founding team.
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World Liberty Financial could have a significant impact on the cryptocurrency market. Donald Trump's involvement could attract new users and investors, which could cause volatility and increased trading activity in the DeFi sector.
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There are legitimate concerns that Trump if elected, will actively utilize federal resources to support his personal projects. Even several experts from his campaign team, notably Nick Carter, founding partner of venture capital firm Castle Island Ventures, have asked Donald and his family to abandon the project because it is technologically flawed and creates unnecessary political risk. But it's too late to stop the launch.
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Let's see what happens.
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Profits to y’all!