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The Trump family’s World Liberty Financial launch event has finally confirmed who will be able to buy into the crypto project.
Former president Donald Trump and his family have been promoting their new crypto project over the last few weeks. In a launch event for World Liberty Financial hosted on X on Monday (Sep. 16), the details of who will be able to buy into it and how have at last been confirmed.
The allocation of crypto tokens will give 20% to the founding team, 17% set aside for user rewards, and 63% available for the public to purchase, according to an announcement made by founder Zak Folkman during the launch event.
The project is promising a lot, intending to be a type of crypto banking platform that enables the public to borrow, lend, and invest in cryptocurrencies. It will also have an accompanying token called WLFI.
Despite the unsettling events of yesterday, our X Spaces with Donald Trump will proceed as scheduled. We admire Mr. Trump's courage to continue in the face of adversity. Join us for a pivotal discussion on the future of cryptocurrencyhttps://t.co/MQit7yx3tp
— WLFI (@worldlibertyfi) September 16, 2024
How will the public buy-in to World Financial Liberty Work?
To get in on the ground with that 63%, there won’t be any pre-sales or early buy-ins. The token will be a Reg D token offering, meaning it will follow the SEC’s Regulation D which makes it possible for a company to raise capital without registering their securities before doing so, provided certain conditions are kept to.
This echoes both Trump’s and other crypto leaders’ reservations with SEC Chair Gary Gensler, arguing that he is regulating the crypto industry with perceived hostility.
Speaking ahead of the launch event, Trump spent 40 minutes discussing how he came to the crypto project.
“I think my children opened my eyes more than anything else,” he said, as reported by CNBC. “Crypto is one of those things we have to do. Whether we like it or not, we have to do it.”
Until the launch event on Monday, the primary source of information about World Liberty Financial was based on interviews given by Trump’s sons, highlighting the fact that the project involves several members of the Trumpy family.
During his current presidential campaign, Trump has pledged to support the crypto industry, even accepting campaign donations through crypto tokens.
Featured image: Raw Pixel, licensed under CC0 1.0 Universal
