Breaking news! The Trump family released a "super important date": the new financial revolution in the United States will arrive next week...

FX168 Financial News Agency (Asia Pacific) reported that former US President and Republican presidential candidate Donald Trump released a blockbuster news on Thursday (September 12). He announced that his family's new decentralized finance (DeFi) project World Liberty Financial (WLFI) will be launched on September 16, North American time. He welcomed the market to join in the celebration and emphasized that the slow and outdated big banks will be left behind.

Trump wrote: "At 8 pm on September 16, North American time, you are welcome to watch the launch of the World Liberty Financial financial project live on Twitter Spaces. We will embrace the future with cryptocurrency and leave the slow and outdated big banks behind."

WLFI's official Telegram channel announced that the project's launch will be live-streamed from Trump's Mar-a-Lago estate.

"Please get ready, we will unveil our plan to 'Make Finance Great Again,'" the team said. "This is a milestone event you don't want to miss."

Previously, the WLFI team revealed that the project aims to make the US-pegged stablecoin the global settlement layer for the next century. It has partnered with security companies such as Fuzzland, Peckshield and BlockSecTeam, which have reviewed the project's code.

Source: Twitter

In addition, the project aims to build a decentralized financial system using Aave’s non-custodial lending platform.

The document and other reports describe a lending service that is strikingly similar to the DeFi project Dough Finance, a recently hacked blockchain application developed by four people listed as members of the WLFI team.

Zachary Folkman and Chase Herro, who are listed in the white paper as WLFI’s head of operations and head of data and strategy, respectively, founded Dough Finance, according to people familiar with the matter.

The project will also include a new cryptocurrency, “WLFI,” a non-transferable governance token, according to a person familiar with the matter. Transfer restrictions could make it difficult for speculators to trade the asset.

As CoinDesk previously reported, privately, Trump's inner circle has been quietly peddling a white paper for the WLFI project.

However, experts stressed that the WLFI project faces challenges in gaining attention because mature dollar stablecoins like USDC and USDT already have strong liquidity, community support and trust, and WLFI needs to provide superior features to stand out.

Trump has made cryptocurrencies, especially Bitcoin, a focus of his 2024 campaign. He envisions the United States becoming a global leader in cryptocurrency, aiming to make it the world's "crypto capital" and a Bitcoin superpower.

To support this, Trump plans to establish the U.S. National Bitcoin Reserve to ensure that the U.S. government holds all current and future Bitcoin assets.

According to Dune Analytics, an on-chain data tracking platform, the U.S. government still holds 203,222 Bitcoins.

Source: Dune