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Donald Trump’s highly anticipated appearance on X Spaces on September 16 didn’t fully deliver on the promise to launch World Liberty Financial — his family’s new crypto platform. While billed as a “State of Crypto address,” Trump speech focused more on his political aspirations and only briefly touched on cryptocurrency, leaving many attendees waiting for the key announcement.
Trump Talks About Assassination Attempt
The former President, who had just survived an apparent assassination attempt the previous day, opened the livestream by addressing the incident. Though he hinted at discussing crypto, it took around 16 minutes before he made any mention of it, stating:
“We’re going to make our country greater than ever before, and you’re going to be happy, and you’re going to love your crypto.”
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Beyond that, however, Trump provided no substantial details on the new platform or its token.
WLFI Token Details
It wasn’t until over two hours into the livestream that Zak Folkman, one of the project’s leaders, stepped in to provide more specific information. Reading from a prepared statement, Folkman confirmed that World Liberty Financial would introduce a token named WLFI. These tokens would serve solely as governance tokens, granting holders the right to make proposals and vote on decisions concerning the platform.
Folkman clarified that WLFI tokens by Trump would be non-transferable and available for sale only to accredited investors in the U.S., who would need to undergo verification to participate. Non-U.S. investors could also potentially join in a future sale, though they would be subject to local restrictions.
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As for token distribution, Folkman stated that 63% of the WLFI tokens would be available to the public, with no pre-sales or early buy-ins for venture capital firms. Meanwhile, 20% of the tokens would be allocated to the platform’s team and advisers, with the remaining 17% set aside as user rewards.
This allocation appears to deviate from an earlier draft of the white paper, which suggested that 70% of the token supply would go to the team.
Details about the World Liberty Financial platform itself remained scant during the event. However, earlier reports suggested that the platform would focus on decentralized finance (DeFi) services such as borrowing and lending.
The entry of Trump into the crypto space marks a major shift from his previous stance in 2019, when he criticized cryptocurrency as having value “based on thin air.” Since then, he has embraced the industry, selling NFT collections and accepting crypto for campaign contributions, positioning himself as a “crypto president.”
