Trump’s New Initiative in the Crypto Space
On September 30, former President Donald Trump unveiled the whitelist process for World Liberty Financial Inc. (WLFI), positioning it as a pivotal step in his vision to rejuvenate America’s involvement in cryptocurrency.
Whitelist Access and KYC Requirements
To gain early access to WLFI, participants must complete a Know Your Customer (KYC) verification. The platform has emphasized that there are currently no plans for a native token, and being whitelisted does not guarantee a token offering in any region.
The announcement specified that in the future, if a token is released, it will be available exclusively to users who pass the KYC checks.
Eligibility Criteria
- Open exclusively to accredited investors based in the US and non-US residents.
- Retail investors in the US will not participate due to existing regulatory constraints.
The WLFI team remarked that these limitations stem from “outdated policies and regulations in the US,” expressing their commitment to advocating for change.
KYC Process Overview
The KYC procedure entails:
- Providing a digital wallet address.
- Submitting a scan of a government-issued ID.
- Undergoing a liveness check via a camera.
- US-based participants must also validate their status as accredited investors.
WLFI has not disclosed the timeframe for processing whitelist applications.
Emergence of Fake Tokens
Following the announcement of the whitelist, three counterfeit versions of the WLFI token were identified on DEX Screener, leading to concerns about potential scams and misinformation.
Strategic Partnerships and Goals
Founded by Eric Trump and Donald Trump Jr., WLFI has garnered support from their father, who aims to strengthen the influence of the US dollar through a focus on stablecoin technology.
Collaborative Efforts
WLFI recently revealed partnerships with prominent DeFi entities, notably Aave, in pursuit of bolstering the US dollar’s position within the global economy.
New Advisors Joining the Team
The organization has been actively enhancing its advisory board, with notable additions including:
- Matthew Morgan, CEO of the blockchain gaming platform Mixie AI.
- Ryan Fang, founder of Tomo Wallet and co-founder of Ankr, a blockchain services provider.
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