The Donald Trump-backed decentralized finance (DeFi) project, World Liberty Financial, has launched with only a limited group of US residents able to access the service.
The platform opened signups on September 30, allowing users to link their crypto wallets through the website. The registration process starts with users indicating their country of residence, after which they must complete a know-your-customer (KYC) verification.
While users from foreign countries can join freely, US access is currently limited to accredited investors. However, the project has hinted at future expansion.
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According to regulations set by the US Securities and Exchange Commission (SEC), to qualify as an accredited investor, an individual must meet specific financial criteria. This includes a net worth of at least $1 million, not counting the primary residence, or earning $200,000 annually for the last two years, with expectations of continuing that income.
Despite the regulatory limitations, Trump remains positive about the platform’s future. He took to X on September 30 to express his belief that World Liberty Financial would help solidify America’s leadership in crypto.
Since its announcement, the specifics of the project haven’t been clear, but it’s now confirmed as a DeFi platform built on Ethereum, providing services such as crypto lending and borrowing.
This project marks a shift in Donald Trump’s stance on crypto. Once a vocal critic, Trump has now positioned himself as the “Crypto President,” just in time for the upcoming November election. He has treated his supporters to burgers and paid in Bitcoin, has launched his fourth collection of non-fungible tokens (NFTs), and criticized SEC Chair Gary Gensler’s strict crypto policies.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
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