World Liberty Financial, a new crypto lending platform promoted by Donald Trump and his family, promises to return financial power to the people. However, a draft white paper obtained by CoinDesk reveals that 70% of the platform’s governance token will be held by insiders, raising questions about the platform's decentralization. In comparison, Ethereum allocated nearly 16% of tokens to insiders at launch. The project has attracted skepticism from industry experts and Trump supporters, with concerns over governance, potential hacks, and SEC scrutiny.
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00:00It's Benzinga and here's what's on the block.
00:03World Liberty Financial, a new crypto lending platform promoted by Donald Trump and his
00:07family promises to return financial power to the people.
00:10However, a draft white paper obtained by CoinDesk reveals that 70% of the platform's governance
00:15token will be held by insiders, raising questions about the platform's decentralization.
00:20In comparison, Ethereum allocated nearly 16% of tokens to insiders at launch.
00:25The project has attracted skepticism from industry experts and Trump supporters, with
00:30concerns over governance, potential hacks, and SEC scrunty.
00:33For all things money, visit Benzinga.com.