Trump-Backed Crypto Project Whitelists 100K Investors

World Liberty Financial supported by the Trump family said in an X post on Monday that it had whitelisted over 100,000 approved U.S. investors before launching its token on Tuesday.

The presale of World Liberty Financial’s WLFI token launches in the US on Tuesday, exactly three weeks before the presidential election in the world’s largest economy.

Trump is the “chief crypto advocate” for the project. Donald Trump Jr. and Eric Trump, are “web3 ambassadors,” while Barron is a “DeFi visionary.”

The Securities and Exchange Commission in the United States has granted accredited investors permission to purchase unregistered securities, including shares issued before an initial public offering (IPO). They must meet certain income and net worth requirements, such as earning $200,000 a year and having more than $1 million in total assets.

Founders Zachary Folkman and Chase Herro stated that local restrictions are followed before non-U.S. investors can be added to the whitelist.

Luke Pearson, senior research cryptographer at Polychain Capital; Sandy Peng, co-creator of layer-2 network Scroll; and Stani Kulechov, founder of Aave, were among the prominent crypto personalities who attended the events

The project wants to sell tokens with a market valuation of  $1.5 billion. Users can vote on protocol modifications and new tactics using WLFI, which serves as the protocol’s governance token. Users can also build liquidity pools, interact with stablecoins, and borrow and lend cryptocurrency on  World Liberty Financial.