The team behind Donald Trump’s latest crypto venture, World Liberty Financial, took more than two hours to release key details that many were waiting for during their Monday night event at X.
The suspense was finally over when they revealed who could buy the upcoming tokens and how the shares would be distributed. This launch, heralded as the next big step for the former president and his family, had been building anticipation for weeks.
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Zak Folkman, one of the project’s founders, explained that the platform’s WLFI token will be divided among different groups. “Twenty percent of the tokens are reserved for the founding team,” he said, referring to a group that includes the Trumps.
Another 17% will go to user rewards, while the remaining 63% of the tokens will be publicly available. He stressed: “There will be no presales or early buy-ins.”
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This was a crucial clarification, as an earlier version of the project description, which had been leaked, had raised eyebrows. The version indicated that the founders would control 70% of the tokens, leading many to worry that it was just another quick-cash scheme.
The offering’s structure, a Regulation D token offering, allows World Liberty Financial to raise funds without registering with the Securities and Exchange Commission (SEC) as long as they meet certain criteria. It’s led to a conversation about how the SEC, under its chairman Gary Gensler, has regulated the crypto industry, often using enforcement actions rather than clear guidance.
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Trump himself was part of the action, and spoke openly about his initial lack of interest in crypto. “I wasn’t overly interested,” Trump said, adding that his perspective changed when his children introduced him to crypto through the success of his non-fungible token collections. “I think my kids opened my eyes more than anything,” he noted.
The event took place against an unusual backdrop for Trump. Just a day earlier, an alleged assassination attempt had occurred while Trump was golfing with Steve Witkoff, his longtime friend and a key figure in World Liberty Financial.
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The incident occurred at Trump’s West Palm Beach golf club, and the FBI is investigating. Despite the dramatic incident, Witkoff joined Trump for Monday’s event, where he recounted how the venture began.
Witkoff shared how his son introduced him to two young crypto entrepreneurs, Chase Herro and Zak Folkman, who convinced him that decentralized finance (DeFi) could be the future of money.
“These guys are as sharp as any currency trader I’ve ever met,” Witkoff said. He then described how he brought in the Trump family. “We met with Eric, Don Jr., the president and his lawyer. We spent almost nine months on it,” he revealed.
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The similarities between World Liberty Financial and Trump’s previous venture, Trump Media & Technology Group, have not gone unnoticed. Like the media company that launched conservative social platform Truth Social, this crypto venture is expected to attract attention.
Despite the Trump family’s involvement, however, they do not own or operate the platform. Eric Trump and Steve Witkoff are the two figures at the helm, and both are new to the crypto space. While Trump has become increasingly enthusiastic about crypto in recent months, even giving a keynote at the largest bitcoin event in July, the public remains curious—and cautious—about this new project.
The founders remained tight-lipped about plans, offering little clarity on timelines. The only hint given was that updates would come through official channels, and they warned fans to be wary of scammers eager to exploit the buzz surrounding the project.
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This article Trump Family’s Crypto Venture Revealed: New Buying Rules, Who Can Invest and What It Means for Early Adopters originally appeared on Benzinga.com
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