Controversy surrounding an upcoming crypto project linked to Donald Trump has sparked discussions within the DeFi community. Speculations have emerged about potential connections to a major DeFi hack and other questionable individuals. Republican Presidential Nominee Donald Trump and his sons have hinted at the launch of a DeFi project named world Liberty, although no official announcement has been made public.
Details about the Trump crypto project are gradually surfacing, with reports suggesting that it will be built on ethereum and Aave. The project is expected to mimic Dough Finance, a DeFi platform that was recently hacked for $2.1 million through flash loans in early July.
Certik has conducted a comprehensive incident analysis of the Dough Finance hack, providing valuable insights into the vulnerabilities exploited. The upcoming world Liberty protocol's similarity to Dough Finance has raised concerns within the crypto community.
Trump crypto Project – Who is Behind It?
Questions linger about the potential vulnerabilities that may exist in the world Liberty protocol, especially given the project's similarities to Dough Finance. The connections to Dough Finance extend beyond just code similarities, as a leaked world Liberty Whitepaper names crypto influencer Chase Herro as the data and strategies lead.
Reports indicate that Herro, along with team members Zachary Folkman and Octavian Lojnita, were the creators of Dough Finance. Folkman, previously known for running a dating advice platform, and Herro, a prominent crypto influencer, have collaborated on projects such as Subify and operated exclusive networking clubs.
Noteworthy figures associated with the Trump crypto project include Donald Trump as the Chief crypto Advocate, his sons Eric Trump and Donald Trump Jr as web3 ambassadors, and long-term ally Steve Witkoff and his son Zach Witkoff as part of the project's leadership.
What Next for Trump crypto Project world Liberty?
Despite the buzz surrounding the Trump crypto project world Liberty, no official launch date has been announced. Interested individuals can stay updated by following the project's Twitter account provided. The introduction of a new cryptocurrency called WLFI is anticipated, likely functioning as a non-transferable governance token.
Donald Trump's venture into crypto signifies a growing interest in blockchain technology, evidenced by his recent commitment to create a national bitcoin stockpile and pledge not to sell the government's holdings at a bitcoin conference in Nashville.
