Informed Crypto News
Who is behind World Liberty Financial, Trump’s new crypto?
Headline, who is behind World Liberty Financial, Trump's new crypto, published on 6-17 p.m. September 17, 2024 on Protos.com. Donald Trump has joined World Liberty Financial, a cryptocurrency project advised by his children and run by fraudsters and executives from failed and hacked projects. The protocol is a thin wrapper around borrowing lending protocol Ave, which resembles the earlier DO finance. CoinDesk reporting has suggested that the project's WLFI governance token will be non-transferable and will reserve 70% of the supply for project insiders, a truly massive amount that raises significant concerns about whether it can ever truly be decentralized, as it promises. This number has been challenged in an ex-spaces with the team after claims that 63% will be sold to the public. Several team members referenced ease of use and earning yield on stablecoins as justifications for the project's existence, and somewhat uniquely, the governance token for this project is intended to be non-transferable. Here, we run down the major parties involved with the project and why it could be one of the first times that a former United States president is willing to endorse a project explicitly aimed at disrupting the country's financial system. Subheading Trump family members and World Liberty Financial Donald Trump, the financial fraudster, sexual predator, and former president, has flip-flopped on cryptocurrency, changing from "it just seems like a scam" to a full-throated endorsement of both this project and a willingness to license his image for NFT projects. He is reportedly listed as a chief crypto advocate for World Liberty Financial. Meanwhile, Eric Trump, who previously signed the Stormy Daniels' hush money reimbursement checks to Michael Cohen, has decided that he is ready to pursue a future as the project's Web3 ambassador. Donald Trump, Jr., who previously threatened GOP lawmakers for refusing to help his father perform an autogolpe, is also reportedly signed up as another Web3 ambassador. Finally, Barron Trump, who Martin Schrailey has previously accused of being involved with the DJT token, though that was never proven, is now a D5 visionary for World Liberty Financial. Subheading Do. Finance is basically World Liberty Financial. World Liberty Financial appears to be a fork of the recently hacked Doe Finance, both World Liberty Financial and Doe Finance reportedly rely on Avi for the actual borrowing and lending. The World Liberty Financial team includes several key team members from Doe Finance, including Zachary Folkman, Chase Hero Hero, Octavian Loginita, and Zero Expoga. Additionally, screenshots obtained from the since-deleted code for World Liberty Financial by CoinDesk show a striking similarity to Doe Finance. Loginita, who is the smart contracts lead, previously worked at Doe Finance. The pseudonymous Zero ex-Boga, who is listed as a front-end developer, also previously worked on Doe Finance. Folkman was a pickup artist who hosted seminars for Desperate Men. He was additionally one of the people who built Doe Finance and is now one of the faces of this project. Hero, who previously went to prison for drug-related charges, is also the founder of a defunct crypto trading firm Pacer Capital and was one of the people who built Doe Finance. He is now also one of the faces of World Liberty Financial. Folkman and Hero also worked together on mastermind groups and ran a YouTube channel where they would show themselves trading cryptocurrency and offering entrepreneurial advice. Subheading. A review of Puerto Rico's corporate registry says that the firm "Subify LLC," which was founded by Folkman, has been canceled since the end of 2023. Protos attempted to reach out to Subify to clarify this issue. Unfortunately, the email listed on the website was undeliverable and the phone number is now associated with a plumber. Protos was able to send a message on Instagram to the Subify account but has yet to receive a response. Despite these apparent issues with Subify, the website it created for Logan Paul appears to still be up and still proudly proclaims that it is powered by Subify. Protos tried to send an email to the Maverick Club to determine if these issues with Subify will affect it, but that email was also undeliverable. Maverick, by Logan Paul LLC, the entity that previously operated this Maverick Club, has been renamed to Better Call Paul LLC. Subify seems to have quietly stopped operating with no mention of the cessation on its ex-account, its TikTok, or its Instagram. This recording was AI-generated. To read the full report, visit protos.com.