World Liberty Financial says ‘thousands’ signed up for whitelist within first day

Quick Take

  • The crypto project backed by Donald Trump said Tuesday its whitelist has “thousands” signed up since going live Monday morning.
  • Crypto critics and advocates have said the project does more harm than good for the industry.
World Liberty Financial, the crypto project backed by former president Donald Trump, said Tuesday its whitelist has "thousands" signed up since going live Monday morning.
 
"Our whitelist is already a massive success! Thousands of people have joined, and we’re just getting started. Don’t miss your chance to be part of something revolutionary," the project said in a post from its X account.
 
World Liberty Financial opened up "Know Your Customer" (KYC) verification on its website on Monday. KYC is the process of verifying a customer's identity to prevent illegal activities, such as money laundering and fraud.

"In the US, this information is only intended to be available to persons who have also been verified as accredited investors," the website reads. On Telegram, the project said, "Due to outdated policies and regulations in the US, one whitelist is limited to accredited US investors and another for all non-US persons."

Little is officially known about World Liberty Financial. Eric Trump and Donald Trump Jr. first teased a DeFi project in early August amid Donald Trump's embrace of cryptocurrency. During a "launch" event on X Spaces last month, World Liberty Financial said it will sell a non-transferable governance token called WLFI and will be distributed as 63% sold to the public, 17% for user rewards, and 20% for team compensation.

Reaction to World Liberty Financial has been split, The Block's Sarah Wynn has reported, as crypto critics and advocates have said the project does more harm than good for the industry.

“Donald Trump’s sudden enthusiasm for cryptocurrency is as transparent as it is opportunistic," said crypto-friendly Democrat Rep. Wiley Nickel of North Carolina in a statement to The Block. "After doing absolutely nothing for crypto while in the White House, he’s only now launching World Liberty Financial to cash in on a movement he never supported."


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About Author

Jason is a U.S. news editor at The Block. He previously worked as a staff writer and later served as managing editor at Benzinga, a financial news and data company. He led Benzinga's daily markets coverage as well as the expansion of the outlet's cannabis, cryptocurrency and sports betting verticals. He earned a bachelor's degree in journalism from Central Michigan University and resides in the suburbs of Detroit, Michigan. Follow him on X @JasonShubnell.

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