Trump’s Crypto Project Opens KYC for WLFI Token Sale

Donald Trump’s latest venture, World Liberty Financial (WLFI), has officially launched the KYC (Know Your Customer) verification process, a necessary step for participants to take part in the sale of WLFI governance tokens. Introduced in September 2024, the project aims to offer decentralized finance (DeFi) services such as borrowing, lending, and earning interest on cryptocurrencies using the Ethereum blockchain.

The WLFI token is a non-transferable governance token, granting holders the right to vote on the platform’s decisions, but it does not offer any economic or profit-sharing benefits. Of the total token supply, 63% will be made available through public token sales, 17% is set aside for user rewards, and 20% is reserved for the founding team, which includes members of the Trump family.

To participate in the token sale, users must complete the KYC process on the project’s official website. It’s important to note that U.S. citizens can only participate if they qualify as accredited investors, meaning they must have a net worth of over $1 million or an annual income of at least $200,000.

Donald Trump has voiced his support for the project, seeing it as a way to strengthen America’s leadership in the global crypto space. However, the project has faced criticism due to its limited accessibility for average investors and potential conflicts of interest, especially as Trump prepares for the 2024 presidential elections.