Who is behind World Liberty Financial, Trump’s new crypto?

World Liberty Financial was marketed as a “governance token” that would make the platform “community-governed.” Strangely, despite the fact that there

Trump's new crypto project is struggling to live up to its promises

World Liberty Financial, the cryptocurrency project launched by former President Donald Trump Jr., is facing scrutiny for its lack of engagement in the governance process, despite being marketed as a “community-governed” platform.

According to data from Etherscan, there are currently over 80,000 wallets holding the World Liberty Financial token. However, there has not been a single post in the project's governance forum since January 9.

This lack of engagement stands in stark contrast to other decentralized autonomous organizations (DAOs) such as AAVE, Sky, Uniswap, Lido, and Compound, which see multiple posts every day.

Earlier in December, there was a governance proposal on the World Liberty Financial forum which saw approximately 1,700 wallets participate. The proposal outlined the intention to launch an AAVE lending market, which was easily passed.

However, this instance has yet to be launched.

Meanwhile, the project has continued to move forward, announcing its intention to create some type of cryptocurrency reserve described as “the Macro Strategy.” This strategy was announced without discussion in the governance forum and without the approval of governance token holders.

Interestingly, Blockworks has reported that World Liberty shopped around a deal to cryptocurrency teams where if you purchased its token, it would purchase your token in return.

World Liberty has denied these claims. Yet, despite their denials, the project has made investments in projects connected to its investor Justin Sun, including ones that have recently limited their disclosures.

However, despite the lack of progress toward its stated goals, the project has still been successful by other measures. For example, it has nearly reached a new fundraising goal at the time of writing and has raised over $1 billion.

Fundamentally this is the real purpose of this project; it is a way to enrich the president who declares himself king.

Protos reached out to the World Liberty Financial X account to determine when it intends to launch its AAVE instance, but it didn’t immediately respond.

Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.