Cash News
Former US President Donald Trump’s DeFi project World Liberty Financial is set to issue its token sale next week. The announcement presents a key development in the former President’s entry into the digital asset space.
The public sale of tokens is set to start on Oct. 15 but will be open only to those who have successfully qualified through a whitelist process that started in September. For its part, the project’s reach is now limited in the United States to accredited investors only, per the definition set out by the Securities and Exchange Commission (SEC) regulations.
Being considered an accredited investor requires meeting strict financial requirements. By the SEC’s definition, this means having a net worth of over $1 million, excluding one’s primary residence, or $200,000 of annual income, $300,000 if including one’s spouse, over two consecutive years with the expectation of drawing the same amount or more in the current year.
World Liberty Financial is an Ethereum-based DeFi project fronted by Eric Trump, the former President’s son. It was announced for the first time this August during an exclusive interview with the New York Post, with Eric Trump calling it “digital real estate.”
A recent blog post by the project ambitiously declared that it aims to become the one-stop-shop for DeFi globally. That would put World Liberty Financial in the same bracket as established players such as Uniswap, a decentralized exchange commonly used to swap different digital tokens.