Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
Despite all that, the former president and Republican nominee has carved out some time later on Monday to unveil a new crypto company:At 8 p.m. on X , Trump is scheduled to livestream specifics of the blockchain app that he and his sons have been teasing for months in the leadup to November's presidential election.
refers to blockchain-based tools that allow users to directly trade, borrow, lend and invest assets without traditional middlemen.as"based on thin air" in 2019, Trump has explicitly embraced the technology and amped up his pro-crypto rhetoric in recent months, especially with the blockchain industry emerging as one of the election cycle's biggest corporate fundraisers.
Outside of crypto, Folkman and Herro are the founders of Subify, a censorship-free subscription platform similar to OnlyFans that is best known for its association with the influencer Logan Paul. According to the document, the Ethereum-based WLFI token will be non-transferable, meaning it won't be possible to trade on the blockchain, but holders will be able to use it to vote on changes to World Liberty's development roadmap.
The transfer restrictions may be designed to make WLFI look less like a stock in the eyes of regulators since they will make the asset difficult to buy and sell like other speculative cryptocurrencies. However, traders frequently sell IOUs for blockchain assets via legal agreements and handshake deals, and WLFI holders could ostensibly vote to make the asset directly transferable on blockchains in the future.
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