Donald Trump, who once again faced an assassination attempt over the weekend, both gave messages of support to the crypto world and explained his new project with the Space broadcast on X at night. Trump, who stated that the Biden government and the SEC have a hostile attitude towards cryptocurrencies, as he has said many times before, took part in 40 minutes of the approximately 2-hour broadcast.
“If Harris wins, crypto will go to hell”
Trump said that if Kamala Harris wins the election, the crypto world will turn into hell in the US and the lives of those currently under SEC investigation will become much more difficult. The presidential candidate also said that the US is in danger of losing the upper hand to China in this field.
9 months in preparation
In the more than 2-hour broadcast, Trump spoke for about 40 minutes and left the technical details to other founders and executives. After Trump’s sons Eric Trump and Donald Trump Jr. also spoke, other executives took the floor.
Steve Witkoff, one of the founders, who is a long-time friend of Trump and has expertise in real estate, said that the project has been in preparation for 9 months. Chase Herro and Zachary Folkman then stepped in to give details.
How will the token distribution be?
In the information provided by Folkman, token distribution was also detailed. Stating that the governance token of the project will be WLFI, Folkman informed that there will be no pre-sale or mass distribution.
According to the details; 63% of the WLFI token will be allocated to general sales, 17% to World Liberty Financial (WLF) users and awards. The remaining 20% will be distributed to the manager and consultant group.
The token will comply with the requirements set by the SEC as Regulation D.
Regulation D allows companies to raise capital through securities (meeting certain conditions) without registering with the SEC in the first place. Folkman said this choice was made due to the uncertainty in the crypto industry in the US.
World Liberty Financial, where people can borrow, lend and invest in crypto, has also incorporated important names from the crypto sector as consultants. Among these names were Sandy Peng, co-founder of Scroll, and Luke Pearson, partner of Polychain Capital.