News

Trump's World Liberty Financial Opens KYC Verification

The project urges crypto's accredited investor class to 'Be DeFiant' and begin the KYC process.

Sep 30, 2024 • 1 min read

Trump-backed World Liberty Financial has opened up Know Your Customer (KYC) verification on its official website for its upcoming public token sale.

What's the Scoop?

KYC Purpose: According to the homepage, information about the project is only accessible to those completing the KYC process. In the U.S., only accredited investors will be eligible.
Token Details: It was confirmed that World Liberty Financial will issue a non-transferable governance token, WLFI. Token distribution includes 63% to the public, 17% for rewards, and 20% for team compensation.

Bankless Take:

While we’re inching closer to World Liberty Financial’s launch, we’re inching closer to the election too. With the majority of crypto seeing WLFI as a net negative to Trump’s chance to win and potentially impeding bipartisan progress for crypto if he doesn’t, the KYC launch does little except heighten anxieties. Regardless, with less-than-desirable tokenomics, it will be interesting to see how much funding WLFI accrues for its non-transferable token sale.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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