Trump once again at the center of controversy... Let's see what it's all about this time!
Donald Trump continues to find himself at the center of controversy, now with his involvement in a new crypto project linked to a recent major hack in the DeFi sector. Rumors are circulating about a project called World Liberty, which is associated with Trump’s presidential campaign and involves questionable figures. Though no official announcement has been made, details about this project are emerging, including its potential foundation on Ethereum and Aave.
According to reports circulating on social media, World Liberty bears conceptual and technical similarities to Dough Finance, a decentralized lending platform that suffered a flash loan attack on July 12, 2024, resulting in a theft of $2.1 million. The hacker exploited vulnerabilities in the platform’s contracts, specifically Dough ConnectorDeleverageParaswap, allowing them to transfer WETH from compromised contracts.
Connections to Dough Finance and Potential Vulnerabilities
Given the technical similarities, it’s uncertain whether World Liberty will share the same vulnerabilities as Dough Finance. The connection goes beyond coding, as the World Liberty whitepaper mentions Chase Herro, a crypto influencer listed as the project's data and strategy lead. Herro has a link to Dough Finance on his Instagram profile, a notable fact considering he, along with Zachary Folkman and Octavian Lojnita, was involved in creating Dough Finance.
Folkman, previously known as a "pick-up artist" and the founder of Date Hotter Girls, has taught courses on becoming an "alpha male." Together with Herro, he worked on several ventures, including Subify, a subscription-based platform competing with Patreon and OnlyFans, as well as exclusive, high-cost networking groups.
Trump Family’s Role in the Project
Donald Trump is named Chief Crypto Advocate for World Liberty, while his sons, Eric and Donald Jr., are designated as Web3 Ambassadors. Steve Witkoff, a longtime Trump ally and prominent figure in real estate, along with his son Zach Witkoff, are also among the project’s leadership team.
What to Expect from World Liberty?
While there is no official launch date for World Liberty, interested individuals can follow its development via the project's social media. Alongside the platform’s debut, a new cryptocurrency called $WLFI is expected to be released. This token will likely serve as a non-transferable governance token, limiting its potential for speculation.
Trump’s involvement in cryptocurrency is particularly noteworthy as it intersects with his political ambitions. At the Bitcoin 2024 conference in Nashville, Trump vowed to establish a national Bitcoin reserve and promised not to sell government holdings of the digital asset. Whether these pledges materialize into actual policies if he wins the presidency remains to be seen.
This foray into the crypto space raises significant questions, especially considering the potential for Trump’s policies to influence the regulatory landscape if he returns to the White House. With World Liberty on the horizon, Trump’s crypto ventures could have far-reaching implications, both politically and financially.