Donald Trump finds himself in a virtual dead heat with Vice President Kamala Harris as the date of elections in the US is getting closer. The former president has also been the topic of many discussions in the world of digital currencies.
Betting with cryptocurrencies is becoming increasingly popular due to the extra perks it offers to players. More people are flocking to the best Bitcoin casinos looking to spin slots and play their other favorite casino games. As Sergio Zammit states, Bitcoin casinos provide faster deposits and withdrawals than traditional fiat currency casinos. They also provide anonymity, given that no name or bank details are attached to crypto transactions.
Some gamblers are betting on the upcoming presidential elections with four mysterious individuals recently pumping $30 million into bets favoring Trump’s victory.
However, Trump has also drawn plenty of attention for his involvement in World Liberty Financial (WLF) cryptocurrency. World Liberty Financial has published its 13-page white paper, according to which the Trump family will get 22.5 billion WLF tokens. This amounts to $337.5 million, based on the token’s price which currently sits at 1.5 cents per token.
According to World Liberty Financial’s roadmap, the goal of the project is to raise $300 million in its initial sale. However, sales have been rather slow so far, with only 4% of tokens sold on the first day.
Another important piece of information released in the document is that Donald Trump and his family aren’t tied to the WLF. In other words, the white paper states they’re not directors, managers, employees, or operators of World Liberty Financial or its affiliates. Instead, the document refers to Trump as the token’s chief crypto advocate while his three sons are listed as Web3 ambassadors.
The white paper also stated that the project and WLF aren’t political and aren’t affiliated with any political campaign.
Additionally, according to the documents, WLF bills itself as a crypto bank that offers its customers a chance to borrow, land, and invest in crypto. It also highlighted that $30 million of the initial revenue will be used to cover its operating costs while 25% of net protocol revenue will go to Axiom Management Group (AMG).
AMG is owned in its entirety by Chase Herro and Zachary Folkman, who also founded the company. Both have previously worked on the Dough Finance crypto project. However, according to the white paper, these allocations are subject to change and it’s unclear to what extent this also applies to the Trump family.
35% of WLF’s total supply has been allocated to token sales and 32.5% has been distributed to community growth and incentives. With election day approaching, there’s no doubt Donald Trump will be at the center of attention. However, with the release of WLF and more people using crypto to bet on his victory, there’s no doubt the former President will also be the central figure in the world of cryptocurrency.
On his X account, Trump has previously vowed to make the US the crypto capital of the planet. One day before stating this, he also released a new set of his NFT trading cards.