VIDEO: Trump’s World Liberty Financial explained in 2 minutes

Donald Trump, along with his sons Donald Jr., Eric, and Barron, and property developer Steve Witkoff and his son Zach, is preparing to launch World Liberty Finance, a thin wrapper around the Aave lending platform that appears to be forked from the recently hacked Dough Finance.

The project will apparently focus on “liquidity” and will “restructure where the American debt is being held.”

If this is indeed the case, the project would likely mark the first time that a former United States president in the middle of a campaign has explicitly promoted a product that has promised to disrupt the American financial system.

Trump will reportedly serve as the “Chief Crypto Advocate,” a significant change in stance from a man who once said of Bitcoin, “it just seems like a scam.” He and his wife Melania have also previously dabbled in the NFT space.

Access to the token in the United States is limited to accredited investors who are willing to go through a know-your-customer process, and it will initially not be transferrable.

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