World Liberty Financial Whitelist Success

World Liberty Financial, the crypto project backed by former president Donald Trump, announced on Tuesday that it has seen “thousands” of sign-ups for its whitelist since it went live Monday morning.

“Our whitelist is already a massive success! Thousands of people have joined, and we’re just getting started. Don’t miss your chance to be part of something revolutionary,” the project stated via its X account.

KYC Verification

On Monday, World Liberty Financial opened its “Know Your Customer” (KYC) verification on its website. KYC is the process for verifying a customer’s identity to prevent illegal activities, such as money laundering and fraud.

According to the website, “In the US, this information is only intended to be available to persons who have also been verified as accredited investors.” The project mentioned on Telegram that due to outdated US policies and regulations, “one whitelist is limited to accredited US investors and another for all non-US persons.”

Background Details

Little is officially known about World Liberty Financial. Eric Trump and Donald Trump Jr. initially hinted at a DeFi project in early August as Donald Trump began to embrace cryptocurrency. During a launch event on X Spaces last month, World Liberty Financial announced it will offer a non-transferable governance token called WLFI, with 63% allocated for public sale, 17% for user rewards, and 20% for team compensation.

Mixed Reactions

Reactions to World Liberty Financial have been divided. According to The Block’s Sarah Wynn, both critics and advocates assert the project poses risks to the industry.

Democratic Rep. Wiley Nickel of North Carolina commented, “Donald Trump’s sudden enthusiasm for cryptocurrency is as transparent as it is opportunistic. After doing absolutely nothing for crypto while in the White House, he’s only now launching World Liberty Financial to cash in on a movement he never supported.”