World Liberty Financial Team Says the Best Way to 'Make America Great' Using Cryptocurrencies Is to Encourage the Usage of U.S. Dollar-Backed Stablecoins

The team held a live stream via X Spaces Monday to give details about the widely-publicized project ahead of a token sale.

DeFi World Liberty Financial Team: Stablecoins Are The Best Way To 'Make America Great' Using Cryptocurrencies

The team behind World Liberty Financial, a decentralized finance (DeFi) project backed by former President Donald Trump, stated Monday that the best way to "Make "America Great" using cryptocurrencies is to encourage the usage of U.S. dollar-backed stablecoins rather than speculative, risky assets.

The team held a live stream via X Spaces to give details about the project ahead of a token sale.

"We really believe that’s the best way to make America great through crypto," said Zak Folkman, part of the founding team, of the platform, which is inspired by the ideals envisioned by Trump — to make financial opportunities accessible to everyone while at the same time supporting the U.S. economy

"It’s not through speculating on risky assets."

"Nobody’s gonna walk into a store and figure out ok, my groceries are $230, how many Satoshis is that? It just doesn’t make sense," said Zolkman further, pointing toward Bitcoin (CRYPTO: BTC).

The team members also highlighted several advantages of the cryptocurrency derivatives of the dollar, such as their stable value and the 1:1 redemption feature.

"Through stablecoins, we can in fact make the dollar not only strong but make it safe as the world’s reserve currency for the next 5000 years," said Folkman.

The much-touted DeFi project was launched by Trump last month, with the sale of the project's governance token WLFI set for Tuesday.

The project aims to raise $300 million from the initial sale of the token by offering 20% of the supply at a $1.5 billion fully diluted valuation.

Mark Cuban, a leading cryptocurrency advocate and a Trump critic, questioned the rationale behind such a move, stating, "I’ll let this stand on its own."

Bitcoin was trading at $64,093.01 at the last check, up 1.91% in the last 24 hours, according to data from Benzinga Pro.

The above is the detailed content of World Liberty Financial Team Says the Best Way to 'Make America Great' Using Cryptocurrencies Is to Encourage the Usage of U.S. Dollar-Backed Stablecoins. For more information, please follow other related articles on the PHP Chinese website!