World Liberty Financial, a company partly owned by the family of US President Donald Trump, will gain total control over the WLFI cryptocurrency.
September 1 planned to launch trading of World Liberty Financial (WLFI) tokens. However, before selling the coins, participants in the pre-sale of digital assets need to apply for their unlocking on the website dedicated to WLFI. To prevent the virtual currency rate from collapsing sharply, the tokens will be unfrozen gradually, according to a schedule adopted during a vote among coin owners.
In anticipation of the cryptocurrency unlocking, World Liberty Financial employees have published rules for managing digital assets, according to which the company’s employees will be able to veto any proposal from members of the crypto community. In addition, at critical moments, the process of distributing digital assets will be managed by one crypto wallet with a multi-signature.
Thus, the token issuer will gain full control over WLFI under the pretext of the need to reduce risks. Given this fact, there can be no talk of decentralization of the new cryptocurrency.
The Trump family owns 22,5% of WLFI tokens and 40% of World Liberty Financial shares. Therefore, it could be immediately assumed that preference would be given to a centralized management model that would allow the issuer to manage the ecosystem and suppress unprofitable initiatives, allegedly to protect the interests of cryptocurrency investors.