El Salvador-backed Digital Liberty Fund announces launch of national cryptocurrency

Trump-Backed Stablecoin WLFi to Launch on Binance, Amid Controversy Over Ties to Former President

A new stablecoin, WLFi, backed by former US President Donald Trump, is set to launch on the Binance cryptocurrency exchange, according to a statement released by the Trump Organization and WLFi.

WLFi, which stands for World Liberty Fund Initiative, is a US dollar-pegged stablecoin designed to facilitate international transactions and provide a secure and stable store of value. The stablecoin is expected to be listed on Binance, one of the world's largest cryptocurrency exchanges, in the coming weeks.

The launch of WLFi has sparked controversy, however, due to the involvement of Trump, who has faced criticism for his role in promoting the stablecoin. Some have raised concerns that Trump's endorsement of WLFi could be seen as an attempt to profit from his political influence.

The Trump Organization has a significant stake in WLFi, and the former President has been involved in promoting the stablecoin through his social media channels. Critics have argued that this could be seen as a violation of the Foreign Corrupt Practices Act, which prohibits US citizens from using foreign currency to bribe or corrupt foreign officials.

In a statement, the Trump Organization said that WLFi is a "neutral" and "transparent" stablecoin that is designed to facilitate international transactions and provide a secure and stable store of value. The organization also emphasized that WLFi is not a security and is not subject to the same regulatory requirements as other digital assets.

The launch of WLFi on Binance comes amid a growing trend of stablecoins being listed on major cryptocurrency exchanges. Stablecoins are designed to peg their value to a fiat currency, such as the US dollar, and are often used to facilitate international transactions and provide a stable store of value.

The listing of WLFi on Binance is expected to provide the stablecoin with significant liquidity and exposure, and could help to establish it as a major player in the global cryptocurrency market. However, the controversy surrounding Trump's involvement in the stablecoin is likely to continue to generate attention and debate in the coming weeks.