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Crypto startup close to Trump: Audit and app for investors are imminent!
Trump-affiliated crypto firm World Liberty Financial plans stablecoin audit and new app for investors. Details and backgrounds.
Crypto startup close to Trump: Audit and app for investors are imminent!
Zak Folkman, co-founder of cryptocurrency platform World Liberty Financial (WLF), has announced that the company will release an audit report on its stablecoin in the coming days. This news is particularly notable as it comes just before the US presidential election in November 2025, which saw WLF and its governance token WLFI launched in mid-September. Loud Market screener WLFI has generated hundreds of millions of dollars in revenue for the Trump family, drawing attention to possible conflicts of interest.
Folkman explained that the upcoming release of the audit report is intended to ensure a transparent financial audit of the stablecoin. The report, prepared by an accounting firm, is published on the company website. This could be a significant move to gain investor confidence and address critics who have raised concerns about President Trump's loosening of regulations.
New app in planning
Additionally, WLF plans to launch a new app that will make it easier for everyday investors to use cryptocurrencies. Folkman hinted that users will be “very, very happy” in the next few weeks, without revealing detailed information about the app. This development could have the potential to significantly expand WLF's user base and make cryptocurrencies easier to access.
The governance token WLFI, which gives holders voting rights on changes to the project, could soon be tradable. However, these tokens are currently not tradable. The Trump Organization, which announced in January that the president's assets would be held in a trust managed by his children, continues to face criticism from Democratic lawmakers and government ethics watchdogs. These raise concerns about the potential conflicts of interest that arise if the president simultaneously relaxes regulation of the crypto industry.
Criticism and reactions
The reaction to the developments surrounding WLF was mixed. Critics argue that regulatory flexibility and the Trump family's parallel launch of crypto products could threaten the integrity of the industry. While the White House and the Trump Organization have not yet responded to requests for comment, the public remains curious about WLF's next steps and the impact on the cryptocurrency market.