World Liberty Financial says ‘thousands’ signed up for whitelist within first day

"In the US, this information is only intended to be available to persons who have also been verified as accredited investors," the website reads. On Telegram, the project said, "Due to outdated policies and regulations in the US, one whitelist is limited to accredited US investors and another for all non-US persons."

Little is officially known about World Liberty Financial. Eric Trump and Donald Trump Jr. first teased a DeFi project in early August amid Donald Trump's embrace of cryptocurrency. During a "launch" event on X Spaces last month, World Liberty Financial said it will sell a non-transferable governance token called WLFI and will be distributed as 63% sold to the public, 17% for user rewards, and 20% for team compensation.

Reaction to World Liberty Financial has been split, The Block's Sarah Wynn has reported , as crypto critics and advocates have said the project does more harm than good for the industry.

“Donald Trump’s sudden enthusiasm for cryptocurrency is as transparent as it is opportunistic," said crypto-friendly Democrat Rep. Wiley Nickel of North Carolina in a statement to The Block. "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."