World liberty financial crypto company founded by Donald Trump just raised a hundred million dollars. This money was said to be gathered in the UAE-based Aqua 1 foundation. Nonetheless, its co-founder, Dave Lee, is inconspicuous and unknown.
This unknown funding raised instant eyebrows regarding who the investors were, and their intentions. Offshore money may become a fear of many experts as it might conceal conflicting interests. In the meantime, relations of Aqua 1 foundation are not clear and it is quite doubtful as to its transparency.
Reuters cited that anonymous wallets still favour Trump in his plans on crypto currency. Also, these wallets make it quite difficult to trace actual investors in the venture. Opponents of this secrecy believe that this would undermine crypto projects in the eyes of the people.
The world liberty financial seeks to establish itself as a large crypto player. Yet, slow initial token sales is the issue with the venture even with backers of great notoriety. Consequently, the viable nature of the project as well as the long term course of action is queried by many analysts.
Trump’s Political ties deepen investor skepticism
Industry analysts foresee future regulatory retribution with such practices. Additionally, SEC would be able to look at the source of funds and governance of the project. This sort of examination can become even stronger since monetary allowances to anonymous cryptos are on the rise across the world.
A further twist of the project is its political links. Critics claim that the role of Trump causes blurring of boundaries between private finance and politics. Hence, they want to be checked more to ensure that the money of investors is not misused.
Others think that the project coincides with bigger issues of crypto fundraising. Confused governance and illusive sponsors pose a threat to the credibility of the industry. Also, stricter disclosure laws can be added by the regulators due to such cases.
World Liberty Financial is still fully supported by its supporters even though controversies revolve around Trump. In the meantime, the world is waiting to read whether the project can acquire some actual momentum. Investmants are also huge and the future of the project lies in transparency and trust.
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