World Liberty Financial, the cryptocurrency platform co-founded by U.S. President Donald Trump, plans to release an audit report of its stablecoin within days and launch a new app, co-founder Zak Folkman said on Wednesday.
Speaking at the Permissionless conference in Brooklyn, New York, Folkman also said the platform’s governance token, known as WLFI, may soon become tradable. WLFI, which was launched two months before the U.S. presidential election, has generated hundreds of millions of dollars in revenue for Trump’s family business.
The company has raised funds by selling governance tokens that allow holders to vote on project changes and give input on its direction. These tokens are currently not tradable, but Folkman said more updates could come soon.
He said users should watch closely over the next few weeks.
Folkman added that the company’s stablecoin recently received its first attestation report from an accounting firm, which will be published on the company’s website. He said World Liberty would maintain transparent financial audits.
He also said a new app would be introduced to help make cryptocurrency easier for everyday investors to use.
The Trump Organization said earlier this year that the president’s business interests would be managed in a trust run by his children. The White House and Trump Organization did not respond to requests for comment.
The crypto business has drawn criticism from Democratic lawmakers and ethics groups, who say it could create conflicts of interest at a time when Trump is easing regulations on the industry.
