In a recent report that sheds doubt on the promise of economic empowerment, Donald Trump's new crypto project, World Liberty Financial, appears to have drawn criticism for potentially benefiting a select group of insiders while claiming to bring financial power to the masses.

World Liberty Financial, touted as a blockchain-based lending platform built on Ethereum, has been marketed by Trump and his progeny as a means to make finance more accessible to everyday people. However, Coindesk's analysis of the project's white paper reveals a concerning distribution of power and wealth.

According to Coindesk, a staggering 70 percent of the project's governance tokens, known as WLT, would be allocated to the founders, team, and service providers, leaving a mere 30 percent for public distribution through a public sale. This disparity greatly favors the project's insiders, making it an unusually high ratio where the benefits seem skewed in their favor.

To compound the matter, it was revealed that a portion of the funds raised from the public sale would also go to project insiders, further intensifying concerns over the disproportionate allocation. The remaining funds would be channeled into a treasury account to support the ongoing operations of World Liberty Financial.

While it is mentioned that the project's plans are not yet finalized, allowing for the possibility of a reconsideration of the 70-30 split, Coindesk's findings have raised doubts about the project's intentions.

This controversial development aligns with Trump's track record of showcasing concern for the financial interests of average Americans, despite his billionaire status and policies that have predominantly favored the wealthiest individuals during his time in office.

The news of Trump's foray into the world of cryptocurrency comes as no surprise, as the industry itself has often positioned itself as a tool for democratizing finance, despite concerns about its exclusivity and potential for financial loss among ordinary investors.

It remains to be seen how World Liberty Financial will address these concerns and if it will take appropriate steps to ensure a more equitable distribution of power and wealth within its ecosystem. Gizmodo has reached out to the organization for further information and will update accordingly.

The collision of Trump's brand of populism and the fast-evolving world of decentralized finance serves as a reminder that scrutiny and critical analysis are vital when evaluating new ventures, particularly in the crypto space.

Cryptocurrency enthusiasts and investors should exercise caution and remain vigilant against potential scams and hacks, as recent incidents involving the Trump family have shown their vulnerability to such risks. Additionally, a peer-reviewed study suggests that enthusiasts in the crypto community display higher levels of "Dark Triad" personality traits, mirroring the necessity for discernment within the industry.

As the debate over Trump's crypto project continues, the question of whether it will truly empower the people or further consolidate power among the privileged few remains unanswered.