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More than two hours into Republican former President Donald Trump‘s “state of crypto” event on X Monday night, the team behind the Trump family’s new crypto project finally unveiled a key detail: Who can buy the forthcoming tokens it plans to release, and how shares of the project will be allotted.

For over a month, the former president and his family have been pumping up a project called World Liberty Financial, promising that it will do many things at once.

Lofty descriptions from those involved Monday night suggest that “World Liberty Financial” will be a sort of crypto banking platform, where the general public would be encouraged to borrow, lend and invest in crypto.

There will also be an accompanying token called WLFI, founders said Monday.

According to founder Zak Folkman, the equity structure for these tokens will be: 20% of the project’s tokens allotted to the founding team, which includes the Trumps, 17% of tokens set aside for user rewards, and the remaining 63% of the coins to be made available for the public to purchase.

There will be no pre-sales or early buy ins, Folkman said.

An earlier leaked draft of an internal project outline had the founders’ share at 70%, sparking concerns that the project would be little more than a get-rich-quick scheme.

The token will be a Reg D token offering, which follows the Securities and Exchange Commission’s Regulation D — a provision that makes it possible for a company to raise capital without first registering their securities with the commission so long as certain conditions are met.

These were themes Trump covered in a conversation early in the more than two hour call, talking about the perceived hostility of the Securities and Exchange Commission towards the digital currency industry.

Several high profile figures in the industry take issue with SEC Chair Gary Gensler, claiming that he is regulating the industry through enforcement actions, rather than with rules.

Over the course of Trump’s 40-minute fireside chat, he talked about how he “wasn’t overly interested” in crypto initially. But that changed, he said, when sales of his Trump trademarked nonfungible token collections were paid for with crypto. “I think my children opened my eyes more than anything else.”

Monday’s event came at an unprecedented moment for Trump’s presidential campaign.

On Sunday afternoon at Trump International Golf Club in West Palm Beach, Florida, Trump and his longtime friend and political donor, Steve Witkoff, were between the fifth and sixth holes on the course when gunshots were fired. The FBI has characterized the incident as an apparent assassination attempt on the former president.

Witkoff is a longtime friend of Trump’s. He’s also part of the small group of World Liberty Financial founders, according to an internal report on the project obtained by CoinDesk.

Witkoff was seated to Trump’s right during Monday night’s spaces, and described how he brought the Trump family together two crypto entrepreneurs.

“My son introduced me to two partners, Chase Herro and Zak Folkman, who are exceptionally bright people …These guys are as smart as any currency traders I’ve ever met. And they began talking to me about decentralized finance, which means frictionless finance, and why it made sense for people and about the forgotten, who can’t get credit out there,” he said.

“As I began to understand that, I said, ‘Who would understand this better than this than the Trump family?’ And we had a meeting initially with Eric, Don Jr, and the president and his counsel. And we said, Let’s go pursue it. We’ve been on it for close to nine months,” said Witkoff.

Along with Trump, Witkoff is one of at least a half dozen members of the project’s “leadership team.”

As Witkoff spoke, the parallels with Trump’s other venture, Trump Media Technology Group, were unavoidable.

In that case, two former cast members on Trump’s NBC hit “The Apprentice” approached Trump in 2021 with an idea for a new, conservative social network. Three years later, TMTG’s stock has boosted Trump’s net worth by billions of dollars, and Truth Social is his platform of choice.

Alongside Trump and Witkoff, founders include Donald Trump Jr., Eric Trump and Barron Trump, as well as Witkoff’s son, Zach Witkoff, according to a person briefed by a member of the group’s founding team.

A copy of an early internal report, known as a white paper and obtained by CoinDesk, listed Barron as “Chief DeFi Visionary,” Eric and Donald Jr. as “Web3 Ambassadors,” and Trump Sr. as “Chief Crypto Advocate.”

But while the Trumps will receive compensation from the project, Bloomberg reports that the platform itself is “not owned, managed, operated or sold” by members of the Trump family.

Witkoff, a real estate investor, and Eric Trump, executive vice president of the Trump Organization, are the two people calling the shots at World Liberty Financial, according to a person familiar with the project. Both are new to the crypto industry.

CNBC reached out to Eric Trump and Witkoff to ask about their leadership roles within World Liberty, and didn’t immediately receive a reply.

Until Monday, much of what the public knew of World Liberty was based on interviews Trump’s sons had given to the press over the past month, as well as the leaked white paper that served as a sort of crypto project manifesto, and conversations with people familiar with the project.

Anyone who wanted material details of the platform, including the white paper, was being asked to sign a non-disclosure agreement, according to a person familiar with the project

Some visible members of the industry newly cozied up to Trump in 2024, lending their cash and endorsement to the Republican presidential nominee, as he adopted increasingly bullish talking points on the campaign trail, which culminated in the GOP pick delivering a keynote address at the biggest bitcoin event of the year in Nashville in July.

Some of those supporters however, say they are concerned that this foray into crypto could jeopardize Trump’s rapport with the sector more broadly if the launch doesn’t go as planned.

A person familiar with the project says that Donald Trump, Sr. isn’t that involved in the platform thus far.

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Bidirectional charging may be required on EVs soon due to new CA law

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Bidirectional charging may be required on EVs soon due to new CA law

It’s an exciting week for grid resiliency-lovers in California, as Governor Gavin Newsom followed up his earlier smart grid law and signed another law this week which may require bidirectional charging on EVs in the future – though the law has no hard timeline attached, so it may be a while before we see this happen.

Bidirectional charging refers to the capability of electric vehicles to not just take electricity from the grid to charge, but to output electricity in various forms, whether this be vehicle-to-load (plugging in devices, like the 1.8kW capability on the Kia Niro EV), vehicle-to-home (like Ford’s “Intelligent Backup Power” system), or vehicle-to-grid (like the Nissan Leaf is capable of).

While these applications may seem like a party trick, widespread use of bidirectional charging could lead to huge benefits for efficiency, grid resiliency, and enable much greater penetration of renewable electricity generation.

Most electric grids don’t really have trouble meeting the regular everyday needs of electricity consumers, it’s when big spikes happen that things get difficult. Either on a hot day when everyone is using air conditioning, or a day when electricity generation is curtailed for some reason or another, that’s when things get difficult.

And as climate change makes temperatures hotter, California’s grid is often overtaxed on the hottest summer days, which are becoming more numerous. Even worse, methane-burning fossil gas peaker plants are the highest-polluting form of electricity California consumes, and these are currently used at peak times in order to deal with high demand.

One solution to this problem is adding energy storage to the grid which can be dispatched when needed, and which can fill up when the grid is oversupplying electricity. This helps to balance out supply and demand of electricity and make everything a little more predictable.

This is why there has been a push for grid-based storage like Tesla megapacks, which represent a large source of rapidly-dispatchable energy storage.

But there’s another source of grid-connected batteries out there which was right under our nose the whole time: electric cars.

EVs, which are mostly connected to the internet anyway, could be used as a distributed energy storage device, and even called upon to help provide electricity when the grid needs it. We already see this happening with Virtual Power Plants based on stationary storage, but if cars had V2G, theoretically cars could contribute in a similar way – both saving the grid, and perhaps making their owners some money along the way via arbitrage (buying electricity when its cheap and selling it when its expensive).

The problem is, not many automakers have included V2G capabilities in their cars, and in the cars that do have it, not many manufacturers have made V2G-capable equipment, and the ones who have built it haven’t seen that many customers who are interested in spending the extra money to upgrade their electrical systems with V2G-capable equipment.

So there needs to be something to jumpstart all of that, and California thinks it might just have the thing.

New CA law might require bidirectional charging… eventually.

The idea started in 2023 when state Senator Nancy Skinner introduced a bill which would require EVs to have bidirectional charging by 2027.

As this bill made its way through the legislative process, it got watered down from that ambitious timeline. So the current form of the bill, which is now called SB 59, took away that timeline and instead gave the California Energy Commission (CEC) the go-ahead to issue a requirement whenever they see it fit.

The bill directs the CEC, the California Air Resources Board, and the California Public Utilities Commission to examine the use cases of bidirectional charging and give them the power to require specific weight classes of EVs to be bidirectional-capable if a compelling use case exists.

The state already estimates that integrating EVs into the grid could save $1 billion in costs annually, so there’s definitely a use case there, but the question is the cost and immediacy of building those vehicles into the grid.

The reason this can’t be done immediately is that cars take time to design, and while adding bidirectional charging to an EV isn’t the most difficult process, it also only really becomes useful with a whole ecosystem of services around the vehicle.

A recent chat Electrek had with DCBEL, making bidirectional chargers simpler for consumers

Even Tesla, which for years has touted itself a tech/energy company and sold powerwalls, inverters, solar panels and so on, is still only gradually trickling its bidirectional Powershare feature out onto its vehicles.

And that ecosystem has been a bit of a hard sell so far. It’s all well and good to tell someone they can make $500/year by selling energy to the grid, but then you have to convince them to buy a more expensive charging unit and keep their car plugged in all the time, with someone else managing its energy storage. Some consumers might push back against that, so part of CEC’s job is to wait to pull the trigger until it becomes apparent that people are actually interested in the end-user use case for V2G – otherwise, no sense in requiring a feature that nobody is going to use.

Electrek’s Take

Given all of these influences, we wouldn’t expect CA to require bidirectional charging any time soon. But it still gives the state a powerful trigger to pull if other efforts, like the recently-signed smart grid law, turn out not to be enough as California works to, grow, clean up, and make its grid more affordable all at the same time.

But having the force of law behind it could turn V2G into less of a parlor trick and more into something that actually makes a difference the way us EV nerds have been dreaming of for decades now (true story: Electrek once turned down Margot Robbie for an interview and instead talked to some engineers about V2G for an hour).

So, telling manufacturers that California may start mandating bidirectional charging soon means that those manufacturers will perhaps start taking V2G more seriously, particularly given the size and influence of CA’s car market. Even if the CEC doesn’t make it a requirement, the threat of it eventually becoming one means that EV-makers will probably start getting ready for it regardless.

There’s no real point to a single person discharging their car into the grid, but when millions of cars are involved, you could work to flatten out the famous “duck curve,” which describes the imbalance between electricity supply and demand. We hear a lot about “intermittency” as the problem with wind and solar, and grid storage as the solution to that, so being able to immediately switch on gigawatt-hours worth of installed storage capacity would certainly help to solve that problem. And we hope this law helps us get just a little closer to that potential future.


And if you want to sell power back to the grid today, you can already do that with home solar panels! In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. – ad*

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Industry first: Komatsu reveals power agnostic 320 ton haul truck

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Industry first: Komatsu reveals power agnostic 320 ton haul truck

Japanese equipment giant Komatsu dropped its new, 320-ton Power Agnostic 930E mining truck at MinsExpo trade show in Las Vegas, calling it a future-ready solution that can run on diesel, hydrogen, or pure electric power.

Komatsu continues to develop alternative engine technology with the release of its first commercial rigid-frame dump truck with a “power agnostic” platform for running on diesel, hydrogen, or even battery electric power.

That’s because the platform is designed around the concept of a modular powertrain. The design not only gives the Komatsu assembly line an easy way to build diesel, BEV, and hydrogen fuel cell rigid haulers on the same line, but also enables customers to upgrade from diesel to battery electric or hydrogen down the road, if and when whatever logistical obstacles that are preventing them from running an electric or hydrogen solution today are overcome.

“This platform enables mining companies to start with conventional diesel engines and gradually transition to cleaner energy sources as needed, including utilization of trolley assist for diesel or as one of the future dynamic charging solutions for battery trucks to reduce fuel consumption and emissions,” reads Komatsu’s press material. “Whether adopting battery technology, hydrogen fuel cell technology or a combination of energy systems, the Power Agnostic 930E provides the infrastructure and adaptability necessary to meet evolving sustainability goals.”

Potential customers got a sneak peek at the concept truck, which they were apparently allowed to test at Komatsu’s Arizona proving grounds ahead of MineExpo (I wasn’t invited). The first pre-production Power Agnostic 930E prototype will make its way to Sweden in the coming months, where it will be put to work alongside other electric Komatsu machines in Boliden’s Aitik copper mine, one of the largest such operations on the European continent.

Electrek’s Take

Komatsu Power Agnostic 930E; via Komatsu.

Converting gas and diesel-fueled cars to electric at scale is a concept that’s fraught with problems. Far too many to list here, in fact. But heavy equipment?

Everything from excavators to loaders to heavy trucks are already built to be powertrain agnostic, and manufacturers will often offer the same basic vehicle with Cummins, Detroit Diesel, or Volvo Pentapower, so there’s a degree of openness baked into those systems already. Komatsu is just taking that to the next level by adding a modularity of energy storage (fuel tanks, hydrogen cells, or battery packs) to the mix. And, if the project is successful, it could be the first of many.

SOURCE | IMAGES: Komatsu; Equipment World.

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isinwheel has an electric ride for everyone – check out these 6 standouts

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isinwheel has an electric ride for everyone – check out these 6 standouts

isinwheel’s terrific personal EVs “bring all the things you want closer to you.” Whether it’s an electric scooter, an e-bike, or an e-skateboard, the three things you’re guaranteed to get no matter which you choose are fun, safety, and affordability.

We’re taking a closer look below at six of isinwheel’s personal EVs – could one of these be your next electric ride?

Table of contents

isinwheel S9Pro commuting electric scooter

Meet the isinwheel S9Pro, the best value-for-money electric scooter that zips you through your day at speeds up to 19 mph with a range of 19 miles – perfect for your daily commute.

The S9Pro‘s powerful 350W motor delivers a smooth, efficient ride without breaking the bank. With a lightweight, foldable aluminum frame, it’s easy to carry, store, and even pop into your car trunk or onto public transport. Plus, the quick one-step folding mechanism makes it the ultimate on-the-go companion.

You can find the S9Pro on Amazon here.

isinwheel S10Max long-range electric scooter

The isinwheel S10Max is your ultimate high-performance ride, powered by a beastly 1000W motor that conquers any terrain with ease. With an impressive range of up to 37 miles, you can enjoy long-distance adventures without worrying about recharging.

The S10Max‘s all-terrain 10-inch off-road tires, paired with dual shock absorption, provide unbeatable grip and stability whether you’re cruising through city streets, on country paths, or on muddy trails.

You can find the S10Max on Amazon here.

isinwheel GT2 off-road electric scooter

isinwheel

Unleash your adventurous side with the isinwheel GT2. With a powerful 1000W motor, it rockets up to 28 mph, effortlessly conquering steep hills and challenging landscapes for a thrilling ride every time.

Its 11-inch off-road tires are built for all terrains, whether you’re cruising through the city or tackling rugged countryside paths. Plus, with four advanced shock absorbers, every ride is smooth and stable, no matter where your journey takes you. Get ready to ride the GT2 and experience performance like never before!

You can find the GT2 on Amazon here.

isinwheel M10 electric commuter bike

isinwheel

The isinwheel M10 electric commuter bike blends style with power. Crafted from lightweight, rust-resistant aluminum alloy, this sleek ride weighs just 47 pounds, making it easy to carry and tough enough to last.

With a professional 35-speed transmission, the M10 adapts to your every need, whether you’re accelerating, cruising downhill, or conquering steep inclines. With a 500W motor capacity, a top speed of 20 mph, 374 Wh battery capacity, and four hours of charging time, it’s the perfect blend of performance and convenience for your daily commute!

You can find the M10 on Amazon here.

isinwheel U1 folding electric bike

isinwheel

Say hello to the versatile isinwheel U1! With folding handlebars, pedals, and a height-adjustable seat, it’s perfect for easy storage and transport. The U1’s 500W motor comes with a smart chip that instantly adapts to give you that extra boost when you hit an incline, face a headwind, or carry more weight.

The U1 has a top speed of 18 mph, 280 Wh of battery capacity, and three hours of charging time. Whether you’re zipping through city streets or tackling hills, the U1 has you covered with power and portability.

You can find the U1 on Amazon here.

Check out isinwheel’s V8, V6 and V10 electric skateboards

The isinwheel V8 electric skateboard is your ticket to thrilling rides, featuring a top speed of 28 mph and a range of up to 12 miles. Its removable, detachable batteries allow for quick swaps, so you can extend your adventure with ease. Choose from four riding modes and let the gorgeous ambient lights make you stand out, whether you’re cruising in daylight or lighting up the night. With its powerful dual 540W motors and regenerative braking system, the V8 delivers a ride that’s as exhilarating as it is stylish.

The V8 is isinwheel’s first-gen electric skateboard, and we’ve also taken it to the next level. The V6 is perfect for teens and beginners, and the high-performance V10 is for those who crave more power. But we’re not stopping there – this September, we’re launching the V6 PRO, the ultimate cool ride for young skaters and newbies. Stay tuned; it’s going to be epic!

You can find the V8/V6/V10 on Amazon here.

Follow isinwheel on Instagram here, on X here, on YouTube here, and on Facebook here.

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