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Trump Launches Cryptocurrency Venture Amid Presidential Campaign
Explore Donald Trump’s latest venture into cryptocurrency as he launches a new platform amidst his presidential campaign. Discover how this move could reshape the political landscape and influence the digital currency market.
Trump Announces New Cryptocurrency Venture Amid Presidential Campaign
Former President Donald J. Trump revealed on Thursday that he is gearing up to launch a new cryptocurrency business, tapping into the multibillion-dollar crypto industry as he campaigns for the upcoming presidential election in November.
In a video shared on X, Mr. Trump announced that he will introduce the crypto platform World Liberty Financial during a livestream event scheduled for 8 p.m. on Monday. He stated, “We’re embracing the future with crypto, and leaving the slow and outdated big banks behind.”
The announcement was somewhat vague, lacking specific details about his involvement with the project. However, it is worth noting that his sons, Eric Trump and Donald Trump Jr., have actively promoted World Liberty Financial in recent weeks, sharing links to a Telegram channel that provides updates on the initiative.
A post on the World Liberty Financial Telegram channel on Thursday indicated that Mr. Trump would be broadcasting from his Mar-a-Lago estate, a country club located in Palm Beach, Florida. The post excitedly declared, “Get ready as we unveil our plan to Make Finance Great Again.”
This venture is unusual for presidential candidates, particularly during an active campaign, and it raises potential concerns regarding conflicts of interest given Mr. Trump’s history of intertwining business and politics. In addition to World Liberty Financial, he holds a significant stake in Trump Media & Technology Group, the parent company of the conservative social media platform Truth Social. Recently, the stock of this company has experienced a significant decline, resulting in a multi-billion dollar decrease in the value of his shares.
World Liberty Financial represents Mr. Trump’s latest attempt to align himself with the cryptocurrency sector. While on the campaign trail, he has pledged to halt what he calls a government crackdown on the industry, which has sought to impose stricter regulations on digital currencies. In July, he made headlines by speaking at the annual Bitcoin conference in Nashville, a major event in the crypto calendar, where he promised to position the United States as “the crypto capital of the planet.”