Donald Trump Ventures into Cryptocurrency with World Liberty Financial
11 Sources
11 Sources
[1]
Donald Trump Seems Completely Baffled by His Own Crypto Project
With just six weeks until Election Day, Donald Trump has launched a brand new family cryptocurrency venture -- and it's unclear if he even knows how crypto even works. As the New York Times reports, Trump waxed vague and prolific during his lengthy livestream on X-formerly-Twitter announcing the new stablecoin project, known as World Liberty Financial, which the presidential hopeful is launching alongside his three sons. "Crypto is one of those things we have to do," Trump prevaricated during the chat. "Whether we like it or not, I have to do it." That's a far cry from his former stance that crypto is a "scam" -- but what's perhaps funniest about the entire endeavor is that despite his complete flip-flop on the subject, it doesn't appear that the real estate mogul has any real understanding of what he's selling. Indeed, as pundit Aaron Rupar noted on the Elon Musk-owned social network, Trump seems to have "absolutely no clue what crypto is." Instead of offering the kinds of fuzzy platitudes that make up the rest of his incongruent political platform, the Republican presidential nominee just seemed to be saying random high-tech sounding words in hopes that something would land. "Well, it's crypto, it's AI, it's some of the other things," Trump said. "You know, AI, speaking of an interesting future, it needs tremendous electricity capability, beyond anything I've ever heard." Strangely enough, the third-time presidential hopeful seemed to have a better grasp of what crypto is and how it works back when he was against it. When he was in office the first time around, Trump derided the digital tokens as "not money" and said their "value is highly volatile and based on thin air." "Unregulated Crypto Assets can facilitate unlawful behavior," he continued in the same tweet, "including drug trade and other illegal activity." Now that his tune has changed so tremendously Trump is not only the owner of millions of dollars worth of these "unregulated" assets but also seems to be getting millions in campaign donations via crypto as well. Between being twice impeached and becoming the first former president in US history to be found guilty of a felony over his "hush money" payments to porn actress Stormy Daniels, it seems mighty risky for Trump to be embarking on yet another dubious financial scheme this close to the election. Then again, this is the guy who said he could shoot someone in the middle of Fifth Avenue without losing voters -- and unfortunately, at this point he just might be right.
[2]
Trump jumps into cryptocurrency, appears to know nothing about it
Donald Trump, who previously called Bitcoin a scam, has launched a new cryptocurrency venture called World Liberty Financial. "Crypto is one of those things we have to do," he said in an interview on X. "Whether we like it or not, I have to do it." The news comes just a day after a likely assassination attempt against Trump at his Florida golf course. Trump is entering the venture with his sons Donald Trump Jr. and Eric Trump, along with two crypto entrepreneurs: Chase Herro (who once called stablecoins "borderline a Ponzi scheme") and Zachary Folkman, who founded a company called Date Hotter Girls. Trump's 18-year-old son Barron Trump, who has no known crypto expertise, is also listed as "chief DeFi [decentralized finance] visionary." The tokens themself are supposedly based on US dollar stablecoins. Some involved in the venture have touted it internally as a borrowing and lending platform, according to The New York Times. Cryptocurrency is generally supposed to be decentralized, but a large chunk of the governance tokens for World Liberty Financial could be held by insiders, according to a draft white paper for the project seen by CoinDesk. The remaining 30 percent would be distributed "via public sale" with some of the money raised from that also going to project insiders. When asked questions about the venture in an X Spaces interview (above), Trump appeared to know next to nothing about it. "It's so important. It's crypto. It's AI. It's so many other things. AI needs tremendous electricity capabilities beyond anything I ever heard," he said. He deferred to Barron's expertise, saying he has "four wallets" and equated it to learning a language like Chinese. Some comments in the Spaces interview weren't kind. "Let's be honest Trump doesn't even know what crypto is or why he's being asked to shill it," said one. Others noted that launching such a venture just ahead of an election was inappropriate. "I think it genuinely damages trump's electoral prospects, especially if it gets hacked (it'll be the juiciest DeFi target ever and it's forked from a protocol that itself was hacked)," said crypto industry notable and self-proclaimed Trump supporter Nic Carter in a post on X.
[3]
Trump launches new cryptocurrency venture but declines to share details
Ex-president unveils World Liberty Financial and publicly addresses second apparent assassination attempt Donald Trump launched his family's cryptocurrency venture, World Liberty Financial, on a livestreamed interview on the social media platform X on Monday. The Republican presidential nominee gave few details about the venture but did offer his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial on Monday or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence and other topics. Instead, he recounted his experience on Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five. "I would have loved to have sank that last putt," Trump continued. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr, talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling, the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019: "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to election day. He attended a bitcoin conference in Nashville this year, promising to make the US the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Kamala Harris's campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including New York senators Chuck Schumer and Kirsten Gillibrand, participated in an online Crypto 4 Harris event in August. Neither Harris nor members of her campaign staff attended the event.
[4]
Donald Trump doesn't share details about his family's cryptocurrency venture during X launch event
Donald Trump has launched a cryptocurrency venture called World Liberty Financial amidst his presidential campaign. The venture aims to offer borrowing and lending services for trading cryptocurrencies. Trump, who previously criticized cryptocurrencies, now supports them and has integrated them into his campaign strategy. Experts warn of potential ethical conflicts with a candidate launching a business during an election.epublican presidential nominee Donald Trump launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial on Monday or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favourable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the US the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was sceptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event. (AP) GRS GRS
[5]
Trump introduced new crypto venture without offering any details -- but did discuss apparent assassination attempt
Republican presidential nominee Donald Trump on Monday launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the U.S. the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event.
[6]
Donald Trump doesn't share details about his family's cryptocurrency venture during X launch event
WASHINGTON -- WASHINGTON (AP) -- Republican presidential nominee Donald Trump on Monday launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the U.S. the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event. ____ Gomez Licon contributed from Fort Lauderdale, Florida.
[7]
Donald Trump doesn't share details about his family's cryptocurrency venture during X launch event
WASHINGTON (AP) -- Republican presidential nominee Donald Trump on Monday launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the U.S. the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event. Gomez Licon contributed from Fort Lauderdale, Florida.
[8]
Donald Trump doesn't share details about his family's cryptocurrency venture during X launch event
WASHINGTON (AP) -- Republican presidential nominee Donald Trump on Monday launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the U.S. the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event. ____ Gomez Licon contributed from Fort Lauderdale, Florida.
[9]
Donald Trump Doesn't Share Details About His Family's Cryptocurrency Venture During X Launch Event
WASHINGTON (AP) -- Republican presidential nominee Donald Trump on Monday launched his family's cryptocurrency venture, World Liberty Financial, with an interview on the X social media platform in which he also gave his first public comments on the apparent assassination attempt against him a day earlier. Trump did not discuss specifics about World Liberty Financial or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf "heard shots being fired in the air, and I guess probably four or five." "I would have loved to have sank that last putt," Trump said. He credited the Secret Service agent who spotted the barrel of a rifle and began firing toward it as well as law enforcement and a civilian who he said helped track down the suspect. World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of Bitcoin and other currencies. Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives. Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts. "Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it," Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington, said earlier this month. During his time in the White House, Trump said he was "not a fan" of cryptocurrency and tweeted in 2019, "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." However, during this election cycle, he has reversed himself and taken on a favorable view of cryptocurrencies. He announced in May that his campaign would begin accepting donations in cryptocurrency as part of an effort to build what it calls a "crypto army" leading up to Election Day. He attended a bitcoin conference in Nashville this year, promising to make the U.S. the "crypto capital of the planet" and create a bitcoin "strategic reserve" using the currency that the government currently holds. Hilary Allen, a law professor at American University who has done research on cryptocurrencies, said she was skeptical of Trump's change of heart on crypto. "I think it's fair to say that that reversal has been motivated in part by financial interests," she said. Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House. Meanwhile, Vice President Kamala Harris' campaign has not offered policy proposals on how it would regulate digital assets like cryptocurrencies. In an effort to appeal to crypto investors, a group of Democrats, including Sens. Chuck Schumer and Kirsten Gillibrand of New York, participated in an online "Crypto 4 Harris" event in August. Neither Harris nor members of her campaign staff attended the event. ____ Gomez Licon contributed from Fort Lauderdale, Florida. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
[10]
Trump talks up World Liberty Financial crypto exchange, but many questions remain
Former President Donald Trump on Monday announced his latest business venture, a cryptocurrency platform called World Liberty Financial that will be controlled by sons Donald Trump Jr. and Eric Trump. Trump's announcement, streamed on X from his Mar-a-Lago resort in Palm Beach, Florida, marked his first appearance since an apparent assassination attempt at his Florida golf course on Sunday. With Trump disclosing few specifics about World Liberty Financial, details about the platform, which is not yet live, remain scarce. Typically, crypto exchanges are platforms where investors can buy and sell digital currencies, similar to how a traditional stock exchange operates. Crypto exchanges often charge fees to withdraw bitcoin and other digital currencies. During the hours-long announcement, Trump didn't disclose how World Liberty Financial would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Other speakers during the event, including his eldest son, Don Jr., discussed embracing cryptocurrency as an alternative to what they contend is a banking system tilted against conservatives. About two hours into the livestream, executives behind the venture, who include entrepreneurs Chase Herro and Zachary Folkman, revealed who can buy World Liberty tokens, called WLFI, and how shares of the project will be allotted. A fifth of WLFI tokens will be reserved for the project's founding team, including the Trumps, while 17% are set aside for user rewards, Folkman said. The remaining 63% of tokens will be sold to the public. He also urged potential investors to follow World Liberty Financial on X for more details, which he said would be coming soon. Trump, who was interviewed during the event by Farokh Sarmad, a Montreal-based cryptocurrency entrepreneur and self-described "crypto bro," reiterated that he wants America to become the crypto capital of the world. The former president also warned that if the U.S. doesn't lean into the digital currency, China will fill the void. "We have to be No. 1. I think AI is really important, but I think crypto is one of those things we have to do," Trump said. Trump added that his kids, including 18-year-old son Barron, a freshman at New York University, are knowledgeable about crypto. "Barron knows so much about this. He talks about his wallet. He's got four wallets, or something. He knows this stuff inside out," Trump said. Trump, who once called cryptocurrency "a scam," has since reversed course. While millions of Americans have invested in or traded cryptocurrencies, young men tend to be most attracted to the digital assets, data from Pew Research Center shows. Forty-three percent of American men ages 18 to 20 say they have invested in, traded or used cryptocurrency, compared to 16% of the general population.
[11]
Donald Trump launches cryptocurrency venture World Liberty Financial
Trump did not discuss specifics about World Liberty Financial on Monday or how it would work, pivoting from questions about cryptocurrency to talking about artificial intelligence or other topics. Instead, he recounted his experience Sunday, saying he and a friend playing golf heard shots being fired in the air, and I guess probably four or five.
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Former President Donald Trump has announced his family's entry into the cryptocurrency market with World Liberty Financial. The venture, shrouded in mystery, has sparked curiosity and skepticism in the financial world.
Trump's Foray into Cryptocurrency
Former U.S. President Donald Trump has made a surprising move into the world of cryptocurrency with the launch of World Liberty Financial. The announcement, made during a live event on X (formerly Twitter), has sent ripples through both the political and financial spheres
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.Mysterious Launch and Limited Details
Despite the high-profile nature of the announcement, Trump provided scant details about the venture. The former president, known for his previous skepticism towards cryptocurrencies, offered little insight into the specifics of World Liberty Financial or its underlying technology
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.Family Involvement and Potential Conflicts
The venture is reportedly a family affair, with Trump's son Eric taking a leading role. However, the extent of involvement from other family members, including Donald Trump Jr., remains unclear. This family-centric approach has raised questions about potential conflicts of interest and regulatory scrutiny
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.Market Reaction and Skepticism
The cryptocurrency market has responded with a mix of curiosity and skepticism. Experts have pointed out that Trump's previous statements against cryptocurrencies, particularly Bitcoin, stand in stark contrast to his current venture. This apparent contradiction has led to speculation about the motivations behind World Liberty Financial
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Regulatory Concerns and Future Prospects
As the project moves forward, it faces potential regulatory hurdles. The Securities and Exchange Commission (SEC) has been increasingly vigilant in its oversight of cryptocurrency ventures, particularly those associated with high-profile figures. The lack of transparency surrounding World Liberty Financial may attract additional scrutiny from regulators
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.Impact on Trump's Political Future
The launch of World Liberty Financial comes at a time when Trump is considering another presidential run. Political analysts are closely watching how this venture might impact his campaign and public perception. The intersection of politics, family business, and cryptocurrency presents a unique and potentially volatile mix in the lead-up to the next election cycle
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