Donald Trump Launches Crypto Business While Campaigning
Former President Donald J. Trump is no stranger to making headlines, but his latest announcement has caught the attention of both political and financial circles. On Thursday, Mr. Trump revealed that he is gearing up to launch a new cryptocurrency business. The timing of this move, with the presidential campaign in full swing, has intrigued […]
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by Mike Adams
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Former President Donald J. Trump is no stranger to making headlines, but his latest announcement has caught the attention of both political and financial circles. On Thursday, Mr. Trump revealed that he is gearing up to launch a new cryptocurrency business. The timing of this move, with the presidential campaign in full swing, has intrigued supporters and critics alike. Could this be a game-changer for both his political career and the crypto industry?
Embracing the Future: Trump’s Dive into Crypto
In a video shared on X (formerly Twitter), Donald Trump made it clear that he’s ready to shake things up. His new venture, a cryptocurrency platform called World Liberty Financial, will be unveiled in a livestream at 8 p.m. on Monday. In true Trump fashion, he didn’t mince words, declaring, “We’re embracing the future with crypto, and leaving the slow and outdated big banks behind.”
Though details were scarce in the initial announcement, one thing is certain: Trump is making a bold play to capitalize on the fast-growing world of digital currency. With two of his sons, Eric Trump and Donald Trump Jr., already promoting World Liberty Financial on the messaging app Telegram, the anticipation is growing. The platform’s Telegram channel is buzzing with updates, including the announcement that Mr. Trump will livestream from Mar-a-Lago, his famous Florida estate. Their slogan? “Get ready as we unveil our plan to Make Finance Great Again.”
A Presidential Candidate Starting a Business? Yes, Really.
If this move seems unconventional for a presidential candidate, that’s because it is. It’s rare for someone running for the highest office in the land to launch a new business, especially in such a volatile sector. But for Donald Trump, whose business interests have always been closely tied to his political persona, it’s not entirely surprising.
Throughout his political career, Trump’s ventures have sparked discussions about potential conflicts of interest, and this new crypto business is no different. Trump also owns a significant stake in Trump Media & Technology Group, the parent company of Truth Social, a conservative social media platform. However, recent reports show that the company’s stock has taken a nosedive, slashing the value of his investment by billions. Is World Liberty Financial a way to counterbalance this loss? Only time will tell.
Trump’s Shift Toward Crypto: From Skeptic to Supporter
Interestingly, Trump’s attitude toward cryptocurrency has taken a sharp turn. Just a few years ago, in 2021, he called Bitcoin a “scam.” But now, he’s singing a different tune. His campaign trail has featured promises to roll back the U.S. government’s crackdown on the crypto industry, which has been pushing for tighter regulations. In July, Trump even took the stage at the annual Bitcoin conference in Nashville, one of the biggest events in the crypto world, where he vowed to make the United States the “crypto capital of the planet.”
This pivot is working in his favor. Many high-profile figures in the crypto community have thrown their support behind Trump. The Winklevoss twins, Cameron and Tyler, co-founders of the Gemini exchange, have publicly backed him. A pro-crypto super PAC called Fairshake has raised over $150 million to support crypto-friendly candidates in Congress, bridging both Democrat and Republican lines. The crypto world’s embrace of Trump could signal a major shift in how this industry influences U.S. politics.
What Exactly Is World Liberty Financial?
So, what is World Liberty Financial all about? Details are still emerging, but a white paper obtained by CoinDesk offers some clues. According to the document, World Liberty Financial aims to provide a borrowing and lending service, complete with its own crypto token. Whether this will revolutionize finance or just be another digital currency among many remains to be seen.
Despite the fanfare, Trump’s team has remained tight-lipped. Neither representatives from World Liberty Financial nor the Trump campaign have responded to media requests for further clarification. This air of mystery, while building hype, also leaves plenty of room for skepticism. What exactly are the goals of this platform? How involved is Trump in its day-to-day operations? These questions still linger.
Crypto Community’s Mixed Reaction
Although Trump’s foray into the crypto world has certainly caught the attention of investors, not everyone is thrilled. Prominent voices within the crypto space have expressed concerns about the timing and potential risks of such a venture. Nic Carter, a well-known crypto venture capitalist, has been one of the loudest critics. In a post on X, he warned that launching World Liberty Financial during a presidential campaign could harm Trump’s election chances.
Carter didn’t hold back, writing, “It genuinely damages Trump’s electoral prospects, especially if it gets hacked. At best it’s an unnecessary distraction, at worst it’s a huge embarrassment and source of (additional) legal trouble.”
And he might have a point. Just this month, the X accounts of Trump’s daughter-in-law, Lara Trump, and his younger daughter, Tiffany Trump, were hacked. The attackers posted fake links to a fraudulent version of the World Liberty Financial website, tricking unsuspecting followers. Fortunately, the breach was quickly discovered, and Eric Trump jumped into action, denouncing the scam. But the incident is a reminder of the security challenges facing digital platforms—especially those as high-profile as Trump’s.
The Road Ahead: Crypto and Politics
As Trump prepares to formally unveil World Liberty Financial, the crypto industry is watching closely. Could this be the beginning of a new era where digital currency and politics are more deeply intertwined than ever? Or will this venture fade into the background, overshadowed by the whirlwind of a presidential campaign?
For Trump, this is just another chapter in his long history of blending business with politics. But whether this gamble will pay off remains uncertain. His supporters in the crypto world are hopeful, while critics are already sharpening their knives. One thing is clear: Donald Trump is once again proving that he’s not afraid to take risks—even when the stakes are as high as the Oval Office.
Experienced Developer with a demonstrated history of working in the computer software industry.
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