Trump cryptocurrency venture/ Trump family crypto business/ World Liberty Financial launch/ Newslooks/ WASHINGTON/ Former President Donald Trump plans to promote his sons’ new cryptocurrency platform, World Liberty Financial, just 50 days before Election Day. The move highlights his blend of political and business interests as he campaigns for the presidency. Trump has shifted from opposing cryptocurrency to embracing it, proposing the U.S. become a global crypto hub.
Trump to Launch Sons’ Crypto Business – Quick Looks
- Trump will launch World Liberty Financial, a crypto platform run by his sons Donald Jr. and Eric.
- The speech will take place 50 days before Election Day, showcasing his continued mix of business and politics.
- Trump plans to position the U.S. as the “crypto capital of the planet” if elected, raising concerns about potential government involvement in his family business.
- Trump has reversed his earlier opposition to cryptocurrency, now advocating for a national Bitcoin reserve.
- The event will be broadcast on X (formerly Twitter) from Mar-a-Lago.
Trump to Launch Sons’ Crypto Platform Amid Campaign
Deep Look
Former President Donald Trump is set to promote his sons’ new cryptocurrency venture, World Liberty Financial, in a speech next Monday, just 50 days before the presidential election. The crypto platform, overseen by his sons Donald Trump Jr. and Eric Trump, marks another example of Trump’s blending of business with his political career. Despite the limited time remaining in his campaign, Trump is dedicating part of it to advancing a family business, continuing his long history of mixing political activities with personal ventures.
“We’re embracing the future with crypto and leaving behind the slow, outdated big banks,” Trump said in a video posted on Thursday. His speech, scheduled for 8 p.m. EDT at his Mar-a-Lago residence, will be livestreamed on X (formerly Twitter), the same platform where he has made many of his 2024 campaign announcements.
Cryptocurrency, a form of digital money that operates independently of traditional banking systems, has gained traction over recent years. These digital assets can be traded on online platforms, which often charge fees for facilitating transactions in U.S. dollars and other currencies. World Liberty Financial is entering this booming market, and Trump’s involvement in its launch has drawn attention given its proximity to Election Day.
While Trump opposed cryptocurrencies during his time in the White House, he has since changed his stance. Now, as part of his presidential platform, Trump has vowed to turn the United States into the global leader in cryptocurrency. His campaign has even proposed creating a national Bitcoin reserve, positioning the U.S. to dominate the sector. Additionally, Trump has promised to block the development of a Central Bank Digital Currency (CBDC), a digital version of government-backed money that the Federal Reserve has considered exploring.
Trump’s public support for cryptocurrency contrasts sharply with his earlier skepticism. During his presidency, Trump criticized the technology, expressing concerns about its potential risks to the financial system. But as digital currencies have grown in popularity, he has warmed to their potential, particularly as a tool for his campaign’s economic vision.
However, his pledge to promote the cryptocurrency sector raises concerns about the overlap between his political role and his family’s business interests. Critics worry that, if elected, Trump could potentially use the federal government’s resources to benefit ventures like World Liberty Financial. His long-standing practice of intertwining politics with personal business ventures has been a hallmark of both his previous presidency and his 2024 campaign, which has seen him marketing everything from sneakers to Trump-branded Bibles.
Trump’s embrace of cryptocurrency is part of a broader effort to differentiate himself from his political opponents while appealing to younger and more tech-savvy voters. His sons’ venture is poised to take advantage of growing interest in digital assets, even as the regulatory environment surrounding cryptocurrency remains uncertain.
As the campaign countdown continues, Trump’s involvement in World Liberty Financial serves as a reminder of how his political and business worlds often overlap. It remains to be seen how voters will respond to this latest venture in the final stretch of the 2024 election campaign.
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