- Donald Trump acknowledges crypto as a powerful industry.
- Trump believes in crypto and stresses the importance of stringent regulations.
- Trump launches World Liberty Financial, an innovative crypto and DeFi project.
Former U.S. President Donald Trump’s latest involvement in the crypto space comes with the launch of his decentralized finance (DeFi) venture, World Liberty Financial.
With the U.S. presidential election set for November 2024, Trump reaffirmed his positive outlook on crypto at the launch, reaffirming his belief in crypto. He termed the industry as “still young and expanding,” adding cryptocurrency is inevitable and that engagement is essential, regardless of individual views.
On August 25, World Liberty Financial X handle went live with a message, “It’s time to make finance great again!”—a nod to Trump’s campaign slogan. Trump’s sons, Eric and Donald Trump Jr., have also thrown their support behind the project, which they believe could signal the rise of a major crypto initiative.
On September 13, Trump posted a video on X declaring his shift from traditional banking to the crypto world. While details of the venture remain unclear, Donald Trump, Jr., hinted that the project aims to offer financial solutions to those who face challenges obtaining loans from conventional banks.
Despite the enthusiasm, a few within the community stayed cautious. Crypto venture capitalist and Trump supporter Nic Carter expressed concerns, warning that the venture could damage Trump’s reputation if it fails. He noted that while the project holds potential, the risks for Trump’s campaign are significant.
Read also: Trump’s Crypto Courtship Pays Off: 50% of Crypto Owners to Vote for Him
Trump has consistently backed crypto during the 2024 campaign, even after previously opposing it. He embraced the title of “crypto president” and began accepting Bitcoin donations. At the recent Bitcoin Conference in Nashville, he made headlines by declaring Bitcoin as the nation’s reserve currency.
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