Trump Announces New Cryptocurrency Venture and Plan to Make the U.S. the 'Crypto Capital of the Planet'

Former President Donald Trump announced the motorboat of a caller cryptocurrency venture, World Liberty Financial, during an X livestream connected Monday.

Trump was joined by Steve Witkoff, a existent property magnate who helped spearhead World Liberty Financial, 2 of Trump's sons, Donald Trump Jr. and Eric Trump, arsenic good arsenic 2 entrepreneurs, Chase Herro and Zachary Folkman.

Trump explained, "Crypto is 1 of those things we person to do. Whether we for illustration it aliases not, I person to do it." He did not talk specifics astir World Liberty Financial, but AP News reports that it is expected to beryllium a borrowing and lending work utilized to waste and acquisition cryptocurrencies. (Digital coins tin beryllium traded without relying connected the world banking system, and exchanges often complaint fees.)

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A achromatic paper, reviewed by The New York Times, said World Liberty Financial would characteristic a caller cryptocurrency called $WLFI that would beryllium sold to the public. The insubstantial lists Trump's title arsenic "chief crypto advocate," Barron Trump arsenic "DeFi visionary," and Eric Trump and Donald Trump Jr. arsenic "web3 ambassadors." A disclaimer said the level wasn't owned aliases managed by Trump, his family aliases his organization, but that family members mightiness person compensation.

In a video station connected X, the erstwhile President declared: "This day I americium laying retired my scheme to guarantee the United States will beryllium the crypto superior of the planet," Trump said successful a video posted connected X. "They want to choke you. They want to choke you retired of business. We're not going to fto that happen."

.@worldlibertyfi pic.twitter.com/mwhVIzPJyq

While serving arsenic President, Trump was a professional of cryptocurrency. In 2019, he tweeted, "Unregulated Crypto Assets tin facilitate unlawful behavior, including supplier waste and acquisition and different forbidden activity." But arsenic AP News reports, Trump began accepting crypto run donations successful May, hoping to build a "crypto army" of supporters.