Jai Sahu
Donald Trump introduced a new crypto platform, World Liberty Financial, with his sons promoting it across social media. Despite once being critical of Bitcoin, Trump has now embraced the crypto space, offering a governance token for accredited investors.
On September 16, Donald Trump and his sons, Donald Jr. and Eric, promoted the launch of the platform, World Liberty Financial, on X Spaces, as reported by Bloomberg.
World Liberty Financial is focused on decentralized finance (DeFi), aiming to boost financial security and facilitate peer-to-peer transactions, according to the report.
“It’s an issue that needed to be solved, and I believe this is the answer,” Donald Jr. remarked.
DeFi allows individuals to trade, lend, and borrow digital assets without intermediaries, utilizing automated software, Bloomberg noted.
Trump’s Shift in Crypto Stance
Once a skeptic of Bitcoin, labeling it a “scam,” Trump has shifted his position on digital assets amidst a competitive US presidential race.
Trump’s campaign now includes appeals for donations and support, leveraging his pro-crypto message. He even vowed to make the US the “crypto capital of the world” during the campaign.
Trump’s Vision for US Leadership in Crypto
“We will make the US the leader in crypto. If we don’t, China will. They’re already moving forward, and if we fail to act, we won’t be the best or the biggest,” Trump declared during a two-hour livestream on X Spaces.
The push aligns with Trump’s pro-crypto platform, as noted by Campbell Harvey, a finance professor at Duke University. “Supporting crypto is one thing, but launching a company in the space solidifies his stance,” Harvey told Bloomberg.