In a surprising move that blends politics with the burgeoning world of cryptocurrency, former President Donald Trump has announced his intention to unveil a new crypto platform called World Liberty Financial. Set to launch via a livestream from Mar-a-Lago on Monday at 8 p.m., this venture marks Trump’s most significant foray into the digital currency space, a sector he once criticized but now enthusiastically embraces.
The announcement, made through a video posted on X (formerly Twitter), positions Trump as a champion of financial innovation, with the former president declaring, “We’re embracing the future with crypto, and leaving the slow and outdated big banks behind.” While details remain scarce, the project appears to involve a borrowing and lending service with its own crypto token, according to a white paper obtained by CoinDesk. Trump’s sons, Eric and Donald Jr., have been actively promoting the venture on social media platforms, particularly through a dedicated Telegram channel.
This bold move into cryptocurrency comes at a crucial time in Trump’s presidential campaign, as he aggressively courts the multi-billion dollar crypto industry for political support. His newfound enthusiasm for digital currencies represents a stark reversal from his 2021 statement that Bitcoin “seems like a scam.” The shift has not gone unnoticed by crypto executives, with several, including the Winklevoss twins, making significant donations to Trump’s campaign. However, the timing and nature of the venture have raised eyebrows, with some critics questioning the appropriateness of a presidential candidate launching a new business mid-campaign.
The announcement has sparked mixed reactions within the crypto community. While some view it as a positive sign for the industry’s mainstream acceptance, others express concerns about potential risks and distractions to Trump’s campaign. The project has already faced challenges, with unauthorized posts appearing on family members’ social media accounts, highlighting the security risks inherent in high-profile crypto ventures. As Trump continues to navigate the intersection of politics and cryptocurrency, the launch of World Liberty Financial will undoubtedly be closely watched by supporters, critics, and industry observers alike.
