Donald Trump, the former U.S. President and 2024 Republican presidential hopeful, is making headlines again with his entry into the cryptocurrency space. Trump has announced that his new crypto platform, World Liberty Financial, will launch on September 16. The platform, which will be managed by his sons, Donald Trump Jr. and Eric Trump, is touted as a decentralized finance (DeFi) venture.
In a recent video, Trump declared that his project would challenge the “slow and outdated” traditional banks by embracing digital assets. The platform will offer a range of services, including digital wallets, a credit system, and token-based investment opportunities. There are also hints of a partnership with DeFi giant Aave, suggesting it might operate on the Ethereum blockchain. World Liberty Financial aims to popularize the use of stablecoins pegged to the US dollar.
However, reactions to Trump’s foray into the crypto world have been mixed. Critics question the timing of the launch, just 50 days before the election. Notable Trump supporter Nic Carter criticized the move as a “huge mistake,” suggesting it might damage Trump’s rapport with the crypto community.
The project has already attracted negative attention, with hackers targeting Trump’s family members’ social media accounts and scammers circulating fake links. A series of false promotions and giveaways have also been discredited by the official World Liberty Financial channels.
As Trump prepares for the platform’s debut, many are left wondering if this venture will solidify his support in the crypto space or backfire as a risky political gambit.