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8mo ago

Trump to Launch Family's Crypto Project 'World Liberty Financial'

The former president's new venture, led by his sons, aims to revolutionize finance but faces skepticism and confusion within the crypto community.

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Former President of the United States Donald Trump speaking with attendees at the Republican Jewish Coalition's 2023 Annual Leadership Summit at the Venetian Convention & Expo Center in Las Vegas, Nevada.
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Overview

  • Donald Trump will unveil the World Liberty Financial crypto project on Monday, September 16, in a live address on X.
  • The project, managed by Trump's sons Donald Jr. and Eric, aims to challenge traditional banking by embracing decentralized finance (DeFi).
  • Trump's involvement in DeFi has raised concerns among Bitcoin advocates who fear it may confuse his conservative base about the distinctions between Bitcoin and other cryptocurrencies.
  • The announcement has led to a surge in betting odds on Polymarket, with an 84% chance that Trump will issue a verifiable token before the November election.
  • Skeptics warn that the project could face significant risks, including potential scams and cyberattacks, which have already plagued its early stages.