Donald Trump Plans to Make the US the ‘Crypto Capital of the Planet’
Date: 2024-08-30 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Former President Donald Trump announced on August 29 that he would unveil a comprehensive plan to make the US the “crypto capital of the planet.”
He made the announcement in a post on his official X social media account, where he shared a 17-second video hinting at his future strategy. In the post, Trump tagged World Liberty Financial, a DeFi project that his sons have been actively promoting. The video ends with the World Liberty Financial logo, indicating the project’s possible involvement in Trump’s broader agenda.
Possible Role for World Liberty Financial
World Liberty Financial’s involvement suggests that the DeFi project could play a significant role in Trump’s proposed strategy. Donald Trump’s sons previously announced plans to launch a new cryptocurrency platform with World Liberty Financial to combat inequality in access to banking services.
The platform, which they call “The Defiant Ones,” aims to leverage the power of DeFi to combat the traditional banking system, though specific details have yet to be revealed.
Donald Trump has also backed “The Defiant Ones” as part of his broader agenda.
About an hour before Donald Trump’s post, World Liberty Financial issued a warning on its Telegram channel urging users to beware of scams. “We have become aware of some ads on Telegram purporting to be from us offering fake airdrops or token sales,” the post read. “We are not conducting any airdrops or selling tokens at this time.”
Trump Family Backs Cryptocurrency
This new interest in crypto from the family coincides with a recent shift in Donald Trump’s stance. Despite previously calling Bitcoin a “fraud,” his stance has softened.
On June 14, he said that if he became president, he would end the Biden administration’s “war on crypto.” Trump has also previously criticized Biden for his hardline stance on cryptocurrencies, stressing that the US should strive to be a leader in the crypto industry.
Meanwhile, future Democratic candidate Kamala Harris has remained silent on her stance on digital finance. Critics have suggested that her association with the Biden administration and his stance on digital asset regulation could hinder her relationship with the crypto community. However, recent reports suggest Harris may be open to embracing cryptocurrencies.
With digital assets a key issue for nearly 20% of swing state voters, Donald Trump and Kamala Harris’ stances on the topic could impact the outcome of the election. Current odds on Polymarket show Kamala Harris and Donald Trump neck and neck at 49%, reflecting the uncertainty surrounding the next US president.
