Donald Trump is expected to reveal plans to position the US as the world leader in cryptocurrency, possibly with help from World Liberty Financial.
On August 29, the former president Donald Trump declared his intention to present a comprehensive plan aimed at making the United States the “crypto capital of the planet.”
Trump revealed the plan in a 17-second video he posted on his official X account along with the announcement.
.@worldlibertyfi pic.twitter.com/mwhVIzPJyq
— Donald J. Trump (@realDonaldTrump) August 29, 2024
Trump tagged World Liberty Financial in the post, which is a DeFi initiative that his sons are actively promoting.
The World Liberty Financial logo appeared at the end of the video, raising the possibility that the project is part of Trump’s larger plan.
World Liberty Financial’s Potential Role
Given World Liberty Financial’s involvement, it seems likely that this decentralized finance (DeFi) project will be crucial to his suggested course of action.
In order to address disparities in banking access, the sons of Donald Trump first declared their intention to introduce a new cryptocurrency platform called DeFi project in partnership with World Liberty Financial.
Although specifics are still pending, the platform, which they have named “The Defiant Ones,” aims to use the advantages of DeFi to subvert the established banking system.
DJT: For too long, the average American has been squeezed by the big banks and financial elites. It's time we take a stand—together. #BeDefiant https://t.co/DuEtfRfrjt pic.twitter.com/txPz5FVSsK
— Donald Trump Jr. (@DonaldJTrumpJr) August 22, 2024
As part of his larger agenda, Donald Trump has also endorsed the “The Defiant Ones” project.
World Liberty Financial warned users on their Telegram channel to be cautious of scams about an hour before Donald Trump posted.
“We have been made aware of some ads circulating on Telegram claiming to be from us, offering fake airdrops or token sales,” it said. “We are not doing any airdrops or selling any tokens at this time.”
Trump Family Goes Pro Crypto
The recent change in Donald Trump’s stance on cryptocurrencies and the resurgence of interest in them within the family are related. Though he used to call Bitcoin a “scam,” his opinion has changed.
He said on June 14 that if elected president, he would put an end to the “war on crypto” waged by the Biden administration.
In the past, Trump had also attacked Biden for taking a tough stance on cryptocurrencies, saying that the US should aim to lead the crypto sector.
As for Kamala Harris, the soon-to-be Democratic nominee, she has not stated anything regarding her position on digital finance.
Given President Biden’s position on regulating digital assets, some argue that her association with the Biden administration could damage her standing with the cryptocurrency community.
Recent reports, however, point to a possible willingness on her part to embrace cryptocurrencies.
With digital assets a key issue for nearly 20% of swing state voters, the stances of both Donald Trump and Kamala Harris on this topic could influence the election’s outcome.
The unpredictability surrounding the next US president is reflected in the current betting odds on Polymarket, which have Donald Trump and Kamala Harris tied at 49%.