Trump Launches New Crypto Venture Amidst Controversy

A day after an alleged assassination attempt, former US president Donald Trump appeared on a livestream to promote his latest business venture: cryptocurrencies. "Crypto is something we must do," said the Republican candidate on the platform X. "Whether we like it or not, I have to get involved."

Alongside Trump were his close collaborators, including family friends, his two eldest sons, Donald Trump Jr. and Eric Trump, and two lesser-known crypto entrepreneurs with little experience managing high-profile businesses.

Details of World Liberty Financial and Concerns Raised

Together, they introduced Trump's new venture, World Liberty Financial, a project already sparking concerns about potential conflicts of interest. Trump has been promoting the venture since August, though its purpose remains somewhat unclear, with no official launch date announced. During the livestream, Trump left most of the details to entrepreneurs Chase Herro and Zachary Folkman. Herro refers to himself as "the dirtbag of the internet," while Folkman was once known for teaching classes on how to seduce women.

Despite his past skepticism about cryptocurrencies, including referring to Bitcoin as a “scam,” Trump has recently become a vocal supporter of crypto. The family’s new venture, World Liberty Financial, may serve as a borrowing and lending platform with a new cryptocurrency called $WLFI. The platform plans to drive the mass adoption of stablecoins, similar to the service Instadapp.

Trump’s sons, Eric and Donald Trump Jr., have been actively involved in the promotion of World Liberty Financial, alongside Trump himself, who holds the title of “chief crypto advocate.” Barron Trump, Trump's youngest son, is listed as the "DeFi visionary," responsible for the decentralized finance aspects of the venture.