Donald Trump introduces new cryptocurrency World Liberty Financial: Can it ‘make finance great again’?
Donald Trump, accompanied by his two eldest sons and several cryptocurrency entrepreneurs, announced a new digital currency initiative, World Liberty Financial, during a livestream event on Monday. This marks a dramatic shift in Trump’s stance on cryptocurrencies, as he had previously been critical of digital currencies during his earlier campaigns. The timing of the announcement, just months ahead of the U.S. presidential election, has raised eyebrows among supporters and critics alike.
Trump’s Crypto Shift
During the livestream on X (formerly Twitter), Trump, who was joined by his sons Donald Trump Jr. and Eric Trump, as well as entrepreneurs Chase Herro and Zachary Folkman, expressed the need to get involved in the growing digital currency market. “Crypto is one of those things we have to do. Whether we like it or not, I have to do it,” Trump said.
His remarks signal a complete turnaround from his previous position when he had called cryptocurrencies a “scam” and warned against their widespread adoption. Now, he seems to embrace the technology, positioning himself as a champion of digital assets. In his speech, Trump argued that the United States must take a leadership role in the global cryptocurrency industry to remain competitive. He warned that if the U.S. doesn’t act quickly, other nations could dominate. “If we don’t do it, China will. And if we’re not the biggest, we won’t be the best,” Trump explained during a conversation with crypto investor Farokh Sarmad.
What is World Liberty Financial
World Liberty
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