Donald Trump, before He called Bitcoin a scamWorld has launched a new cryptocurrency venture called Liberty Financial. “Crypto is one of the things we have to do,” he said in an interview with Channel X. “Whether we like it or not, I have to do it.” The news comes a day later alleged assassination attempt Against Trump on a golf course in Florida.
Trump sons Donald Trump Jr. and Eric Trump, along with two crypto-entrepreneurs: Chase Herro (who once called stablecoins a “borderline Ponzi scheme”) and Zachary Folkman, who founded a company called Date Hotter Girls. Trump’s 18-year-old son Barron Trump, who has no experience in cryptocurrency, is also listed as “chief DeFi.” [decentralized finance] visionary.”
The tokens themselves are supposedly based on USD stablecoins. Some involved in the venture have pitched it internally as a borrowing and lending platform The New York Times.
Cryptocurrency is generally supposed to be decentralized, but for World Liberty Financial, a large portion of the governance tokens may be held by insiders. CoinDesk. The remaining 30 percent will be distributed “through a public sale”, and a part of the money collected from it will go to the insiders of the project.
When asked about the facility in the X Spaces interview (above), Trump knew nothing about it. “It’s very important. It’s cryptocurrency. It’s artificial intelligence. It’s a lot of other things. Artificial intelligence needs big electrical capabilities more than anything I’ve ever heard of,” he said. He deferred to Barron’s experience, saying he had “four wallets” and likened it to learning a language like Chinese.
Some comments Spaces interview they were not friendly. “Let’s face it, Trump doesn’t even know what cryptocurrency is or why he’s being asked to delete it,” he said. Others pointed out that it was inappropriate to launch such an initiative on the eve of an election.
“I think this seriously hurts Trump’s election prospects, especially if he gets hacked (which would be the juiciest DeFi target ever and removed from the protocol he hacked),” said Nick Carter, a well-known crypto industry and self-proclaimed Trump supporter. a Type in X.
