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Republican presidential candidate Donald Trump will unveil his new cryptocurrency platform on Tuesday, which will be run by his sons, after his keen interest in the field since launching his last presidential campaign, despite his rejection of cryptocurrencies during his previous term in office..
Trump is expected to officially launch the platform under the name World Liberty Financial“We are embracing the future with cryptocurrencies, leaving the big, slow, and decrepit banks behind,” he said in a video posted earlier on his official account.».
Initially, the platform was called The DeFiant Ones When Trump announced it on the website Truth Social In August, he wrote, “For too long, the average American has been under pressure from big banks and financial elites,” adding, “It’s time to take a stand together.”».
CoinDesk reported, citing an anonymous source familiar with the company’s plans, that the platform will work similarly to other systems such as Coinbase andGemini andBinancewhich charges users fees for trading cryptocurrencies, and may include its own token, referred to as WLFI.
The Trump family has revealed few details about how it works. World Liberty FinancialEric Trump said the startup would promote “financial independence,” while Donald Trump Jr. said it would “make finance great again.”».
The former president’s youngest son, Barron Trump, is set to be the project’s “DeFi visionary,” according to a report obtained by CoinDesk..
The company is considered World Liberty FinancialThe Trump Foundation, which will be run by his sons Donald Trump Jr. and Eric Trump, is the latest move to focus on cryptocurrencies; it represents a reversal of the former president’s stance on cryptocurrencies during his time in office, when he described them in 2019 as “very volatile and based on the wind.”».
