Trump Wants to Make the US the ‘Cryptocurrency Capital.’ He Has a New Idea
Donald Trump has announced the launch of a family cryptocurrency venture, World Liberty Financial. The company is to offer cryptocurrency lending and trading services. According to his son, Donald Trump Jr., it is to be an alternative to a banking system allegedly hostile to conservatives.
During his tenure in the White House, Donald Trump has made it known that he is not a “supporter” of cryptocurrencies. In 2019, he tweeted, “Unregulated assets can facilitate illegal activities, including drug trafficking.” However, he has changed his mind during his current campaign.
Trump Wants to Trade Cryptocurrencies, Establishes World Liberty Financial
In May, he announced that his campaign would begin accepting donations in cryptocurrency, according to The Guardian. He also attended a bitcoin conference in Nashville this year, promising to make the US the “cryptocurrency capital” and create a “strategic bitcoin reserve” using the currency the government currently holds.
World Liberty Financial, whose establishment was announced by Trump during a speech reported on Profile X, is to be a lending and credit service using cryptocurrency trading. These can be exchanged online without relying on the global banking system.
Other speakers after Trump, including his eldest son Don Jr., have spoken of embracing cryptocurrencies as an alternative to what they see as a banking system rigged against conservatives.
Experts talk about ethical conflicts
Asked for comment, experts pointed out that a presidential candidate starting a business during the campaign could create ethical conflicts.
“It’s not necessarily worrisome for a presidential candidate to take a pro-cryptocurrency stance, but it is worrisome to do so while also seeking personal gain from it,” Jordan Libowitz, spokesman for the Washington-based government watchdog group Citizens for Responsibility and Ethics, said earlier this month.
Trump thanks for thwarting attack
During the X broadcast, Trump also addressed another assassination attempt on his life that occurred last Sunday near his Florida golf course. He said he and a friend who was playing golf at the time “heard shots fired in the air, probably four or five.” He also thanked the Secret Service agent who responded to the shooter and a civilian who he said helped track down the suspect.
