Donald Trump Launched His Crypto Venture Ahead of 2024 Election

Former President Donald Trump has launched a new cryptocurrency venture called World Liberty Financial, aiming to reshape the digital currency world ahead of the 2024 presidential election.

Trump, along with his sons Barron, Eric, and Donald Trump Jr., unveiled the project during a livestream on X Spaces (formerly Twitter Spaces) on Monday.

World Liberty Financial focuses on promoting stablecoins, with a new digital currency called $WLFI set to be sold to the public. Despite previously criticizing cryptocurrencies, Trump has become an advocate on the campaign trail, speaking at industry events and gaining support from crypto executives.

In August, Trump announced another crypto platform, “The DeFiant Ones,” designed to challenge traditional banking systems.

However, the venture has faced issues, including accusations of missteps from Trump’s crypto allies, hacking incidents, and ties to a blockchain company that suffered security breaches.

World Liberty Financial plans to raise $540 million through a token sale, though concerns have arisen about 70% of the tokens being reserved for insiders.