Former President Donald Trump’s son, Barron Trump, has been named to an unusual position as the family enters the cryptocurrency market. Is it just to target Gen Z?
The cryptocurrency project called World Liberty Financial is set to launch on September 16.
“We are embracing the future with crypto and leaving behind the slow, outdated big banks,” Trump said in a video posted to X. “Join me live at 8 p.m.”
The launch of World Liberty Financial represents the family’s first significant foray into decentralized finance (DeFi), a sector of cryptocurrency focused on peer-to-peer financial services without traditional intermediaries like banks.
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Eric and Donald Jr. lead the Barron Project alongside them
The project is led by Trump’s sons, Eric Trump and Donald Trump Jr., but in a surprising move, 18-year-old Barron Trump has been named “chief DeFi visionary.” But isn’t it odd that Barron, not because of his age but because the younger Trump has no prior experience in the world of finance or cryptocurrencies?
Several investigative reports suggest that the real driving force behind the company may not be the Trump family, but rather a controversial figure in the crypto world named Chase Herro.
Herro, who once called himself an “internet scumbag,” has a shady past. He has promoted questionable products such as “colon cleansers” for weight loss and get-rich-quick schemes. His connection to the Trump family’s cryptocurrency business has raised concerns about the project’s legitimacy and long-term intentions.
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The project’s white paper, obtained by CoinDeskprovides additional details on a “credit account system.” World Liberty Financial plans to operate on the Aave platform, built on the Ethereum blockchain, and aims to create a decentralized borrowing and lending system. It aims to create dollar-pegged stablecoins, with the stated goal of ensuring that the “dominance of the U.S. dollar continues” in the digital world.
Earlier this year, Barron was linked to DJT coin, a digital currency that crashed following criticism and scrutiny from the cryptocurrency community.
