Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,149)
  • Analysis (1,351)
  • Bitcoin (1,924)
  • Blockchain (1,114)
  • DeFi (1,322)
  • Ethereum (1,317)
  • Event (48)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,362)
  • Reddit (576)
  • Regulation (1,268)
  • Security (1,819)
  • Thought Leadership (1)
  • Uncategorized (3)
  • Videos (39)
Hand picked
  • What’s the most reliable crypto DeFi wallet in 2025?
  • Coinbase Revenue from XRP Tops ETH, Sol AS Holdings Saar 458% – Is the XRP price ready for the break?
  • The CEO of cryptochus says it is time to throw the “cycle theory”
  • Meta Exploration of Stablecoin payments for its products: report
  • Lyon, France – Interpol’s new opinion is Silver (Part 2 of 3: The United States softens its mechanism for applying cryptography) | Is Law, pa
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»DeFi»Trump plans to announce cryptocurrency exchange World Liberty Financial on Monday. Here’s what you need to know.
DeFi

Trump plans to announce cryptocurrency exchange World Liberty Financial on Monday. Here’s what you need to know.

September 14, 2024No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Gettyimages 2163296066.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


Former President Donald Trump is expected to announce on Monday the launch of a new crypto platform called World Liberty Financial that will be controlled by his sons Donald Trump Jr. and Eric Trump.

The Republican presidential nominee plans to discuss the new initiative from his Mar-a-Lago resort at 8 p.m. ET on September 16, 50 days before Election Day. In recent weeks, the Trumps have been promoting the initiative on social media, billing it as “the future of crypto.”

Barron, Trump’s 18-year-old son and a freshman at New York University, is considered the project’s “DeFi visionary,” according to a white paper about the project obtained by cryptocurrency news site CoinDesk. DeFi, short for “decentralized finance,” is a term that refers to financial services offered through public blockchains.

“We are embracing the future with crypto and leaving behind the slow, outdated big banks,” Trump said in a video posted Thursday on X from Mar-a-Lago.

Trump’s cryptocurrency plans fit with the former president’s campaign promise to make the United States the “cryptocurrency capital of the world.” But the move also raises concerns about how Trump could use federal resources to advance a personal financial agenda.

“Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting to profit personally from it,” Jordan Libowitz, a spokesman for the government watchdog group Citizens for Responsibility and Ethics, told The Associated Press.

Libowitz added: “The success of this initiative could be closely linked to American economic policy.”

The Trump campaign did not immediately respond to CBS MoneyWatch’s request for comment.

What is World Liberty Financial?

Because the Trumps have released few details about World Liberty Financial, not much is known about how the platform works. Cryptocurrency exchanges are platforms where investors can buy and sell digital currencies, similar to how a traditional stock exchange works.

Eric Trump said the startup would promote “financial independence,” while Donald Trump Jr. said it would “make finance great again.”

According to the project’s whitepaper obtained by CoinDesk, 70% of the company’s tokens will be reserved for company insiders, while the remaining 30% will be distributed through a public sale. A portion of those proceeds will go to a founding team, the report said, citing the whitepaper.

Why is Trump launching a cryptocurrency exchange?

Millions of Americans have invested in or traded cryptocurrencies, even though these digital assets tend to attract young men, according to data from the Pew Research Center.

Forty-three percent of American men ages 18 to 20 say they have invested in, traded, or used cryptocurrency, compared to 16% of the general population.

In May, Trump announced that his campaign would begin accepting cryptocurrency donations, part of an effort to create and solicit support from what he called a “crypto army.”

In contrast, when he was president, Trump described himself as “not a fan” of cryptocurrencies. In 2019, he tweeted that cryptocurrencies “can facilitate illegal behavior, including drug trafficking and other illegal activities.”

—The Associated Press contributed to this report.

More information on CBS News

Megan Cerullo

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, the workplace, health care, consumer spending and personal finance. She regularly appears on CBS News 24/7 to discuss her reporting.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleUnlocking Future Consumer Trust with Blockchain-Verified Products
Next Article Volatility Ahead? Crypto Market Braces for $1.6 Billion Bitcoin and Ethereum Options Expiration

Related Posts

DeFi

Attached in clear? Yes, as part of this Stablecoin bill of the Senate led by the new Republican

May 10, 2025
DeFi

Do not miss the presale $ vlt like vaultro finance

May 10, 2025
DeFi

Bitcoin reaches $ 103,000 but DEFI is a mixed bag: redefined finance

May 10, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Videos

Tokenomics : The Mechanics and Magic of Decentralized Funding | Jason Fernandes | TEDxSDMIMD Mysuru

May 9, 2025

The Mechanics and Magic of Decentralized Funding explores the powerful intersection of blockchain technology, economic…

Event

Altcoin Observer – Official Media Partner for Dutch Blockchain Week 2025

May 9, 2025

30% off DBW Summit! Use code OBSERVER30 at dutchblockchainweek.com. Only for A.O and AdLunam Community …

1 2 3 … 44 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Coinbase Revenue from XRP Tops ETH, Sol AS Holdings Saar 458% – Is the XRP price ready for the break?

May 10, 2025

Pepe Price jumps 45% powered by Ethereum Rally

May 10, 2025

XRP for health care: Welgistics secures $ 50 million in credit for pioneer blockchain payments

May 10, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 103,957.85
ethereum
Ethereum (ETH) $ 2,412.15
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.40
bnb
BNB (BNB) $ 661.19
solana
Solana (SOL) $ 172.90
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.225621
cardano
Cardano (ADA) $ 0.802064
tron
TRON (TRX) $ 0.263668