As an analyst with over two decades of experience in financial markets, I find myself intrigued by Donald Trump’s latest foray into the crypto sector. Having closely followed his career and witnessed his transformative impact on U.S. politics, I can’t help but see parallels between his presidential campaign and this new venture.
Donald Trump has disclosed the formal launch date of World Liberty Financial, his family’s innovative cryptocurrency venture, indicating a more substantial involvement in the crypto market. This announcement was shared during the afternoon hours on Thursday, with supporters being invited to attend a live event on Twitter Spaces, set for September 16 at 8 p.m. ET.
.@WorldLibertyFi
— Donald J. Trump (@realDonaldTrump) September 12, 2024
As a crypto investor, I’ve been intrigued by recent developments surrounding a project that’s been under wraps for several months now. Reports from Jason Shebnell at The Block suggest that we might be hearing more about this project soon, especially since the former U.S. president and his sons, Trump Jr. and Eric Trump, have been dropping hints about upcoming initiatives in the crypto and decentralized finance (DeFi) sectors since August 6.
I’ve found myself deeply captivated by the realm of Crypto and DeFi. Get ready for a major reveal in the near future… @Trump @realDonaldTrump @DonaldJTrumpJr)
— Eric Trump (@EricTrump) August 6, 2024
For far too many years, ordinary Americans have felt the pressure from large banking institutions and wealthy financial powers. It’s high time that we unite – let’s make our stand as one! #StandTogether
— Donald Trump Jr. (@DonaldJTrumpJr) August 22, 2024
According to a report by The Block, additional details came to light on September 3, as CoinDesk announced that World Liberty Financial intends to function within the Aave platform on the Ethereum blockchain. This operation will primarily focus on a “credit account system,” as detailed in an upcoming whitepaper.
During his re-election bid, Trump has changed his approach towards cryptocurrencies. This summer, he made an appearance at the Bitcoin 2024 conference and promised to fire SEC Chair Gary Gensler if he wins again and halt the U.S. government’s sale of its bitcoin holdings, which amount to around 213,000 BTC.
In addition to this, The Block announced that Corey Caplan, a co-founder of Dolomite, has taken on an advisory role at World Liberty Financial. This move underscores the project’s commitment to crypto knowledge. To ensure safety, the venture is partnering with well-known companies like Zokyo, Fuzzland, PeckShield, and BlockSecTeam. A recent announcement from the team revealed that their code has been scrutinized by these security experts, demonstrating a focus on user protection.
On September 10th, The Block announced that Representative Maxine Waters, a top Democrat on the House Financial Services Committee, voiced apprehensions regarding a certain project. Waters pinpointed possible dangers related to Decentralized Finance (DeFi), such as susceptibility to cyber-attacks, frauds, and internal disputes that might harm both consumers and investors. In her speech, she mentioned World Liberty Financial explicitly as an example.
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2024-09-13 10:28