- The Trump family is advancing their crypto initiative.
- The World Liberty Financial launch is now closer than ever.
- Presidential election candidate Donald Trump is experiencing a shift in winning odds.
Donald Trump’s embrace of the self-styled “crypto president” title has become a central point of his current presidential campaign. The former president and now election hopeful has charted bold plans and a vision for the United States crypto industry. In addition to his political aspirations, Trump has leveraged the growing excitement around crypto to engage in various industry-related ventures, including a decentralized finance initiative, World Liberty Financial.
While the early days of the project have been marred by controversies of hacks and scams, the presidential hopeful remains determined to push the project forward.
World Liberty Financial Nears Debut
The Trump family-backed business venture, World Liberty Financial, is gaining momentum. On Thursday, September 12, 2024, the former president announced that the project would officially launch on September 16.
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“We are embracing the future with crypto and leaving the slow and outdated big banks behind,” he declared in the post.
Trump’s sons, Eric and Donald Jr., who are heavily involved in the project, also confirmed the upcoming launch by sharing their father’s post on their own social media platforms.
Despite the family’s enthusiasm, the project has faced skepticism, particularly following hiccups such as the promotion of a fake affiliate project and a scam-ridden official Telegram channel.
While the Trump family has pitched the venture as a bold move to challenge the traditional banking system, its vague roadmap details have also raised questions about its direction and viability. Meanwhile, a recent shift in election predictions has cast doubt on Trump’s crypto star.
Harris Knocks Trump Out of Lead in Crypto Bets
Following the Harris-Trump presidential debate on September 10, the former president saw a significant dip in his odds of winning the upcoming November elections.
Trump’s previously favorable 53% odds on the Polymarket prediction platform dropped 4%, landing at 49%. This decline was in response to a surge in Harris’s position, who overtook Trump with a strong increase in support following reports of his underperformance in the debate.
At press time, Kamala Harris still held a marginal lead against Trump in a 50% to 49% ratio, and it remains to be seen how either candidate will maintain their position in the coming weeks.
On the Flipside
- Industry participants have raised serious concerns over the upcoming World Liberty Financial launch.
- Critics within the community have labeled Trump’s crypto ventures as grifting.
- Memecoins themed after Donald Trump have experienced severe volatility this week.
Why This Matters
Trump’s vocal support for the crypto industry may appear commendable, but launching the World Liberty Financial platform is a high-stakes move. In an industry known for its volatility and complexity, promises alone are insufficient. Trump and his family need to understand the intricacies of launching such a platform, as failure to do so may lead to creating another fleeting scheme that leaves their reputation damaged and followers vulnerable to losses.
Read this article for more about the criticisms of the Trump family’s World Liberty Financial project:
Ethics Experts Slam Trump’s Crypto Policy and New Venture with Family
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