Hypocritical U-turn: Trump launches own Crypto currency

Former US President Donald Trump, once a vocal critic of cryptocurrencies, has launched a bold new venture into the world of decentralized finance (DeFi). Teaming up with his sons and prominent crypto entrepreneurs, Trump introduced World Liberty Financial, a platform poised to revolutionize the digital asset space.

During a two-hour online event on September 16, little was revealed about the full scope of the project, but the family teased a “financial revolution” through blockchain-powered stablecoins and user-controlled governance tokens. After once calling crypto a “scam,” Trump’s sudden pivot to becoming a “pro-bitcoin president” could send ripples through both the political and financial worlds.

Trump during his presidency was outspoken in his disdain for digital currencies, often referring to them as scams.

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Fast forward to today, and Trump is now positioning himself as a “pro-bitcoin president” should he win another term in the White House. The platform, World Liberty Financial, aims to capitalize on the growing trend of decentralized finance (DeFi), which promises to eliminate the need for traditional financial intermediaries such as banks by allowing users to engage in direct peer-to-peer transactions on blockchain technology.

During the event, Trump’s son, Donald Trump Jr., described the platform as the dawn of a new financial era. He explained that World Liberty Financial will use “stablecoins,” digital currencies pegged to traditional assets like the U.S. dollar, offering users more stability than other volatile cryptocurrencies.

“This is the start of a financial revolution,” Trump Jr. said during a session streamed on X (formerly Twitter), promising that the platform will be accessible to the masses.

One of the key features of World Liberty Financial will be the ability for users to lend and borrow cryptocurrencies from one another—a service already offered by many existing DeFi platforms.

However, Trump’s team has teased that their platform will offer unique benefits, including governance tokens that allow users to vote on key decisions.

With 63% of these tokens offered to the public, 20% allocated to the founding team, and the remainder reserved for user rewards, the Trump-backed platform appears to be leaning heavily into decentralized community governance as a cornerstone of its structure.

Could Trump’s surprising crypto gamble reshape the future of finance—or is it another power play for control of the DeFi market?