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Former US president Donald Trump surprised many by unveiling a new cryptocurrency platform, World Liberty Financial, during a two-hour online event on Monday, September 16.
This marks a significant departure from his previous stance, where he had referred to cryptocurrencies as a “scam” during his presidency.
The platform, promoted by Trump and his sons, seeks to capitalize on decentralized finance, allowing users to lend or borrow cryptocurrencies without needing a traditional intermediary like a bank.
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Donald Trump Jr. described the platform as the “start of a financial revolution,” highlighting its focus on “stablecoins,” digital currencies backed by traditional money like the US dollar.
The project’s goal is to make cryptocurrencies more accessible to the masses while eliminating the wild fluctuations that often characterize digital currencies untethered to real-world assets.
During the event, he emphasized, “This is about bringing financial security to ordinary people in a way they can control.”
Despite the ambitious launch, details about the timeline and full scope of the project were vague.
While Trump’s cryptocurrency pivot seems designed to appeal to a broader electorate ahead of the 2024 election, skeptics are questioning whether this initiative will genuinely deliver on its promises or serve as a political tool to garner support.
