Former President Donald Trump has announced his intention to position the United States as a global hotspot for crypto if elected.
On August 29, Trump said he would outline his plan to make America the “cryptocurrency capital of the world,” as blockchain and digital assets increasingly take center stage in U.S. political campaigns. Trump’s X-rated post also mentioned the World Liberty Financial initiative, led by his sons, Donald Trump Jr. and Eric Trump.
Details about the project were scarce at press time, but rumors suggest it revolves around real-world assets and tokenization.
Trump’s sons have also warned cryptocurrency supporters about scams and copycats on the project’s official Telegram channel, which has more than 53,000 subscribers. Trump has yet to reveal how involved he might be with World LibertyFi or what the initiative aims to accomplish.
Donald Trump’s Crypto Shift
At a gala in May, Donald Trump initially presented himself as a champion of the industry and began adopting pro-crypto rhetoric to attract Web3 votes.
Trump’s optimistic rhetoric continued at the Bitcoin (BTC) 2024 conference in July, with the Republican nominee promising to create a strategic reserve of Bitcoin and fire Gary Gensler, the current chairman of the Securities and Exchange Commission.
While the odds between Trump winning and Democratic nominee Kamala Harris becoming president have fluctuated recently, crypto seems to be leaning in favor of the former president and his supposed policies.
Separately, a Bitcoin bill introduced by fellow Republican Senator Cynthia Lummis of Wyoming has reportedly gained momentum in the Senate. Like Trump’s plan, Lummis’ proposal would tap into America’s existing reserves and leverage gold certificates for a two-decade Bitcoin HODL.
