Donald Trump To Unveil Plans to Make US ‘Crypto Capital of the Planet’

Junior Content Creator

Harvey Hunter

Junior Content Creator

Harvey Hunter

About Author

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

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Last updated:

August 29, 2024 13:34 EDT

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Former President Donald Trump announced his intention on August 29 to unveil a comprehensive plan to establish the United States as the ‘crypto capital of the planet.’

In the announcement, made via a post on his official X account, Trump shared a 17-second video teasing the strategy he plans to unveil.

In the post, Trump tagged World Liberty Financial, a DeFi project actively promoted by his sons.

The video concluded with the World Liberty Financial logo, hinting at the project’s potential involvement in Trump’s broader agenda.

World Liberty Financial’s Potential Role

The involvement of World Liberty Financial suggests that the DeFi project may play a major role in his proposed strategy.

Donald Trump’s sons initially announced plans to launch a new cryptocurrency platform with World Liberty Financial to address inequality in banking access.

The platform, which they have referred to as “The Defiant Ones,” seeks to leverage DeFi’s benefits to challenge the traditional banking system—although specific details have yet to be revealed.

Donald Trump has also endorsed The Defiant Ones project as part of his broader agenda.

Approximately one hour before Donald Trump’s post, World Liberty Financial issued a warning on its Telegram channel urging users to be wary of scams.

“We have been made aware of some ads circulating on Telegram claiming to be from us, offering fake airdrops or token sales,” it said. “We are not doing any airdrops or selling any tokens at this time.”

Trump Family Goes Pro Crypto

This newfound familial interest in cryptocurrency coincides with Donald Trump’s recent shift on the issue. Despite previously deeming Bitcoin a “scam,” his stance has softened.

On June 14, he declared that if elected president, he would end the Biden administration’s “war on crypto.”

Trump had also previously criticized Biden for his harsh stance on cryptocurrencies, emphasizing that the United States should strive to be a leader in the crypto industry.

Meanwhile, soon-to-be Democratic nominee Kamala Harris has remained quiet about her stance on digital finance.

Critics suggest that her affiliation with the Biden administration, given President Biden’s stance on digital asset regulation, may hinder her relationship with the crypto community.

However, recent reports suggest a potential openness on her part to embracing crypto.

With digital assets a key issue for nearly 20% of swing state voters, the stances of both Donald Trump and Kamala Harris on this topic could influence the election’s outcome.

Current betting odds on Polymarket show Kamala Harris and Donald Trump deadlocked at 49%, reflecting the uncertainty surrounding the next U.S. president.