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Author: Muyao Shen, Bloomberg; Compiled by: Tao Zhu, Bitchain Vision
Donald Trump appears to be experiencing deeper into the digital asset space, he saidPlans will be announced to ensure that the United States becomes the “crypto-capital of the earth.”
The former U.S. president and current Republican presidential candidate posted a video message on X social media platform ThursdayNo more specific explanation.The post contains links to World Liberty Financial, a decentralized finance project his son has been promoting.While details are rarely revealed, the site’s metadata describes the project as a “cut-end” DeFi platform that will connect users with “the best tools for decentralized finance to enable secure, high-yield crypto investments”.
“This afternoon, I will make plans to ensure that the United States becomes the crypto-capital of the planet,”Trump said in the video.
Trump’s attitude toward this asset class has undergone a radical change, which he once thought was a criminal scam during his tenure.Last month, he served as a special spokesperson at a Bitcoin conference where donors were asked to pay $844,600 to attend the roundtable with Trump.
Decentralized Finance (DeFi) is a branch of cryptocurrency designed to eliminate intermediaries such as banks and brokers by using software-driven applications.Its supporters claim that the DeFi project will democratize finance.
“They want to kill you. They want to make you bankrupt,” Trump said in a video on X, without specifying who “they” are.“We won’t let that happen.”
Supporters say the regulatory crackdown on cryptocurrencies has made the United States a less friendly country to build DeFi projects.Uniswap Labs, the creator of the largest DeFi trading platform on the Ethereum blockchain, said earlier this year that the SEC had warned it faced potential enforcement actions due to operating as an unregistered exchange and broker.
The setup of projects promoted by Eric and Donald Trump Jr. is still unclear.World Liberty Financial has launched a channel on the social media platform Telegram with over 52,000 subscribers.Telegram CEO Pavel Durov was charged in France this week for conspiring to spread child pornography pictures and other crimes.
“President Donald J. Trump just mentioned World Liberty Financial on Twitter!” the latest news from Telegram channel read.”Let’s show our support and keep moving forward! Become a Defiant!”
On Tuesday, a fourth non-fungible token series was launched, with images including images of the former president wearing superhero costumes and images of handheld symbolic Bitcoin.These NFTs are priced at $99 per piece.
Trump’s CIC Digital LLC earned $7.2 million by licensing his image on NFT, with at least $1 million in Ethereum in its crypto wallet.Trump’s support for cryptocurrencies has prompted some executives in the industry, including venture capitalists Marc Andreessen and Ben Horowitz, to endorse him.
