Trump Keeps Teasing His New Crypto Project, but Details Remain Scant

Previously elected American leader, Donald Trump, has hinted that he plans to disclose additional details later today concerning his enigmatic digital currency venture, World Liberty Financial.

Trump shared a video on X on Thursday morning, mentioning World Liberty Financial, stating: “In the afternoon I’ll reveal my strategy to make the United States the global leader in cryptocurrency. They aim to restrict you, even threaten your business existence. However, we won’t let them succeed.”

Despite being presented as a promotional video for World Liberty Financial, Trump’s comments are actually a repeat – the video uses audio from Trump’s 50-minute speech at the Bitcoin 2024 conference in Nashville in July. During this speech, Trump outlined his vision to transform the U.S. into a hub for cryptocurrencies if he is reelected as president.

What’s known about Trump’s crypto and DeFi plans

The details about the project have so far been scant.

The project seems to be primarily led by Eric Trump, who holds an executive vice president position within the Trump family’s business entity, the Trump Organization. On August 6th, Eric Trump expressed on platform X that he has developed a deep affection for Crypto/DeFi and asked his followers to remain attentive for an important announcement, mentioning both his father and older brother Don Jr. in his post.

Next week, Eric Trump spoke with the New York Post and hinted at a new project in an interview. He suggested it might offer a method for individuals to secure loans without needing conventional banks, though he chose not to reveal any particulars.

In essence, Eric Trump stated that more than half of the nation currently lack access to banking services, making them ineligible for most loans offered by financial institutions. However, with this technology, individuals could quickly receive approval or denial from lenders, not based on policies, but rather on mathematical calculations.

On August 23rd, Trump unveiled the name of his project (previously known as “The DeFiant Ones”) via Truth Social, stating: “For far too long, everyday Americans have been under the grip of big banks and financial elite. It’s high time we join forces.” The post also included a link to a Telegram group for the project, which now boasts approximately 54,000 members.

5 days after this, Eric Trump posted on X to share that the venture was now called World Liberty Financial. “Thrilled to reveal the start of @WorldLibertyFi!,” Eric Trump posted. “A fresh chapter in finance has begun.”

Without specifics provided by the Trump family regarding their project, unscrupulous individuals have seized the opportunity presented by cryptocurrency enthusiasts’ excitement – and some confusion – about this upcoming venture. They have been peddling coins that allegedly relate to Trump and World Liberty Financial, taking advantage of the situation.

Trump’s team cautioned the project’s supporters via the official Telegram channel, stating, “If it’s not originating from our team, then consider it as unauthentic.”