Donald Trump to launch new cryptocurrency initiative next week

Former US President Donald J. Trump is set to announce a new venture into the cryptocurrency market, a move in line with his ongoing commitment to the digital currency sector, which has contributed significantly to his political funding efforts.

In a recent broadcast via X (formerly Twitter), Trump revealed plans to debut his latest venture, World Liberty Financial, via an online stream scheduled for 8 p.m. ET on Monday. He touted the initiative as a step toward modernizing financial interactions, away from traditional banking institutions. “This initiative is a leap into the future, leaving behind the outdated structures of major banks,” he noted.

Details regarding Trump’s exact role in World Liberty Financial remain scarce. However, his sons, Eric Trump and Donald Trump Jr., have been active in promoting the venture. They have frequently shared updates and additional information via a dedicated Telegram channel, which has amassed a sizeable following.

David Yaffe-Bellany, who covers the cryptocurrency sector, notes that the move comes at a crucial time, as Trump’s 2024 presidential campaign ramps up its outreach to the lucrative cryptocurrency sector. The introduction of this activity could potentially sway tech-savvy voters and investors as the November election approaches.