Trump's Crypto Venture: World Liberty Financial Launch Announcement

Trump's Crypto Business Launch

Former President Trump plans to launch his cryptocurrency platform World Liberty Financial on Monday in an address from Mar-a-Lago. “We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said in a video posted on the social media platform X on Thursday afternoon.

Event Details

The launch, which will take place on X’s Spaces at 8 p.m. EDT Monday, was also advertised in the video as a “state of crypto address” with the Republican presidential nominee.

Background

Trump teased the crypto project last month in a post on his own social media platform, Truth Social. “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand — together,” Trump wrote, linking to a Telegram channel called “The DeFiant Ones.” This Telegram channel has since been renamed “World Liberty Financial” and is described as the “Official Trump DeFi Channel.”

Trump's Vision for Crypto

Despite once dismissing crypto as a “scam,” Trump has fully embraced the industry this election, vowing to make the U.S. the “crypto capital of the planet” if reelected in November. “If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” the former president said at a bitcoin conference in July, where he unveiled a series of crypto proposals.

Frustrations with Current Administration

Trump’s focus on crypto comes as the industry has increasingly expressed frustration with the approach that the Biden administration — and SEC Chair Gary Gensler in particular — have taken toward crypto enforcement.