Former President Donald Trump is set to speak about cryptocurrency in a speech scheduled for next Monday. The speech will also mark the launch of World Liberty Financial, a cryptocurrency platform led by his sons Donald Jr. and Eric. This event happens 50 days before Election Day, presenting a unique approach to utilize campaign time to promote personal business ventures. Trump, who has a history of blending his political and business interests, has engaged in various business ventures during his 2024 campaign, including sneakers, photo books, and Trump-branded Bibles.
In a video shared on X, a social media platform where his speech will be hosted at 8 p.m. EDT on Monday from his residence at Mar-a-Lago, Trump expressed his enthusiasm for embracing the future with cryptocurrency, aiming to move away from traditional banks towards more modern financial solutions. As part of his presidential campaign strategy, Trump has pledged to position the United States as the “crypto capital of the planet,” though concerns have been raised about potential conflicts of interest if he were to intertwine federal assistance with his family’s business ties.
Cryptocurrencies operate as digital currencies that can be exchanged online without the need for traditional banking systems. Transactions usually take place on web-based platforms that charge fees for converting cryptocurrencies into various fiat currencies including U.S. dollars. Trump had initially taken a negative stance on cryptocurrencies during his time in office, but he has since shown a shift in perspective towards the industry. He has proposed the establishment of a strategic reserve of Bitcoin and has vowed to oppose the development of a Federal Reserve-administered Central Bank Digital Currency, a digital version of central bank money accessible to the public.
