Presidential candidate Donald Trump has announced to launch a new cryptocurrency, adding a new business to every growing family business.
Donald Trump has just recently entered the fast-growing arena of cryptocurrency by launching a new family business called World Liberty Financial. Donald’s sons, Donald Trump Jr. and Eric Trump, will spearhead investing in the rapidly growing cryptocurrency arena with a range of pro-crypto policies that would be implemented if Trump were ever to regain his presidential chair. But this was not done without raising several ethics dilemmas with government watchdogs, who pointed out the potential conflicts of interest surrounding Trump’s influence as a public figure with political ambitions.
Few other details are known about this new cryptocurrency project, though it has been stated that the venture will likely be able to streamline financial transactions by not having as much reliance on traditional banking systems. Such a plan is in line with Trump’s larger vision of making the U.S. a global center for cryptocurrency, though it is a pretty drastic shift from his past criticism of digital currencies. Again, the suddenness of Trump’s change in stance and firsthand, behind-the-scenes exposure of his family to this venture has thrown up questions and sound mouthings about its transparency of motivation, going by the magnitude of influence and potential regulatory implications another Trump presidency would have.
The launch of the venture amid much fanfare was accompanied by its own doses of skepticism, as some of Trump’s crypto allies aired their concerns over the execution and the political risks it introduces. This is precisely enhanced by the scrutiny and regulatory challenges that face the cryptocurrency industry.
The new Trump family business endeavor is certainly keeping the headlines high on various major news platforms, which indicates that the public and media are keenly interested to see how it plays out in light of Trump’s political career and the overall financial scenario.
