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Trump jumps into cryptocurrency, appears to know nothing about it

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Trump jumps into cryptocurrency, appears to know nothing about it

Donald Trump, who previously called Bitcoin a scam, has launched a new cryptocurrency venture called World Liberty Financial. “Crypto is one of those things we have to do,” he said in an interview on X. “Whether we like it or not, I have to do it.” The news comes just a day after a likely assassination attempt against Trump at his Florida golf course.

Trump is entering the venture with his sons Donald Trump Jr. and Eric Trump, along with two crypto entrepreneurs: Chase Herro (who once called stablecoins “borderline a Ponzi scheme”) and Zachary Folkman, who founded a company called Date Hotter Girls. Trump’s 18-year-old son Barron Trump, who has no known crypto expertise, is also listed as “chief DeFi [decentralized finance] visionary.”

The tokens themself are supposedly based on US dollar stablecoins. Some involved in the venture have touted it internally as a borrowing and lending platform, according to The New York Times.

Cryptocurrency is generally supposed to be decentralized, but a large chunk of the governance tokens for World Liberty Financial could be held by insiders, according to a draft white paper for the project seen by CoinDesk. The remaining 30 percent would be distributed “via public sale” with some of the money raised from that also going to project insiders.

When asked questions about the venture in an X Spaces interview (above), Trump appeared to know next to nothing about it. “It’s so important. It’s crypto. It’s AI. It’s so many other things. AI needs tremendous electricity capabilities beyond anything I ever heard,” he said. He deferred to Barron’s expertise, saying he has “four wallets” and equated it to learning a language like Chinese.

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Some comments in the Spaces interview weren’t kind. “Let’s be honest Trump doesn’t even know what crypto is or why he’s being asked to shill it,” said one. Others noted that launching such a venture just ahead of an election was inappropriate.

“I think it genuinely damages trump’s electoral prospects, especially if it gets hacked (it’ll be the juiciest DeFi target ever and it’s forked from a protocol that itself was hacked),” said crypto industry notable and self-proclaimed Trump supporter Nic Carter in a post on X.

Crypto

Cryptocurrency fraud costs Okaloosa County resident over $500k

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Cryptocurrency fraud costs Okaloosa County resident over 0k
Video above: ‘News 5 Now’ — Top Stories from March 20, 2026 OKALOOSA COUNTY, Fla. (WKRG) — The Okaloosa County Sheriff’s Office is warning residents of a fraud scheme after a resident lost over $500,000. According to a Facebook post from the OCSO, the victim reached out to law enforcement and said he’d been contacted […]
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Scam Jam: Avoiding Modern Romance & Cryptocurrency Scams | FFXnow

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Scam Jam: Avoiding Modern Romance & Cryptocurrency Scams | FFXnow

The Fairfax Scam Jam unpacks two of the fastest‑growing threats: romance‑based investment schemes and cryptocurrency fraud. Scammers often initiate contact through friendly wrong‑number texts, dating apps, and social media, then spend weeks or months building trust. Once a relationship feels established, victims are encouraged to “invest” in cryptocurrency, gold, or foreign currency through fraudulent platforms operated by criminal organizations.

You’ll learn how these schemes operate step‑by‑step, the psychological tactics scammers use, and the financial and emotional devastation they leave behind. Presenters will share actionable tools for recognizing early warning signs, having preventative conversations with loved ones, reporting fraud, and recovering when possible. Whether you’re new to digital safety or a seasoned advocate, this year’s Scam Jam will give you the knowledge you need to stay a step ahead of scammers.

The 9th Annual Fairfax Scam Jam is a community collaboration between AARP Virginia and the Fairfax County Silver Shield Anti-Scam Program.

Resource Fair exhibitors will be on hand until 1 p.m.

Representatives from county, state and federal agencies will be available to answer your fraud and scam questions one-on-one.

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Complimentary lunch is provided to registered guests.

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Wood County Sheriff’s Department pushes for cryptocurrency kiosk protections

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Wood County Sheriff’s Department pushes for cryptocurrency kiosk protections

WOOD COUNTY, Wis. (WSAW) – The Wood County Sheriff’s Department is hoping a bill that would protect victims from scams involving cryptocurrency kiosks will soon be signed into law. It passed with bipartisan support on Tuesday.

Sheriff Shawn Becker says they have seen many people lose thousands of dollars to scammers when using the machines

Scammers have used kiosks to take thousands of dollars from victims in north central Wisconsin. Scammers convince people to first deposit cash. It’s then turned into bitcoin and sent to scammers.

The Wood County Sheriff’s Department first received complaints about scams involving cryptocurrency kiosks three years ago. Since then, they’ve been investigating reports and testifying for change.

Sheriff Shawn Becker has been sounding the alarm.

“We did push, we did communicate, communicate with our law enforcement agencies, communicate with other legislators, anybody that would be willing to listen,” Becker said.

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Legislation passes with bipartisan support

Lawmakers have been working to impose regulations on these kiosks. One element would require operators to reimburse victims.

“I’m hoping that we can go retroactively to the investigations that we’ve been handling and where we’ve kept the money at the sheriff’s department, and we can give it right back to that victim. And that’s going to be a great day, quite honestly,” Becker said.

The department has thousands of dollars in evidence they seized that they’ll be able to return to victims if the bill is signed into law.

The legislation also includes daily $1,000 transaction limits.

“That limitation is really going to be effective, because somebody can’t walk in there with $20,000 or even more and put it into the machine,” Becker said.

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It also requires operators to add warning labels to kiosks. It also requires kiosks to be more than five feet away from ATMs.

“It took many, many people to be involved in this and understand it’s a process to create legislation and we’re there. And we’re really happy with the end result,” Becker said.

Becker also gave an update about a lawsuit from last year. A crypto vendor sued the department for seizing cash from their bitcoin machines. They’ve now settled. Becker said he didn’t agree with that, but it showed they needed to continue pushing for change.

AARP Wisconsin supporting legislation

Raj Shukla is the Wisconsin state director for AARP. He said this legislation does a lot to stop scammers in their tracks and protect victims, especially since it puts $1,000 daily transaction limits on kiosks.

“That means that people won’t be losing a lifetime’s worth of life savings in just a day. It provides for receipts for every transaction so that law enforcement can track transactions and find scammers faster,” Shukla said.

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Shukla said the consumer protections that exist on ATMs don’t exist on cryptocurrency machines. He said this legislation levels the playing field.

Shukla is hoping the bill is signed into law this week. He said scams involving cryptocurrency are rampant right now.

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