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.

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.

Former US President Donald Trump is expected to announce a new cryptocurrency project on Monday, to be led by his two oldest sons, News.Az reports citing Fox Business.

Trump’s crypto platform will be called World Liberty Financial and will be formally unveiled at 8 p.m. ET by the former president at an event at his Mar-a-Lago residence that will be broadcast on X Spaces.

“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said in a video posted to social media platform X on Thursday.

The former president and his sons Donald Trump Jr. and Eric Trump have been promoting the project on social media in recent weeks in advance of the platform’s launch, though they haven’t gone into detail about how the platform will operate.

Crypto news outlet CoinDesk obtained excerpts of a draft white paper describing the project, which noted that the former president’s 18-year-old son, Barron, is listed as the project’s “DeFi visionary.” DeFi is shorthand for “decentralized finance” and is a reference to financial services performed on a public blockchain.

CoinDesk said, according to a person familiar with the plans for World Liberty Financial, that the new platform would include a new non-transferable cryptocurrency token called WLFI. The outlet’s source noted that as of early September, World Liberty Financial hadn’t finalized its plans.

According to the white paper draft reviewed by the outlet, 70% of WLFI tokens would be reserved for the project’s founders, team and service providers, while the remaining 30% of tokens would be distributed via a public sale with some of the proceeds going to insiders and to support the platform’s operations.

Trump has highlighted crypto as a part of his campaign platform and said he wants to make the U.S. the “crypto capital of the planet” – though the new project linked to his family could raise concerns about conflicts of interest.

The former president previously raised concerns about crypto during his first term in office. In a 2021 interview on FOX Business Network’s “Varney & Co.,” Trump said he has “not been a big fan” of cryptocurrencies and warned it’s “potentially a disaster waiting to happen.”

News.Az 

The cryptocurrency market is seeing a significant shift as Ethereum (ETH) whales, once loyal to the platform, are starting to diversify their investments into emerging altcoins like Mpeppe (MPEPE). In a recent move, an ETH whale purchased $500K worth of Mpeppe tokens, signaling growing interest in this new meme-based gambling ICO. As the crypto world continues to evolve, the battle between Ethereum (ETH) and its competitors, such as Mpeppe, is heating up.

Ethereum’s Struggles Amid ETF Disappointment

The once-dominant Ethereum (ETH) is facing a tough period, with its ETF offerings underperforming compared to Bitcoin. A report from 99Bitcoins revealed that Ethereum ETFs have seen outflows of over $100 million since the beginning of September, raising concerns about the long-term sustainability of Ethereum (ETH) as an investment vehicle. While ETH saw a minor price increase of 5%, it has significantly underperformed against Bitcoin, which saw a 10% rise during the same period.

One of the major concerns is the lack of institutional interest in Ethereum (ETH). While Bitcoin continues to attract substantial capital from ETF products, Ethereum has struggled to replicate that success. This has led to some ETH whales seeking alternative investments, with Mpeppe (MPEPE) emerging as a top choice due to its high-growth potential.

Why Mpeppe (MPEPE) Is Gaining Traction

Mpeppe (MPEPE) is quickly becoming the go-to investment for those looking to diversify away from Ethereum (ETH). The $500K purchase by an ETH whale is a testament to the growing confidence in Mpeppe’s ability to deliver substantial returns. With its upcoming launch on Uniswap, Mpeppe (MPEPE) is poised to gain even more visibility and liquidity, making it an attractive option for investors who want to capitalize on its projected 150x returns.

What makes Mpeppe (MPEPE) particularly appealing is its combination of meme culture and real-world utility within the gambling sector. The token offers a range of DeFi features, including yield farming and liquidity mining, alongside a fully integrated casino platform. This unique approach has positioned Mpeppe as a standout project in the crowded ICO space, drawing attention from both retail and institutional investors.

Ethereum’s Future: Is It Still a Good Investment?

Despite the challenges Ethereum (ETH) is facing, it remains a significant player in the crypto market. However, the recent $500K investment into Mpeppe (MPEPE) by an ETH whale suggests that even the most loyal Ethereum investors are beginning to explore other opportunities. The underperformance of ETH ETFs compared to Bitcoin ETFs is another indicator that Ethereum’s dominance may be waning.

Analysts have pointed out that Ethereum (ETH) continues to face competition from other Layer-1 and Layer-2 solutions, which offer faster and cheaper transactions. While Ethereum (ETH) has made strides in improving scalability through its Layer-2 solutions, such as Base, the overall demand for Ethereum (ETH) has not kept pace with its competitors. This has led to questions about whether Ethereum can regain its market position, especially as tokens like Mpeppe (MPEPE) rise in popularity.

Conclusion

As the crypto market evolves, Ethereum (ETH) finds itself in a challenging position, with increased competition from faster, cheaper networks and underperforming ETFs. The recent $500K investment by an ETH whale into Mpeppe (MPEPE) highlights the growing interest in emerging altcoins that offer higher returns. While Ethereum is still a major player, the rise of tokens like Mpeppe (MPEPE) could signal a shift in the market, as investors seek out new opportunities with greater upside potential. Whether Ethereum can regain its dominance remains to be seen, but for now, Mpeppe is leading the charge in the high-growth altcoin space.

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