Crypto
What is Barron Trump’s weird role in Donald Trump’s fishy cryptocurrency venture?
Former President Donald Trump’s son, Barron Trump, has been designated in an unusual position as the family enters the cryptocurrency market. Is it only to target the Gen-Zs?
The cryptocurrency project called World Liberty Financial is set to launch on September 16.
“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump stated in a video post on X. “Join me live at 8 P.M.”
The launch of World Liberty Financial represents the family’s first significant foray into decentralized finance (DeFi), a sector of cryptocurrency focused on peer-to-peer financial services without traditional intermediaries like banks.
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Eric and Donald Jr are leading the project Barron by their side
The project is being led by Trump’s sons, Eric Trump and Donald Trump Jr., but in a surprising move, 18-year-old Barron Trump has been named “chief DeFi visionary.” But isn’t it weird that Barron, not because of his age but because the young Trump has no prior experience in the world of finance or cryptocurrency?
Several investigative reports suggest that the true driving force behind the venture may not be the Trump family at all but rather a controversial figure in the crypto world named Chase Herro.
Herro, who once referred to himself as “the dirtbag of the internet,” has a questionable track record. He has promoted dubious products such as weight-loss “colon cleanses” and get-rich-quick schemes. His connection to the Trump family’s cryptocurrency venture has led to concerns about the project’s legitimacy and long-term intentions.
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The project’s whitepaper, obtained by CoinDesk, provides further details on a “credit account system”. World Liberty Financial plans to operate on the Aave platform, built on the Ethereum blockchain, and aims to create a decentralized borrowing and lending system. It aims for dollar-pegged stablecoins, with the stated objective of ensuring that the “U.S. dollar dominance continues” in the digital world.
Earlier this year, Barron was linked to the DJT coin, a digital currency that collapsed amid criticism and scrutiny from the cryptocurrency community.