Former US president says digital currency developers will “live in hell” if he doesn’t win the election
Former US President and Republican presidential candidate Donald Trump announced World Liberty Financial, his new cryptocurrency buying and selling platform, on Monday (September 16, 2024). During the announcement event, the Republican stated that digital currency developers “they will live in hell” if he does not win the election to be held on November 5th.
“If I don’t win the presidential election in November, I think the US cryptocurrency developers who are the subject of the SEC investigation [Comissão de Valores Mobiliários dos Estados Unidos]will live in hell”, Trump said during the announcement on X’s Spaces (formerly Twitter).
In conversation, the platform’s new token, WLFI, was presented, which aims to make the United States the “crypto capital” of the world.
The project has been described as a cryptocurrency banking platform, but has yet to provide operational and structural details, with speakers present directing their speeches to the US elections and the current context of cryptocurrencies in the United States.
One “white paper”the name given to the technical report of crypto projects, has not yet been produced. However, there are already critics of the model adopted by the platform, which will have 70% of its initial capital in the hands of members of the Trump family and people close to the project.
The platform will allow users to take out loans and offer cryptocurrency credits. Initial investors, in turn, will receive returns through fees charged on the platform.
During the announcement, Trump highlighted his children’s knowledge of the industry. “Barron knows a lot about this [crptomoedas]”he said, referring to his youngest son and his familiarity with digital wallets.
Trump’s cryptocurrency push is part of a campaign effort to attract support from cryptocurrency investors. The Republican is trying to project an image of himself as more pro-crypto than his Democratic opponent, Kamala Harris, who has already held a campaign event with crypto investors.
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