Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company World Liberty Financial, a crypto platform controlled by his sons Donald Jr. and Eric. "We're embracing the future with crypto and leaving the slow and outdated big banks behind," Trump said in a video posted Thursday to X, the social media site that will also host his address on the subject at 8pm EDT on Monday from his Mar-a-Lago home. The launch of the business will come just 50 days from Election Day, per the AP.
As part of his presidential campaign, Trump has pledged to turn the United States into the "crypto capital of the planet." He has received big donations from some industry leaders, including from twins Cameron and Tyler Winklevoss, notes the New York Times. The new business could raise conflict-of-interest concerns if Trump wins reelection and his economic policies benefit the new company.
Cryptocurrencies are forms of digital money that can be traded over the internet without relying on the global banking system. The trading often depends on online marketplaces that charge fees for transactions, so that the cryptocurrencies can be exchanged for US dollars and other currencies. Trump opposed crypto during his presidency, but he has since warmed to the sector. He has suggested the government create a strategic reserve of bitcoin and has vowed to block the creation of a Federal Reserve-administered Central Bank Digital Currency, a digital form of central bank money that would be available to the public.
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