Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Darey Art Alade’s Car Completely Burnt On Third Mainland Bridge

    June 7, 2025

    President Should Stop Appointing INEC Chairman – Groups

    June 7, 2025

    Commissioners, Lawmakers Decline to Follow Governor Eno to APC

    June 7, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Darey Art Alade’s Car Completely Burnt On Third Mainland Bridge
    • President Should Stop Appointing INEC Chairman – Groups
    • Commissioners, Lawmakers Decline to Follow Governor Eno to APC
    • Enugu Governor, Mbah Mourns ‘Gwo gwo gwo ngwo’ crooner, Ejeagha
    • Akwa Ibom Governor, Umo Eno Officially Joins APC
    • Nollywood Actress, Aisha Lawal Denies Receiving Venza Gift From MC Oluomo
    • Ex-CJN, Mohammed Uwais Dies At 89
    • May & Baker Posts N28.9bn Revenue, N1.6bn PAT
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Saturday, June 7
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Trump, Sons Unveil New Cryptocurrency Platform
    2 Mins ReadSeptember 17, 2024

    Trump, Sons Unveil New Cryptocurrency Platform

    By TheScrutinyNGSeptember 17, 2024No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Former US president Donald Trump along with his sons and entrepreneurs late Monday launched a cryptocurrency platform but provided few details.

    Little was revealed about the Trump family crypto project during a two-hour online presentation other than an offer to let people buy digital “tokens” giving them a vote in platform decisions.

    The event went ahead as planned despite an apparent assassination attempt against Trump on Sunday at his golf club in West Palm Beach, Florida.

    World Liberty Financial intends to offer services based on so-called decentralized finance, a mechanism that eliminates the need for an intermediary such as a bank to carry out transactions with a third party, the politics-laced discussion indicated.

    Decentralized finance, or DeFi, is based on so-called blockchain technology, which keeps a theoretically open but tamper-proof record of transactions.

    World Liberty Financial will enable users to lend or borrow cryptocurrencies to or from one another, a service already offered by many platforms, one of the best-known of which is Aave.

    The former president’s son Donald Trump Jr. touted this as “the start of a financial revolution,” during a session streamed on X, formerly Twitter.

    Zachary Folkman and Chase Herro, the linchpins of the project and established cryptocurrency entrepreneurs, said the platform would primarily use “stablecoins”, which are backed by a traditional currency, most often the dollar.

    As a result, they are free from the sometimes brutal fluctuations experienced by digital currencies untethered to real-world money.

    World Liberty Financial wants to attract the masses to cryptocurrencies, creating a platform easily accessible to people, Folkman said.

    Project leaders said they would sell tokens that give owners the right to take part in the governance of the platform, with 63 per cent of them offered to the public, 20 per cent going to the founding team and the rest set aside as rewards for users.

    No timetable for the project was disclosed.

    During his presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, presenting himself as a “pro-bitcoin president” if elected in November.

    In so doing, he is standing in opposition to the Biden administration, which is seen as a proponent of regulating the sector.

    Author

    • TheScrutinyNG
      TheScrutinyNG

      View all posts
    Donald Trump
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    TheScrutinyNG
    • Website

    Related Posts

    Entertainment

    Darey Art Alade’s Car Completely Burnt On Third Mainland Bridge

    June 7, 2025
    Featured

    President Should Stop Appointing INEC Chairman – Groups

    June 7, 2025
    Featured

    Commissioners, Lawmakers Decline to Follow Governor Eno to APC

    June 7, 2025
    Culture & Tourism

    Enugu Governor, Mbah Mourns ‘Gwo gwo gwo ngwo’ crooner, Ejeagha

    June 7, 2025
    Breaking News

    Akwa Ibom Governor, Umo Eno Officially Joins APC

    June 6, 2025
    Entertainment

    Nollywood Actress, Aisha Lawal Denies Receiving Venza Gift From MC Oluomo

    June 6, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Darey Art Alade’s Car Completely Burnt On Third Mainland Bridge

    June 7, 2025

    President Should Stop Appointing INEC Chairman – Groups

    June 7, 2025

    Commissioners, Lawmakers Decline to Follow Governor Eno to APC

    June 7, 2025

    Enugu Governor, Mbah Mourns ‘Gwo gwo gwo ngwo’ crooner, Ejeagha

    June 7, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.