Former U.S. President Donald Trump took to social media platform X on Monday to promote his latest business venture in cryptocurrencies, just a day after an alleged assassination attempt. The venture, named World Liberty Financial, was unveiled during a livestream where Trump emphasized the necessity of getting involved in the crypto market.
"Crypto is one of those things we have to do," Trump said. "Whether we like it or not, I have to do it."
Alongside Trump were some of his family members and business partners, including a family friend and two lesser-known crypto enthusiasts. This group has sparked concerns due to their lack of experience in managing high-profile crypto businesses, as well as questions regarding potential conflicts of interest given Trump’s political career.
While Trump has been promoting this venture since August, the exact nature and purpose of World Liberty Financial remain somewhat unclear. During the livestream, Trump avoided discussing the specifics of the business, leaving most of the explanation to his partners.
It’s uncommon for a presidential candidate to start a new business venture so close to an election. However, Trump has a history of business dealings that have drawn scrutiny from government ethics experts. He is the majority owner of Trump Media & Technology Group, which owns Truth Social, a social media platform that makes up a significant portion of his personal wealth.
Danielle Brian, executive director of a nonpartisan watchdog group, has expressed concerns about potential conflicts of interest if Trump were to be re-elected while involved in the crypto business. "Trump would be able to push regulatory agencies to favor businesses he is involved in," Brian said, noting similar issues with his ownership of Truth Social.
World Liberty Financial’s leadership team also includes real estate magnate Steve Witkoff, a close friend of Trump, and his son Zach. Both are involved in the new venture. Witkoff was reportedly golfing with Trump when the Secret Service intercepted the attempted assassination on the former president at a Florida golf course.
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