Former President Donald Trump has launched a new cryptocurrency project called World Liberty Financial, promising it will be a crypto banking platform. The project is owned by a small group of Trump family members and insiders, who will receive 70% equity. Trump discussed the project during a Twitter Spaces event, highlighting his sons' knowledge of the cryptocurrency industry and criticizing the Securities and Exchange Commission's stance on digital currencies.
For over a month, Republican former President Donald Trump and his family have been pumping up a secretive family crypto project, promising that it will do many things at once.
Now, with 50 days until the presidential election, the Republican nominee said he would be launching World Liberty Financial in a Twitter Spaces event that began shortly after 8 p.m. ET Monday from his Palm Beach resort and home, Mar-a-Lago. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
"As I began to understand that, I said, 'Who would understand this better than this than the Trump family?' And we had a meeting initially with Eric, Don Jr, and the president and his counsel. And we said, Let's go pursue it. We've been on it for close to nine months," said Witkoff. Alongside Trump and Witkoff, founders include Donald Trump Jr., Eric Trump and Barron Trump, as well as Witkoff's son, Zach Witkoff, according to a person briefed by a member of the group's founding team.The anonymous gmail account that replied to CNBC claimed the project had not yet produced a white paper, raising additional questions about whether it was prepared to launch on Monday.
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