Donald Trump Launches Son’s Crypto Business, What Impact Will It Have on US Presidential Election?

Previously, World Liberty Financial, the highly anticipated crypto project promoted by the Trump family, has launched its ambitious mission to maintain the global dominance of the US dollar through the strategic use of stablecoins.

As reported by Coinmarketcap, Thursday (12/9/2024), the project team outlined their vision to make crypto and America great by encouraging mass adoption of stablecoins and decentralized finance (DeFi).

The project emphasizes its commitment to preserving the U.S. dollar’s ​​role as the world’s settlement layer for the next century. The team argues that the dollar, long considered the backbone of global finance, is under attack from foreign nation states.

The statement comes amid growing concerns about de-dollarization, fueled by the emergence of rival economic blocs and the declining share of the US dollar in global financial reserves.

World Liberty Financial is positioning itself as a solution to this perceived threat to the United States’ economic dominance. While specific details are scarce, the project hints at a decentralized credit account system for borrowing and lending, as outlined in a leaked white paper.

Responding to speculation about its technological foundations, World Liberty Financial clarified its relationship with Aave, a leading crypto lending protocol.

The team said it is emphasizing a collaborative approach aimed at setting new standards for the entire DeFi ecosystem. The project also touts partnerships with leading security firms, including Zokyo, Fuzzland, PeckShield, and BlockSec, which have reportedly audited the project’s code.

This emphasis on security comes after recent major hacks in the DeFi space, highlighting the team’s awareness of potential vulnerabilities. The involvement of the Trump family has been a significant driver of interest in World Liberty Financial. Donald Trump’s eldest sons, Eric and Donald Jr.