Donald Trump teases US ‘crypto capital of the planet’ plan

Former President Donald Trump has announced his intention to make the United States a global cryptocurrency hub if elected.

Trump said on Aug. 29 that he would lay out his plan to ensure America becomes the “crypto capital of the planet” as blockchain and digital assets increasingly feature in U.S. political campaigns. Trump’s X post also mentioned the World Liberty Financial initiative, spearheaded by his sons Donald Trump Jr. and Eric Trump.

Details on the project were scarce at the time of going to press, but rumors suggest that the project revolves around real-world assets and tokenization.

Trump’s sons have also warned crypto advocates about scams and impersonators on the project’s official Telegram channel, which has more than 53,000 subscribers. Trump has yet to reveal how involved he might be with World LibertyFi or what the initiative aims to achieve.

Donald Trump’s crypto exchange

Donald Trump first introduced himself as a champion of the industry during a gala in May and began making pro-crypto statements to attract web3 votes.

Trump’s bullish rhetoric continued at the Bitcoin (BTC) 2024 conference in July, where the Republican party candidate promised to create a strategic Bitcoin reserve and fire current Securities and Exchange Commission chairman Gary Gensler.

As the odds between a Trump win and Democratic candidate Kamala Harris becoming president have been volatile lately, the cryptocurrency appears to be leaning toward the former president and his alleged policies.

Additionally, a Bitcoin bill introduced by Republican Senator Cynthia Lummis of Wyoming is reportedly gaining momentum in the Senate. Like Trump’s plan, Lummis’ proposal would use America’s existing stockpiles and leverage Gold certificates for a twenty-year Bitcoin HODL.

Senator Cynthia Lummis, Representative from Wyoming – #Wyoming The Blockchain conference is talking about the Strategic Bitcoin Reserve Plan, which will be voted on in the Senate in 2025:

“It’s going really well,
We proposed to use our Gold Certificates, to put them on the market, to sell them for dollars.
Investment… pic.twitter.com/I2yQ1mpCI1

— MartyParty (@martypartymusic) August 29, 2024