World
September 19, 2024 17:09
amsterdam - Former President Donald Trump has recently shown enthusiasm for cryptocurrencies, even paying a bill with Bitcoin. He and his family are now involved in a crypto company, sparking discussions about potential conflicts of interest.
Pubkey, located in the trendy Greenwich Village, serves as a meeting point for crypto enthusiasts in New York. Described as the hub for the Bitcoin revolution, the former President Donald Trump recently paid a $950 bill using Bitcoin, expressing satisfaction with the transaction. Trump's campaign has been accepting Bitcoin donations, raising over $4 million by the end of July.
While as President he dismissed Bitcoin as 'not money' in 2019, his recent actions demonstrate a shift in attitude. Trump and his family are now connected to a crypto company named World Liberty Financial. Trump announced the company's launch without divulging many details, emphasizing the necessity of embracing crypto. 'Whether we like it or not, I have to do it,' Trump stated.
Despite Trump's advocation for the new venture, concerns arise over potential conflicts of interest. The involvement of Crypto entrepreneurs Chase Herro and Zachary Folkman, alongside Trump's sons Don Jr., Eric, and Barron, has generated speculations. The exact nature of the company's operations remains unclear, but the registration of a trademark for 'World Liberty Financial' suggests the introduction of a new crypto coin, $WLFI, available for public purchase.
Documented information reveals that the Trump family holds advisory positions within the company, with Donald Trump designated as 'Chief Crypto Advocate,' Eric and Don Jr. as company ambassadors, and Barron as a 'DeFi visionary.' While distancing from ownership and management roles, the Trumps may benefit financially through the utilization of their name.
The timing of Trump's involvement in a new business venture, closely preceding elections, raises ethical concerns. Analysts warn of potential accusations of conflicts of interest, with suggestions that Trump's presidency could influence regulations favoring his company. Danielle Brian, director of the Project on Government Oversight, expresses apprehensions regarding Trump's prioritization of personal gain amidst political obligations.