Former President Donald Trump is set to launch a new cryptocurrency initiative, “World Liberty Financial,” next week.
The announcement is expected to be made on Monday at the Mar-a-Lago resort in Florida, News.Az reported, citing The Independent.
President Trump claims the project will change the financial landscape and “leave behind slow, outdated big banks.”
The project is being led by his two sons, Donald Jr. and Eric Trump, but little is known about what the venture will entail.
In a recent interview with the New York Post, Eric Trump described this as “digital real estate,” which refers to either the creation of virtual assets within the metaverse or the digital tokenization of real-world assets in the form of non-fungible tokens (NFTs).
“This is fair. This is collateral that anyone can access immediately,” he said. “I don't know if people understand what a game changer this is for the banking and financial industry. I hope we can help change that.”
Earlier this month, tens of thousands of followers of Donald Trump were tricked into joining a fake group on the messaging app Telegram that claimed to be offering free cryptocurrency giveaways from the Trump-backed platform.
The group has since been removed, but ads promoting the fraudulent giveaways continue to be shown to its 150,000 members. Telegram did not respond to The Independent's request for comment.
News.AZ
