Donald Trump alerts traders that US could be crypto capital of the world
- Crypto trader sentiment remains fearful on Thursday, August 29, even as former US president unveils plans for crypto.
- Donald Trump informs 90 million followers on X that there is a plan to make the US the crypto capital of the world.
- Crypto market capitalization is above $2.228 trillion, Bitcoin hovers close to $60,000 at the time of writing.
Donald Trump, the 45th President of the United States and the current Republican US presidential candidate for the November election, made a key announcement related to crypto early Thursday. Trump’s son, Eric, recently promoted the launch of their project, World Liberty Financial, on X .
The crypto market capitalization gained 1.4% in the last 24 hours, per CoinGecko data.
Donald Trump announces plan for crypto capital of the world
Donald Trump told his 90 million followers on the social media platform that he is coming up with a plan to turn the US into the crypto capital of the world. The announcement comes at a time when Trump’s son Eric is promoting the platform World Liberty Financial.
.@worldlibertyfi pic.twitter.com/mwhVIzPJyq
— Donald J. Trump (@realDonaldTrump) August 29, 2024
Trump’s son has previously described the project as a “cutting-edge platform that leverages blockchain to provide innovative financial solutions” to individuals and businesses. Eric’s platform is aimed at digital asset users and firms.
The platform was launched early on Thursday, August 29.
Excited to announce the launch of @WorldLibertyFi! A new era in finance is here. #Crypto #DeFi
— Eric Trump (@EricTrump) August 28, 2024
Donald Trump warmed up to crypto during the US presidential campaign. Trump’s appearance at the Nashville Bitcoin Conference and his supportive stance, recent tweets and statements have helped the former President gain popularity with crypto adopters and traders.
Trump launched a new round, Series 4 of his NFTs, “Trump Digital Trading Cards,” on August 28. The NFT series has been linked to Trump’s Family Enterprise and not the US presidential campaign, per a CNBC report.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
