Donald Trump is promoting his sons’ crypto company, World Liberty Financial

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Donald Trump and his sons are promoting a new crypto platform as the Republican presidential candidate vindicates the digital asset sector just 50 days before the US election.

Trump, Donald Trump Jr and Eric Trump, along with New York real estate developer and major Trump donor Steve Witkoff and sons Alex and Zach Witkoff, joined an X Spaces conversation on Monday where World Liberty Financial was officially announced.

The company says its “mission is very clear: Make crypto and America great by driving mass adoption of stablecoins and decentralized finance.” Few additional details were provided, though several speakers described a desire to improve accessibility and usability for crypto users. A token will also be provided, said Corey Caplan, project advisor.

“We’re embracing the future of crypto and leaving behind the big slow and outdated banks,” Trump said in a video last week teasing the announcement.

During Monday’s interview at his Florida resort Mar-a-Lago in Florida, Trump told moderator and “proud crypto bro” Farokh Sarmad that conversations with his sons changed his mind about the benefits of digital assets.

“He’s talking about his wallet — he’s got four wallets or something,” Trump said of his 18-year-old son Barron. “And I’m like, ‘What’s a wallet? Explain that to me.”

“It’s almost like young people know a lot better than older people,” Trump added during the interview, a day after he was targeted in an apparent assassination attempt on a Florida golf course.

“I think decentralized finance is the way of the future,” Steve Witkoff said during Monday’s event.

Zak Folkman, an employee of the company, said that World Liberty Financial will not “reinvent the wheel”, but will use “simple products”, interacting with tokens known as stablecoins, whose value is tied to the US dollar.

The company hasn’t given many details about how it will work or what products it will offer. He warned X on Monday night: “Beware of scams! Fake tokens and AirDrop offers are circulating. We’re not live yet!”

Trump’s pro-crypto comments marked a departure from his previous views. He said that the value of cryptocurrencies is based on “a little bit of time” and that investing in them is “potentially a disaster waiting to happen.”

But Trump embraced digital assets during the 2024 campaign, accepting cryptocurrency donations and calling for the US to be the “crypto capital of the planet.”

He has won the support of investors in the sector, such as influential venture capitalists Marc Andreessen and Ben Horowitz, the co-founders of the Gemini exchange Tyler and Cameron Winklevoss, and the co-founder of the Kraken exchange Jesse Powell.

Crypto groups have increasingly exerted their power, raising hundreds of millions of dollars to support sympathetic candidates and stepping up a lobbying campaign against Securities and Exchange Commission Chairman Gary Gensler, who has cracked down on the industry.

In July, Trump promised at the Bitcoin 2024 conference in Nashville that he would “fire” Gensler on his first day in office, to a huge roar from the audience.

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