Republican presidential candidate Donald Trump teased a plan Thursday that would make the U.S. the "crypto capital of the planet," while also promoting the family-backed cryptocurrency project, World Liberty Financial.
What happened: In an X post this morning, Trump shared a video with his voiceover, "This afternoon, I'm laying out my plan to ensure that the United States will be the crypto capital of the planet. They want to choke you out of business. We're not going to let that happen."
The former president also tagged the official World Liberty Financial account, a decentralized finance (DeFi) platform that he and his sons, Donald Trump Jr. and Eric Trump, have been promoting for weeks.
While the video implied that important announcements might come by afternoon, nothing concrete was announced at the time of writing. Trump’s campaign team didn’t immediately respond to Benzinga’s request for comment.
See Also: Donald Trump’s Pro-Bitcoin Stance Influenced Ethereum ETF Approval, Analyst Posits
Why It Matters: On the same day last week, Trump promoted the DeFi initiative through Truth Social, a social networking app he set up in 2022.
"For too long, the average American has been squeezed by the big banks and financial elites," Trump declared in his post. "It's time we take a stand — together."
The cryptocurrency project, backed by the family-owned conglomerate, The Trump Organization, was earlier referred to as "digital real estate" by Eric Trump and one that would rival traditional banking.
The platform's official Telegram channel has more than 57,000 subscribers as of this writing, with numbers increasing by the day.
The presidential hopeful has pivoted toward cryptocurrency as part of its election campaign. He recently launched the latest NFT collection, which has raked in more than $2 million in revenue.
Trump's Democratic rival Kamala Harris expanded her lead over the ex-president to 45% to 41% in the latest Reuters/Ipsos poll, with notable gains among women and Hispanic voters.
Price Action: As of this writing, Trump-themed Maga TRUMP/USD was exchanging hands at $3.36, up 0.75% down 2% in the last 24 hours.
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