Trump Promised to Turn the U.S. Into the 'Crypto Capital of the World' – But Did He Actually Follow Through?

In typical Trump style, the Republican presidential candidate announced he was ready to unveil a blueprint for making the United States the “crypto capital of the planet." With nearly 90 million followers hanging on his every word, the anticipation was palpable. However, as the day unfolded, that promise disappeared into thin air.

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Trump's day was packed with rallies in Michigan and a town hall in Wisconsin, but by the time the sun set, the highly anticipated crypto plan had not been mentioned. A campaign spokesperson did not respond when CNBC inquired about the apparent no-show.

Throughout Thursday, many pro-crypto Trump supporters were eager to hear what the Republican candidate had in store. "We're really excited to hear what he has to say about crypto," said one enthusiastic supporter in Michigan. Others echoed this sentiment, especially given that Tulsi Gabbard, a known Bitcoin supporter and former Congresswoman, moderated the night’s town hall.

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But despite the perfect opportunity, Trump said nothing about digital assets.

Earlier in the day, Trump had hyped up the Trump Organization's new crypto platform, now rebranded as "World Liberty Financial." In a post on X, he shared a video with a voice-over declaring, "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. They want to choke you out of business. We're not going to let that happen."

Who exactly "they" referred to remained a mystery, as the Trump campaign declined to clarify. In the same post, Trump tagged a verified account, "World Liberty Fi" or WLFI, which had just over 32,000 followers. The account appeared new, with its first posts dating back to August 22.

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Trump's sons, Donald Trump Jr. and Eric Trump, were also involved in the project. "Excited to announce the launch of @WorldLibertyFi! A new era in finance is here," Eric tweeted.

As of Thursday evening, the accompanying Telegram channel for World Liberty Financial had more than 57,000 subscribers, and the number is still rising. Yet, details about the platform remained scarce.

Adding to the intrigue, Trump had launched a new round of NFT trading cards the day before, another venture tied to the Trump brand but separate from his presidential campaign. The NFTs and the crypto platform seemed to be part of a broader effort to connect with crypto enthusiasts while also making a profit.

For Trump, these ventures serve dual purposes: wooing the crypto voter base and fundraising. The campaign has reportedly raised $25 million from crypto-related donations, though CNBC could not independently verify that figure.

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As of Thursday, what World Liberty Financial would do was still unclear. Trump's sons offered differing explanations. Donald Trump Jr. suggested it would rival traditional banking by providing decentralized financial services, while Eric hinted at involvement in digital real estate, possibly through tokenizing assets or selling digital versions in the metaverse.

Last week, Trump described the project on Truth Social as a way for Americans to "take a stand – together" against big banks and financial elites.

"For too long, the average American has been squeezed by the big banks," Trump wrote, but whether his promise of a crypto revolution will come to fruition remains to be seen.

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