Trump plans to launch his sons' crypto business on Monday, 50 days before Election Day

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Former President Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company World Liberty Financial, a crypto platform controlled by the Republican nominee’s sons Donald Jr. and Eric.

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As part of his presidential campaign, Trump has pledged to turn the United States into the “crypto capital of the planet,” raising red flags that he could use the federal government to help support a business tied to his family.are forms of digital money that can be traded over the internet without relying on the global banking system. The trading often depends on online marketplaces that charge fees for transactions, so that the cryptocurrencies can be exchanged for U.S.

Trump opposed crypto during his presidency, but he has since warmed to the sector. He has suggested the government create a strategic reserve of Bitcoin and has vowed to block the creation of a Federal Reserve-administered Central Bank Digital Currency, a digital form of central bank money that would be available to the public.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

 

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