Trump’s crypto project launches a new digital currency
Witkoff and his father, the special diplomatic envoy of Trump Steve Witkoff, helped launch World Liberty Financial with Trump and his children last year. According to the terms outlined on the company’s website, a company owned by Trump has the “right to receive 75 % of the revenue of the net protocol” from World Liberty Financial after the expenses.
On Monday, Trump Media announced that he was collaborating with the cryptocurrency company Crypto.com to launch the exchanges treated in exchange that investors can buy. The funds, which will be released by the end of the year, will include a “a single ETF of cryptocurrency ETF”, as well as “titles with a focus on America made in America that covers different industries such as energy,” Tmtg said in an announcement.
TMTG is the mother society of the social media company of Trump, Truth Social. Trump does not play a decision -making role at the company, but has a majority participation and is his biggest shareholder. The price of TMTG actions jumped after the announcement.
Recent ads are added to a growing list of cryptographic projects that Trump has approved in ways that critics are inappropriate for a public offices holder.
A few days before entering in office, Trump launched his meme currency which initially saw a massive peak price followed by a prolonged slide. Meme coins are highly speculative resources that often start like a joke and have no real value. Trump also promoted online watches and sneakers who have branched out in the sale of Trump products relating to cryptocurrencies, including a “cryptographic president” watch that sells $ US100,000.
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Once a cryptographic skeptic, Trump embraced digital resources and committed himself to making the United States “world capital” for cryptocurrencies. He took several first steps to help improve the cryptocurrency industry, which he has spent heavily to help Trump win the elections last year and emerged as a powerful political force.
Before entering in office, the Trump family business released a voluntary ethical agreement that forbids the president from the “newspaper” decision -making process of its companies and limits the financial information shared with him. But that agreement does not prevent him from promoting his cryptographic products, as he did on social media on Sunday when he advertised his coin.
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