Trump to announce plan to make US 'crypto capital of the planet'

Former President Donald Trump took to X to say he would be unveiling a plan on Thursday that will help position the U.S. as the leader in crypto.

The Republican nominee for president also tagged World Liberty Financial in his post, a DeFi project that his sons have promoted. 

"This afternoon I'm laying out my plan to ensure that the United States will be the crypto capital of the planet," Trump said in the post, which ends with the appearance of the World Liberty Financial logo.

Trump's sons, Donald Trump Jr. and Eric Trump, first teased an upcoming announcement related to crypto and DeFi a few weeks ago. Their father has also since attempted to create buzz around the apparently impending announcement.

About an hour before Trump posted on Thursday, a warning was shared on World Liberty Financial's Telegram channel, telling people to be careful of scams. "We have been made aware of some ads circulating on Telegram claiming to be from us, offering fake airdrops or token sales," it said. "We are not doing any airdrops or selling any tokens at this time."

Since speaking at Bitcoin BTC +1.25% 2024 in July, Trump appears to be becoming increasingly interested in courting crypto-conscious voters and somehow being involved at an entrepreneurial level. NFT collections using Trump's likeness have been on the market since late 2022.

At the Bitcoin conference, Trump promised to fire Gary Gensler, the Securities and Exchange Commission chair. He also said he'd stop the U.S. from selling its bitcoin holdings, creating a “strategic bitcoin reserve,” if elected in November.

It remains unclear what services World Liberty Financial will offer people or how Trump will be involved.