A day after an alleged assassination attempt, former President Donald J. Trump used a livestream on Monday to promote his latest business venture: cryptocurrencies.
“Crypto is one of those things we have to do,” Mr. Trump said on X. “Whether we like it or not, I have to do it.”
He was joined by collaborators including a family friend, his two oldest sons, Donald Trump Jr. and Eric Trump, and two lesser-known crypto entrepreneurs. The team announced the launch of World Liberty Financial, a project that has already raised concerns about conflicts of interest.
Mr. Trump has been promoting the venture since August, though its exact purpose remains unclear. No official launch date has been announced. During the livestream, the former president deferred to entrepreneurs Chase Herro and Zachary Folkman to provide the details. Mr. Herro has described himself as “the dirtbag of the internet,” while Mr. Folkman has previously taught classes on the art of attracting women.
It is highly unusual for a presidential candidate to launch a new business so close to an election. Mr. Trump’s move is particularly rare, as the venture appears designed to benefit himself and his family. Throughout his political career, Mr. Trump has faced scrutiny for business dealings that ethics experts have described as problematic. He is the majority owner of Trump Media & Technology Group. Truth Social, his social media platform, accounts for a significant portion of his personal wealth, around $2 billion.
Danielle Brian, executive director of the Project on Government Oversight, a nonpartisan watchdog group, stated that Mr. Trump’s involvement in this crypto venture would present serious conflicts of interest if he were to be elected this November. The Securities and Exchange Commission has been actively scrutinizing the industry, asserting that many cryptocurrencies are unregistered securities and should be regulated like stocks trading on Wall Street.
