Donald Trump Reiterates Support for Crypto Industry During Debut of World Liberty Financial
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Donald Trump expressed strong support for the U.S. crypto industry during a live X Space event on September 16, 2024, from Mar-A-Lago, Florida; He criticized the SEC and the Biden-Harris administration for being hostile towards crypto; Trump claimed that Democrats are hindering the U.S. from becoming the world capital of crypto, warning that China could take over; He acknowledged the need for a legal framework for crypto but stated that it should have safeguards; Trump revealed details about his DeFi project, World Liberty Financial (WLF), which aims to make lending and credit more accessible; The project was previously named 'The Defiant Ones' and announced in August 2024; WLF's governance token, WLFI, will allocate 63% to the public, 17% to users, and 20% to the executive team; Trump mentioned that his sons, especially Barron, influenced his interest in crypto; The project has faced skepticism due to the inexperience of its promoters; WLF is working with security experts to address concerns; Folkman cautioned against scams in the crypto space.

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