As the Trump family reduces its involvement in the crypto project World Liberty Financial, Democrats seek to ban the president's participation in the sector. Explore the intricate stakes surrounding this story and its implications for the future of cryptocurrency.
After intense criticism from Democrats regarding Donald Trump‘s active involvement in the cryptocurrency sector, the Trump family has decided to reduce its stake in World Liberty Financial. According to Forbes, their stake dropped from 60% to just 40% in a mere 11 days. The Trump family had launched this project just before last year’s American presidential elections.
Democrats like Representative Maxine Waters even introduced a bill, the “Stop Trump in Crypto Act”, aiming to ban the president’s involvement in the cryptocurrency domain. However, this proposal failed to advance past the Committee stage.
Facing these political pressures, Republicans and Democrats have finally agreed to include a provision on conflicts of interest in the CLARITY Act. This measure aims to prevent the president, vice president, and members of Congress from actively participating in the cryptocurrency sector. However, the White House opposed it, thereby blocking the legislative process.
Despite the Trump family reducing its stake, World Liberty Financial, the issuer of the stablecoin USD1, scored a significant win with the recent adoption of a stablecoin bill. Does this signify a change in direction for the company? The future of the Trump family’s involvement in the cryptocurrency sector remains uncertain, and regulatory developments could also impact World Liberty Financial’s operations.
As the cryptocurrency sector continues to evolve, businesses and political figures face regulatory and ethical challenges. The story of World Liberty Financial and the Trump family illustrates the complex issues surrounding the involvement of political actors in the cryptocurrency domain.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
