The massive interest of Donald Trump and his family in cryptocurrencies has now made them very popular in the country, but not so much with their allies that many of them think it is a mistake . Trump’s renowned crypto beliefs are now a family business, with several upcoming projects including a new DeFi platform and a new startup led by his sons.
Although this undertaking is massive, the world still sees crypto at an all-time low, with the Fear and Greed Index now showing it at “extreme fear” and critical times.
Trump allies think his family’s crypto plans are a ‘mistake’
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It was revealed by Policy that Donald Trump’s allies and supporters are not very enthusiastic about him and his family’s new focus on crypto, especially with his recently announced major plans. In an interview with Nic Carter, founding partner of crypto venture capital Castle Island Ventures, said this Trump family affair “is a huge mistake.”
Carter claimed Trump’s inner circle was just following the American business mogul’s bandwagon, saying it was “naive.”
Additionally, there is an imminent risk that Trump will focus on the crypto industry, especially as his camp is portrayed as a “crook” and linked to massive crypto frauds and scams.
Trump’s Defiant Ones, World Liberty Financial
The first crypto project announced by the Trump family is “The DeFiant Ones,” aka its decentralized finance platform that has been teased all over Truth Social and X.
On the other hand, Trump’s eldest sons Donald Trump Jr. and Eric Trump also announced their latest crypto-focused startup called ‘World Liberty Financial’. Since then, fake sites and pages have given it a bad reputation in the industry.
Cryptocurrency in the Trump House
The whole Donald Trump crypto ordeal started with a rumor behind his presidential bid that he would be the candidate to champion the cryptocurrency industry in the United States. Previous reports revealed that Trump plans to introduce more Bitcoin as part of the American strategic reserves, replacing cash and gold assets with cryptocurrencies.
The presidential candidate then confirmed that cryptocurrency would be an important priority of his administration, going so far as to claim that the The United States will be a crypto capital. Additionally, Trump also revealed in a recent conference that Bitcoin will also play a massive role in the US market, saying it will make it a superpower.
This in-depth focus on crypto for his presidential bid also revealed that there would be several crypto projects that would be run by his family, teased for future deals. However, although promising, his allies and supporters think otherwise.
Carter’s feelings regarding the Trump family’s new focus on crypto are a mistake, one that could soon have a significant impact on the blockchain industry.
