Trump Launches Crypto Business With Family

Donald Trump announced on Monday that he had founded a cryptocurrenty company, World Liberty Financial, owned by himself and his sons Donald Jr., Eric, and Barron. He visited a crypto-themed bar in Manhattan on Thursday.

The (Lack of) Details: At this writing, it is unclear how the new company will operate. The livestream announcement revealed that it plans to "make crypto and America great by driving the mass adoption of stablecoins and decentralized finance" and sell a token to investors who meet thresholds of income and net worth. Trump followed up the announcement with a visit to PubKey, where he bought a round of burgers for bar patrons using Bitcoin.

For Context: In 2019, while president, Trump said he was "not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air." In 2021, he told Fox Business (Lean Right bias) that Bitcoin was a "scam."

How the Media Covered It: The Wall Street Journal (Center) framed the move as an appeal to "a growing subset of single-issue voters" who support crypto-friendly policy. The Financial Times (Center) covered concerns voiced by a well-known crypto entrepreneur that Trump's entering the business may bring in partisanship and drive away those on the left. Fox Business (Lean Right) highlighted Trump's bar visit and the positive reception from the owner. MSNBC (Left) pointed out his old negative comments about crypto and said it was "obvious Trump doesn’t know a thing about the crypto business."