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A few days ago, former President Donald Trump made headlines by announcing his family’s decentralized finance (DeFi) platform, World Liberty Financial, boldly claiming the initiative is “embracing the future with crypto.” Meanwhile, over on Polymarket.com, a blockchain-powered predictions platform, a new bet has surfaced. Speculation is growing about the chances of Trump launching his own cryptocurrency before the election. As of today (September 16, 2024), Polymarket users are betting with 71% confidence that this could become a reality. Currently, there’s an active wager on Polymarket titled “Will Trump launch a coin before the election?” with the total value sitting at $2.23 million.
Trump, who was once an outspoken critic of cryptocurrency during his presidency, has since shifted his stance and embraced the sector. He has even suggested that the U.S. government create a strategic reserve of Bitcoin and pledged to block the creation of a Central Bank Digital Currency (CBDC) administered by the Federal Reserve. The CBDC would be a digital form of central bank money that would be available to the public, but Trump has vowed to stop it as part of his presidential campaign promises. Additionally, Trump has pledged to transform the United States into the “crypto capital of the planet.”
Cryptocurrencies are digital forms of money that can be traded over the internet without the need for traditional banking systems. Trading typically occurs on online marketplaces that charge transaction fees, allowing users to exchange cryptocurrencies for U.S. dollars or other fiat currencies. These marketplaces are essential to the functionality of cryptocurrencies, providing liquidity and access to traders worldwide.
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