Donald Trump and his family's massive focus on cryptocurrency now made them widely popular in the country, but not so much with their allies as several of them think that this is a mistake. Trump's renowned beliefs on crypto are now a family venture, with several projects coming soon including a new DeFi platform and a new startup led by his sons.
While this venture is massive, the world is still seeing crypto at its lowest, with the Fear and Greed Index now showing it at "extreme fear" and at critical times.
Trump's Allies Think His Family's Crypto Ventures Are a 'Mistake'
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It was unveiled by Politico that Donald Trump's allies and supporters are not that keen on him and his family's newfound focus on crypto, especially with its significant ventures recently announced. In an interview with Nic Carter, a founding partner of crypto venture capital, Castle Island Ventures, said that this Trump family affair "is a huge mistake."
Carter claimed that Trump's inner circle is only riding the bandwagon on this focus by the American business mogul, saying that it is "naive."
Moreover, there is an impending risk that Trump's focus will be on the crypto industry, particularly as their side is being painted as "con artists" and linked to massive crypto frauds and scams.
The first crypto project announced by the Trump family is 'The DeFiant Ones,' a.k.a. its decentralized finance platform which has been teased all over Truth Social and X.
On the other hand, Trump's eldest sons, Donald Trump Jr. and Eric Trump, have also announced their latest startup focused on crypto called 'World Liberty Financial.' Since then, fake websites and pages have given it a bad reputation in the industry.
Cryptocurrency in the Trump Household
The entire crypto ordeal by Donald Trump began with a rumor behind his Presidential run, with him being the candidate that would champion the cryptocurrency industry in the United States. It was revealed by earlier reports that Trump is planning to bring in more Bitcoin as part of the US Strategic Reserves, replacing cash and gold assets with crypto.
It was later confirmed by the Presidential aspirant that cryptocurrency would be a significant focus of his administration, going as far as to claim that the United States will be a crypto capital. Moreover, it was also revealed by Trump at a recent conference that Bitcoin would also play a massive role in the US market, claiming that he would make it a superpower.
This in-depth focus on crypto for his bid for Presidency also unveiled that there would be several crypto projects which would be managed by his family, teased for future offers. However, despite being promising, his allies and supporters think otherwise.
Carter's sentiments about the Trump family's newfound focus on crypto is a mistake, one that may significantly impact the blockchain industry soon.
