Trump introduces his personal cryptocurrency system
The Trump clan, specifically Eric and Don Jr., have been brewing up a fresh venture for about two weeks, and their patriarch recently unveiled it. The family seems to be devising a business strategy surrounding cryptocurrencies. Information remains scant, but the Telegram channel dedicated to this project is painted vividly.
The Republican frontrunner and ex-commander-in-chief, Donald Trump, has unveiled his own crypto venture. "For far too long, Americans have endured being swindled by big banks and financial magnates," Trump wrote on his online platform, Truth Social. "It's high time for us to confront them together."
Trump refrained from disclosing specifics regarding his project - named "The Rebels." His sons, Eric and Don Jr., have been hyping this up in recent weeks. For instance, Eric Trump penned, "I'm head over heels for crypto." In an interview with the "New York Post," he termed the sector as "virtual real estate."
"Virtual real estate" might sound ambiguous. In traditional industries, it might imply technological innovations for conventional real estate properties. However, the term is also used to refer to the (partial) possession of non-tangible entities online or in the metaverse - from digital domain names to virtual concert halls where superstars could organise exclusive gigs. Fancy terms like "virtual real estate" or its German variations are not exclusive to serious entrepreneurs but are also employed by con artists to market coaching to inexperienced investors.
Trump now sits on an Ethereum fortune
During his tenure, Trump exhibited disdain for cryptocurrencies, even labeling them "fraudulent." However, his stance has recanted drastically. At a rally in late July, the septuagenarian proclaimed, "I am set to become the innovation-promoting and Bitcoin-supportive president that America needs and craves." This positions him in contrast to the US President Joe Biden's administration, which advocates strict crypto sector scrutiny.
That being said, it would be overstating it to consider Trump a rallying figurehead for the entire crypto community. A mini-poll conducted by the crypto industry publication "btc-echo" at a fair in Prague in June suggested that opinions are split. After all, Trump's name frequently triggers skepticism among crypto enthusiasts. One respondent argued that Trump's crypto infatuation is merely a marketing ploy.
According to recently published records, Trump reportedly owns between one and five million dollars in Ether, the world's second-largest cryptocurrency. A Telegram group has even sprung up to support his forthcoming crypto platform. The group photo shows Trump shortly after the attack on him - with blood on his face and a triumphant fist raised skyward.
Donald Trump's sons, Eric and Don Jr., have been actively promoting their father's newly announced crypto venture, which they've been developing for two weeks. In a recent post on his online platform, Truth Social, Donald Trump referred to the crypto sector as an opportunity to "confront" financial magnates and protect American investors from being swindled.
