Last night, Donald Trump announced his cryptocurrency project World Liberty Financial live on social audio room X (formerly Twitter). And, as some have suggested, it was a total flop.
The announcement was made from a room at Trump's Mar-a-Lago resort with Farrokh Sarmad, co-founder of the eponymous Rag Radio.
Trump announced it on August 29, but over the next two weeks, many commentators predicted the announcement would not go down well. Farokh mentioned the project again, but gave no details.
An hour into the #interview , when the number of listeners had dropped below 90,000, Trump's son Donald Jr. said the project would be somehow related to real estate.
Another 10,000 regular listeners left, and Farokh moved on to talk about another family.
Shortly thereafter, someone said the project would be related to stable coins. Another 5,000 people left.
Don Jr. said all stable coins are backed by U. S. Treasuries in one form or another.
When less than 75,000 listeners were left and 90 minutes had passed, Farrokh tried to turn the conversation to Trump's youngest son, 18-year-old Barron. But the teenager had already left. In short, the launch of the show was an unprecedented failure. So much so that World Liberty Financial didn't even bother to post details on its Telegram feed.
just two hours after the incoherent program launched, listenership had dropped below 47,000, down 72% from its peak of more than 170,000. By the time someone said that World Liberty Financial would issue "non-transferable" management tokens in the future and restrict their use to accredited investors, the number of listeners had dropped below 40,000.
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