The family of former US President and Republican presidential candidate Donald Trump announced that they are preparing to shake up the cryptocurrency world with a "big event". According to Solid Intel and several cryptocurrency media sources, the new crypto project promoted by the Trump family may be called "World Liberty".
The Block reported that Trump's two sons have released announcements related to the world of cryptocurrency and decentralized finance (DeFi) through social media in the past 24 hours. Donald Trump Jr. posted on Wednesday (August 7): "We are about to shock the cryptocurrency world with a big thing. Decentralized finance is the future. Don't fall behind."
In addition, he also attached the tag "BeDeFiant" below the post, which can be understood as an attitude or state that shows a spirit of resistance, innovation and breakthrough in the DeFi field. It may encourage people to maintain independent thinking, innovation and challenge the existing financial system in the DeFi field.
The tweet followed a post on Tuesday from another of Trump's sons, Eric Trump, who wrote: "I'm really falling in love with crypto and DeFi, stay tuned for big announcements."
The only clue to the statement is a possible connection between Zach Witkoff and Steve Witkoff, a real estate mogul who is a friend of Trump and spoke at the Republican National Convention in Milwaukee in July. Steve posted a similar message that included the hashtag#BeDeFiantthe day before Trump Jr. mentioned it.
Zach then retweeted his post
Both Zack and Steve follow a crypto entrepreneur named Chase Hero, who is the managing partner of Subify, whose client is YouTuber and crypto investor Logan Paul, and he also interviewed Hero on his Impaulsive podcast.
Notably, in July, a company called AMG Software Solutions filed trademark applications for “Be DeFiant,” “World Liberty,” and “World Liberty Financial.”
This third trademark is for “providing financial information in the DeFi space,” according to its application. AMG Software Solutions has the same home address as Subify LLC.
Despite the Trump family's announcement, Trump's chances of winning in November appear to be eroding. According to Polymarket betting data, Trump's chances of winning have now fallen to 49%, the same as Vice President and Democratic presidential candidate Kamala Harris.
Bloomberg reported that Trump said at the Bitcoin 2024 conference on July 27 that if he is elected president, the United States will retain all Bitcoin held or acquired by the government, turning "huge wealth into a permanent national asset for the benefit of all Americans."
Experts say Trump's "never sell your Bitcoin" philosophy violates a core principle of U.S. forfeiture law, which states that the government sells seized assets to repay crime victims and support law enforcement.
"Most of these 'reserves' probably belong to victims of hacks, ransomware and scams," said Amanda Wick, a former federal prosecutor and head of Incite Consulting. "The money should be returned to the victims, and if they knew that, I'm sure the crypto community wouldn't say you should deceive victims into hoarding Bitcoin."
