Cardano Founder Warns Trump’s World Liberty Financial Could Politicize the Industry 📌📌📌
Charles Hoskinson is raising concerns about World Liberty Financial, arguing that Trump’s involvement could lead to political scrutiny and regulatory investigations affecting the crypto industry.
Cardano founder Charles Hoskinson warned on Friday that Donald Trump’s newly launched crypto platform World Liberty Financial could face serious political and regulatory challenges.
He highlighted the potential for investigations by agencies such as the Department of Justice (DoJ) and the SEC, highlighting the risk of politicizing the entire crypto industry.
🔘Trump’s Crypto Platform Could Spark Political Polarization
In an interview with the Financial Times on September 20, Hoskinson sounded the alarm about the launch of Trump’s World Liberty Financial, a new decentralized finance (DeFi) platform backed by Donald Trump Jr. and Eric Trump.
Hoskinson described the launch of this platform as potentially “scary” for the crypto industry and highlighted the risks associated with political polarization.
Political polarization is the increasing division and sharp differences in political beliefs, values, and ideologies between groups, often leading to extreme positions and a lack of consensus.
In this context, Hoskinson explained that Trump’s crypto platform, which is considered a decentralized finance (DeFi) application, could create challenges for the industry as everything Trump does is perceived to attract major opposition from political actors and parties.
Detailing the effects of such a politicized environment, the Cardano founder warned that Democrats could attempt to weaponize government institutions to slow down and harm Trump.