Two days ago, former President Donald Trump made headlines when he announced his family’s decentralized finance (defi) platform, World Liberty Financial, boldly declaring that the initiative is “embracing the future with crypto.” Meanwhile, on Polymarket, a blockchain-based prediction platform, a new bet has emerged. People are now speculating on the possibility of Trump launching a cryptocurrency before the election. As of this weekend, Polymarket users are betting with 69% confidence that this could become a reality.
Will Trump Issue a Cryptocurrency? Polymarket Bets $1.95 Million on It
The burning question on everyone's minds: Will Donald Trump and his sons introduce a new crypto asset to accompany their new defi project? Polymarket certainly has its participants eager to see how things play out. Currently, there is a bet on Polymarket titled "Will Trump Launch a Coin Before the Election?" worth a total of $1.95 million.
The betting rules state:
This market will decide 'Yes' if there is solid, definitive evidence that Donald Trump was involved in the implementation of a new token on November 4, 2024, 11:59 PM ET. Otherwise, this market will decide 'No'. The decision for this market will be based on consensus of trusted sources.
On Saturday, September 14, an archived snapshot of the market showed that bettors on Trump’s potential token had a 69% chance of launching. Two days ago, when Trump first made his announcement, the odds had risen from 40% to the current 69%. However, anticipation remains, as the official launch of World Liberty Financial (WLF) won’t take place until September 16.
Trump is scheduled to appear live on X Spaces (formerly Twitter) at 8 p.m. to introduce the WLF. While there have been rumors of a possible Trump-branded cryptocurrency, some skepticism is emerging, as can be seen in the comments section of the bet. One user noted, “Things are not looking good for the ‘yes’ bettors.”
It is also possible that the Trump family will continue to launch defi apps that integrate with existing cryptocurrencies, shelving the idea of a new coin. There is even a possibility that a token could launch after the election, as many defi projects run promotions before eventually releasing their tokens.
What do you think about the possibility of Donald Trump launching a new cryptocurrency? Share your thoughts and opinions on this topic in the comments section below.
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