Trump crypto venture WLFI a ‘potential pump-and-dump disaster’
The launch of the Trump family crypto venture, World Liberty Financial, during a US election campaign carries risks, possibly hurting both his campaign and the crypto industry’s image.
Former United States President Donald Trump could be playing a risky game by backing a new decentralized finance (DeFi) project.
Trump has put his personal brand on a number of eccentric products, from gold sneakers to Bibles, silver coins and most recently watches.
The former president and business mogul is reportedly busy launching the DeFi protocol World Liberty Financial (WLFI) and its token.
Still, this foray has been met with skepticism and doubt from within the crypto industry as it could harm Trump’s candidacy as well as the crypto industry’s already less-than-stellar reputation.
The fact that a presidential candidate is diving into the DeFi sector does not impress Mark Cuban, an American businessman and open supporter of Vice President Kamala Harris’ candidacy.
Cuban told Cointelegraph that despite being a fan of DeFi, he doesn’t find anything “innovative or valuable about adding another DeFi offering” to the sector. The famous investor says this is just one more of Trump’s marketing schemes:
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Author: Daniel Ramirez-Escudero
