- August 8, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
According to recent rumors circulating in the crypto community, the Trump family may be in the process of launching a new project that invests in tokenized Real World Assets (RWA).
Trumps Aim To ‘Shake Up Crypto’
According to recent reports, former President Donald Trump and his son Donald Trump Jr. are developing a new crypto project tentatively dubbed “World Liberty” to integrate real estate investments with decentralized finance (DeFi) using blockchain technology.
Trump Jr. first hinted at the potential project in a recent social media post on the platform X (formerly Twitter), where he teased the crypto community by stating, “We’re about to shake up the crypto world with something HUGE. Decentralized finance is the future.”
The rumored project explores using blockchain infrastructure to tokenize ownership stakes in real estate assets, allowing them to be traded and leveraged within DeFi protocols. Though details remain scarce, rumors of a collaboration with blockchain developer Dogetoshi exist.
The Future Of Finance?
Traditional financial (TradFi) giants such as BlackRock, which has been increasingly involved and investing in various sectors of the crypto space, have already made their foray into the field by launching the tokenized USD Institutional Digital Liquidity Fund (BUIDL) on the Ethereum blockchain.
The fund allows investors to earn a return on their US dollar holdings through decentralized financial protocols within the Ethereum blockchain, boasting over $375 million in investments to issue tokenized and private credit funds.
Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock, explained that by representing ownership stakes on the blockchain, these tokenized assets can be more easily accessed, traded, and leveraged within the “burgeoning DeFi ecosystem.”
However, it’s important to note that the Trump family has yet to provide any official confirmation of these reported plans. The details, timeline, and even the existence of the “World Liberty” project remain speculative at the time of writing.
The total cryptocurrency market cap is valued at $1.9 trillion and has seen inflows of over $500 billion in less than two days, causing the largest cryptocurrencies on the market to plummet to lows not seen in months.
On the other hand, the leading crypto in the market, Bitcoin, has found a consolidation range between $55,000 and $56,000 in the last 24 hours after hitting a 7-month low of $49,000 on Monday.
Ethereum, one of the hardest hit cryptocurrencies during “Crypto Black Monday,” retracing about 25%, has climbed back to the $2,360 mark in the past couple of days.
Featured image from DALL-E, chart from TradingView.com
