--- title: "Donald Trump Seems Completely Baffled by His Own Crypto Project" description: "Donald Trump has launched a brand new family crypto venture — and it's unclear if he knows how cryptocurrencies even work." date: "2024-09-17" modified: "2024-09-17" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/donald-trump-world-liberty" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "donald trump" - "politics" - "stablecoins" - "the digest" --- # Donald Trump Seems Completely Baffled by His Own Crypto Project ![Donald Trump has launched a brand new family crypto venture — and it's unclear if he knows how cryptocurrencies even work.]() *\Image: Justin Sullivan via Getty\* ## Stablecoin Genius With just six weeks until Election Day, Donald Trump has launched a brand new family cryptocurrency venture — and it's unclear if he even knows how crypto even works. As the [*New York Times* reports](), Trump waxed vague and prolific during his [lengthy livestream on X-formerly-Twitter]() announcing the new [stablecoin project](), known as World Liberty Financial, which the presidential hopeful is launching alongside his three sons. "Crypto is one of those things we have to do," Trump prevaricated during the chat. "Whether we like it or not, I have to do it." That's a far cry from his former stance that crypto is a "[scam]()" — but what's perhaps funniest about the entire endeavor is that despite his [complete flip-flop]() on the subject, it doesn't appear that the real estate mogul has any real understanding of what he's selling. Indeed, as [pundit Aaron Rupar noted]() on the Elon Musk-owned social network, Trump seems to have "absolutely no clue what crypto is." Instead of offering the kinds of [fuzzy platitudes]() that make up the rest of his [incongruent political platform](), the Republican presidential nominee just seemed to be saying random high-tech sounding words in hopes that something would land. "Well, it's crypto, it's AI, it's some of the other things," Trump said. "You know, AI, speaking of an interesting future, it needs tremendous electricity capability, beyond anything I've ever heard." ## Past Participle Strangely enough, the third-time presidential hopeful seemed to have a better grasp of what crypto is and how it works back when he was against it. When he was in office the first time around, Trump derided the digital tokens as "[not money]()" and said their "value is highly volatile and based on thin air." "Unregulated Crypto Assets can facilitate unlawful behavior," he continued in the same tweet, "including drug trade and other illegal activity." Now that his tune has changed so tremendously Trump is not only the [owner of millions of dollars]() worth of these "unregulated" assets but also seems to be [getting millions in campaign donations via crypto]() as well. Between [being twice impeached]() and becoming the [first former president in US history]() to be found guilty of a felony over his "hush money" payments to porn actress Stormy Daniels, it seems mighty risky for Trump to be embarking on yet another dubious financial scheme this close to the election. Then again, this is the guy who said he could [shoot someone in the middle of Fifth Avenue]() without losing voters — and unfortunately, at this point he just might be right. **More on Trump's crypto campaign:** [*Trump's New Crypto Project Is a Type Linked to Organized Crime and Terrorism*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()