Trump Promises Crypto Support in Re-election Bid

As former President Donald Trump launches his cryptocurrency venture, World Liberty Financial, he is facing scrutiny from Democrats who are concerned about potential conflicts of interest and the implications of his business during an election campaign. Trump's project, which aims to be a decentralized finance platform, is expected to open a significant portion of its token supply to individual investors, raising questions about regulatory oversight. Former SEC officials suggest Trump's reelection could lead to a more favorable regulatory environment for crypto, with Trump promising to address SEC enforcement if he returns to office. Current SEC members have criticized the agency's lack of clear guidelines for the crypto industry, which has contributed to a perception of politicization in its regulatory approach. Trump has publicly criticized SEC Chair Gary Gensler, indicating that replacing him would be a priority if he wins. The upcoming election's outcome could significantly impact the future of cryptocurrency regulation in the U.S.