The light is strongly on his youngest boy, Barron Trump, but his children Donald Trump Jr. and Eric Trump are in charge of the bold new crypto platform World Liberty Financial.
At only 18 years old and a rookie at New York University, Barron has been named the program’s” DeFi visionary”, signaling his unexpected and important role in shaping the future of the Trump mother’s financial ventures, reported CBS.
Donald Trump hailed the app as” the future of crypto,” and the announcement will be made from Mar-a-Lago on September 16. Barron, whose responsibilities will focus on decentralized finance ( DeFi ) services, has been described in the project’s white paper, obtained by CoinDesk, as the key architect behind the family’s push to leave traditional banking behind and embrace blockchain technology.
Donald Trump stated in a film promoting the new endeavor that” we’re embracing the future with blockchain and leaving the slow and archaic big banks behind.”
DeFi, little for distributed financing, represents a new frontier in the economic world, offering solutions like financing, loans, and buying through blockchain technology. Barron, according to CBS, is entering this creative and complicated field, apparently positioning himself as a major player in the bitcoin industry, despite previously being out of the public eye.
With 70 % of the company’s currencies reserved for executives and the rest to get sold formally, World Liberty Financial has been shrouded in mystery. Barron’s presence adds a level of intrigue as the youngest Trump to take on a prominent position in the family company.
” Financial freedom is what we’re promoting”, Eric Trump said in a new speech, but Barron’s position as the DeFi planner may be what truly sets this walk off. His emphasis on decentralized finance is seen as a move to bypass traditional banks and change the way financial services are conducted.
Yet, the move comes with controversy. Critics question whether the former president’s campaign promises to make the United States the” crypto capital of the planet” are a part of a larger plan to mash political influence with personal business interests. Citizens for Responsibility and Ethics spokesperson Jordan Libowitz warned that the troubling aspect is doing it while finding a way to gain from it personally.
Despite the controversy, the Trumps remain steadfast, with Eric Trump describing the venture as promoting “financial independence”, and Donald Trump Jr. vowing to “make finance great again”.
