As the U.S. presidential election approaches, former President Donald Trump and Vice President Kamala Harris are vying for influence. Trump's new crypto project has come under the spotlight.
Trump's New Project
Donald Trump has drawn public attention with his new DeFi sector project called World Liberty Financial. This project, aimed at supporting Bitcoin and cryptocurrencies, could enrich not only developers but also the Trump family if it successfully raises $537 million from token sales.
Warnings from TD Cowen
Investment bank TD Cowen has expressed concerns about the project. Jaret Seiberg from the TD Cowen Washington Research Group stated that Trump's project could become a major political issue for the cryptocurrency industry.
Potential Consequences
If Trump wins the election, the likelihood of cryptocurrency legislation being enacted would be lower than if the Trump family started World Liberty Financial. Democrats will avoid supporting any project or bill perceived to enrich the Trump family for political reasons.
Former President Donald Trump's new project has sparked controversy and could significantly impact future cryptocurrency regulation.
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