In a surprising move, former President Donald Trump announced the launch of a new cryptocurrency business called World Liberty Financial. Trump's sons have been actively promoting the venture, while Trump himself has been teasing the expansion on his social media platform. The announcement comes just 50 days before the presidential election, further fueling speculation about the ethical conflicts that may arise if Trump wins a second term.

The details surrounding World Liberty Financial are still limited, but Trump's enthusiasm for cryptocurrencies and his desire to break away from traditional banks have been evident. In a recent social media post, he wrote, "We're embracing the future with crypto, and leaving the slow and outdated big banks behind." Despite a recent apparent assassination attempt on Trump while golfing, the virtual unveiling of the business is expected to proceed as planned.

Trump's third White House bid has been marked by his unprecedented utilization of his candidacy for personal profit. Since entering the race nearly two years ago, he has capitalized on his political image, generating millions of dollars through the sale of Trump-branded items and a social media platform where he directly engages with his supporters.

From coffee table books featuring moments from his presidency to Trump-themed Bibles, Trump has relentlessly marketed his brand. He has even sold golden sneakers for $399 and advertised "stunning digital trading cards" priced at $99 each, with the added incentive of a dinner gala and pieces of a suit he wore during a debate with President Joe Biden.

While previous presidential candidates have typically sought to distance themselves from conflicts of interest, Trump's latest enterprise raises concerns about overlapping obligations. Trump has promised policies favorable to digital currencies while courting the votes and financial support of the bitcoin community. Now, with his involvement in World Liberty Financial, these policies could directly benefit his newly-launched business.

Legal experts highlight that the risks associated with Trump's venture extend beyond financial implications. Given the potential attraction of hackers and investors based solely on his celebrity status, enforcement action by the next administration could have significant consequences. This reality must be taken seriously if Trump's new business venture gains traction.

Presidential candidates are not mandated by law to divest from their wealth before taking office. However, historically, they have made efforts to assure voters of their independence from personal financial interests to avoid any appearance of impropriety. Trump, on the other hand, chose to hand over his businesses to his sons rather than divesting or implementing measures to separate himself from their management.

Neither the Trump campaign nor Trump himself have responded to concerns regarding the ethical implications of his latest venture. Nevertheless, they insist that World Liberty Financial will not detract from his focus on the upcoming election against Vice President Kamala Harris.

Trump's history as a businessman and his knack for capitalizing on his fame have been evident for decades. His previous licensing deals and product launches have proven lucrative. Financial disclosures from August reveal that he made approximately $7.2 million through a licensing deal with NFT INT, LLC, selling digital NFT "trading cards" featuring himself. Additionally, Trump reported making over $5 million through CIC Ventures LLC from royalties associated with his books and $300,000 in royalties from "The Greenwood Bible."

As Trump continues to mix business with the campaign trail, questions arise regarding potential ethical quandaries posed by his various post-presidency endeavors. The unveiling of World Liberty Financial, a venture in the nascent cryptocurrency industry, adds another layer of complexity. The next president will undoubtedly face the challenge of navigating this speculative sector of financial technology and determining whether to encourage its growth or establish regulatory guardrails.