Former President Donald Trump has announced his latest venture into the world of business – World Liberty Financial, a cryptocurrency platform that will be under the control of his sons, Donald Trump Jr., and Eric Trump. While Trump has not shared many specifics about the platform, including when it will go live, the announcement has stirred curiosity among crypto enthusiasts.

Crypto exchanges, similar to traditional stock exchanges, provide a platform for investors to buy and sell digital currencies. They often charge fees for withdrawing Bitcoin and other cryptocurrencies. During the unveiling of World Liberty Financial, Trump remained tight-lipped about the platform's functionality, shifting the conversation towards topics like artificial intelligence (AI).

In addition to Trump, other speakers at the event, such as his eldest son, Don Jr., expressed their support for embracing cryptocurrency as an alternative to what they deem a banking system tilted against conservatives. They envision a financial ecosystem that is more inclusive and aligned with their values.

Executives involved in the venture, including entrepreneurs Chase Herro and Zachary Folkman, shed some light on the token distribution of World Liberty Financial. Folkman revealed that 20% of the platform's tokens, called WLFI, will be reserved for the founding team, which includes the Trumps. Another 17% will be set aside for user rewards, with the remaining 63% being sold to the public. Folkman encouraged potential investors to follow World Liberty Financial on X for future details.

Trump, in the midst of an interview with Farokh Sarmad, a Montreal-based cryptocurrency entrepreneur, reiterated his desire for the United States to become the global center of the crypto revolution. He warned that failing to embrace digital currencies could create a void filled by countries like China. Trump expressed his belief that crypto is an essential aspect of America's dominance in the technological landscape, alongside AI.

Interestingly, Trump mentioned that his 18-year-old son, Barron, is knowledgeable about cryptocurrencies, boasting about his son's deep understanding of his own "wallet" and having multiple wallets. This demonstrates the younger generation's affinity for digital assets, as per Pew Research Center data, which shows that young men are more likely to engage with cryptocurrencies.

Trump's change of heart regarding cryptocurrency is evident, as he previously referred to it as "a scam." Now, he sees the potential it holds and the growing number of Americans investing in or trading cryptocurrencies. Pew Research Center data further highlights that 43% of American men aged 18 to 20 have invested in, traded, or used cryptocurrencies, compared to 16% of the general population.

As details about World Liberty Financial unfold in the coming weeks, the Trump family's foray into the world of cryptocurrency is sure to attract attention. With their sights set on making America the leader in this evolving landscape, they aim to capitalize on the crypto revolution and the potential it holds for shaping the future of finance.