Bitcoin and the broader cryptocurrency market are gearing up for significant developments as political and financial shifts come into focus. Former President Donald Trump has officially announced the launch of his long-awaited crypto project, World Liberty Financial, which could reshape the DeFi landscape. Meanwhile, a report from Standard Chartered suggests Bitcoin is poised to hit new all-time highs by year-end, regardless of the U.S. election outcome..
Donald Trump Officially Launches World Liberty Financial Crypto Project Amid Criticism
Republican presidential candidate Donald Trump has officially announced the launch date for World Liberty Financial, a highly anticipated cryptocurrency and decentralized finance (DeFi) project. Trump, who has increasingly embraced the world of digital assets in his 2024 reelection bid, confirmed the launch in a video posted on his official X account (formerly Twitter), revealing that the project will go live on Sept. 16, with a live Twitter Spaces event at 8 p.m. to mark the occasion.
"Join me live on Twitter Spaces at 8 p.m. this Sept. 16 for the launch of World Liberty Financial," Trump said in his video post. "We’re embracing the future with crypto and leaving the slow and outdated big banks behind." The project has been teased for the past two months by members of the Trump family, sparking widespread speculation within both the political and cryptocurrency communities.
On Aug. 7, Donald Trump Jr. and Eric Trump hinted at their family’s growing involvement in the crypto space, mentioning upcoming announcements related to DeFi and digital currencies. The mystery surrounding World Liberty Financial deepened when on Sept. 3, CoinDesk reported on a whitepaper tied to the project, which revealed that it will be built on the decentralized finance platform Aave and leverage the Ethereum blockchain. The core feature of the project is said to be a credit account system that integrates blockchain technology to provide more efficient and transparent financial services.
According to sources close to the project, World Liberty Financial will focus on providing users with decentralized alternatives to traditional financial institutions. Trump’s comment about leaving "big banks behind" signals the project’s ambition to disrupt legacy financial systems and promote blockchain-based financial autonomy.
The announcement of World Liberty Financial comes as part of Trump’s broader effort to woo the crypto community in his bid for reelection. Historically, Trump has been critical of cryptocurrencies, once referring to Bitcoin as a "scam" and warning that digital currencies could threaten the U.S. dollar’s dominance. However, over the past year, he has significantly softened his stance and has openly aligned himself with pro-crypto movements.
Earlier this year, Trump appeared as a speaker at the Bitcoin 2024 conference, where he took a firm stance against U.S. financial regulators, specifically targeting the Securities and Exchange Commission (SEC). He vowed to fire current SEC Chair Gary Gensler if he wins the presidency, citing what he described as overregulation that stifles innovation in the crypto space. Trump has also pledged to prevent the U.S. from selling its 213,000 bitcoin holdings, positioning himself as a defender of the burgeoning digital asset economy.
Security and Advisors
In the lead-up to the launch, the Trump-backed project has worked to bolster its credibility and address potential security concerns. Earlier this month, Corey Caplan, co-founder of Dolomite, was named as an advisor for World Liberty Financial. Caplan is a respected figure in the DeFi world, known for his experience in creating secure and scalable decentralized solutions.
In a statement posted on World Liberty Financial’s Telegram channel, the project emphasized its commitment to security: "We’re not taking any chances. We’re working with the top security experts in the world—Zokyo, Fuzzland, PeckShield, BlockSecTeam, and more. Our code has been thoroughly reviewed by these industry leaders. We are utilizing best practices and making user security our primary concern."
This pledge came just days after the X accounts of Lara Trump and Tiffany Trump were hacked, with attackers falsely promoting a token allegedly associated with World Liberty Financial. The security breach has drawn attention to the vulnerabilities in the crypto space, but the project’s partnership with well-known security firms seems aimed at mitigating any further concerns.
Not everyone has greeted the launch of World Liberty Financial with enthusiasm. Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, voiced concerns about the risks associated with DeFi and the Trump-backed venture earlier this week.
"While decentralized finance, or DeFi, aims to create greater efficiencies and transparency, it can also pose heightened risks of hacks, scams, unequal information, and conflicts of interest that can harm consumers and investors," Waters said in a statement. "We've seen this play out in the new DeFi venture that Eric Trump and Donald Trump Jr. plan to launch, called World Liberty Financial."
What’s Next for World Liberty Financial?
As the Sept. 16 launch date approaches, excitement and skepticism alike are building. While Trump has managed to rally support from portions of the crypto community, particularly those aligned with libertarian ideals, others remain cautious, concerned about the project’s security, regulatory hurdles, and political motivations.
The official unveiling on Twitter Spaces will likely draw significant attention, not only from Trump’s supporters and the crypto industry but also from political commentators and regulators who continue to scrutinize the project.
With promises of revolutionizing the financial system and the full backing of Trump’s political machine, World Liberty Financial is shaping up to be a defining moment in the intersection of politics and cryptocurrency in the U.S. However, whether it can live up to its ambitious claims and navigate the complexities of DeFi while maintaining user trust remains to be seen.
Bitcoin Poised for New Highs Despite U.S. Election Outcome, Says Standard Chartered
Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, is expected to reach new all-time highs by the end of the year, according to a report from investment bank Standard Chartered (STAN). Released on Thursday, the report signals optimism for the cryptocurrency market regardless of the result of the upcoming U.S. presidential election in November.
The bank's report notes that while the U.S. election will impact the digital asset sector, its influence will be less significant than in 2020, when Joe Biden was running as the Democratic candidate. The election's outcome, though important, is seen as secondary to other positive drivers that are likely to dominate the cryptocurrency market, the report said.
Standard Chartered forecasts a bright future for Bitcoin, estimating that the cryptocurrency could hit new all-time highs before the year is out, regardless of who wins the White House. The report outlined two potential scenarios based on different political outcomes: Bitcoin could reach approximately $125,000 if former President Donald Trump wins the election or $75,000 if Vice President Kamala Harris emerges victorious.
Geoff Kendrick, the bank’s global head of digital assets research, commented on the projections: “Progress on relaxing regulations — particularly the repeal of SAB 121, which imposes stringent accounting rules on banks' digital asset holdings — will continue in 2025 no matter who is in the White House.” He added, however, that while regulatory advancements would be slower under a Harris presidency, they would not stop altogether.
SAB 121, introduced by the Securities and Exchange Commission (SEC), enforces stricter accounting standards on banks and institutions holding digital assets. The banking sector has been calling for more lenient regulations to better align with the rapidly growing digital asset industry. The possibility of this rule being repealed is seen as a key driver for Bitcoin’s price surge, as it would encourage greater institutional participation in the cryptocurrency market.
Another factor highlighted in Standard Chartered’s report is the re-steepening of the U.S. Treasury yield curve, which is seen as a bullish signal for Bitcoin. Typically, a steepening yield curve, where long-term interest rates rise relative to short-term rates, signals improved economic conditions and could encourage investors to take on riskier assets like cryptocurrencies.
"The re-steepening of the U.S. Treasury curve is building positive momentum for Bitcoin," the report noted. As inflation stabilizes and interest rates remain relatively high, Bitcoin's appeal as a hedge against fiat currency devaluation grows, further supporting its price.
The report further elaborates on potential short-term reactions to the election. If Kamala Harris wins, Standard Chartered expects Bitcoin to initially experience a sell-off, as some investors may perceive her victory as a sign of slower regulatory progress. The Harris administration is expected to take a more measured approach toward digital assets, compared to Trump, who has openly embraced the cryptocurrency community in recent months.
However, any initial dip in Bitcoin's price is likely to be short-lived, Kendrick predicts. "We expect any dip to be bought up as investors recognize that regulatory progress will still happen, albeit at a slower pace," he wrote in the report. In addition to regulatory drivers, the report suggests that other positive catalysts, such as institutional adoption and macroeconomic trends, will continue to support Bitcoin’s long-term growth.
Relaxation of Rules a Key Factor for Crypto Markets
The relaxation of regulations is expected to play a major role in Bitcoin's price trajectory. Standard Chartered sees SAB 121 as one of the most critical regulatory hurdles that needs to be addressed for the digital asset market to thrive. The stringent accounting requirements have discouraged many traditional financial institutions from entering the space, as they are required to record digital assets as a liability rather than an asset, increasing their exposure to market volatility.
However, the report suggests that regardless of the election outcome, regulatory reforms are on the horizon, though they may unfold more slowly under a Harris presidency. The Trump administration, by contrast, could expedite the process, as Trump has been vocal about his desire to promote cryptocurrency innovation and reduce regulatory burdens on the sector.
While the U.S. election will undoubtedly shape the regulatory landscape for digital assets, Standard Chartered remains optimistic about Bitcoin’s prospects in the long term. The report highlights that positive market drivers — including increasing institutional interest, macroeconomic factors like inflation, and the growing acceptance of Bitcoin as a hedge against currency debasement — will continue to propel the cryptocurrency market forward.
Moreover, with the likely repeal of restrictive regulations and the re-steepening of the U.S. Treasury curve, Bitcoin is well-positioned to benefit from both political and economic trends, the bank argued.
