Cardano Founder Warns Trump’s World Liberty Financial Could Politicize the Industry
Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...
Cardano founder Charles Hoskinson warned on Friday that Donald Trump’s newly launched crypto platform, World Liberty Financial, could face serious political and regulatory challenges.
He highlighted the potential for investigations by institutions like the Department of Justice (DoJ) and the SEC, emphasizing the risk of politicizing the entire crypto industry.
During a September 20 interview with the Financial Times, Hoskinson raised alarm over the launch of Trump’s World Liberty Financial, a new decentralized finance (DeFi) platform supported by Donald Trump Jr. and Eric Trump.
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Hoskinson characterized the launch of this platform as potentially “scary” for the cryptocurrency industry, emphasizing the risks associated with political polarization.
Political polarization is the growing divide and stark differences in political beliefs, values, and ideologies between groups, often leading to extreme positions and a lack of compromise.
In this context, Hoskinson explained that Trump’s crypto platform, which is regarded as a decentralized finance (DeFi) application, could create challenges for the industry, as everything Trump does is perceived to attract major opposition from political actors and parties.
The Cardano founder elaborated on the implications of such a politicized environment, warning that Democrats may attempt to weaponize the institutions of the state to slow down and damage Trump.
He believes this could ultimately lead to regulatory investigations by the Department of Justice (DoJ) or the
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