Crypto Continues to Make Inroads into the U.S. Presidential Race

With crypto continuing to remain a front-and-center issue in U.S. political circles, including the nomination of a pro-crypto challenger to Senator Elizabeth Warren

Cryptocurrency is continuing to make major inroads into the United States Presidential race, with the latest example being the launch of a crypto project founded, supported, and endorsed by Donald Trump.

According to a recent report by Forbes, the X account of Laura Trump, daughter in-law of the former President and Republican National Committee co-chair, appeared to be hacked and disseminated false information regarding the launch of the project as well as malicious links to a coin claiming to the be the official coin of the project.

The report adds that these actions are part of a larger scheme that has seen several fake Trump Tower collections being promoted on X accounts.

Forbes also highlights that the crypto project is set to launch in the coming weeks, with Trump having announced the project during a rally in December 2023.

The project is said to be called World Liberty Financial, with Trump having stated that he is "very excited" about crypto and NFTs during the rally where he announced the project.

Forbes adds that the project is set to be supported by Trump Organization executives Donald Trump Jr. and Eric Trump, with the former having stated that the project is "very cool" and that it will be "huge."

As previously reported by CryptoSlate, the launch of the crypto project has been accompanied by a slew of scams and impersonations.

These scams have seen fraudsters create fake websites, social media accounts, and coins that are falsely claimed to be connected to Trump’s crypto project.

Forbes also notes that several cryptocurrency influencers have been promoting these scams to their followers on X for a quick profit.

Forbes adds that these scams have been able to fleece investors out of thousands of dollars, with some being scammed out of their entire life savings.

The report concludes by stating that these scams are a major problem in the crypto space, with investors being urged to be vigilant and to only invest in projects that they are sure are legitimate.

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