CryptocurrencyDonald Trump recently appeared for an X Spaces interview with internet personality Farokh Sarmad about his cryptocurrency venture. Donald Trump recently appeared for an X Spaces interview with internet personality Farokh Sarmad about his cryptocurrency venture.
Republican Presidential hopeful Donald Trump recently appeared for an X Spaces (formerly known as Twitter Spaces) interview with internet personality and Goodlife Media CEO Farokh Sarmad about his cryptocurrency venture.
Knewz.com has learned that the interview has left many listeners wondering if the former President has enough knowledge about the crypto industry, as he seemed to struggle to answer direct questions and seemingly kept trying to change the topic.
Trump announced his own cryptocurrency venture during the interview with internet personality Farokh Sarmad. BY: X/Farokh
The event on X Spaces was a part of the launch event for Trump’s own cryptocurrency venture, World Liberty Financial, held at the Mar-A-Lago mansion in Florida.
“Crypto is one of those things we have to do… Whether we like it or not, I have to do it,” Trump said during the interview.
At the X Spaces discussion panel on Tuesday, September 17, the former President was joined by his two eldest sons Donald Trump Jr. and Eric Trump, along with his collaborators and two entrepreneurs, Chase Herro and Zachary Folkman.
It is worth noting that Herro describes himself as “the dirtbag of the internet,” while it has been reported that Folkman was previously known for teaching classes about “how to seduce women.”
During the interview, Trump stated that he intends to make the United States the “crypto capital of the planet.”
Trump stated that he intends to make the United States the “crypto capital of the planet.” BY: MEGA
When he was asked why he believed that it is important for the U.S. to become a world leader in the industry, he replied, “It’s so important. It’s crypto. It’s AI. It’s so many other things. AI needs tremendous electricity capabilities beyond anything I ever heard.”
He further said in the interview, “My attitude is if we don’t do it, China will. We have to be the biggest and best… The value of this whole thing is bigger than the top 20 corporations. The numbers are gigantic. It suffers from some credibility lapses.”
“It’s very young and growing. If we don’t do it other countries will do it. We have the advantage because it’s me, I do believe in it.”
While his critics stated that Trump’s statements at the interview show he “doesn’t even know what crypto is,” the 78-year-old admitted that he learned about the cryptocurrency industry from his college freshman son, Barron.
“My kids, I mean, Barron knows so much about this… Eric, and he’s, Barron’s a young guy, but he knows and he talks about his wallet,” Trump said in the interview with Sarmad.
“[Barron]’s got like four wallets or something, and I’m saying, ‘What is a wallet? Explain this to me.’ But he knows his stuff inside out. And Eric and Don know it so well,” he added.
Notably, Barron Trump has been listed as World Liberty Financial’s “DeFi visionary,” which is reportedly a reference to “decentralized finance.”
Barron Trump has been listed as World Liberty Financial’s “DeFi visionary.” BY: MEGA
He further stated, “It’s almost like younger people know it a lot better than older people. But I have a lot of respect for them. They’ve shown, they’ve shown great judgment all of them.”
At one point, he seemed to compare the cryptocurrency industry to his granddaughter learning Chinese.
“It’s sort of like a language. I have a beautiful granddaughter, Ivanka’s daughter, Arabella. She speaks perfect Chinese. Their other two children speak perfect Chinese. From a nanny who was from China,” he said in the interview.
Trump mostly left the technical talk to the entrepreneurs Herro and Folkman.
It has been pointed out that the former President had previously called Bitcoin a “scam” and has been a noted skeptic regarding the cryptocurrency industry for years.
It seems his stance regarding the matter has since improved, as a financial disclosure from August 16 showed that Trump owns around $1 million in cryptocurrency.
The former President has eventually become a vocal promoter of the cryptocurrency industry, especially during his re-election bid—with reports suggesting his campaign is promoting the idea of building a “crypto army.”
Now a crypto enthusiast, Trump had previously called Bitcoin a “scam.” BY: MEGA
It was reported that he has been voicing his support for the industry and drawing donations from crypto executives.
During a live stream with online personality Adin Ross, the former President stated, “I know a lot of very good people that are really into that world and into that market. They’re smart, they’re good people, and they think it’s going to be very beneficial.”
However, it has been pointed out that his involvement in the cryptocurrency industry might give rise to “serious conflicts of interest,” if he wins his re-election bid in November.
Danielle Brian, executive director of the nonpartisan watchdog group Project on Government Oversight, stated that, as a President, Trump “would be able to push regulatory agencies to favor businesses he is involved in.”
According to reports, experts have raised similar concerns regarding his ownership of the social media platform Truth Social.
On the other hand, the U.S. Securities and Exchange Commission has argued that “nearly all cryptocurrencies are unregistered securities and ought to be regulated like stocks traded on Wall Street,” it was reported by The New York Times.
It is worth noting that the announcement of his cryptocurrency venture came a day after he became the target of an alleged assassination attempt.