As the presidential election in the United States approaches, former President Donald Trump and Vice President Kamala Harris are competing for the presidency.
While presidential candidates continue to come to the fore with their new moves, Donald Trump, who has come to the fore with his support for Bitcoin and cryptocurrencies, announced his crypto project that made a big impact.
Trump, who has entered the DeFi sector with his new project World Liberty Financial, could enrich his developers and the Trump family by raising $537 million from token sales if he is successful.
Although Trump is excited about his new project, investment bank TD Cowen World Liberty Financial has warned about the project.
According to The Block, Jaret Seiberg from TD Cowen Washington Research Group said that the Trump family's new project could be a major political problem for the cryptocurrency industry.
Seiberg said Trump's project could affect current crypto regulation discussions and make it harder to create new regulations.
“If Trump wins the election, the likelihood of cryptocurrency legislation being enacted would be lower than if the Trump family started World Liberty Financial.
Because Democrats will avoid supporting any project or bill that is perceived to enrich the Trump family for political reasons.”
*This is not investment advice.