FX168 Finance Reporters (North America) News: Former President Donald Trump plans to give a speech next Monday to discuss cryptos and officially launch the crypto platform World Liberty Financial, controlled by his sons Donald Jr. and Eric.

(Source: Associated Press)

This speech, held 50 days before the election day, is particularly noteworthy as it is a practice of using the critical moment of the election to promote personal business. For a long time, the former Republican president has always combined politics with business interests, promoting sneakers, albums, and the "Trump" branded Bible during his 2024 election campaign.

On Thursday, September 12, Trump released a video on the social media platform X, in which he said, 'We will embrace the future with cryptos and leave behind those slow and outdated big banks.' Trump also announced that he will give a speech at 8 p.m. next Monday at his Mar-a-Lago estate to further discuss this topic.

As part of his presidential campaign, Trump has promised to make the United States the 'global capital of cryptos,' implying that he may use the power of the federal government to support family-related business projects.

Cryptos are a type of digital currency that does not rely on the traditional banking system and is traded over the internet. Typically, these transactions rely on online platforms that charge transaction fees to convert cryptos into US dollars or other fiat currencies.

Although Trump had a negative stance on cryptos during his presidency, he has shown an increasing interest in this industry in recent years. He proposed that the government should establish a bitcoin strategic reserve and pledged to prevent the Federal Reserve from creating a digital currency managed by central banks, which is a digital form of central bank currency provided to the public.