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Trump Family Crypto Project Raises Conflict of Interest Concern: Report

Key Points:

Ethics experts warn that the Trump family crypto project World Liberty Financial may present a conflict of interest.
The promotion of the cryptocurrency could benefit the Trump family’s business interests.
The World Liberty Financial Telegram channel has quickly gained over 100,000 members.

Ethics experts sound the alarm over a new cryptocurrency investment venture launched by Eric Trump and Donald Trump Jr.

Ethics Experts Warn of Conflict of Interest in Trump Family Crypto Project

The Trump family crypto project, World Liberty Financial, has raised a number of conflict-of-interest flags, especially now that former President Donald Trump is hitting the campaign trail for another shot at the White House.

An article by International Business Times reports that the Trump family crypto project represents some major ethical questions-particularly in the context of an upcoming presidential election.

According to John P. Pelissero, the director of government ethics at the Markkula Center for Applied Ethics, this is a conflict of interest, inasmuch as whatever Donald Trump does about cryptocurrencies will indirectly help the business interests of his son.

“Doing anything to promote crypto so it might benefit his sons’ future business is a problem,” Pelissero said.

The situation, however, was termed troubling by Richard Painter, a former chief ethics lawyer for President George W. Bush, because of the way it mixed business ventures with political ambitions.

World Liberty Financial Gains Momentum with 100,000 Telegram Members

The Trump family’s involvement in World Liberty Financial comes as the former president is fervently seeking to win favour with cryptocurrency investors by promising to turn the United States into the “crypto capital of the planet” if he is elected again.

Also, the Telegram channel of the Trump family crypto project has gained more than 100,000 subscribers, which is a signal that many people are interested in the project.

Those concerns are further compounded by Donald Trump’s history of combining business and politics. During his presidency, the Trump International Hotel in Washington, D.C., was a nexus of political events and parties, which drew the attendance of foreign dignitaries and political donors alike, raising many of these same ethical questions at the time.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.