Trump plans to launch his sons' crypto business on Monday, 50 days before Election Day

WASHINGTON (AP) — Former President Donald Trump plans to deliver a speech on cryptocurrency and the company's founding next Monday. World Liberty Financiala crypto platform controlled by the Republican candidate's sons, Donald Jr. and Eric.

His speech will be delivered 50 days before Election Day, an extraordinary use of dwindling campaign time to promote a personal enterprise. The Republican ex-president has long mixed his political and business interests, marketing sneakers, photo books and Bibles bearing the Trump logo during his 2024 campaign.

“We are embracing the future of cryptocurrency and leaving the slow and outdated big banks behind,” Trump said in a video posted Thursday on X, the social media site that will also feature his address on the subject at 8 p.m. EDT Monday from his Mar-a-Lago home.

As part of his presidential campaign, Trump has promised to make the United States the “crypto capital of the planet,” raising suspicions that he could use the federal government to support a company linked to his family.

Cryptocurrencies are forms of digital money that can be traded over the internet without relying on the global banking system. Trading often depends on online marketplaces that charge fees for transactions so that the cryptocurrencies can be exchanged for US dollars and other currencies.

Trump opposed cryptocurrencies during his presidency but has since warmed to the sector. He has proposed that the government create a strategic bitcoin reserve and has vowed to block the creation of a Federal Reserve-managed central bank digital currency, a digital form of central bank money that would be available to the public.