Trump launches new cryptocurrency venture but declines to share details

World Liberty Financial is expected to be a borrowing and lending service used to trade cryptocurrencies, which are forms of digital money that can be traded over the internet without relying on the global banking system. Exchanges often charge fees for withdrawals of bitcoin and other currencies.

Other speakers after Trump, including his eldest son, Don Jr, talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives.

Experts have said a presidential candidate launching a business venture in the midst of a campaign could create ethical conflicts.

Crypto enthusiasts welcomed the shift, viewing the launch as a positive sign for investors if Trump retakes the White House.

In an effort to appeal to crypto investors, a group of Democrats, including New York senators Chuck Schumer and Kirsten Gillibrand, participated in an online Crypto 4 Harris event in August. Neither Harris nor members of her campaign staff attended the event.