Trump’s crypto venture accused of tie-up with platforms linked to terrorists

Donald Trump’s crypto venture, which won the US presidential election last month, has been accused of partnering with a platform linked to terrorists. This crypto platform is used by Iran-supported terrorist organizations Hamas and Hezbollah.

Trump and his Middle East ambassador and billionaire, Steve Witkoff, launched World Liberty Financial before the US elections. The network associated with the decentralized blockchain Tron had last month reported an investment of approximately $30 million in World Liberty Financial. The founder of Tron is Chinese entrepreneur Justin Sun. There have been indications of terrorists using Tron in the last few years. Israeli securities agencies say that this crypto platform is used by Hamas and Hezbollah.

There is excitement in the crypto market after Trump’s victory. The price of Bitcoin, the largest cryptocurrency in terms of market value, is trading at more than one lakh dollars. A policy for this segment can be brought in America after the new Trump-led government takes charge next year. Trump’s social media company Truth Social is also likely to launch a crypto payment platform soon. A recent media report stated that Trump Media & Technology Group has filed a trademark application for crypto payment service TruthFi.

It has been told in this application that this business may include card payment processing, asset management, custody service and trading in digital assets. The entry of Trump, one of America’s biggest businessmen, into the crypto segment has intensified speculations about the new government making a policy in favor of this segment. Trump’s social media company is in talks to buy crypto trading firm Bakkt. Bakkt can be purchased by taking full equity from Truth Social, a unit of Trump Media and Technology Group. During the election campaign, Trump had indicated not to make strict regulations for this segment. There are a large number of people investing in the crypto market in America. These investors are also expected to contribute to Trump’s victory.