This Week In Crypto: Trump Launches Crypto Platform, Grayscale’s XRP Trust Debuts, and Moonchain’s Vision for DePIN
Welcome to This Week in Crypto! The latest news includes Donald Trump’s crypto platform launch, Grayscale’s XRP Trust debut, and Moonchain’s innovative approach to integrating decentralized physical infrastructure networks (DePIN) with everyday smart devices. Here’s everything you need to know:
- Trump to Launch World Liberty Financial Crypto Platform on Sept. 16
- Grayscale Launches XRP Trust, Paving the Way for Potential ETF
- Moonchain’s Vision: A Future Powered by DePIN and Smart Devices
Trump to Launch World Liberty Financial Crypto Platform on Sept. 16
Donald Trump has announced the upcoming launch of his crypto project, World Liberty Financial, set to go live on Sept. 16. In a video posted on X (formerly Twitter), Trump stated that the project, controlled by his sons Donald Jr. and Eric Trump, aims to revolutionize finance by embracing crypto and leaving traditional banking behind.
The platform will offer a digital wallet, a credit account system, and decentralized finance (DeFi) tools for borrowing and lending. Users will also have the opportunity to invest in various assets using tokens. World Liberty Financial plans to promote the use of U.S. dollar-pegged stablecoins, potentially in collaboration with DeFi protocol Aave, suggesting that the project will be built on the Ethereum blockchain.
While Trump has garnered support from the crypto community, some question the timing of the launch, given his presidential campaign. Nic Carter, a Trump supporter and partner at Castle Island Ventures, criticized the move as a “huge mistake,” suggesting it could damage the goodwill Trump has built in the crypto space. Meanwhile, the project has faced challenges from scammers, with fake ads, giveaways, and even hacked social media accounts attempting to exploit the platform’s hype.
Grayscale Launches XRP Trust, Paving the Way for Potential ETF
On Sept. 12, Grayscale Investments launched its XRP Trust, offering accredited investors exposure to XRP, the cryptocurrency behind the XRP Ledger (XRPL). This trust functions similarly to Grayscale’s other single-asset investment trusts, allowing institutional and eligible individual investors to gain access to XRP.
While the trust is not an exchange-traded fund (ETF), its structure could pave the way for an XRP ETF in the future, subject to approval from the U.S. Securities and Exchange Commission (SEC). According to Grayscale, the XRP Trust is part of a four-stage product life cycle, with the ultimate goal of transitioning into an ETF.
Grayscale’s head of product, Rayhaneh Sharif-Askary, highlighted XRP’s real-world use case in cross-border payments, which can be completed in seconds. XRP’s underlying technology could transform legacy financial infrastructure, especially in decentralized finance.
Moonchain’s Vision: A Future Powered by DePIN and Smart Devices
Moonchain is at the cutting edge of blockchain innovation, integrating decentralized physical infrastructure networks (DePIN) with everyday smart devices, such as smart rings, watches, and phones. By allowing these devices to function as crypto mining tools, Moonchain is democratizing blockchain participation and pushing the limits of Web3 wearables.
This approach aims to make crypto mining more accessible by using devices people already own, creating a more decentralized ecosystem. Moonchain believes this could be the future of global crypto adoption, with smart devices powering decentralized finance (DeFi) and infrastructure. The project is actively collaborating with other Web3 wearable and DePIN initiatives to expand the utility of these devices, driving the next wave of blockchain evolution.
Stay tuned for more developments as the crypto space continues to innovate!
