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Trump’s Crypto-business: What Does it Portend for American People if he Wins the Election?

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Donald Trump is promising to make America the “crypto capital of the planet” if he returns to the White House.

While he runs for president, Trump has launched a new venture to trade cryptocurrencies – promoting them on the same social media accounts that he uses for his campaign.

His two eldest sons, Donald Jr. and Eric, are also posting about their new platform, called World Liberty Financial.

So, too, is his daughter-in-law, Lara Trump, who is married to Eric and also serves as co-chair of the Republican National Committee.

Trump has long melded his political and business interests, promoting his hotels and golf courses in the White House while selling sneakers, Bibles and shares in his social media company during his current campaign.

Now, Trump has launched a new moneymaking venture that could explode in value if he’s elected.

What’s more, presidential power could allow him to push through legislative and regulatory changes long sought by crypto advocates.

“Taking a pro-crypto stance is not necessarily troubling; the troubling aspect is doing it while starting a way to personally benefit from it,” said Jordan Libowitz, a spokesperson for the government watchdog group Citizens for Responsibility and Ethics in Washington.

“The success of this could be very tied to American economic policy,” Libowitz said.

Trump has changed his tune

Cryptocurrencies are forms of digital money that can be traded over the internet without relying on the global banking system.

They are commonly traded on exchanges, which are marketplaces that can be used to buy, sell and trade cryptocurrencies.

Exchanges often charge fees for withdrawals of Bitcoin and other currencies.

World Liberty Financial – linked to Trump – is expected to be a borrowing and lending service similar to recently hacked Dough Finance, an app built by four people listed as World Liberty Financial team members, according to crypto news site CoinDesk.

Many details about World Liberty Financial, including what stake Trump and his family members have in it, are still unknown.

After Lara Trump posted Tuesday on her X account about “our goal at World Liberty”, her husband, Eric Trump, posted online that Lara and his sister, Tiffany, had been hacked.

During his time in the White House, Trump said he was “not a fan” of cryptocurrency and tweeted in 2019: “Unregulated Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity.”

Trump has since, however, changed his tune and taken on a more favourable view of cryptocurrencies.

In May, he announced that his presidential campaign would begin accepting donations in cryptocurrency as part of an effort to build a “crypto army” leading up to Election Day.

The former president also attended a bitcoin conference in Nashville this year, where he promised to make the US the “crypto capital of the planet”.

Influence on monetary policy

If elected again, Trump has talked about exerting more control over monetary policy, suggesting he would press the Federal Reserve to set lower interest rates.

He is also promoting decentralised finance, or “DeFi,” which is a general term for using public blockchain space to disrupt the traditional finance world.

Trump has also talked about subsidising the use of Bitcoin mining in order to increase energy production and has vowed to block the creation of a Federal Reserve-administered Central Bank Digital Currency.

This is a digital form of central bank money that would be available to the public.

Appealing to the crypto voter base

Embracing cryptocurrency could be another way for the Trump campaign to reach younger men, including by engaging with conservative influencers.

Crypto also appeals to Trump allies who are concerned about government influence over global markets and worry generally about the reach of the so-called “deep state”.

Dustin Stockton, a pro-Trump activist turned crypto influencer, said he is supportive of the former president’s endeavours in the crypto space and the upcoming launch of World Liberty Financial.

“The Trump family’s engagement and involvement, and learning what it is that underlies crypto, I think is actually a really positive thing,” he said.

Stockton points to the Biden administration as anti-crypto, citing SEC head Gary Gensler’s pursuit of firms like Coinbase and Binance.

A conflict of interest?

While the White House issued an executive order on digital assets in 2022, no substantive laws have been passed by Congress or written into regulation by the White House.

Stockton said the lack of clarity of written rules by the Biden administration, as well as the SEC’s heavy-handed enforcement on crypto firms through a series of lawsuits, indicates that “there’s no clarity and there’s selective and arbitrary enforcement of regulations”.

“Frankly, I’d like to see all members of government get a better understanding of what this is,” he said.

J.W. Verret, a professor at George Mason University’s law school, said Trump would not be in violation of the law by launching a new project and promoting policies that would benefit it.

“I don’t see any problem with someone, anyone in government who owns assets or who starts a business – in fact, I think it’s hard for someone to regulate a particular type of business unless they work in that business,” he said.

 

Credit: Euronews except headline


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Telcos Mull Introduction of Different Tariff Plans for Different States

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Telecommunications operators in Nigeria are considering shifting from the current national tariff structure to a regional tariff regime that accounts for state-specific operational challenges.

Telcos Mull Introduction of Different Tariff Plans for Different States

They say this is because the challenges and costs of running their businesses vary significantly from state to state.

Currently, phone companies in Nigeria have a single national tariff for their services, meaning everyone pays the same amount no matter where they live.

However, the telcos argue that this system doesn’t account for the fact that some states have higher operating costs due to issues like attacks on their equipment and multiple taxes.

This proposal was discussed at the 7th edition of the Policy Implementation Assisted Forum (PIAFo) in Lagos, where industry leaders highlighted the need for a pricing model that reflects the ease—or difficulty—of doing business in each state.

Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), specifically pointed out that the high cost of doing business in some states is a major concern and increases their expenses. He suggested that if negotiating with certain states to reduce these costs is impossible, then the added expense of operating there should be reflected in the service prices in those areas.

“We may have to reconsider the issue of our national tariffs and look at regional tariffs. If you are aware that the cost of doing business is high in a particular state and it’s impossible to negotiate with them, factor the cost of deployment in those areas into the cost of providing services,” he said.

Tony Emoekpere, president, Association of Telecommunications Companies of Nigeria (ATCON), agreed that the current national tariff is unfair because operational costs are not the same across the country.

He believes that states that make it easier for telecom companies to operate should be rewarded, while those that create difficulties should see higher service costs.

 

 


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9mobile Denies Shutdown Rumours, Promises Improved Services

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9mobile, telecommunications operator, has described as untrue the rumors suggesting that it has shut down its operations.

 

according to the telcos, these claims are entirely baseless and aimed at causing unnecessary panic among our valued subscribers, the mobile operator said in a statement.

“We understand that some customers have recently faced challenges, particularly with Mobile Number Portability (MNP), a service that enables seamless network switching.

“We want to clarify that 9mobile has never restricted customers from porting to other networks. We remain fully compliant with industry regulations and committed to delivering fair, transparent, and customer-focused services.

“While there have been temporary technical challenges affecting MNP, these issues have now been largely resolved. Some minor delays may still occur due to ongoing system optimizations, but we are actively working to ensure a smoother experience for all users.

“As a proudly Nigerian brand, we embody the resilient spirit of our people and remain steadfast in our commitment to overcoming challenges. We acknowledge the temporary service disruptions some customers may have experienced in different locations.

“However, we assure you that these disruptions are part of a broader transformation effort aimed at modernizing our infrastructure and improving overall service quality.

“Our ongoing investments in network upgrades and service expansion will soon yield significant improvements, ensuring reliable connectivity for individuals, businesses, and communities.

“We sincerely appreciate the patience and loyalty of our subscribers during this transition. While challenges exist, we are making significant progress and are confident that brighter days are ahead. We remain dedicated to providing exceptional service and keeping you connected to limitless opportunities”.


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TikTok and Truecaller Face NDPC Investigation Amid Data Protection Concerns

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Nigeria Data Protection Commission (NDPC) has initiated an investigation into the data processing practices of Tiktok and Truecaller, following growing concerns about potential privacy violations.

Dr. Vincent Olatunji, the Chief Executive Officer of the NDPC, made the announcement today during a press conference in Abuja, where he also revealed the issuance of the Nigeria Data Protection Act – General Application and implementation directive (NDPC Act – GAID), 2025.

Dr Olatunji stated that the commission’s primary concern is how these platforms manage Nigerian users’ personal data, including potential breaches of consent, data sharing with third parties, and overall compliance with the Nigeria Data Protection Act (NDPA), 2023. He confirmed that the NDPC is actively investigating Tiktok and Truecaller’s data processing activities to ensure they comply with Nigeria’s data protection laws.

“The goal is to safeguard the privacy rights of Nigerians and hold organizations accountable for how they collect, store, and use personal data,” he added.

This investigation comes amid increasing scrutiny of global tech companies regarding data privacy, especially concerning how personal information is processed, stored, and transmitted beyond national borders.

The NDPC act – GAID, 2025, issued today, provides a detailed framework for implementing Nigeria’s data protection law, outlining compliance guidelines, enforcement mechanisms, and obligations for both public and private organizations.

Dr Olatunji emphasized that the directive aims to strengthen Nigeria’s digital economy by fostering trust in data governance while ensuring individuals’ rights to privacy are respected in accordance with international best practices.

He reiterated that companies operating in Nigeria must comply with the country’s data protection regulations or face regulatory actions, including fines and potential restrictions.

The NDPC has urged the public to report any data privacy violations and reaffirmed its commitment to transparency and due process in its investigations.

The commission noted that reporting data breaches has become more accessible through dedicated channels on its official website.


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