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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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Glo, Huawei, Communications Ministry Bring Digital Services to Abuja Village

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Telecommunications and digital services provider, Globacom, has partnered with the Federal Ministry of Communications, Innovation and Digital Economy and Huawei Nigerian Enterprises, to provide digital access to 7,000 remote communities in Nigeria with the commissioning of the pilot project in Isuanin Kura in Ibwa 2, Gwagwalada, on the outskirts of the Federal Capital Territory, Abuja on Wednesday.

The project, which is championed by the Ministry, will deliver 2G/3G/4G services, free public Wi-Fi access, digital healthcare and remote learning capabilities to the over 12,000 residents of the community.

Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, was full of commendation to Globacom and Huawei for supporting President Bola Tinubu’s commitment to addressing the connectivity crisis affecting more than 20 million Nigerians who currently lack basic telecommunication access in the country.

 

Said he: “If you bring out your phone in many communities, there is no network at all. This is costing the country significantly because people cannot access financial services, medical care, or education”, adding that this also poses governance challenges as disconnected areas are difficult to administer.

“Where you live should not determine your access to opportunity. We are using innovation to ensure every Nigerian, regardless of location, can thrive in the digital age”, the Minister added.

Globacom’s Group Chief Technical Director, Mr. Sanjib Roy, who spoke on the project said the company worked with the Ministry and Huawei to bring up the site by providing the Microwave backhaul link and access to Globacom’s full core network resources and also manage the operation of the site to ensure uninterrupted voice and data services for the community.

“The Smart Education facility allows for young students within the community to receive education remotely, with the teachers being in Abuja or any other part of the world, while  Healthcare delivery has been revolutionised through connected medical equipment that enables remote consultations between patients in Ibwa and doctors and specialists in urban-locations”, Mr Roy explained. The site and all the equipment are powered by solar thereby ensuring clean environment and uninterrupted power supply.

During the inauguration, the system’s effectiveness was demonstrated with the leader of Isuanin Kura, Ibwa 2 Community, Chief Abubakar Bamaiyi, having a live consultation with a medical doctor in Abuja, while the Minister and other guests watched as the students in the local school were being taught via online video by a teacher in Lagos, using equipment provided by Huawei.

Mr Kazeem Kaka, Globacom’s Head of Division, North West, who also spoke at event, said, “For Globacom, this is a continuation of our long-standing mission to democratize access to communication. Since 2003, we have remained at the forefront of efforts to lower the barriers to connectivity—making telephony, internet, and data services more accessible and affordable for all Nigerians.

“Today’s launch reinforces that commitment. We are particularly excited about the impact this initiative will have on education, healthcare, and economic empowerment of Ibwa people”.

In his remarks, Mr Terrens Wu, Managing Director, Huawei Nigerian Enterprises, said his company was proud to be part of the initiative to provide connectivity, and promote learning and healthcare in rural communities through digital technology. His company later gave out 120 affordable smartphones to the community to help them have access to telephony.


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NIMC Targets 95% National ID Enrollment by December 2025

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National Identity Management Commission (NIMC) has unveiled an ambitious plan to register at least 95% of Nigerians into the National Identity Database before the end of 2025, aligning with President Bola Tinubu’s Renewed Hope Agenda on digital governance and inclusive development.

Speaking at a media briefing in Abuja, NIMC Director-General Abisoye Coker-Odusote outlined the agency’s strategy, which includes expanded registration centers, improved infrastructure, and intensified public sensitization campaigns.

“As part of our efforts, we are launching the Ward Enrollment Exercise to ensure that at least 95% of Nigerians are captured by December,” she stated.

NIMC reported that over 120 million Nigerians have already been enrolled, with the target set to register an additional 100 million before year-end. Coker-Odusote emphasized that the exercise would provide the government with accurate population data, enabling better planning and resource allocation.

Addressing concerns about data security and public trust, the NIMC boss assured Nigerians that robust measures have been put in place to safeguard personal information.

She highlighted initiatives such as the NIN Authentication system, which allows individuals to control access to their data through user consent management.

Additionally, NIMC is collaborating with security agencies to track and shut down fraudulent NIN websites while working alongside the Nigeria Data Protection Commission (NDPC) to ensure that enrollment officers receive proper certification in data handling.

“To foster trust, we are ensuring that all personnel handling data are certified experts through NDPC training programs,” she explained.

Looking ahead, Coker-Odusote revealed that NIMC is actively working to integrate all ministries, departments, and agencies (MDAs) to eliminate fragmented operations.

She also disclosed plans to launch a Public Key Infrastructure (PKI) initiative, which will enhance trust in government transactions and digital interactions.

“In the near future, MDAs will be able to implement digital signing across platforms, seamlessly exchanging documents within and between various establishments, thereby advancing e-government and the digital economy,” she added.

The mass enrollment drive, coupled with the strengthening of cybersecurity frameworks, positions Nigeria for an inclusive and efficient national identity system that will serve as a foundation for digital transformation.


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Experts @ ABoICT 2025 Warn of Digital Disaster Risks in Nigeria Without AI Governance

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L-r: Dr. Krishnan Ranganath, Regional Executive, West Africa, Africa Data Centres, Adewale Obadare, chief visionary officer, Digital Encode, Amrish Singhal, chief operations officer, Spectranet, Engr. Ike Nnamani, Managing Director, Digital Realty Nigeria and Rudman Muhammed, Managing Director, Internet Exchange Point of Nigeria, at the 16th Africa's Beacon of ICT Merit and Leadership awards held in Lagos recently.
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As artificial intelligence (AI) continues to transform the global digital landscape, two prominent technology leaders have issued urgent warnings and strategic calls for Nigeria and Africa to adopt a unified, governance-driven approach to AI development, emphasizing that trust, regulation, and cybersecurity are more important than ever.

L-r: Dr. Krishnan Ranganath, Regional Executive, West Africa, Africa Data Centres, Adewale Obadare, chief visionary officer, Digital Encode, Amrish Singhal, chief operations officer, Spectranet, Engr. Ike Nnamani, Managing Director, Digital Realty Nigeria and Rudman Muhammed, Managing Director, Internet Exchange Point of Nigeria, at the 16th Africa’s Beacon of ICT Merit and Leadership awards held in Lagos recently.

At the 2025 Africa’s Beacon of ICT Merit & Leadership Award (ABoICT 2025), held over the weekend in Lagos, Professor Adewale Peter Obadare, Chief Visionary Officer of Digital Encode, and Amrich Singhal, Chief Operating Officer of Spectranet, independently but powerfully echoed the same sentiment: AI without governance is a ticking time bomb.

Delivering his keynote on “AI Governance, Standardization and Cybersecurity in the AI Era,” Prof. Obadare warned against the rising trend of “AI washing”—where companies label basic software or services as “AI” to capitalize on hype, often without the underlying technological integrity or oversight.

“People are calling everything AI today, from photography apps to basic automation, but no one is talking about AI governance,” he said.

Drawing comparisons to the early days of the internet, Obadare cautioned that failing to integrate security and governance into AI architecture could lead to far-reaching consequences. “We are repeating the same mistake we made with TCP/IP, which was not built with cybersecurity in mind. We cannot afford to make that error again.”

He emphasized that governance should not be seen as a hindrance but as an enabler of safe innovation. “Governance is not a brake to stop movement; it is a brake to make movement safe,” he said.

Citing international standards like ISO/IEC 42001 and ISO/IEC 38507, Obadare called for responsible innovation grounded in clear ethical guidelines, stressing the importance of securing the core components of AI: data, models, and infrastructure.

Echoing similar concerns, Amrich Singhal, chief operating officer, Spectranet in his presentation themed “Responsible AI and Nigeria: Balancing Innovation, Regulation, and Cybersecurity,” stressed that “the countries that will benefit most from AI are not necessarily those with the most powerful models, but those with the most trusted systems.”

Singhal painted AI as a double-edged sword, capable of boosting national productivity while also enabling new forms of cyber manipulation—from deepfakes to identity theft and disinformation. “AI can clone voices, create fake personas, and even undermine democracy. It’s no longer a question of readiness, it’s a question of urgency,” he declared.

He acknowledged Nigeria’s potential due to its youthful, tech-savvy population and its expanding use of AI across sectors like healthcare, agriculture, education, and oil exploration.

However, he criticized existing regulatory structures such as the Nigeria Data Protection Regulation (NDPR) and NITDA’s 2023 draft AI framework as being “underdeveloped, underfunded, and poorly enforced.”

Both experts called for a multi-stakeholder approach to AI governance. Prof. Obadare warned of real-world failures, such as Microsoft’s racist chatbot Tay, Amazon’s gender-biased recruitment AI, and Uber’s fatal autonomous vehicle incident, not as tech failures, but as governance failures.

He also cited cybersecurity breaches, including the 2023 hacking of OpenAI’s ChatGPT and the leak of DeepSeek’s API keys and user data on launch day, to stress that “the danger is not just in the algorithms, but in how we design and deploy them.”

Singhal proposed a three-tiered strategy to build Nigeria’s AI resilience: government must champion AI education, create safe innovation sandboxes, and enforce data laws; private companies must adopt ethical and secure design practices; and civil society must raise awareness of digital rights and AI risks—especially for vulnerable populations.

In a firm conclusion, Prof. Obadare urged that “governance must be embedded by design,” warning that irresponsible innovation has already proven costly and called on both developers and policymakers to act before Nigeria’s AI future becomes a liability rather than a strength.

Meanwhile, Singhal closed with a stark challenge: “AI is already here. The question is not whether to use it, but how. Nigeria must choose whether AI will be a great equalizer or its greatest vulnerability.”

As the nation moves deeper into the AI era, the message is clear: building trust, enforcing cybersecurity, and embedding responsible governance must be at the core of Nigeria’s AI journey, before it’s too late.


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