Charles Hoskinson, one of the crypto industry’s best known entrepreneurs, has warned that the new digital assets platform promoted by Donald Trump and his sons could be “scary” for the industry.
Hoskinson, who co-founded the popular Ethereum blockchain, told the Financial Times he had reservations about the Trump-backed venture, announced on Monday. Trump, his sons Donald Trump Jr and Eric Trump and property developer Steve Witkoff are backing a decentralised finance (DeFi) platform called World Liberty Financial.
DeFi projects aim to offer financial services without an intermediary such as a bank or exchange. World Liberty Financial has promised to leave behind “slow and outdated big banks”, although full details are yet to be published.
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