Former President Donald Trump's potential to launch a cryptocurrency project before the 2024 election surged after news surfaced about World Liberty Financial—a project promoted by the Trump family—being developed on two blockchains.

What Happened:

As of September 5, the likelihood of Trump launching a cryptocurrency before the November 2024 election has reached 48%, with total bets amounting to $1.12 million on the prediction market Polymarket. This probability saw a sharp increase, jumping from 25% on September 3 to 50% on September 4.

This spike follows reports suggesting Trump’s crypto initiative could be built on the DeFi platform Aave and the Ethereum blockchain, potentially offering borrowing and lending services. The project might introduce a governance token named WLFI.

Crypto trader Tyler D highlighted the increasing likelihood of Trump launching a coin tied to World Liberty Financial after recent leaks. He raised two key questions: whether Trump’s involvement as a "chief crypto advocate" would confirm his role, which seems probable, and if the coin will be launched before the election.

Based on the current momentum and hype, a pre-election launch appears more likely, making it an attractive bet with potential returns of up to 100%.

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**Why It Matters:** The World Liberty Financial project recently faced a cyber-attack, with the social media accounts of Lara Trump and Tiffany Trump compromised to promote a fraudulent scheme. Despite these challenges, the project remains focused on introducing a new cryptocurrency, although it is not yet ready for launch.

Polymarket data also indicates Trump’s probability of winning the presidential election stands at 53%, compared to 46% for Vice President Kamala Harris. However, for the popular vote, Harris leads with a 70% probability, while Trump stands at 30%.