The climate cost of Trump-branded cryptocurrency

By Scott Waldman | 09/17/2024 06:16 AM EDT

The former president’s new company will support an energy-intensive type of cryptomining.

Republican presidential nominee Donald Trump arrives to speak during a campaign event at the World Market Center on Friday.

Republican presidential nominee Donald Trump arrives to speak during a campaign event at the World Market Center on Friday. John Locher/AP

Former President Donald Trump is promising to make finance great again by rolling out his own cryptocurrency business.

It will come with a climate cost.

On Monday, Trump announced the creation of World Liberty Financial, saying he would spur an energy revolution in the U.S. in order to beat China.

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“We need twice the electricity we already have,” Trump said, adding, “I’ll make it possible to create tremendous amounts of electricity very quickly.”

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