Donald Trump announced the upcoming launch of a new cryptocurrency platform, “The DeFiant Ones,” via his social media channel, Truth Social, to his 7.5 million followers on Thursday.
“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote. “It’s time we take a stand — together.”
This marks the first time Trump, the current Republican nominee for president, has used his platform to promote the yet-to-be-launched digital bank. His post was quickly amplified by his son, Donald Trump Jr., who shared it with his 12 million followers on X (formerly Twitter).
The announcement included a link to a Telegram channel also named “The DeFiant Ones,” which has already attracted approximately 29,000 followers as of Thursday morning. The platform’s description claims it is “the only official Telegram channel for the Trump DeFi project,” aiming to build “the future of finance.”
Eric Trump and Donald Trump Jr. have been hinting at the new platform for weeks, with Eric recently referring to it as “digital real estate.” In an interview with the New York Post earlier this month, Eric explained, “It’s equitable. It’s collateral anyone can get access to and do so instantly. I don’t know if people realize what a shake-up that is for the world of banking and finance. I hope we can help change that.”
The Trump brothers have continued to fuel anticipation around the project, emphasizing the potential of decentralized finance and teasing an upcoming major announcement. Their promotion suggests a significant shift towards embracing digital currencies and blockchain technology as tools for democratizing access to financial services.
With the Trump Organization stepping into the world of decentralized finance (DeFi), it remains to be seen how "The DeFiant Ones" will impact the crypto market and whether it will deliver on its promise to reshape the financial system. As the launch date approaches, all eyes are on this high-profile endeavor to see how it will influence both traditional finance and the rapidly evolving crypto landscape.
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