On Truth Social, former president Donald Trump advertised to his 7.5 million followers on Thursday about the upcoming debut of the Trump Organization cryptocurrency platform, The DeFiant Ones.
“For too long, the average American has been squeezed by the big banks and financial elites,” the president wrote. “We must stand up now, as a group.
This is the first time the presidential candidate from the Republican Party has promoted the digital bank using his personal platform; it was not before operational. In a few of minutes, the message was shared by his son Donald Trump Jr. with his 12 million X followers.
In his message, Trump provides a link to “The DeFiant Ones,” a Telegram channel with about 29,000 subscribers as of Thursday morning and still growing.
The group chat is billed as “the only official Telegram channel for the Trump DeFi project,” which is constructing “the future of finance,” in a post dated August 15.
Trump’s sons, Donald Jr. and Eric Trump, have been hyping the upcoming platform for weeks now; Eric recently referred to it as “digital real estate.” According to him, it’s fair. It’s collateral that anyone can instantaneously access.
Additionally, the brothers Trump have pushed the initiative through social media posts in which they say that “decentralized finance is the future” and invite followers to “stay tuned for a big announcement.”
The term “digital real estate” may allude to the idea of selling digital copies of assets in the metaverse, a notion that reached its zenith in 2021 during the final cryptocurrency bull market cycle. Real-world asset tokenization could also be a result of the project’s use of digitalized real estate.
The project is scheduled to launch during Trump’s final stretch of the campaign. In his quest to overtake Vice President Kamala Harris, the former president is making efforts.
According to the eldest son of President Trump, the family is not launching a memecoin but is instead creating a cryptocurrency platform that will compete with the established banking industry.
He declared on August 8 that “what we want to do is take on a lot of the banking world.”
Donald Trump Jr. stated in the Locals interview that he believes there has been a lot of inequity in that only some people can receive financing. “To guys like me who have been debanked, this notion of decentralized finance is obviously very appealing,” he added.
In recent times, President Trump Sr. has made an effort to position himself as the candidate who supports cryptocurrency.
Trump introduced a non-fungible token offering on the Solana blockchain in April. The Republican presidential candidate made history in July by headlining Nashville’s largest bitcoin event. In May, he became the first prominent presidential contender to accept donations made in cryptocurrencies.
It represents a substantial shift from Trump’s earlier position on cryptocurrencies when he was in the White House, when he labeled bitcoin a fraud.
Since his renewed dedication to the sector, donations and endorsements have come flooding in. As of the end of July, the former president claimed to have raised $25 million from the cryptocurrency industry.
