Donald Trump promoted the crypto venture on his Truth Social platform, promising to alleviate the squeeze on the average American by financial elites.
It would appear that the Trump Organization is gearing up to launch a new crypto platform in 2024, or perhaps early 2025. Ex-President and current GOP candidate Donald Trump announced this week that his company would be launching a crypto platform that will be called “The DeFiant Ones,” with the supposed goal of taking pressure off average Americans from banks and financial elites (of which Trump could be considered one).
Trump announced The DeFiant Ones crypto platform to his 7.5 million followers on his Truth Social platform.
“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote in his post. “It’s time we take a stand—together. #BeDefiant”
The post went on to include a link to a Telegram for The DeFiant Ones group, from which Trump’s organizers promised more news would be coming soon.
Source: Truth Social
There was no word on what exactly Trump’s new crypto platform would be doing with digital currencies, whether it would simply be a trade and storage platform, an NFT platform, introduce a new digital currency itself, or what. The DeFiant Ones is a play on the term “decentralized finance,” and Trump’s family has claimed the project will be used to cater to “underserved communities” that cannot bank or take out loans in the United States.
It’s certainly a strange time to be doing a new cryptocurrency venture, considering the jets have cooled heavily on decentralized digital currency in most areas except for Bitcoin which has, itself, been a rollercoaster running between under $20,000 in value in 2022 to over $60,000 per unit in 2024. That doesn’t include the multitude of legal issues caught up in and caused by cryptocurrecy ventures, in which financial giants like the CEO of Binance and FTX founder Sam Bankman-Fried have been sentenced to prison for money laundering and fraud, respectively.
With his own laundry list of legal issues, Trump launching The DeFiant Ones crypto platform sounds like another questionable decision, but it remains to be seen how many he has left as his presidential campaign seemingly flounders and the November 2024 election looms. Stay tuned for further updates on this story at Shacknews.
