Former President Donald Trump appears to have thrown his weight behind his family’s cryptocurrency project, Defiant Ones.
On August 22 mail Speaking on Truth Social, Trump endorsed the decentralized finance project, saying: “For too long, the average American has been under the thumb of big banks and financial elites. It’s time to take a stand — together.”
It is worth noting that Trump met with the leaders of the largest financial companies in the United States, and promised them to cut taxes and remove regulatory restrictions in exchange for their support before the 2024 presidential elections. Among the names mentioned by Trump: to talk Guests joining the guest list this summer include JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, and Bank of America CEO Brian Moynihan.
This is the first time Trump has publicly endorsed the so-far inactive cryptocurrency project on his personal account.
So far, his sons — Eric Trump and Donald Trump Jr. — have been promoting the mysterious project over the past few weeks.
In a previous interview with the New York Post, Eric described the project as “digital real estate,” highlighting its potential to transform the financial sector by providing fair and instant access to collateral.
It’s fair. It’s a guarantee that anyone can access instantly. I don’t know if people realize how much this technology has changed the world of banking and finance.
Eric Trump talks about the rebels
Most of the Trump brothers’ posts have generally referred to the project’s goal of building “the future of finance,” but have offered no specific details about its functions.
This has left followers curious about whether it will involve a decentralized autonomous organization, a new cryptocurrency, an exchange, or something else entirely.
To quell speculation, Trump Jr. recently sent people to a Telegram channel called Defiant Ones, indicating that it would be the official source of information about the mysterious project.
The channel currently has nearly 40,000 members, and recently gave away Telegram Premium subscriptions to 10 of them.
The project appears to be the culmination of Trump’s newfound support for cryptocurrencies. While he has referred to the industry as a “scam” in the past, he has since reinvented himself as a strong advocate for cryptocurrencies, winning the industry’s support in the process.
In July, the former president headlined the Bitcoin 2024 conference in Nashville, Tennessee, where he outlined a series of crypto-friendly proposals, including creating a national Bitcoin (BTC) reserve if he were elected.
After The Defiant Ones was revealed, many critics on X.com received almost immediate criticism. Named It’s another scam.
At least six of Trump’s companies have disappeared. bustyTrump University, which was launched in 2005, has been closed and is no longer in existence. scamSince then, Trump has resorted to selling sneakers, Bibles, and non-fungible tokens (NFTs).
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