President Trump took to Truth Social on Thursday to promote “The DeFiant Ones,” a new crypto platform by the Trump Organization, declaring it was time for Americans to push back against big banks and financial elites.
“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 is the first time Trump has used his personal platform to promote the digital bank, which is yet to be launched. Shortly after his post, Donald Trump Jr. shared it with his 12 million X followers, amplifying the announcement. Trump’s post included a link to the Telegram channel “The DeFiant Ones,” which had around 29,000 followers and was quickly growing. The channel, which launched on August 15, describes itself as the “only official Telegram channel for the Trump DeFi project,” aimed at “building the future of finance.”
Eric and Donald Trump Jr. have been teasing the platform for weeks, with Eric describing it as “digital real estate” in an interview with The New York Post. “It’s equitable. It’s collateral anyone can get access to and do so instantly,” he said, emphasizing his desire to help change the world of banking and finance.
The Trump brothers have promoted the project as a game-changer in decentralized finance (DeFi), hinting at a significant announcement to come. Their reference to “digital real estate” could involve selling digitized assets in the metaverse or tokenizing real-world properties, potentially reshaping traditional finance.
The launch of “The DeFiant Ones” coincides with the final stretch of Trump’s presidential campaign. Trump’s sons have made it clear that the project isn’t a memecoin but a legitimate crypto platform intended to challenge the traditional banking system. In an August 8 interview, Donald Trump Jr. said the family aims to take on inequality in banking, specifically by offering decentralized finance as a solution to restrictive financing options. “This notion of decentralized finance is very appealing to guys like me who have been debanked,” he said.
Trump has increasingly positioned himself as the pro-crypto candidate in recent months. He launched a non-fungible token (NFT) collection on the Solana blockchain in April, became the first major presidential nominee to accept cryptocurrency donations in May, and headlined the biggest bitcoin event of the year in Nashville in July.
Since embracing the industry, Trump has garnered endorsements and donations, raising $25 million from the crypto sector by the end of July.
Join ‘The DeFiant Ones’ telegram channel here.
