Former President Donald Trump recently announced the upcoming launch of The Trump Organization’s new crypto platform, called “The DeFiant Ones,” set to provide Americans with an alternative to the traditional financial system. This marks the first time Trump has used his personal platform to promote the not-yet-activated digital bank. The announcement was made on Truth Social, and Trump’s son, Donald Trump Jr., shared it with his followers on X. The post included a link to the official Telegram channel for The DeFiant Ones, which aims to create the future of finance.
Eric Trump, another of Trump’s sons, revealed that the project involves “digital real estate” and offers collateral accessible to anyone instantly. The Trump brothers have been promoting the platform, discussing the potential of DeFi and encouraging followers to stay tuned for further announcements. The mention of “digital real estate” has led to speculation about tokenizing real-world assets or selling digitized versions of assets within the metaverse. The project aims to bring about significant changes to the world of banking and finance.
Trump’s engagement with crypto represents a significant shift from his earlier views during his presidency, where he expressed skepticism about Bitcoin. However, in recent months, he has adopted a more supportive stance towards the crypto industry. Trump headlined the Bitcoin 2024 conference in July and vowed to make America a crypto “superpower” if elected. His evolving stance has drawn praise from industry leaders, who believe his policies will benefit both the crypto and tech sectors. The GOP has also included Bitcoin mining and self-custody rights as a key point in its new platform.
The former president’s pro-crypto stance has led to the introduction of legislation like the Bitcoin Act by Senator Cynthia Lummis, aiming to make Bitcoin a strategic reserve asset. Trump’s shift towards supporting the crypto industry has resulted in significant donations from the sector, with reports suggesting he raised $25 million in donations by the end of July. As Trump’s presidential campaign gains momentum, his engagement with crypto and the promotion of The DeFiant Ones platform signal a new direction for the former president in embracing and supporting the digital financial landscape.
