Former President Donald Trump and sons announce crypto platform

Just a month after President Donald Trump told people at a gathering that ‘if you’re for crypto, you better vote for Trump,’ he has launched his very own cryptocurrency platform.

Named The DeFiant Ones, the former president announced the news on Thursday (August 22) through a post on his social media platform Truth Social.

“For too long, the average American has been squeezed by the big banks and financial elites,” the post says. “It’s time we take a stand—together. #BeDefiant.”

The post then links to a Telegram channel which has posts calling it the ‘only official Telegram channel for the Trump DeFi project.’ It was created on August 7 and already has almost 40,000 subscribers.

There are no known details about what the project will be focused on or even whether it’ll include a coin, trading market, decentralized autonomous organization, or something completely different.

A recent post writes: “Over the next few days, we’ll be sharing some important updates and announcements right here in this channel.”

With the details currently lacking, at least to the public, more information will likely start to be shared in the coming weeks and months ahead of the presidential election in November.

For those in the cryptocurrency industry, this move by Trump could signal an even stronger vote by that community as they could view him as an ally.

Donald Trump’s sons are involved in cryptocurrency platform too

The Republican candidate’s son Donald Trump Jr first shared news about the project on August 15 through a post on X. He described it as being ‘our’ crypto project.

On August 21, Trump’s other son Eric took to X to say: “Almost ready to make some big announcements regarding the Crypto project… Getting very excited. Make sure you are in our Telegram group…”

Almost ready to make some big announcements regarding the Crypto project… Getting very excited. Make sure you are in our Telegram group…

— Eric Trump (@EricTrump) August 21, 2024

The news comes after people spotted a company called AMG Software Solutions filing a trademark application for ‘Be DeFiant,’ ‘World Liberty,’ and ‘World Liberty Financial’ in July.

The trademark for ‘World Liberty Financial’ is described as being for “providing financial information in the field of decentralized finance (DeFi).”

Image Credit: Gage Skidmore on Flickr

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