Trump Promotes New Cryptocurrency Platform as Anti-Elite Financial Solution

Former U.S. President Donald Trump has promoted his family's new cryptocurrency platform, "The Defiant Ones," to his 7.5 million followers on Truth Social

Former U.S. President Donald Trump has unveiled his family's new cryptocurrency platform, "The Defiant Ones," via a Telegram channel with 7.5 million followers on his social media platform Truth Social. The initiative aims to challenge traditional banks and address financial inequality.

Trump announced the launch of the new digital bank on Thursday, describing it as a response to the financial struggles faced by ordinary Americans. "It's time we take a stand—together," he stated.

This marks the first public endorsement by Trump of the Trump Organization's crypto venture, which his sons, Eric and Donald Trump Jr., have been teasing as a major undertaking in decentralized finance (DeFi). However, specific details about the platform remain limited.

"Over the next few days, we'll be sharing some important updates and announcements," reads a message on the official Telegram channel for the platform, which had garnered approximately 35K subscribers by Thursday afternoon.

Meanwhile, Donald Trump Jr. further amplified the promotion to his 12 million followers on the social media platform X.

The Trump family has been positioning this new crypto platform as a disruptive force against the traditional banking system. Eric Trump has described it as "digital real estate" that provides instant access to equitable collateral.

The project also aligns with Trump's presidential campaign, where he aims to establish himself as the pro-crypto candidate. Notably, his campaign has received significant financial backing from the crypto sector, with Trump claiming to have raised $25 million by July's end.

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