- The Trump DeFi platform has garnered 30,000 followers on Telegram, demonstrating a high level of public interest.
On August 22, the former president Donald Trump declared that The DeFiant Ones, the Trump Organization’s new cryptocurrency platform, would go live.
In a post on Truth Social, Trump revealed the news and alluded to the DeFi platform’s goal of giving Americans an alternative to the country’s established financial system.
This is the first time the Republican presidential candidate has advertised the inactive digital bank using his personal platform. Trump’s son Donald Trump Jr. published the tweet with his 12 million followers on X, the previous Twitter platform, after it was made.
The DeFiant 0nes
A link to The DeFiant 0nes, a Telegram channel with almost 30,000 followers as of the time of publication, was included in the message. The channel is billed as the official organization for the Trump DeFi initiative, which seeks to establish the “future of finance.”
The Trump brothers have advertised the platform by talking about DeFi’s potential and urging fans to check back for more updates.
The mention of digital real estate has sparked conjecture about the platform’s potential use in tokenizing physical assets or offering for sale digital renditions of those assets inside the metaverse.
Trump’s tilt toward crypto
The declaration is made as Trump’s presidential campaign nears its conclusion. In the contest against Vice President Kamala Harris, the former president is attempting to gain ground.
Trump’s interest in cryptocurrencies is a significant departure from his prior opinions. He had called Bitcoin a hoax and voiced doubts about it while he was president. Trump has, nevertheless, taken a more positive attitude toward the cryptocurrency sector in recent months.
He recently gave the keynote address at the Bitcoin 2024 conference in July, promising to turn America into a crypto superpower and guaranteeing that the US would never sell its Bitcoin if elected. In further conversations, Trump reaffirmed his opinions, solidifying his support for cryptography.
The GOP has adopted a similar strategy, making self-custody rights and Bitcoin mining central to its new agenda. Furthermore, the goal of the Bitcoin Act, a bill introduced by Senator Cynthia Lummis, is to establish Bitcoin as a strategic reserve asset.
Leaders in the industry have expressed a great deal of support for Trump’s changing position on cryptocurrencies, arguing that his progressive policies will benefit the IT and cryptocurrency sectors alike. By the end of July, the former president claimed to have raised $25 million in donations from the cryptocurrency industry.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
