Former President Donald Trump promoted his family’s upcoming cryptocurrency platform, “The DeFiant Ones,” in a Truth Social post on Thursday.
Trump shared the post with his 7.5 million followers on Thursday morning. Donald Trump Jr. shared with his 12 million followers on X Less than 30 minutes later.
“For too long, average Americans have been oppressed by big banks and the financial elite,” the presidential candidate wrote. “Now is the time for us to stand up together.”
Authentic Social Posts Link to Telegram message channel The channel has around 34,000 subscribers and a growing number of streamers.
One post called the Telegram group chat “the only official Telegram channel for the Trump DeFi project” building “the future of finance.”
The former president’s sons, Trump Jr. and Eric Trump, have been hinting at a Trump Organization cryptocurrency platform for weeks.
Rumors began circulating earlier this month when Eric X posted to Twitter that he had “fallen in love” with “cryptocurrency/DeFi” and urged his followers to “keep an eye on it.”
“This is digital real estate,” he previously told The Washington Post in an exclusive interview.
“It’s fair. It’s collateral that anyone can access immediately. I’m not sure people understand what a game changer this is for banking and the financial industry. I hope we can help change that.”
He told the Post that the new cryptocurrency platform would allow more Americans to be approved or denied for loans “based on calculations, not policy.” “Money could be in your account in minutes, not months.”
Trump Jr. previously said that his family was not launching a meme coin, but rather a digital bank poised to challenge the traditional banking system in the United States.
The Trumps’ social media promotion of their new crypto platform came as the battle between President Trump and Vice President Kamala Harris intensified on the final day of the Democratic National Convention.
Voters have consistently ranked the economy as a top issue ahead of the 2024 presidential election, with Trump and Harris vying for the support of inflation-stricken Americans.
While President Trump supports raising tariffs, Harris has proposed banning price gouging for food and food suppliers.
Both candidates are seeking to garner the support of cryptocurrency bigwigs who are hopeful the next administration will deregulate the industry.
Trump has expressed skepticism about cryptocurrencies since 2019, but he is trying to reverse that and position himself as a cryptocurrency candidate.
Earlier this year, President Trump launched a non-fungible token collection on the Solana Blockchain, became the first major presidential candidate to accept donations in cryptocurrency and headlined a Bitcoin conference in Nashville, Tennessee.
The Republican candidate said he had raised $25 million in crypto donations as of the end of July.
Crypto investors appear to be betting on Trump. Bitcoin and crypto platform stocks surge After he was shot in an assassination attempt, voters predicted it would improve his chances of winning the presidential election.
Bitcoin shares soared again after President Trump spoke at the Bitcoin Conference and promised to make the United States the “cryptocurrency capital of the planet.”
