New York, Friday, August 23, 2024-Former President Donald Trump announced on Thursday the launch of a new cryptocurrency platform, named The DeFiant Ones, targeting unbanked and underserved communities.
This comes in the wake of reports that emerged on August 16 on the financial disclosures which revealed that Trump held at least $1 million in cryptocurrency, primarily Ethereum, and has earned $7.2 million from NFTs.
Additionally, Trump made $300,000 from Bible sales. His financial portfolio includes various assets and ongoing earnings from past ventures.
The announcement was made via a post on Trump’s social media platform, Truth Social, where he emphasized the platform’s mission to challenge traditional financial institutions.
However, Trump provided few details about the platform’s functionality or structure.
The platform’s name, a play on the term “decentralized finance” (DeFi), was linked to a Telegram channel, which Trump described as the “only official Telegram channel for the Trump DeFi project.”
The channel has been active since August 15, but it remains unclear whether the project will operate as a decentralized autonomous organization (DAO), a cryptocurrency exchange, or another form of digital financial service.
Trump’s sons, Donald Jr. and Eric Trump, have hinted in interviews that the platform could serve communities often overlooked by traditional banks.
