Former President Trump is promoting a crypto project. Trump's sons have been teasing the project for weeks. Trump's crypto project has not been detailed.
Former President Donald Trump promoted an upcoming crypto project called “The Defiant Ones” with his posting Truth is a social platform, but little actual detail or explanation.
“For too long, the average American has been crushed by big banks and financial elites. It's time we take a stand — together,” Trump wrote.
His post is linked to Telegram Channel Recently arranged for a reading project.
“Over the next few days, we'll be sharing some important updates and announcements right here on this channel,” it said. “This is the only place to get official news, so stay tuned and make sure to keep your notifications on. Exciting things are coming — don't miss out!”
The secret project was teased earlier this month by the former president's two sons, News reported. Eric Trump wrote that On his X account “I really fell in love with Crypto / Defy. Stay tuned for the big announcement…”
And Donald Trump Jr.'s platform claims to disrupt the traditional economy. “It is very unlikely that only a few will be able to get financing,” he wrote. “So this concept of decentralized finance is very attractive to someone like me.”
He pointed to personal frustrations with the current economic system, citing difficulties in accessing insurance and other financial services.
Even Trump Jr has been posted Earlier this week on X “a lot of rumors are spreading about our crypto project” and asked people to join the Telegram channel to get updates about the project.
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DeFiant Ones' Telegram channel already has nearly 40,000 subscribers.
Elections
The former president's post came on the final day of the Democratic National Convention, when Kamala Harris was officially nominated to run against Trump in the November 5 US presidential election.
The crypto industry has become a force in the 2024 campaign, raising more than $100 million to help elect crypto-friendly candidates.
Trump appeared at a bitcoin conference last month, where he told a cheering crowd that if he won the election “the rules will be written by people who love your industry, not hate your industry.”
And Harris adviser Brian Nelson suggested a kind of reset would come from the Democratic side if they win, saying the candidate will “support emerging technologies and policies that ensure that kind of industry can continue to grow.” Bloomberg Report.
Crypto market movers
Bitcoin is up 0.39% today at $61,248. Ethereum is up 1.41% today at $2,674.
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