Donald Trump Teases 'The DeFiant Ones' Crypto Project on Truth Social
“It’s time we take a stand – together,” Trump wrote on his Truth Social account with a Telegram group link to the unreleased decentralized finance platform.
Updated Aug 23, 2024, 4:24 p.m. Published Aug 23, 2024, 10:05 a.m.
- Donald Trump is promoting "The DeFiant Ones," a new family-run decentralized finance (DeFi) platform, on Truth Social.
- This move is part of his broader appeal to the crypto community, positioning himself as a pro-crypto U.S. presidential candidate.
- However, specific details about the platform's functionality or launch date remain scant as of Friday.
Donald Trump is pushing a family-run crypto project as he positions himself as a pro-crypto candidate ahead of the U.S. presidential election in November.
Trump on Thursday promoted the forthcoming decentralized finance (DeFi) platform "The DeFiant Ones" to his 7.5 million followers on the social application Truth Social, including a link to a Telegram group page for the project, which had over 40,000 subscribers as of Friday.
“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote. “It's time we take a stand—together.”
Trump’s son, Donald Trump Jr., reposted the image on his X account, having promoted the platform alongside brother Eric Trump for weeks. The scions are leading the project.
DJT: For too long, the average American has been squeezed by the big banks and financial elites. It's time we take a stand—together. #BeDefiant https://t.co/DuEtfRfrjt pic.twitter.com/txPz5FVSsK
— Donald Trump Jr. (@DonaldJTrumpJr) August 22, 2024
Little is known about the platform, including launch dates or specific details. However, messages posted on the DeFiant Ones’ Telegram group call it the ”Trump DeFi project” and the “future of finance.”
In separate posts earlier this month before the project was revealed, Eric Trump said he had “truly fallen in love with Crypto / DeFi” and was “about to shake up the crypto world with something HUGE.”
I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr
— Eric Trump (@EricTrump) August 6, 2024
Trump, the Republican candidate, is no stranger to crypto projects. Trump-related companies or official licensing was previously used for non-fungible token (NFT) projects and a line of bitcoin-themed sneakers that sold out hours after launching.
An August disclosure showed Trump holds between $1 million and $5 million of ether (ETH) and made over $7 million in an NFT-licensing deal. In July, he revealed plans to release a fourth NFT collection.
In July, at the Bitcoin Conference in Nashville, Trump promised to maintain a "strategic national bitcoin reserve" if elected.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
