Former President Donald Trump promoted an upcoming family-friendly crypto project called “The DeFiant Ones” to his 7.57 million subscribers via his Truth’s social account on Thursday.
This comes after his sons teased a “Huge” announcement on cryptocurrencies earlier this month, later suggesting the project would rely on DeFi—short for a set of crypto-based financial tools that allow users to borrow, lend, and trade assets without an intermediary.
“For too long, the average American has been crushed by big banks and financial elites,” Trump said in his message, linked to the official Telegram channel. “It’s time we take a stand, together. #BeDefiant.”
On Saturday, the Telegram channel, also called “The DeFiant Ones,” told its 25,000 subscribers that it would share “important updates and announcements” in the coming days. But since then, it has shared only one message: “Here we go!!!!!”
Earlier this month, the The New York Post Eric Trump interviewed Trump’s son about the family’s crypto project. “It’s digital real estate,” he said, though it was unclear whether Trump’s son was referring to the project itself or crypto in general.
However, some have interpreted Eric Trump’s comments to mean that the project could involve some sort of metaverse enterprise or the tokenization of real world assetslike real estate.
“It’s fair. It’s a guarantee that everyone can have access to, and it’s instantaneous,” Eric Trump told the American television network. Job“I don’t know if people realise what a disruption this is for the banking and financial world. I hope we can help change that.”
The vagueness of Eric and Donald Trump Jr.’s initial statements about the project backfired earlier this month with a coin meme that went bad and claimed to be associated with the Trump family.
Less than an hour after its launch, the Restore the Republic The token (RTR) had a market cap of over $100 million as people speculated that it was the project Trump had promised and backed. Eric and Don Jr. later denied that the family had any ties with the project. The token fell by 90% in just 5 minutes.
Edited by Stacy Elliott.
Editor’s Note: This article was updated after publication for clarity.
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