Republican presidential nominee Donald Trump is reportedly launching his very own cryptocurrency platform.
According to a new report by CNBC, Trump has announced the launch of crypto platform The DeFiant Ones to his followers on Truth Social as a means of competing with banks.
As stated by Trump,
“For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand – together.”
According to the report, Trump’s son Eric recently described the platform as “digital real estate” and referred to decentralized finance (DeFi) as equitable collateral that anyone can access instantly.
Trump’s other son Donald Jr. has been teasing the platform’s launch for weeks and recently said that DeFi protocols are the future of finance.
According to CNBC, Donald Jr. recently said in an interview that decentralized finance protocols appeal to those who the banking industry has shunned.
“What we want to do is take on a lot of the banking world.
I think there has been a lot of inequality in that only certain people can get financing… so this notion of decentralized finance is obviously very appealing to guys like me who have been debanked.”
In July, Trump’s pro-crypto stances got him an invite to the 2024 Bitcoin (BTC) Conference in Nashville. About a month later, Trump chose Ohio Senator J.D. Vance – a known BTC holder and proponent of crypto – as his running mate for the upcoming presidential election.