Donald Trump promotes his sons’ endeavor to disrupt the traditional financial system with their new DeFi project.
Former US President Donald Trump has taken to social media to promote “The DeFiant Ones,” a new decentralized finance (DeFi) project tied to his sons. The Republican candidate made his first-ever social media crypto promotion on a Thursday post on his Truth Social handle.
Trump called out the big banks and leading financial systems in the post, stating the new family business would help take a stand against their inappropriate operations. Alongside the Truth Social update was a #BeDeFiant hashtag and a link to the project’s official Telegram channel.
His sons, Eric Trump and Donald Trump Jr., have long teased the new crypto project, making bold statements on how it would affect elite banks. However, the duo has not disclosed what the project fully entails.
Digital Real Estate
In an exclusive interview with the New York Post, Eric gave a sketchy overview of the family’s new adventure, likening it to digital real estate. He described the project as “equitable” and said it would be accessible to every user, irrespective of location.
Eric shared a similar stand with his father’s Thursday post, stating it would disrupt the traditional financial system. He said that the project would allow Americans access to loans in no time, and the criteria for this would be based on pure math and not policies. According to him, the banking sector will not be ready for what their new project will bring with it.
Notably, Eric’s mention of digital real estate could mean real-world asset (RWA) tokenization, a sector gaining community traction. The RWA sector has grown significantly recently, following the involvement of leading asset manager BlackRock. RWAs have a total locked value of $6.435 billion.
At the time of writing, the DeFiant Ones’ official channel had 39,738 members. Notably, the group was launched on August 7, and Trump’s sons posted an X link to it eight days later.
Trump’s involvement in cryptocurrencies has heightened following his recent ploy to become America’s next president. He spoke at the Bitcoin Conference in Nashville, where he announced his plans to adopt Bitcoin as a strategic reserve for the United States.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/08/23/donald-trump-promotes-new-family-crypto-business-the-defiant-ones/?utm_source=rss&utm_medium=rss&utm_campaign=donald-trump-promotes-new-family-crypto-business-the-defiant-ones