Former US president Donald Trump has endorsed a new cryptocurrency project known as ‘The Defiant Ones,’ which is being promoted by his sons. Trump announced the project on his Truth Social app, where he has 7.57 million followers. The project, which is set to major in decentralized finance (DeFi), is set to revolutionize traditional banking systems.
Donald Trump Family’s Crypto Project Gains Swift Popularity Online
Donald Trump announced the project, stating that America requires freedom from big banks for financing. He referred people to the project’s official Telegram channel, which attracted 25,000 subscribers within no time. Since the announcement, they have only released a few details, which has built the anticipation of the followers.
Eric Trump has suggested that the undertaking may be linked to so-called ‘digital real estate,’ but specifics have not yet been disclosed. This has given rise to theories that the venture may well be a metaverse project or the tokenization of real-world assets. Eric Trump was especially keen on how the project could disrupt traditional finance, which could be a better collateral source.
Trumps Dismiss RTR Coin Amid Project Hype
The Trumps were criticized earlier this month when a meme coin called Restore the Republic (RTR) claimed to be related to the Trump family. In the next few hours, RTR hit a $100 million market capitalization after people suspected it was involved in the Trump-backed project. Eric and Donald Jr. later dismissed any links with RTR, disowning the coin.
The preceding error notwithstanding, interest in The DeFiant Ones has not waned. The family keeps feeding the hype for the project, but the specifics have not been released yet. The fans are excited to know more about the project, while the critics are still skeptical.
The official Telegram channel boasts of upcoming important news, but followers have yet to receive such information. This has not demoralized the people since many still hope that the project will proceed as planned. The Trumps are set to use their clout to transform the finance industry through this DeFi project.
Also Read: Report: Donald Trump Considers Elon Musk for Cabinet Role
Source: https://www.cryptonewsz.com/donald-trump-endorses-sons-defi-project/