Key points
- The DeFi platform DeFiant Ones was announced by Donald Trump Jr. to overhaul traditional financial systems.
- Over 42,000 subscribers joined the official Telegram group to receive updates on Trump's DeFi project.
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Donald Trump Jr. has revealed plans for a new cryptocurrency project that aims to operate outside of traditional banking systems. The initiative, called “The DeFiant Ones,” was announced via the project’s official Telegram group.
In his statement, Trump Jr. described the initiative as a response to what he perceives as exclusionary practices in the mainstream financial sector.
“These banks and the elites who run them want absolute control, but that ends now,” he wrote in the group.
The ad references the Trump family’s past conflicts with financial institutions. Trump Jr. claimed his family has been “de-banked, under-banked, and has suffered through every political game imaginable.”
According to the statement, the platform aims to eliminate intermediaries in financial transactions. Trump Jr. said this would reduce costs and bureaucracy for users.
The Telegram group, created earlier this month, had amassed more than 42,000 subscribers.
Details about the platform remain limited, however, Eric Trump, one of Donald Trump’s sons, said in an interview with the New York Post that the project involves “digital real estate.” This has led to speculation that the project could involve the tokenization of real-world assets or the sale of digitized versions of assets within the metaverse.
Earlier this week, former President Donald Trump backed a DeFi cryptocurrency project led by his sons, Donald Jr. and Eric Trump, aimed at challenging big banks and financial elites.
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