Former President Donald Trump has revealed the launch date of the Trump Organization’s new DeFi platform, “The DeFiant Ones,” scheduled for August 22.
Trump made the announcement on his Truth Social account, stating that the platform aims to offer Americans an alternative to traditional banking systems, quoting, “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand — together.”
This marks the first time the former Republican presidential nominee has used his personal platform to promote this upcoming “digital bank.” Following Trump’s post, his son, Donald Trump Jr., shared it with his 12 million followers on X, formerly known as Twitter.
The DeFiant 0nes
The announcement included a link to a Telegram channel named “The DeFiant 0nes,” which had about 30,000 followers at the time of the announcement. The channel serves as the official group for the Trump DeFi project, aiming to revolutionize the future of finance.
Eric Trump, Trump’s son, described the project as involving “digital real estate” in an interview with the New York Post, emphasizing accessibility and convenience for all individuals.
Trump’s pivot towards crypto comes as his presidential campaign gains momentum against Vice President Kamala Harris. This shift signals a departure from Trump’s previous skepticism towards Bitcoin, as he now actively supports the crypto industry and aims to make the US a crypto superpower.
Trump’s pro-crypto shift
Trump’s evolving stance on crypto has garnered support from industry leaders, who believe his policies will benefit both the crypto and tech sectors. His recent engagements in the Bitcoin community and pro-crypto statements have solidified his position as a crypto advocate.
The GOP has followed suit by including Bitcoin mining and self-custody rights in its new platform, aligning with Senator Cynthia Lummis‘s efforts to introduce the Bitcoin Act to establish Bitcoin as a strategic reserve asset.
Overall, Trump’s positive shift towards crypto has captured the attention of the industry and is expected to have a lasting impact on the future of finance and technology.
