Donald Trump, the former U.S. president who’s embraced bitcoin and crypto in recent months and floated a radical plan to pay off the U.S.’s $35 trillion debt pile, could shake up the banking world if he retakes the White House this year.
Trump, who made a headline appearance at the Bitcoin 2024 conference last month alongside an “absolute game-changer” bitcoin bill, has fueled wild speculation of a bitcoin price boom.
Now, as the crypto market braces for a Wall Street earthquake, Trump’s son Don Jr. has launched a Telegram channel for the Trump so-called decentralized finance (DeFi) project that his brother Eric said will “shake up” the world of banking and finance.
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Former U.S. president and Republican 2024 candidate Donald Trump has embraced bitcoin and crypto in … [+]
Former U.S. president Donald Trump’s son Don Jr. has launched a Telegram channel to give people information on the Trump family’s upcoming decentralized finance (DeFi) crypto project amid rampant “rumors” and wild “speculation” about it.
“A lot of rumors are swirling about our crypto project,” Don Jr. posted to X. “To get the real story and stay updated with official announcements, join our official Telegram channel. Don’t rely on speculation—get the news directly here!”
The channel, which has under 20,000 subscribers as of this morning, has posted just one message: “Welcome to The DeFiant Ones—the only official Telegram channel for the Trump DeFi project! We’re thrilled to have you join our growing community. Please be aware that this is the only official channel for our project. Stay vigilant and do not fall for impersonations or scams—our team will never DM you first. Let’s build the future of finance together. Be DeFiant!”
The Defiant Ones is also a trademark registered by a company called AMG Software Solutions, which also filed trademark applications for the terms “Be DeFiant,” “World Liberty” and “World Liberty Financial,” it was reported by The Block.
As details of the Trump crypto project trickle out, it’s looking likely to be pitched as a bank account alternative, with the Trump brothers Eric and Don Jr., last week shooting down speculation of a memecoin.
“It’s digital real estate,” Eric told the New York Post this week, referring to cryptocurrencies. “It’s equitable. It’s collateral anyone can get access to and do so instantly. I don’t know if people realize what a shake up that is for the world of banking and finance. I hope we can help change that.”
Rumors of an official Trump coin began flying after a series of X posts by Eric and Don Jr., who teased a “big” crypto announcement.
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Donald Trump’s recent support of bitcoin and crypto has helped powered a bitcoin price rally over … [+]
“I have truly fallen in love with crypto [and decentralized finance (DeFi)],” Eric Trump posted to X. “Stay tuned for a big announcement.” Don Jr. added: “Big things coming. This is the future.”
Last month, Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization during a headline speech at the the Bitcoin 2024 conference in Nashville, Tennessee.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future, we’ll keep 100%,” Trump said during his speech. “This will serve, in effect, as the core of the strategic national bitcoin stockpile.”
