Former President Donald Trump promoted his family’s upcoming cryptocurrency platform called “The DeFiant Ones” in a Truth Social post on Thursday.
Trump shared the post with his 7.5 million followers Thursday morning, which son Donald Trump Jr. shared with his 12 million followers on X less than half an hour later.
“For too long, the average American has been squeezed by the big banks and financial elites,” the presidential candidate wrote. “It’s time we take a stand — together.”
The Truth Social post links to a Telegram messaging channel with nearly 34,000 subscribers and more streaming in.
A post calls the Telegram group chat “the only official Telegram channel for the Trump DeFi project” which is building “the future of finance.”
The former president’s sons, Trump Jr. and Eric Trump, have been hinting at the Trump Organization crypto platform for weeks.
Rumors swirled earlier this month when Eric posted on X that he had “fallen in love” with “Crypto / DeFi” and told his followers to “stay tuned.”
“It’s digital real estate,” he previously told The Post in an exclusive interview.
“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.”
He told The Post that the new crypto platform will allow more Americans to be approved or denied for loans “based on math, not policy. Money could be in their account in minutes, not months.”
Trump Jr. previously said the family is not launching a memecoin, but a digital bank prepared to take on the traditional US banking system.
The Trumps’ social media promotion of their new crypto platform landed on the final day of the Democratic National Convention as the race between Trump and Vice President Kamala Harris heats up.
As voters consistently rank the economy top of mind ahead of the 2024 presidential election, Trump and Harris have been vying to win over inflation-battered Americans.
Trump has backed tariff hikes while Harris has proposed a price gouging ban on grocery and food suppliers.
Both candidates are trying to woo crypto bigwigs, who hope the next administration will relax industry regulations.
Trump has tried to stake his claim as the crypto candidate, reversing his skeptic stance on crypto from 2019.
So far this year, Trump launched a non-fungible token collection on the Solana blockchain, became the first major presidential nominee to accept donations in cryptocurrency and headlined the Bitcoin Conference in Nashville, Tenn.
The Republican nominee said he had raised $25 million in crypto donations as of the end of July.
Crypto investors seem to have placed their bets on Trump, as Bitcoin and crypto platform shares soared after he was shot in an assassination attempt – which voters assumed would help his odds of winning the presidency.
Bitcoin shares spiked again after Trump spoke at the Bitcoin Conference and pledged to make the US the “crypto capital of the planet.”
