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Donald Trump is launching a new crypto platform called “The DeFiant Ones,” aimed at banking underserved communities and challenging the dominance of big banks.
“For too long, the average American has been squeezed by the big banks and financial elites,” Trump wrote on Truth Social. “It’s time we take a stand—together. #BeDefiant.”
Over 40K People Join ”DeFiant Ones” Telegram Group
In the post, the former president included a link to the project’s official Telegram channel, which has quickly grown to 40,200 participants.
A message teasing several announcements and updates in the following few days was sent to the group on Aug. 17.
Almost ready to make some big announcements regarding the Crypto project… Getting very excited. Make sure you are in our Telegram group…
— Eric Trump (@EricTrump) August 21, 2024
Few details are available on the project, other than a promise that it will be “the future of finance.”
Eric Trump Says Over Half The American Population Is Unbanked
In an interview with the New York Post, Trump’s son, Eric, said that the project could help “over half” of the American population, which “cannot be banked” and get rejected for “most loans from most institutions.
Instead of having to approach a bank for a potentially lengthy approval process, ”DeFiant Ones” users could have the ability to either be approved or denied almost instantaneously.
Decisions will also be based on maths instead of policy, he said in the interview. If approved, the money will show up in their account in minutes and not months, as is the case with most banks.
Trump-themed meme coins were among the largest gainers in the past 24 hours following the former President’s announcement.
TrumpCoin (DJT) surged over 53%, while Super Trump (STRUMP) and Baby Trump (BABYTRUMP) pumped 15% and 10%, respectively.
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