Former President Donald Trump has announced the launch of a cryptocurrency platform, The DeFiant Ones.
The platform aims to address the needs of unbanked and underserved communities. Trump's sons, Eric and Donald Jr., have been hinting at this development for weeks, describing it as "digital real estate."
related reading：Eric Trump warns that detailed digital real estate plans have not yet been clearly disclosed and no tokens have been issued yet
The DeFiant Ones Platform's Purpose
The platform is positioned as a challenge to traditional banks and financial institutions. Trump’s post on Truth Social emphasised a stand against financial elites, linking the platform to the growing decentralized finance (DeFi) movement.
The announcement also directed users to a Telegram channel named "The DeFiant Ones," which has seen a rise in followers.
The channel is described as the only official source of information regarding the platform, though further details on its structure remain sparse.
related reading：Donald Trump Jr. Launches Telegram Channel Amidst Crypto Speculation
Trademark Filings
Earlier trademark applications by AMG Software Solutions, connected to the terms “Be DeFiant,” “World Liberty,” and “World Liberty Financial,” have added to the speculation surrounding the project’s direction.
The mention of digital real estate hints at the potential tokenization of assets, possibly linked to the metaverse.
The DeFiant Ones Potential Impact on the Unbanked
Eric Trump has indicated that the platform could enable financial access for those currently excluded by traditional banking systems.
This claim aligns with the broader narrative within the crypto industry, although critics argue that such promises often fall short.
Trump's Crypto History
Trump’s engagement with cryptocurrency isn’t new. He has previously profited from NFT collections and appeared at the Bitcoin Conference in Nashville, where he criticised SEC Chair Gary Gensler.
related reading：Trump delivered a Bitcoin keynote speech at the Nashville Bitcoin Conference, promising to make the United States the crypto capital of the world，But the market response was mediocre
However, his ventures haven’t always succeeded, as evidenced by the dramatic decline in the value of his NFTs.
related reading：Trump is about to release a series of four NFTs after his assassination caused the price of his NFTs to soar
Doubts about Trump are hard to eliminate
Despite the enthusiasm surrounding financial inclusion through crypto, reports from entities like the Center for American Progress highlight the risks involved. They point out that cryptocurrency often serves more speculative purposes rather than solving financial exclusion issues.
Given Trump's history with ventures like Trump University, there remains doubt about the true impact of this new project. Some fear that it may not deliver on its promises to the unbanked and underserved communities it claims to support.
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