Trump Endorses Cryptocurrency Project Ahead of 2024 Election

Trump’s New Venture into the Crypto World

Former President Donald Trump is making headlines once again as he endorses a family-operated cryptocurrency project, positioning himself as a pro-crypto candidate in the lead-up to the U.S. presidential election scheduled for November. On Thursday, Trump took to the social media platform Truth Social, where he has 7.5 million followers, to promote the upcoming decentralized finance (DeFi) platform known as “The DeFiant Ones.” His post included a link to a Telegram group for the project, which boasted over 40,000 subscribers by Friday.

In his message, Trump stated, “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 proclamation underscores his appeal to everyday Americans who feel disenfranchised by traditional financial institutions.

Adding to the buzz, Trump’s son, Donald Trump Jr., shared the promotional image on his X account, reinforcing his support for the platform that he and his brother Eric Trump have been touting for weeks. The Trump siblings are spearheading this initiative, although specific details about the platform—such as launch dates and functionalities—remain largely undisclosed. Messages circulating in the DeFiant Ones’ Telegram group refer to the project as the “Trump DeFi project” and proclaim it to be the “future of finance.”

Prior to the official announcement of the project, Eric Trump expressed his enthusiasm for cryptocurrency and DeFi, stating that he had “truly fallen in love with Crypto / DeFi” and hinted at a significant disruption in the crypto space, declaring they would soon unveil something “HUGE.”

Trump, who is currently running as the Republican candidate, is no stranger to the world of cryptocurrency. His name has previously been associated with various crypto initiatives, including non-fungible token (NFT) projects and a line of bitcoin-themed sneakers that sold out in a matter of hours after their launch. An August financial disclosure revealed that Trump holds between $1 million and $5 million in ether (ETH) and generated over $7 million from an NFT-licensing agreement.

Additionally, in July, Trump outlined his vision for a strategic national bitcoin reserve, promising to implement this plan if he were to be re-elected. His commitment to cryptocurrency further solidifies his stance as a candidate who is attuned to the evolving financial landscape.