Trump announced the new cryptocurrency platform The DeFiant Ones on Truth Social, but did not yet provide details.
Donald Trump and his sons announced Thursday in a post on Truth Social, the upcoming creation of The DeFiant Ones platform, which will help people who do not have access to banking systems.
The post states:
“For too long, the average American has been squeezed by the big banks and financial elites. It's time to take a stand—together. #BeDefiant.”
The name The DeFiant Ones refers to one 1958 American film and in a corresponding one 2017 American TV series which was about "decentralized financing".
Trump's Truth Social post links to one channel on Telegram for the as-yet-unlaunched platform, which has posts dating back to August 15 calling it "the only official Telegram channel for the Trump DeFi project."
There are no details on what The DeFiant Ones entails, or whether it is a decentralized autonomous organization, a currency, a trading marketplace, a cryptocurrency blog or publication, or something else altogether.
According to The Block, in July, a company called AMG Software Solutions filed trademark applications for the terms "Be DeFiant," "World Liberty," and "World Liberty Financial." World Liberty Financial's trademark is for "providing financial information in the field of decentralized finance (DeFi)," the filing states.
In recent interviews, Trump's sons, Donald Jr. and Eric, said the project could target underserved communities.
Eric Trump reported on this in the New York Post: “Essentially over half the country is currently unbankable. Meaning they will be rejected for most loans from most institutions. But with this technology they could have the ability to be almost instantly approved or denied by a lender, based on math rather than politics. The money could be in their account in minutes, not months."
