Gairika Mitra
Donald Trump, the former President of the United States and the current Republican Presidential candidate, announced the upcoming launch of his family’s cryptocurrency platform “The Defiant Ones” on Thursday.
Trump leveraged his social media platform, Truth Social, to make the announcement and to express his stance against traditional financial systems, followed by a mention of his official Telegram channel, “Official Trump DeFi Channel.”
Trump pointed out that Americans have been under the thumb of banks and financial aristocracy for too long and it is time for collective action.
This move follows Trump’s reputation as the first major nominee to support cryptocurrency traders and his previous promotion of NFTs. Just last month, Bitcoin surged to over 2.6% following Trump’s speech at the Bitcoin Conference in Nashville.
Social media has been abuzz with this development.
Greg Norman Jr (@GregJrNorman), CEO of Europa, an NFT membership and loyalty rewards platform said, “Trump is going all in on crypto. Even launching their own platform. Yes, this is real, and it is not a memecoin.”
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Additionally, Donald Trump Jr., the elder son of the former president had indicated previously that he and his team are about to shake up the crypto ecosystem, also predicting DeFi to be the future.
As the U.S. presidential elections unfold, the Trump family’s recent decisions could have implications for traditional financial systems. These developments could also facilitate connections between politics, finance, and emerging technologies.
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GAIRIKA
Gairika is a cryptocurrency journalist with a focus on Bitcoin and blockchain technology.
