Donald Trump announced on Thursday the upcoming launch of a cryptocurrency platform, presenting it as an alternative to the offerings of major banks and financial institutions.
“Americans have been squeezed dry by big banks and financial elites for too long“, wrote the Republican candidate for the American presidential election on X and his social network Truth Social.It is time for us to resist, together.“
Donald Trump has not provided any details about the exact content of the project, called The DeFiant Ones. Two of his sons, Eric and Donald Jr., heads of the family conglomerate Trump Organization, have described it in recent weeks as “digital real estate“.
In the New York Post, Eric Trump spoke of “collateral that everyone can access instantly“. In finance, collateral generally refers to assets deposited in exchange for obtaining a loan. Unfavorable, during his presidency, to cryptocurrencies, which he even described as “scam“, Donald Trump has radically changed his position since then, to the point of now presenting himself as a champion of digital currencies.
While attending a major industry conference in Nashville, Tennessee, at the end of July, the real estate developer promised that if re-elected, he would be “the pro-innovation, pro-bitcoin president America needs“. The former president is thus taking the opposite view of the Biden government, considered to be in favor of regulating the sector.
Documents released in mid-August showed that Donald Trump held between $1 million and $5 million worth of ether, the world’s second-largest cryptocurrency.
