On Aug. 7, 2024, Donald Trump Jr., the eldest son of the 45th president, took to the social media platform X to unveil a new decentralized finance (defi) project. Addressing his 11.9 million followers, he declared, “decentralized finance is the future,” urging, “don’t get left behind.” Meanwhile, his younger brother, Eric Trump, has also been actively promoting this mysterious crypto venture.
The team has launched a Telegram channel named the “DeFiant Ones,” which has already attracted more than 22,000 subscribers. However, since its debut, the channel has remained mostly quiet, with the exception of a Telegram premium account giveaway, where several randomly selected subscribers scored three free months of the messenger app’s premium features.
On Aug. 14, Eric Trump provided the New York Post with a little more detail, offering a glimpse into what this secretive project might entail. In his interview with the New York Post, Trump said, “It’s digital real estate. It’s equitable. It’s collateral anyone can get access to and do so instantly. I don’t know if people realize what a shake up that is for the world of banking and finance. I hope we can help change that.”
Trump didn’t really delve into the specific details, instead focusing on the familiar themes often highlighted by decentralized finance advocates—such as providing financial access to the unbanked and promoting greater financial inclusion. “Essentially over half this country right now cannot be banked,” Trump told the publication. “Meaning they will be rejected for most loans from most institutions.”
Trump added:
But with this technology they could have the ability to almost instantaneously be approved or denied from a lender based on math, not policy. Money could be in their account in minutes, not months.
Despite the glimpses shared by Eric Trump, the true nature of the Trump brothers’ crypto project remains shrouded in mystery. With vague references to “digital real estate” and financial equity, the project’s details are still unknown and elusive. For now, crypto market observers are left in suspense, awaiting concrete information on whether this venture will indeed disrupt the financial world.
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