Donald Trump Throws Support Behind ‘The Defiant Ones’ Crypto Project Led By Sons Don Jr. And Eric

Here's what you should know about the upcoming Trump-backed platform.

Author Julia Smith Author Julia Smith About Author Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News. Author Profile Share Copied Last updated: August 22, 2024 05:34 EDT

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Republican nominee Donald Trump seemingly threw his support behind “The Defiant Ones” crypto project on Thursday. The project is developed by his sons Eric Trump and Donald Trump Jr.

Donald Trump Plugs ‘The Defiant Ones’ In Truth Social Post

“For too long, the average American has been squeezed by the big banks and financial elites,” the post reads in part. “It’s time we take a stand—together.”

Featuring the hashtag #BeDefiant, Trump’s latest social media post includes a link to a Telegram channel with the same name, a pithy crypto project with over 33,000 followers.

While little information about “The Defiant Ones” is publicly available, Trump Jr. previously announced the digital asset platform in an August 7 X post.

“We’re about to shake up the crypto world with something HUGE,” he wrote. “Decentralized finance is the future—don’t get left behind. #Crypto #DeFi #BeDeFiant.”

We’re about to shake up the crypto worldwith something HUGE.

Decentralized finance is the future—don’t get left behind. #Crypto #DeFi #BeDeFiant — Donald Trump Jr. (@DonaldJTrumpJr) August 7, 2024

“I have truly fallen in love with Crypto / DeFi,” Eric Trump added. “Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr.”

Following a swarm of speculation, the eldest Trump brother has since clarified that the blockchain project is not a meme coin but will instead be designed to “take on the world of banking.”

News of the Truth’s Social point comes at a critical time ahead of the 2024 U.S. presidential election, with Trump largely embracing cryptocurrencies on the campaign trail despite previously calling digital assets a “scam.”

Last month, the former reality television star promised to make the U.S. the “crypto capital of the planet” while touting a crypto-friendly approach to digital asset regulation.

“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,” Trump told attendees of the Bitcoin 2024 Conference.

Meanwhile, soon-to-be Democratic nominee Kamala Harris has remained quiet about her stance on digital finance.

Critics argue that her affiliation with the current Biden administration may harm her relationship with the crypto community as a whole, given the U.S. president’s position on digital asset regulation.

However, new reports reveal Harris could be keen to embrace crypto herself.

With nearly 20% of voters in swing states considering crypto to be a major topic when deciding their ballot, Trump and Harris’ ideas on digital assets could cost them the election.