Donald Trump has put his name on a cryptocurrency platform.
The former United States president and current U.S. presidential hopeful announced in a post on Truth Social that he has launched a crypto business called The DeFiant Ones, as reported by The Verge. The Truth Social posts acknowledges that “the average American has been squeezed by the big banks and financial elites,” but offers zero other details on what The DeFiant Ones is, how it works, and how it will help average Americans.
It could be anything from a full-on cryptocurrency to a trading market or even just a website about crypto. It’s impossible to say at this point, but as The Verge noted, Trump’s son Eric recently told the New York Post that DeFiant could exist to help those who are “unbanked,” or lacking any kind of savings or checking account at a bank or credit union. According to the FDIC, 5.9 million Americans were unbanked as of 2021.
While that could be a noble purpose for DeFiant, there’s a long and sordid history of Donald Trump not being especially honest or responsible with money. Those who choose to invest in DeFiant, if that is indeed something you can do, might be taking a risk.
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