The Trump family enters DeFi, threatening to end the oppression of banks and financial elites

Original title: "Trump personally promotes family DeFi project, threatening to end the oppression of banks and financial elites"

Original author: Zhang joy, BlockTempo

Former US President Donald Trump, who is competing for the White House in 2024, has supported cryptocurrencies in public events many times. Recently, his eldest son Donald Trump Jr. announced that he would enter DeFi and planned to challenge the traditional financial system.

Last night (22nd), Trump shared a Telegram channel link The DeFiant Ones on his own social media platform TruthSocial. The introduction was Trump’s official DeFi channel, and the accompanying text hinted that it would subvert traditional financial rules (Trump’s son @DonaldJTrumpJr also helped promote this article on Twitter):

“For too long, ordinary Americans have been exploited by big banks and financial elites. Now is the time for us to unite and fight together.”

What is the Trump family’s DeFi project?

However, after clicking into the channel The DeFiant Ones, no further information about the project has been revealed. The official only recently released an announcement on August 18, hinting that more relevant content may be revealed this month:

"In the next few days, we will share some important updates and announcements in this channel. This is the only place to get official news, so be sure to stay tuned and stay informed. Exciting things are coming - don't miss it!"

On August 19, the post wrote: "Let's go !!!!!", but it is still unclear what the project wants to do as a whole?

Will the Trump family enter digital real estate?

Although we still don’t know what the Trump family is up to, as early as the beginning of this month, Trump’s second son, Eric Trump, who is currently the vice president of the Trump Organization, also revealed in an interview that the group will soon launch a new cryptocurrency plan, and pointed out that the plan may involve "digital real estate."

Although Eric Trump refused to disclose further details of the Trump Organization’s encryption plan at the time, according to his account, some people speculated that this may involve the tokenization of real world assets (RWA), that is, bringing real estate or other physical assets to the blockchain, and possibly using "digital real estate" as collateral for loans or other cryptocurrency financial services.

Eric mentioned:

"It's fair, it's collateral that anyone can use immediately. I don't know if people realize what a big change this is for the banking and financial world. I hope we can help change that."

In addition, he also said in the interview that he saw great prospects for blockchain technology, and praised cryptocurrency and decentralized finance (DeFi) as potential powerful catalysts for the U.S. economy:

"Now basically more than half of the people in this country don't have access to bank deposits. This means that most loans in most institutions will be But with this technology (blockchain), they can get approved or denied by lenders almost instantly based on math rather than policy. Money can be in their account in minutes rather than months.

The current system can be manipulated. It is, it always has been, and my family has certainly experienced financial discrimination. It’s not right how easily people can be excluded from certain markets, and it slows everything down.

At some point, I think we all want some form of financial independence, and a world where we don’t have to follow the big banks’ playbook. That day will come soon enough.”

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