The DeFiant Ones: The Trump Family Launches New DeFi Platform
The Trump family has been heating up public anticipation for the release of their own DeFi platform, The DeFiant Ones. But what exactly are they offering? It remains shrouded in mystery. Let’s delve into the details.
The Trump Organization is gearing up to introduce a new initiative in the realm of cryptocurrencies and blockchain. Known for its expansive portfolio, the Trump Organization is a holding company that encompasses around 250 companies making up Donald Trump’s business empire. He developed it over more than half a century, and in 2017, after being elected President of the USA, Trump transferred operational control of the holding company to his adult children.
Speculation about the new crypto project began circulating in early August when Eric Trump, the politician’s youngest son, made a post on X typical of those used to generate buzz for PolitiFi projects:
In an interview with the New York Post, Eric Trump clarified that the discussion revolves around digital real estate. It remains unclear whether this refers to virtual real estate properties in the metaverse or the tokenization of actual assets within the project. Journalists from Forbes have speculated that this could be a crypto platform akin to cryptocurrency exchanges like Coinbase or Binance, which might also act as a bank account alternative.
Eric Trump expressed his confidence that their new venture would significantly bolster the struggling U.S. economy. He noted that over 50% of Americans effectively lack access to banking loans and other traditional financial institution services. He attributed this situation to decades of bureaucratic paralysis that has stifled the country’s banking system.
At some point I think we all want some form of financial independence and a world where we don’t have to play by the big bank’s playbook. That day’s coming soon,Eric remarked.
Further, he lamented that his family had also experienced its share of financial discrimination, and he empathized with how easily individuals can be barred from "certain markets" by the system.
This family narrative was soon corroborated by Donald Trump himself. The presidential candidate endorsed the upcoming crypto project of the Trump Organization in a post on Truth Social. Additionally, it was revealed that the new platform would be named The DeFiant Ones, a name that subtly references the DeFi concept.
The naming of the Trumps' DeFi platform is controversial. It recalls the classic American film of the same name, which tells the story of two escaped convicts, one black and one white, chained together. They must build trust to survive, but their escape ultimately fails, which they face with stoicism. This narrative might not seem like an apt metaphor for a financial project, but it appears that the Trumps were not overly concerned with such parallels.
For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand — together,he wrote.
As of August 29, the Telegram group—reportedly managed personally by Eric and Donald Jr.—has garnered over 52,600 subscribers, a modest figure compared to Trump’s broader support base.
The group features an iconic photo of a recent assassination attempt on Trump. Source: Telegram
Originally named "The DeFiant Ones," the group was renamed to "World Liberty Financial" by the end of August. The project's X account, @worldlibertyfi, was initially set up with the name WLFI, which resembles a cryptocurrency ticker, typically used on exchanges to identify tokens and crypto projects. This led to speculation that WLFI might be the name of Donald Trump’s new cryptocurrency.
Crypto enthusiasts quickly took advantage of this ambiguity. A coin named WLFI was launched on the decentralized exchange Uniswap, though its website, X account, and Telegram group have no official ties to Trump's channels.
Please be aware of scams and fake tokens claiming to be associated with “Defiant Ones“, “World Liberty“. or similar names. Do not engage with these tokens!the official Telegram account warns
The Trumps have also criticized the established financial institutions:
“They shut people out, deny them loans, drown them in paperwork and kill them with legal and processing fees…These banks and the elites who run them want absolute control but that ends now.”
Participation in the Trumps' project is suggested as a solution to these issues. However, little is known about it except that it involves a DeFi platform. Beyond promotional slogans, the creators have yet to provide further details.
We’re making finance great again by putting the power back in YOUR hands. This new DeFi platform will cut out the corrupt, expensive and inefficient middlemen. No more bureaucrats deciding your fate,they promise.
On August 29, Donald Trump once again joined the promotional efforts for the project. This time on his X account, he posted a video statement:
Trump's message does not reveal anything new, except that the project seems to have undergone rebranding to "World Liberty." The platform appears to be launching somewhat hastily, which naturally could induce some skepticism. But as this is a Trump initiative, the story is bound to continue unfolding.
