Donald Trump Jr. has launched a Telegram channel for an upcoming crypto project, sparking interest and speculation.
Donald Trump Jr, son of former U.S. President Donald Trump, has opened a Telegram channel named “The Defiant Ones,” indicating that the Trump family plans to get involved in the decentralized finance (DeFi) industry soon. The launch of the Telegram channel comes amid growing speculation about the family’s crypto project, which has been the subject of numerous rumors in recent weeks.
On Thursday, Trump Jr. took to X to address the swirling rumors. He urged those interested in obtaining accurate details, updated information, and official announcements about the project to join the official Telegram channel. He cautioned crypto users against relying on speculation, emphasizing that direct information would be available from the channel, which quickly amassed over 18,000 subscribers and is positioned as the sole authorized platform for the project’s communications.
Both Donald Jr. and his brother Eric Trump have been actively hinting at this crypto project for weeks, which has led many crypto users to suggest it is a meme coin. However, last week, they dismissed rumors that the project would be a memecoin.
Eric Trump gave more details in an interview with the New York Post newspaper. He said the project is like “digital real estate” that is fair and allows anyone to easily get access to money that can be used as collateral. Eric said they hope their project will have a big impact on the banking and finance industries and could help change those sectors.
The Trump family’s decision to create a crypto community is quite understandable, as there are many strong crypto communities on the messaging app. However, there is still not much known about what the project entails.
The Shifting Crypto Landscape in the 2024 Election
This new cryptocurrency project from the Trump family aligns with former President Donald Trump’s recent change in attitude towards the cryptocurrency industry. At the Bitcoin Conference 2024 in Nashville, the Republican presidential candidate promised that if he is reelected, he will work to make the US the crypto capital of the world.
He said he would have policies that are friendly to the crypto industry, and he promised to fire SEC Chair Gary Gensler, who is seen as someone who opposes the crypto industry.
The crypto industry has emerged as one of the major deciding factors in the upcoming election in November. While Donald Trump has been more vocal with various promises for the industry, Kamala Harris, on the other hand, started on the wrong foot. However, she is now trying to take steps back as she has secured three campaign advisers who have connections to the crypto space. They include Gene Sperling, who was a former board member of Ripple Labs; Brian Nelson, who has regulatory expertise; and David Plouffe, who has worked on Binance’s Global Advisory Board and as a global strategic advisor for Alchemy Pay.
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