Against "financial elites"
Trump announces his own cryptocurrency platform
Republican US presidential candidate and former President Donald Trump has announced the launch of his own cryptocurrency platform. US citizens have been "fleeced by the big banks and the financial elites for too long", Trump posted on the online services X and Truth Social on Thursday.
He said it was time to "stand up to them together." Trump did not specify what exactly his project under the name "The DeFiant Ones" would entail. His sons Eric and Donald Jr. have described it in recent weeks as an "online real estate business".
Trump used to be an opponent of crypto
During his time in office, Trump had expressed his opposition to cryptocurrencies and even described them as a "rip-off". Since then, his position has changed fundamentally.
At a campaign appearance at the end of July, the 78-year-old announced that he would be "the pro-innovation, pro-Bitcoin president that America needs". This sets him apart from US President Joe Biden's administration, which is in favor of regulating the sector.
According to recently published documents, Trump owns between one and five million dollars in Ether, the world's second-largest cryptocurrency.
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