Trump backs his family's latest crypto project, The Defiant Ones, against 'financial elites.' But the community seems divided on the move.
Former U.S. president Donald J. Trump has endorsed a crypto project, The Defiant Ones, recently announced by his sons Donald J. Trump Jr. and Eric Trump.
The former president showed his support for the project on Truth Social. His statement, which was also shared on X , “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand—together.”“Trump is the only U.S. politican who is actually launching projects in Crypto. NFTs, DeFi, etc. Safe bet that a Trump presidency would be a good time for our industry.”
Undoubtedly, the former president has made public his pro-crypto stance. He’s not only pro-crypto but also increasingly perceived as pro-business, as recently highlighted by FundStrat’s Tom Lee.“When the market becomes more convinced of that, you’ll see cyclicals, small caps, and Bitcoin do better because those are clear policy differences.”“And a shitcoin is going to change that? I don’t think so. If you are reading this, don’t fall for it. Look at Bitcoin instead.”“This isn’t DeFi.
Despite the mixed views on the project, as of the time of writing, there were few details for constructive criticism to be leveled against or for it.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.Subscribe to get it daily in your inbox.
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