Donald Trump announced the launch of a cryptocurrency platform on Thursday, presenting it as an alternative to traditional banks.
“For too long, the average American has been squeezed by the big banks and financial elites,” wrote Trump on his Truth Social network.
“It’s time we take a stand—together.”
Trump provided no details about the project, called “The DeFiant Ones.”
His post featured an iconic picture of him, fist clenched, after last month’s assassination attempt at a Pennsylvania rally.
Eric and Donald Jr., who head the Trump Organization, described the project as “digital real estate” in recent weeks. This could mean trading assets in the virtual metaverse or making real-world assets available as bitcoin-like tokens.
During his presidency, Trump referred to cryptocurrencies as a scam but has since changed his position, promising to be a “pro-bitcoin president” if elected in November.
Documents published in August showed Trump held between one and five million dollars worth of ether, the world’s second-largest cryptocurrency.
