KEY POINTS
- Trump Jr. said over the weekend that the platform is especially for unbanked consumers
- A company filed for trademark applications for "World Financial Liberty" in July
- The venture's Telegram group now has over 45,000 subscribers since it was created some 2 weeks ago
Donald Trump Jr. and his brother, Eric, have provided a few more details about their decentralized finance (DeFi) project that they teased earlier this month, and this time, they also changed the venture's name.
Putting Power Back Where It Belongs
On Saturday, Trump Jr. took to the project's Telegram group, which now has over 45,000 subscribers, to provide followers with more details about how the platform will work. While he did not go into the technicalities, he did say the venture is dedicated to Americans, who, like his family, have been "de-banked, de-platformed and had every political game imaginable played on us."
He slammed "crooked banks" for allegedly rigging the system against "everyday" consumers. With the Trumps' new DeFi platform, he said, "we're making finance great again by putting the power back in your hands."
He added that the platform eliminates the need for a middleman and there will be "no more bureaucrats deciding your fate."
From Defiance to Freedom
On Monday, the Telegram channel's name was changed from "The DeFiant Ones" to "World Liberty Financial." The name change was followed by another message from the group's admins, warning supporters not to fall victim to fake crypto tokens claiming to be associated with the Trumps' project.
"Do not engage with these tokens!" the warning message stated. The project also reiterated that "all official information" will only be posted on the said channel.
The Trumps have also since created a new X account dedicated for their crypto venture. The project said early Tuesday that it is gearing up for major announcements that will "transform decentralized finance forever."
Project in the Works Since July?
The Block previously reported that a company called AMG Software had filed trademark applications for the terms "World Liberty Financial," "World Liberty," and "Be DeFiant." The home address for AMG Software is the same as the one listed for OnlyFans rival Subify.
Interestingly, real estate investor Steve Witkoff – a friend of Republican presidential nominee Donald Trump – wrote earlier this month that he was "on the verge of something game-changing in crypto and DeFi." He also used #BeDeFiant in his post. Trump Jr. used the same hashtag when he first teased about the project. The Block noted how Witkoff follows crypto businessperson Chase Hero, the managing partner for Subify.
We’re on the verge of something game-changing in Crypto and DeFi. Bringing financial power and freedom back to the people—get ready. #BeDeFiant
— Steve Witkoff (@SteveWitkoff) August 6, 2024
It remains to be seen how exactly Witkoff and Hero are associated with the Trumps' venture.
Meanwhile, Trump himself has since promoted his children's DeFi project, saying the venture will be a pathway for consumers to "take a stand" against financial elites and big banks who have "squeezed" the American public.
