- Donald Trump recently launched The DeFiant Ones which is a crypto-project that some claim to be his DeFi initiative for financial inclusion.
- Ripple officials had previously spoken with Trump about this.
Donald Trump dropped another crypto bombshell. He teased a DeFi project that may be his most important financial inclusion initiative. The XRP network believes it is a likely candidate to support the venture.
Trump, Republican Party candidate for the 2016 elections and the social media platform Truth Social that his company offers as an alternative to X, Facebook, is teased about the project. He pointed out that Americans had been using social media for many decades. “have been squeezed by the big banks and financial elites.”
He called for his supporters. “take a stand together.”
The post, in a typical Trump style, was short on specifics for the project. most of his promises The crypto industry is going to be a hot topic this year. The link did however contain an overview of the crypto world. Telegram group There are now over 44,000 Members.
This group claims to be a “the only official Telegram channel for the Trump DeFi project!” The team responded to Trump’s Friday blog post, in which he criticized traditional finance for rigging the system.
“They shut people out, deny them loans, drown them in paperwork and kill them with legal and processing fees. These banks and the elites who run them want absolute control, but that ends now,” The team has added.
However, despite demonising TradFi, it’s worth noting that Trump owns stock in JPMorgan Chase & Co, the largest bank in the US. Former president claimed even in an interview Bloomberg claimed that Dimon was a candidate for Treasury Secretary. He later denied the claim.
DeFiant Ones has added:
Restoring the power to YOU will make finance once again great. The new DeFi platform eliminates the inefficient, corrupt and expensive middlemen. No more bureaucrats deciding your fate. Now is the time to change an antiquated and unfair system. Everyone should have the same opportunity that elites are enjoying. Let’s join forces and make finance again work for people.
Can XRP play a part in Trump’s DeFi pledge? Well, the XRP Ledger ecosystem has become a very powerful DeFi one. Ripple will launch its own cryptocurrency later this year. will launch a stablecoinThis could bring in billions of dollars, and is therefore a perfect platform for national DeFi.
XRPL is able to offer lower fees than its competitors like Ethereum. This makes it more accessible for those with limited financial resources. Ethereum has yet to master this despite having the most users and switching from proof of stake to DeFi.
🚨 BREAKING:
Donald Trump said: “For too long, the average American has been squeezed by the big banks and financial elites.”
Ripple also discussed #XRP Trump has been in office since 2018👀https://t.co/tdcNSAru56 pic.twitter.com/UzCJ1KXUxa
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) August 22, 2024
XRP can be traded on $0.6013The shedding 1.9% In the last day.
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