Crypto: Trump Announces his own Exchange, What to Expect ?

Former US President Donald Trump is set to make a splash in the crypto market. According to an exclusive CNBC report, the 2024 Republican presidential candidate plans to launch his own crypto exchange platform, called “The DeFiant Ones”.

An audacious strategy to woo the average voter

In a context where crypto is gaining ground, Trump seems to have caught on to the right trend and does not intend to stop at mere declarations.

True to his disruptive style, he announced this ambitious project on his social network Truth Social, stating: “For too long, the average American has been sidelined by big banks and financial elites. It is time for us to take a stand, together.” This initiative is part of a broader strategy to capture the crypto-enthusiast electorate.

The “The DeFiant Ones” project seems to be a family affair. Eric Trump, the former president’s son, described the platform as a “digital real estate,” referring to decentralized finance (DeFi) as a guarantee of financial fairness. Donald Trump Jr., on the other hand, sees DeFi protocols as “the future of finance”.

“What we want to do is capture a large part of the banking world,” explained Trump Jr. in an interview with CNBC. He thus emphasizes the appeal of decentralized finance for those who have been unbanked, an argument that could resonate with many voters.

A project that is part of a clear pro-crypto trend

This announcement is part of a clear trend. Indeed, for several months, Trump has multiplied pro-crypto signals. In July, he delivered a historic speech at the Bitcoin 2024 conference in Nashville, where he reportedly raised no less than 21 million dollars for his campaign. More recently, he chose Ohio Senator JD Vance as his running mate, who openly supports cryptos.

The revelation by Citizens for Ethics of a hidden crypto fortune of Trump, estimated between 1 and 5 million dollars, a significant part of which in Ethereum, adds credibility to his engagement in this sector.

In short, the launch of this crypto platform by Trump comes at a crucial moment in his campaign. As his potential rival, Kamala Harris, gains ground on prediction platforms, this initiative could allow him to regain the advantage.