In a video posted Thursday on the social platform X, Trump emphasized the need to move away from traditional banking systems, saying, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.”
In a video posted Thursday on the social platform X, Trump emphasized the need to move away from traditional banking systems, saying, “We’re embracing the future with crypto and leaving the slow and outdated big banks behind.”
The launch event, branded as a “state of crypto address,” will take place on X’s Spaces at 8 p.m. EDT on Monday, where Trump will further elaborate on his vision for the platform as the Republican presidential nominee.
He initially teased the project last month on his Truth Social account, calling for financial independence from big banks and linking to a Telegram channel dubbed “The DeFiant Ones,” which has since been rebranded to “World Liberty Financial.” The channel is now positioned as the “Official Trump DeFi Channel.”
Trump, who once dismissed cryptocurrency as a “scam,” has made a notable shift in his stance, embracing the industry in his current presidential run.
He has promised to make the U.S. the “crypto capital of the planet” if reelected in November. Speaking at a bitcoin conference in July, he unveiled a series of proposals aimed at strengthening the country’s crypto industry, stating, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.”
His move toward crypto comes as the industry faces increasing regulatory pressure from the Biden administration and Securities and Exchange Commission Chair Gary Gensler, a point of frustration for many in the sector.
TechEchelon Staff bylines are produced collectively by the newsroom for short, breaking, and wire-style coverage. Longer-form reporting is published under the responsible reporter's name.
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