Will Donald Trump launch his own crypto platform?

Donald Trump is backing a crypto platform for the first time: The Defiant Ones, CNBC reports. The Defiant Ones is a project of his two sons, Eric and Donald Jr. Whether he himself will be directly involved is still unclear.

"For too long the average American has been squeezed by the big banks and financial elites," Trump said on Truth Social, referring to the platform. "It's time we fight back. Together." Below that, he posted the Telegram link to the platform's official group, called "Trump DeFi Project."

Eric and Donald Jr. have been teasing the platform for weeks. It would be about "digital real estate." "It's fair. It's collateral that anyone can have instant access to," Eric Trump explained to the New York Post early this month. "I don't know if people realize what a revolution this means for the world of banking and finance. I hope we can help change that." A launch date for The Defiant Ones has not yet been set.

Donald Trump has positioned himself as a pro-crypto president. He wants to make the US a "Bitcoin superpower" and support the crypto industry with various laws.