Crypto
Trump promotes family crypto platform ‘The DeFiant Ones’ on Truth Social
Former President Donald Trump promoted his family’s upcoming cryptocurrency platform called “The DeFiant Ones” in a Truth Social post on Thursday.
Trump shared the post with his 7.5 million followers Thursday morning, which son Donald Trump Jr. shared with his 12 million followers on X less than half an hour later.
“For too long, the average American has been squeezed by the big banks and financial elites,” the presidential candidate wrote. “It’s time we take a stand — together.”
The Truth Social post links to a Telegram messaging channel with nearly 34,000 subscribers and more streaming in.
A post calls the Telegram group chat “the only official Telegram channel for the Trump DeFi project” which is building “the future of finance.”
The former president’s sons, Trump Jr. and Eric Trump, have been hinting at the Trump Organization crypto platform for weeks.
Rumors swirled earlier this month when Eric posted on X that he had “fallen in love” with “Crypto / DeFi” and told his followers to “stay tuned.”
“It’s digital real estate,” he previously told The Post in an exclusive interview.
“It’s equitable. It’s collateral anyone can get access to and do so instantly. I don’t know if people realize what a shake up that is for the world of banking and finance. I hope we can help change that.”
He told The Post that the new crypto platform will allow more Americans to be approved or denied for loans “based on math, not policy. Money could be in their account in minutes, not months.”
Trump Jr. previously said the family is not launching a memecoin, but a digital bank prepared to take on the traditional US banking system.
The Trumps’ social media promotion of their new crypto platform landed on the final day of the Democratic National Convention as the race between Trump and Vice President Kamala Harris heats up.
As voters consistently rank the economy top of mind ahead of the 2024 presidential election, Trump and Harris have been vying to win over inflation-battered Americans.
Trump has backed tariff hikes while Harris has proposed a price gouging ban on grocery and food suppliers.
Both candidates are trying to woo crypto bigwigs, who hope the next administration will relax industry regulations.
Trump has tried to stake his claim as the crypto candidate, reversing his skeptic stance on crypto from 2019.
So far this year, Trump launched a non-fungible token collection on the Solana blockchain, became the first major presidential nominee to accept donations in cryptocurrency and headlined the Bitcoin Conference in Nashville, Tenn.
The Republican nominee said he had raised $25 million in crypto donations as of the end of July.
Crypto investors seem to have placed their bets on Trump, as Bitcoin and crypto platform shares soared after he was shot in an assassination attempt – which voters assumed would help his odds of winning the presidency.
Bitcoin shares spiked again after Trump spoke at the Bitcoin Conference and pledged to make the US the “crypto capital of the planet.”
Crypto
Westlake police say cryptocurrency scam cost woman over $5,000
WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.
The clerk said the customer would not believe the clerk’s warning that she was being scammed.
Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.
The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.
The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.
She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.
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Read more from the West Shore Sun.
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