Former US President and presidential candidate Donald Trump has promised to launch a cryptocurrency platform this Thursday, pitching it as an alternative to offerings from major banks and financial institutions.
“Americans have been bullied by big banks and the financial elite for too long. It’s time to fight back together,” the Republican presidential candidate in November explained on social media platforms X and Truth Social, the latter of which he founded.
Donald Trump, who was against cryptocurrencies during his presidency, considering them a scam, has radically changed his position on the issue to the point that he now positions himself as a champion of digital currencies.
The platform promised by Trump will be based on so-called decentralized finance, a mechanism that eliminates the need for an intermediary such as a bank to conduct transactions with third parties.
Decentralized finance is based on so-called blockchain technology, which keeps a record of transactions that is theoretically inviolable and accessible to everyone.
Documents released in mid-August showed that the former North American president owned between $1 million and $5 million in ethereum, the world’s second-largest cryptocurrency.
Author: Lusa
Source: CM Jornal
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