Eric Trump, son of former President Donald Trump, hinted that major announcements related to the family’s upcoming cryptocurrency project could come anytime now and urged the public to follow their official Telegram channel for updates.
What Happened: Eric Trump, the Executive Vice President of the family-owned conglomerate with a real-estate focus, The Trump Organization, wrote a post on X Tuesday, “Almost ready to make some big announcements regarding the Crypto project… Getting very excited.”
At the time of writing, Benzinga had yet to spot any notable announcements on the official “The DeFiant Ones" channel.
Eric Trump had given a glimpse of the project earlier, referring to it as “digital real estate.” He expressed optimism about its potential to disrupt traditional banking and finance.
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Why It Matters: This post followed a series of clues from the Trump family regarding their venture into cryptocurrencies, since first announcing it two weeks ago.
Initially, rumors of an official token project from the Trumps did the rounds, with some enthusiasts falling victim to shitcoins like Restore The Republic. This prompted a word of caution from the family.
However, as more information emerged, it became clearer that the new endeavor was most likely a DeFi-based real estate project.
Price Action: As of writing, Trump-themed Maga TRUMP/USD was exchanging hands at $2.63, down 2.57% in the last 24 hours.
Photo by Mark Reinstein on Shutterstock
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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