Former US President and current presidential candidate Donald Trump has announced the creation of a cryptocurrency-related business called The DeFiant Ones. This is reported by The Verge.

In a message on his Truth Social social network, Trump said that "ordinary Americans have come under pressure from the big banks and the financial elite," but did not provide any additional details about exactly what The Defiant Ones are, how they work or how they will help people.

At this stage, it is impossible to say exactly what kind of project this is - whether it is a cryptocurrency, a trading platform, or just a crypto website.

In recent interviews, Trump's sons Donald Jr. and Eric admitted the project could be created to help people who don't have bank accounts. According to the FDIC, by 2021 there were 5.9 million such Americans.

The idea that cryptocurrency can help the unbanked get the best access to financial services is widespread in the industry, but reports suggest otherwise.

The Center for American Progress (CAP) found “no systematic evidence that crypto-transactions are cheaper than traditional financial transactions,” noting that crypto-assets are mainly used for speculation rather than payments.

"The primary goal of financial inclusion is to improve the overall economic well-being of low-income individuals, and encouraging people to use their hard-earned money or savings to buy high-risk assets can do the opposite," Todd Phillips, former director of financial regulation and corporate CAP, said in 2022 .