Republican presidential candidate Donald Trump has announced the upcoming launch of a cryptocurrency platform, pitching it as an alternative to banks and financial institutions. "For too long, the average American has been squeezed by the big banks and financial elites," Trump wrote on his Truth social network. Trump did not provide details on the exact content of the project, dubbed "The Defiant." Two of the former US president's sons, Eric and Donald Jr., who head the family conglomerate the Trump. Organization, have in recent weeks described the project as "digital real estate." This could refer to the trading of assets in the virtual worlds of the metaverse, or a method that allows real-world assets to be bought and sold in bitcoin-like tokens. During his presidency, Trump called cryptocurrencies a scam, but has since reversed his position, presenting himself as a "pro-bitcoin president" if elected in November. In doing so, he stands in opposition to the Biden administration, which is seen as a proponent of regulating the sector. Trump's rival for the White House, Kamala Harris, who is also Biden's running mate, has not taken a clear position either way since she launched her campaign last month. | BGNES