Former President Donald Trump The cryptocurrency project has warned of the risk of falling victim to scams and fake tokens linked to its upcoming decentralized finance (DeFi) banking venture.
What happened: On Sunday, a message on the official Telegram channel of the highly anticipated cryptocurrency project warned against using tokens claiming to be associated with “The DeFiant Ones” or “World Liberty.”
The team behind the project reiterated that all official information would only be posted on the channel by trusted people. “If it’s not from us, it’s not real,” the message read.
At the same time, the name of the official channel was changed from “The DeFiant Ones” to “World Liberty Financial.” At the time of writing, the channel had nearly 45,000 subscribers.
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Why it matters: The warning follows the announcement of a new DeFi platform by former President Trump, which has been the subject of heated speculation due to aggressive promotions by his sons, Donald Trump Jr. And Eric Trump.
The platform, which aims to challenge traditional banking systems, was announced to its 7.5 million followers on Truth Social.
The cryptocurrency project, which is said to be part of the family conglomerate, The Trump Organizationwas previously called “digital real estate” by Eric Trump.
Price action:As I write this, Trump’s theme Maga TRUMP/USD PolitiFi token was trading at $3.91, up 0.75% in the last 24 hours. PolitiFi token has surged 42% in the last week.
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