Price data from AD Decrypt’s Art, Fashion, and Entertainment Hub highlights an upcoming crypto project backed by the Trump family. This project was previously known as “The DeFiant Ones.” Recently, the team issued a warning about potential scams and fake tokens claiming to be associated with it.

In a post on their official Telegram channel, now called “World Liberty Financial,” they stressed, “All official information will only be posted right here in this channel by our trusted team.” They added, “If it's not from us, it's not real.”

The rebranding to World Liberty Financial was uncovered through some Twitter investigation. Earlier this month, Donald Trump Jr. and Eric Trump teased the project. Trump Jr. confirmed that it’s a type of “DeFi platform,” but specific details are still under wraps. It’s unclear if the platform will keep the name "The DeFiant Ones," go with "World Liberty Financial," or something else entirely.

Decentralized finance, or DeFi, uses blockchain technology and cryptocurrency to replicate traditional financial services like lending, borrowing, and saving. These processes usually rely on smart contracts, which automate the functions of decentralized exchanges (DEXs).

The project gained traction after Donald Trump promoted it to his 7.57 million followers on Truth Social. He stated, “For too long, the average American has been squeezed by the big banks and financial elites,” and linked to the official Telegram channel. He encouraged people to take action together with the phrase, “It's time we take a stand—together. #BeDefiant.”

In an interview with the New York Post, Eric Trump suggested the project might focus on lending services for underserved communities. He pointed out, “Over half of this country right now cannot be banked,” meaning many are rejected for loans. He added that with this technology, people could quickly receive approval or denial from lenders based on algorithms, allowing funds to be in their accounts in minutes, not months.

The Telegram warning didn’t specify any particular "scam coin," but confusion has already arisen among investors about the upcoming Trump family crypto project. A Solana-based token called Restore the Republic (RTR) saw its market cap soar to $155 million earlier this month due to speculation about its ties to the Trump family project. However, the price then dropped by 90% after the Trumps denied any connection.

RTR gained attention from a tweet by Ryan Fournier, chairman of “Students for Trump,” which linked the token directly to the Trump family. This post was deleted shortly after it was shared.

This isn’t Trump’s first venture into crypto. He launched a series of Trump-themed NFTs in December 2022. This was followed by two more releases, all of which saw a surge in interest after an assassination attempt on him in July.