Palm Beach, Florida - Donald Trump and his two eldest sons are trying to create their own crypto bank, and they want MAGA to help them get it started.

On Thursday morning, Trump shared a link on his Truth Social platform to a Telegram channel titled "The DeFiant Ones," which has amassed over 33,000 subscribers since it was created on August 6.

"For too long, the average American has been squeezed by the big banks and financial elites," Trump wrote in his post.

"It's time we take a stand – together."

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It's a bit unclear exactly what Trump is planning to do with the project, as the channel contains no information, but his two eldest sons, Don Jr. and Eric, have been enthusiastically talking about it in recent weeks.

During a recent Q&A, Don Jr. insisted they were not starting a memecoin but attempting to form their own decentralized digital bank.

"I think there has been a lot of inequality in that only certain people can get financing," Jr. explained.

"So this notion of decentralized finance is obviously very appealing to guys like me who have been debanked, or haven't been able to get insurance... or mortgages because they don't check certain boxes."

In a recent interview with The New York Post, Trump's second-eldest son, Eric, explained that his family has dealt with their "fair share of financial discrimination" over the years and broke down how the new project will help average people navigate the market, which he claims is manipulated "all the time."

"With this technology, [users] could have the ability to almost instantaneously be approved or denied from a lender based on math, not policy," he argued.

"Money could be in their account in minutes, not months," he added, further describing it as "collateral anyone can get access to."

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While the Trumps appear ambitious about the project, critics on social media have been quick to note that while former President Trump is well-known for creating successful business ventures, he is even more well-known for his many failed ones, such as Trump University, that have faced allegations of being scams.

Trump's most successful venture – The Trump Organization, which his sons have helped head – was found liable for fraud earlier this year. He was ordered to pay over $355 million and is banned from doing business in New York state ever again.

Other users also noted that the Trump family is among the "financial elites" they claim they want to stand up against and pointed out that former President Trump used to openly call crypto a "scam."