Donald Trump appears to be taking an even deeper dive into the digital asset world, saying that he’ll unveil plans to ensure that the US will be the “crypto capital of the planet.”

The former US president and current Republican Party nominee for the office wasn’t more specific in a video message on Thursday on the X social media platform. The post included a link to World Liberty Financial, a decentralized finance project that his sons have been promoting recently.

“This afternoon, I’m laying out my plan to ensure that the United States will be the crypto capital of the planet,” Trump said in a video.

Republican presidential nominee former President Donald Trump speaks during a campaign event at Alro Steel on  Thursday, in Potterville, Mich. Paul Sancya/Associated Press

Trump has done a complete about-face toward the asset class, which he had considered a crime-riddled scam while he was in office. Last month he was the featured speaker at a Bitcoin conference where donors were asked to pay $844,600 for a seat at a round table with Trump.

Decentralized finance, or DeFi, is a sub-sector of crypto that aims to eliminate intermediaries such as banks and brokers through software-driven applications. Its proponents claim that DeFi projects will democratize finance.

“They want to choke you. They want to choke you out of business,” Trump said in the video on X, without specifying who “they” are. “We’re not going to let that happen.”

Advocates say that a regulatory crackdown on crypto has made the US a less friendly country for building DeFi projects. Uniswap Labs, the creator of the largest DeFi trading platform on the Ethereum blockchain, said earlier this year that the US Securities and Exchange Commission has warned that it faces potential enforcement action for operating as an unregistered exchange and broker-dealer.

Details are unclear about the DeFi project promoted by Eric and Donald Trump Jr. World Liberty Financial has already launched a channel on the social media platform Telegram with more than 52,000 subscribers. Telegram’s chief executive officer, Pavel Durov, was charged this week in France for complicity in the spread of sexual images of children and other crimes.

“President Donald J. Trump has just tweeted about World Liberty Financial!” The latest message from the Telegram channel wrote. “Let’s show our support and keep pushing forward together! Be DeFiant!”

On Tuesday, a fourth collection of nonfungible tokens, which feature images ranging from the former president in a superhero costume to holding figurative Bitcoins, was launched. The NFTs sell for $99 each.

The former president’s CIC Digital LLC, which earned $7.2 million through licensing his image on NFTs, held a crypto wallet with at least $1 million in Ethereum. Trump’s support of crypto has led some executives in the sector, including venture capitalists Marc Andreessen and Ben Horowitz, to endorse him.