Donald Trump Jr., the eldest son of former President Donald Trump, has announced his intention to launch a new DeFi platform aimed at combating inequalities in access to banking services.
In a Q&A session on Locals, a subscription platform, on August 8, Trump Jr. emphasized that this project is not just a trendy cryptocurrency, but a much more ambitious initiative.
A Long-Term Project
Trump Jr. stressed that this platform will not be launched anytime soon, indicating that it is a long-term project without providing a specific timeline. He emphasized that the goal of this platform will be to challenge the traditional banking system, which he perceives as unequal, especially in terms of access to financing.
What we want to do is challenge a large part of the banking world. There are many inequalities in the sector, where only certain privileged individuals can obtain financing. The idea of decentralized finance is particularly attractive to those who have been excluded from the conventional banking system.
Donald Trump Jr.
Reactions and Memecoin Rumors
Trump Jr.’s announcement follows a series of speculations that began after he mentioned DeFi in a post on X on August 7. This message sparked rumors of a potential launch of a new cryptocurrency linked to the Trump family, but Trump Jr. quickly clarified that it was not a memecoin.
On the same day, his brother Eric Trump also hinted at the family’s increasing interest in crypto and DeFi, promising a “major announcement” to come. These statements fueled speculation and anticipation in the crypto community, with a memecoin achieving impressive performance before crashing.
The Restore the Republic (RTR), which had falsely been associated with the Trump family, saw its value plummet by 95% after Eric Trump denied any connection to the token. Trump Jr. reiterated this warning, urging investors to beware of fake tokens claiming to be affiliated with their project.
