Trump Jr. emphasized his new project is not a meme coin but a DeFi platform targeting banks.
Former President Donald Trump, now a presidential candidate, has made Bitcoin a central focus of his campaign, promising to make the US a global crypto leader.
Building on his father’s recent pivot toward crypto, Donald Trump Jr. is developing a new decentralized finance (DeFi) platform to address banking access inequality.
Trump Jr Targets the Debanked
On August 8, in a Q&A session hosted on Locals, Trump Jr., the eldest son of presidential candidate and former President Donald Trump, revealed that he’s working on a crypto platform to challenge the banks rather than launch a meme coin. He didn’t elaborate further but highlighted that the platform would target the banking sector.
“What we want to do is take on a lot of the banking world. I think there has been a lot of inequality in that only certain people can get financing.. 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 whatnot.”
Eric Trump, too, echoed his brother’s sentiments about the crypto industry, posting on X that he has “fallen in love with crypto/DeFi” and hinting at a major upcoming announcement.
Meanwhile, the latest development comes amidst Republican nominee Donald Trump’s work to repair relations with the crypto industry, as part of which he led the largest Bitcoin conference of the year in Nashville on July 27.
Trump even announced that if he wins the upcoming election, he plans to establish the US as the crypto capital of the planet and the Bitcoin superpower of the world. In recent weeks, Trump has met with the top Bitcoin mining firms, among other things.
Trump-Themed Token Dump
During the same Q&A session, Eric Trump also addressed the recent speculation surrounding the Restore the Republic (RTR) meme coin, which had experienced a surge followed by a sharp decline due to false rumors linking it to the Trump family.
He also took to X to firmly deny any association with the meme coin, labeling the rumors as “absolutely false,” a statement that led to over 80% crash in the RTR token’s value from its peak.
According to data shared by on-chain investigator Lookonchain, early investors or insiders profited $4 million within six hours from the token’s price surge and crash. Five crypto wallets purchased 105 million RTR tokens using $882,000 worth of SOL and later sold 95 million tokens for $5 million in SOL.