Donald Trump Jr. has announced his intention to create a new decentralized finance (DeFi) cryptocurrency platform. His goal is to address inequality in banking access.
Rumors and Speculation
During a Q&A session on Locals on August 8th, Trump Jr. shared his crypto plans. Speculation began after he hinted at a “HUGE” DeFi-related announcement in an August 7th X post. Many believed it could involve a new meme coin.
No Meme Coin, Just a Larger Platform
Trump Jr. clarified during the Q&A that he is working on a DeFi platform to challenge banks. He emphasized that this is not a meme coin. The platform is described as a “larger type of platform.” He also noted that it would take time before anything concrete can be done.
Addressing False Rumors
Trump Jr. also addressed the rumors surrounding the Restore the Republic (RTR) meme coin. The coin experienced volatility due to false claims of Trump family involvement. Eric Trump, his brother, denied any connection to the RTR token, causing a sharp drop in its value.
Trump Family’s Growing Interest in Cryptocurrency
The Trump family’s interest in cryptocurrency has grown recently. Despite previous criticisms of Bitcoin, Donald Trump has recently become more supportive of crypto. On June 14th, he announced his plan to end the Biden administration’s “war on crypto” if elected president.
Voters’ Interest in Cryptocurrency
Trump’s change in stance aligns with the views of many U.S. voters. A recent survey revealed that one in three voters considers a candidate’s position on cryptocurrencies before voting. As the 2024 U.S. Presidential Election approaches, Trump’s crypto-friendly position is gaining traction among voters.
Conclusion
Despite Trump’s growing support in the crypto community, the race for the presidency remains tight. Both Trump and Vice President Kamala Harris are currently tied in the polls, with 49% odds on Polymarket.
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