   
Donald Trump Jr. is stirring up the crypto world. After teasing a “huge” crypto announcement two days ago, the former US president’s eldest child has now revealed his plans for a decentralized finance (DeFi) crypto platform that aims to address inequality in access to banking services.
While Donald Trump Jr. hasn’t revealed many details about the platform, he has made one thing clear: This is not another Trump-themed memecoin.
Donald Trump Jr.’s DeFi project
During a Q&A on subscription platform Locals on Thursday, Donald Trump Jr. said he was working on a crypto platform to challenge traditional banking systems.
“We’re talking about a broader type of platform,” which is very different and is not a memecoin,” he posited.
Don Jr. added that the platform is still in its early stages and will take some time before it becomes a reality, though he did not give a time frame. While most details were not disclosed, he did emphasize that the upcoming crypto platform would target the traditional banking system:
 “What we want to do is take on a large part of the banking world. I think there has been a lot of inequality in the sense that only certain people can get finance (…) so this notion of decentralized finance is obviously very attractive to people like me who have been debanked.”
No new memecoins
Hopes for a new crypto offering from Donald Trump were rekindled earlier this week after Donald Trump Jr. teased a project that would “shake up the crypto world with something HUGE.” His younger brother, Eric Trump, tweeted the same day that he had “fallen in love with crypto/DeFi.”
During the Q&A, the Trump brothers also addressed rumors about the new Solana-based memecoin Restore the Republic (RTR), which ballooned to a market cap of $155 million before crashing 95% amid false rumors of a connection to the Trump family. Both brothers denied any connection to RTR and called the rumors “absolutely false.”
The Trump sons’ public statements on cryptocurrencies follow their father’s embrace of the evolving cryptocurrency industry. ZyCrypto As we’ve already mentioned, Republican presidential candidate Donald Trump has gone from being a scammer to one of the most vocal proponents of crypto in American politics.
Earlier this month, Trump proposed that the United States could even pay off the gargantuan $35 trillion national debt in bitcoin — “a small crypto check.” The statement follows his recent promise at the Bitcoin Nashville conference to establish a “strategic bitcoin stockpile” for the country and “hold 100% of all bitcoin that the U.S. government currently holds or acquires into the future.”
