Key Points
- Donald Trump Jr. announced plans to launch a DeFi crypto platform to take on the banks.
- The announcement came after more crypto-related posts via X.
After Donald Trump has been showing increased support for Bitcoin and the crypto industry in 2024, his son, Donald Trump Jr. disclosed his own crypto plans.
He just announced the launch of a new DeFi crypto platform that will “take on banks.” According to his statement, the platform is still in the early stages and it will take some time before it can be eventually launched.
A DeFi Crypto Platform to “Take On Banks”
During a recent Q&A session on subscription-based platform Locals on August 8, Trump’s eldest son said that he is working on a crypto platform that has the aim to take on the banks, addressing inequality in the banking sector.
During the session he made it very clear that he’s not working on a meme coins-related project, but a larger type of platform. He also added that there would be a long time before they can do anything, hinting at the fact that the project is still in the works.
He highlighted that the platform will be aimed at taking on the current banking system as there’s a lot of inequality and only certain people can get financing.
He said that this notion of decentralized finance is obviously very appealing to people like him who have been de-banked.
A Project to “Shake Up the Crypto World”
Trump Jr. teased the idea of working on some kind of crypto project on August 7 when he shared a post via his X account, saying that they are about to “shake up the crypto world” with something huge.
In the same message, he said that decentralized finance is the future and people should not be left behind.
On August 8, Trump Jr. shared another post on X, saying that he loves how much the crypto community is embracing his father. He also told followers to be cautious and beware of fake tokens claiming to be part of the Trump project.
The only official project will be announced directly by them, and it will be fair for everyone, he said.
2024 Presidential candidate Donald Trump has been showing increased support for the crypto industry lately as well, taking part at the Bitcoin 2024 Conference and highlighting on multiple occasions that the US government should not sell its Bitcoin reserves.
