Donald Trump Jr. look at banking reform with the upcoming DeFi project

Former President Donald Trump, now a presidential candidate, has made Bitcoin a central focus of his campaign, promising to make the United States a global crypto leader.

Building on his father’s recent pivot to crypto, Donald Trump Jr. is developing a new decentralized finance platform (DeFi) to address the inequality of access to banking.

Trump Jr targets the unseated

On August 8, in a question-and-answer session hosted at Locals, Trump Jr., the eldest son of presidential candidate and former president Donald Trump, revealed that he was working on a crypto platform to challenge banks instead of launching a coin meme. He did not elaborate, but emphasized that the platform would target the banking sector.

“What we want to do is take over a large part of the banking world. I think there’s been a lot of inequality in the fact that only some people can get financing…so this notion of decentralized finance is obviously very attractive to guys like me who’ve gone bankrupt or haven’t been able to get insurance or anything “.

Eric Trump, too, echoed his brother’s sentiments about the crypto industry, posting on X that he had “fallen in love with crypto/DeFi” and hinting at a major announcement coming soon.

Meanwhile, the latest development comes amid Republican candidate Donald Trump’s work to mend relations with the crypto industry, as part of which he headlined the biggest Bitcoin conference of the year in Nashville on July 27.

Trump even announced that if he wins the next 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 major Bitcoin mining companies, among other things.

Trump themed tile dump

During the same Q&A session, Eric Trump also addressed the recent speculation about the Restore the Republic (RTR) meme currency, which had experienced a spike followed by a sharp decline due to false rumors linking it to the family trump

It also led X to strongly deny any association with the meme coin, calling the rumors “absolutely false,” a statement that caused the value of the RTR token to drop more than 80% from its peak.

According to data shared by chain researcher Lookonchain, early investors or insiders made $4 million in six hours after the token price rose and fell. Five crypto wallets bought 105 million RTR tokens with SOL worth $882,000 and then sold 95 million tokens for $5 million in SOL.

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