Donald Trump Jr. is making headlines in the crypto world, but not for jumping on the memecoin bandwagon. During a recent livestreamed Q&A session on the subscription-based platform Locals, he was asked about the Restore the Republic (RTR) memecoin, which had just experienced a rapid rise and fall amid rumors of being linked to Donald Trump, the current Republican nominee for the U.S. election. Don Jr. made it clear that while he respects the memecoin culture and the people behind it, his ambitions lie elsewhere.
“There’s a lot of guys doing great stuff. I love memecoins and that culture. I love what those guys are doing with some friends of mine. It’s great,” Don Jr. said during the session. However, he was quick to clarify that his project, which is still under wraps, is a “larger type of platform” and should not be conflated with the RTR token or other memecoins.
The RTR token, which saw a sudden spike in value earlier in the day before crashing, has now been labeled as an apparent “pump and dump” scheme. The rapid rise and fall were fueled by speculation that the token was associated with Donald Trump. This rumor was swiftly debunked by Eric Trump, Donald Trump’s second son, who stated that the association was “absolutely false.”
Don Jr. also took the opportunity during his Q&A to distance himself from the RTR token, although he stopped short of labeling it a scam. He emphasized that the token is not connected to the project he and his brother Eric are developing. Instead, Don Jr. hinted that their project would be a non-memecoin initiative intended as a “long term play,” with an official announcement to come when they are ready to go public.
Speculation about Don Jr.’s venture has been building, especially after trademark applications filed in July suggested the project might be called “World Liberty.” The Block reported on this development earlier in the week, adding fuel to the curiosity surrounding what the Trump brothers are planning.
During the Q&A, Don Jr. gave some hints about the project’s direction. He spoke about the appeal of decentralized finance (DeFi), particularly for individuals like him who have faced challenges with traditional banking and insurance systems. “This notion of decentralized finance is obviously very appealing to guys like me who’ve been de-banked or haven’t been able to get insurance or what not,” he said, suggesting that their project may aim to address these issues head-on.
Don Jr. also shared his thoughts on Bitcoin, expressing that while he sees value in it, he believes the crypto space will soon offer many other viable options. His comments suggest that he is looking beyond the current state of the market, with an eye on future developments that could reshape the financial landscape.
The livestreamed session provided a glimpse into Don Jr.’s thinking and the direction he and his brother may be taking with their upcoming project. While the details remain under wraps, it’s clear that they are aiming to create something more substantial than a memecoin. Their focus appears to be on building a platform that could potentially challenge traditional financial institutions, particularly in areas where individuals like Don Jr. have felt marginalized or excluded.
As the crypto community waits for more information, the Trump brothers’ project continues to generate buzz. Whether it’s called “World Liberty” or something else, the venture promises to be a significant player in the evolving world of decentralized finance. And while Don Jr. is steering clear of the memecoin craze, his respect for that culture shows an understanding of the diverse and dynamic nature of the crypto space.
The Trump brothers are known for their ability to make waves, and their entry into the world of decentralized finance is likely to be no different. As they prepare to unveil their project, the crypto world is watching closely to see what they will bring to the table. With a focus on long-term impact rather than quick wins, Don Jr. and Eric seem poised to make a lasting impression in a market that thrives on innovation and disruption.
