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    Donald Trump Jr. Announces Plans to Launch DeFi Platform to Address Banking Inequality

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    Donald Trump Jr. Announces Plans to Launch DeFi Platform to Address Banking Inequality

    Donald Trump Jr. has unveiled plans to launch a new decentralized finance (DeFi) cryptocurrency platform aimed at addressing inequality in banking access.

    The announcement was made during a Q&A session on the subscription-based platform Locals on August 8th, where Trump Jr., the eldest son of presidential candidate Donald Trump, discussed his highly anticipated crypto venture.

    Speculation around Trump Jr.’s crypto involvement began after he teased a “HUGE” DeFi-related announcement in an August 7 X post, leading many to believe it might involve a new meme coin.

    However, during the Q&A, Trump Jr. clarified that his project is not a meme coin but rather a more significant platform designed to “take on” traditional banks.

    He emphasized that the platform would address the inequalities present in the current banking system, though he did not provide specific details or a timeline for the project’s launch.

    Trump Jr. also addressed rumors surrounding the Restore the Republic (RTR) meme coin, which had experienced a surge and crash due to false associations with the Trump family.

    He confirmed that the Trump family had no connection to the RTR token, a sentiment echoed by his brother, Eric Trump, who called the rumors “absolutely false” in a separate X post, leading to a significant drop in the token’s value.

    The Trump family’s increasing interest in cryptocurrency marks a notable shift, particularly for Donald Trump, who previously criticized Bitcoin as a “scam”.

    Recently, he has vowed to end the Biden administration’s “war on crypto” if elected president, signaling a more favorable stance toward the industry. 

    Surveys indicate that cryptocurrency is becoming an important issue for voters, with one in three U.S. voters considering a candidate’s position on crypto before casting their vote.

    Donald Trump’s position has gained substantial support within the crypto community as he campaigns for the 2024 U.S. Presidential Election.

    For more Web3 news, check out the XGA newsfeed.

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