Donald Trump Jr. Discusses Memecoins and RTR Token

Donald Trump Jr. expressed his respect for memecoins but differentiated his own project as a “larger type of platform” compared to meme tokens during a livestreamed Q&A session on the subscription-based platform Locals.

“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. “But I just have to make sure that people understand that you can’t conflate one thing with another.”

Earlier today, the RTR token experienced rapid fluctuations amid rumors of being associated with Donald Trump, the current Republican nominee for the U.S. election, and is now viewed as an apparent “pump and dump” scheme.

Eric Trump, the former president’s second son, clarified that the rumor is “absolutely false.” During his online Q&A, Don Jr. stated he is not labeling RTR a scam, but confirmed it is not linked to the project he and Eric are developing.

Don Jr. noted that their venture is intended as a non-memecoin project focused on being a “long term play” and will be announced when ready.

“I think what we want to do is sort of take on a lot of the banking world,” Don Jr. said. “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 whatnot.”

The Block reported that their DeFi project, teased earlier this week, might be named “World Liberty,” as indicated by trademark applications filed in July.

Meanwhile, Don Jr. acknowledged that bitcoin is great but predicted the emergence of many other options in the crypto space.