Donald Trump Jr. says he loves memecoins but new project is something ‘much bigger’

Donald Trump Jr. expressed his respect for memecoins but said his project is a “larger type of platform” compared to meme tokens when asked about the Restore the Republic (RTR) memecoin during a livestreamed Q&A session on 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 quickly soared and fell amid rumors of being associated with Donald Trump, the current Republican nominee for the U.S. election. It is now regarded as an apparent “pump and dump” scheme. 

Eric Trump, the former president’s second son, clarified that the rumor is “absolutely false.” Don Jr., during his online Q&A session, said that he is not calling RTR a scam, but the token is not associated with the project he and Eric are building.

Don Jr. added that the project is going to be a non-memecoin project intended as a “long term play” and that they will announce it directly when it is 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 what not.”

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

Meanwhile, Don Jr. commented that bitcoin is great, but predicted that there will be many other options in the crypto space.