Donald Trump Jr. Says Crypto Was A Lifeline After Being Debanked: 'We Got Into It Out Of Necessity'

Donald Trump Jr. says his family's move into cryptocurrency was born not from trend-chasing but from financial necessity, citing a complete loss of access to traditional banking after entering politics.

What Happened: In an interview with CNBC on Tuesday, Trump Jr. said he and his brother faced abrupt exclusion from the financial system after their father entered the White House.

"We were debanked," he said, adding, "There was a time I could call any banker in New York and get financing. That disappeared overnight."

This exclusion, he said, gave the Trump family a firsthand view of what everyday Americans already experience.

"We were just at the top of a pyramid scheme we didn't even know we were part of. Suddenly, we were in the shoes of the regular guy," Trump Jr. explained.

Trump Jr. said the Trump Organization then pivoted toward crypto, investing in projects like American Bitcoin, USD1 and World Liberty Finance. "We got into crypto not because it was cool, but because we understood how quickly we could be shut off."

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He also argued that blockchain-based financial systems create efficiencies traditional systems lack: "Why am I paying points in and out for title insurance that could be done on the blockchain?"

Why It Matters: On the role of stablecoins in supporting U.S. financial dominance, Trump Jr. said: "I think stablecoins are actually going to be the savior of dollar hegemony in the world, not a detractor from it."

He pointed out that major stablecoin issuers are becoming key holders of U.S. Treasuries.

"Tether is the fourth-largest holder of U.S. Treasuries. That's not small," he said.

Regarding USD1, his family's stablecoin project, he noted it is fully backed one-to-one with U.S. Treasuries.

Trump Jr. distanced himself from the controversial meme coin associated with his father, saying he was focused on "stablecoins, Bitcoin mining, and things that drive real utility." He added, "I wasn't involved in the meme coin," but said the broader crypto community has welcomed the Trump family's involvement as validation.

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