US President Donald Trump’s eldest son, Donald Trump Jr., says his household turned to Bitcoin and crypto after dealing with banking roadblocks. Based on a latest CNBC Squawk Field interview, the Trump Group all of a sudden discovered it onerous to borrow cash as soon as political winds shifted.
That compelled them to search for different methods to maintain tasks shifting. Within the interview, Trump Jr. careworn that this transfer wasn’t about chasing a pattern. It was about discovering a lifeline when banks stopped answering their calls.
Banking Doorways Closed
Trump Jr. stated that earlier than his father took workplace, banks in New York handled the household like every other developer. Loans had been straightforward to get. Offers went by quick. Then, in January 2017, the whole lot modified. Banks stopped returning calls and froze out even lengthy‐standing tasks.
“We’re all in on crypto,” says @DonaldJTrumpJR of his household’s ties with stablecoins and $BTC. “We obtained into crypto not as a result of it was the subsequent cool factor, we obtained into it out of necessity.”https://t.co/YnJK5JMmBT
— Squawk Field (@SquawkCNBC) June 3, 2025
Primarily based on studies, Trump Jr. stated the household couldn’t get primary financing, regardless of having stable data and beneficial actual property. He added that they felt the identical hurdles on a regular basis People face, from mortgage denials to excessive charges.
That shift made him and his brother Eric understand the system wasn’t constructed to deal with everybody pretty. So that they began to look past conventional finance.
TRUMPUSD buying and selling at $11.20 on the 24-hour chart: TradingView.com
Turning To Crypto
In the identical interview, Trump Jr. defined why blockchain caught his eye. He pointed to title insurance coverage, a course of that may be sluggish and costly. He noticed a chance to make actual property offers sooner and cheaper utilizing crypto instruments.
Based on Trump Jr., blockchain may pace up primary duties with out middlemen taking large cuts. He stated it wasn’t about leaping on a buzzword. It was about discovering a technique to maintain tasks alive. He described the choice as a “crucial pivot” after banks slammed the door shut.
Debate Over Meme Coin
The Trump household’s transfer into crypto additionally features a meme coin tied to the Trump identify. Trump Jr. stated he wasn’t a part of that mission. He known as it a “proof of idea” to point out how blocked‐off individuals can nonetheless increase cash.
In mid‐January 2025, President Trump launched the TRUMP coin, and Melania Trump rolled out MELANIA. It’s stated that Trump‐affiliated teams maintain 80% of each cash. That raises questions on affect.
Critics fear that meme cash can let actors ship cash to these in energy with out clear data. Trump Jr. says crypto’s nameless nature makes it powerful to hyperlink funds on to politicians.
He added that insiders thanked him for shining a light-weight on the area, not complaining concerning the mission.
Featured picture from AP, chart from TradingView
Editorial Course of for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent evaluation by our crew of high expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
