Donald Trump Jr. has defended his family’s involvement in cryptocurrency, distancing himself from the $TRUMP meme coin while highlighting their broader foray into stablecoins and bitcoin mining.
The Trump Organization controls 80% of the $TRUMP token, which was launched before President Donald Trump’s return to office. The coin has seen significant price swings, including a market cap of $15 billion. However, the project creators still profit from ongoing activity through blockchain analytics firm Chainalysis.
Trump Jr. acknowledged concerns over potential influence peddling or foreign capital flows but framed blockchain anonymity as a mitigating factor. He emphasized that it’s difficult to track individuals’ involvement in cryptocurrency transactions, making it harder to exploit for influence.
The Trump family’s entry into cryptocurrency was driven by necessity after being frozen out of the traditional banking system. They now explore decentralized alternatives “out of necessity,” according to Trump Jr. The family’s stablecoin initiative, USD1, aims to be fully backed by US Treasuries and support US financial dominance.
According to Chainalysis, over $324 million in trading fees were routed to wallets tied to the project’s creators between January and April. The token’s code automatically directs a cut of each transaction to these addresses, allowing the team to profit from ongoing activity.
Trump Jr. also highlighted the benefits of stablecoins like USD1, which could support US financial dominance by replacing countries that traditionally buy US Treasuries with crypto firms.
Source: https://www.cnbc.com/2025/06/03/donald-trump-jr-meme-coin.html