In the past, President Donald Trump was highly critical of digital currencies.
But during his second presidency, Trump is wholeheartedly embracing them, including memecoins.
The president’s oldest son, GOP activist Donald Trump Jr., defended his father’s embrace of crypto technology during a Tuesday, May 3 appearance on CNBC’s “Squawk Box.”
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Don Jr. claimed that the Trump family got into crypto because it was “debanked.” And when he was asked if a Trump-related memecoin gave foreign governments a chance to inappropriately funnel money to the president, he seemed unsure how to respond and told hosts Joe Kernen and Andrew Ross Sorkin, “I think, well. I think, the meme coin. You — you don’t know who’s actually doing any of these things, right? It’s different because it’s hard to influence if you don’t actually know where the stuff’s coming from, right?”
The interview is generating a lot of discussion on X, formerly Twitter.
The Daily Caller highlighted Don Jr.’s comments, “We were debanked…. We got into crypto not because it was the next cool thing. We got into it out of necessity. We got into it because we realized how quickly we could be turned off.” And X user @SpeakTruthAndRH responded, “Which is why government getting into it is a terrible idea.”
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Protest Against Fascism weighed in on Don Jr.’s “debanked” comment, posting, “‘Debanked’ refers to the situation where a bank closes a customer’s account or withdraws its banking services. This can happen for various reasons, including perceived financial, legal, regulatory, or reputational risks. It can also occur due to the bank following compliance with anti-money laundering and anti-terrorism financing laws, or simply because the customer is deemed unprofitable. #Donnie2Dolls Trump Crime Family & Friends.”
X user Wade David commented, “The Whole Family is Guilty of Everything you Described!
Journalist Aaron Rupar observed, “Trump’s coup attempt is a punchline during CNBC’s interview with Don Jr.
Democratic activist Jim Fortner tweeted, “Why does @CNBC believe Don Jr can add to any conversation especially about ‘business’. He is always in rant mode and with the constant #MAGAMoron parade they are providing, CNBC is nothing more than a propaganda outlet.”
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Watch the interview at this Daily Beast link (subscription required).
