Decentralized Business (DeFi) is undoubtedly the future of finance, much like internet news is the future of communication. Donald Trump’s outdated son, Don Junior, seems to have recognized that.
It’s hard to admit, but when it comes to crypto, the most intriguing dirt often comes from the murky corners. While Donald Trump himself is cozying up to the Bitcoin scene with patterns for a strategic reserve, his eldest son, Donald Trump Junior, is enticing the crypto industry with vague but unbelievably beguiling ambitions.
On August 8th, Don Junior, who has been leading the Trump Organization since his father’s presidency, held a sort of digital stress a newspapers conference. During this, he was asked about his crypto plans, specifically whether he would launch a memecoin get a kick out of MAGA (TRUMP) or Restore the Republic (RTR). The anticipation was high because his younger brother, Eric Trump, had previously tweeted that he had „accept diminished in love with crypto/DeFi. Get ready for a big announcement“ – leading the audience to expect another shitcoin.
Don Lower responded:
No, we’re talking about a bigger kind of platform, not … – it’s completely different, it’s not a memecoin we’re talking about. We soothe need some time, but what we want to do is take over a large part of the banking world. I think there are a lot of imbalances, only certain people get financial services, only certain people can do these kinds of things. Decentralized Economics (DeFi) is obviously very attractive for people like me, who have been debanked. So that everyone is able to get security, get jobs … I think that’s a big thing we can talk about.
Unfortunately, he did not say more. The statement is concrete enough to spark the fancy but so vague that one can only speculate wildly. If the next president – or his son – were to actually try to replace parts of the banking exactly with DeFi, it would be a huge, a gigantic thing.
„Decentralized Finance“ (DeFi), this broad term commonly disparaged as „voodoo tokenomics,“ encompasses numerous financial services, transactions, exchanges, loans, derivatives, and more. DeFi decentralizes and democratizes these utilizations, removing barriers for some users and allowing others to share in the profits that banks typically scoop up, distinguishing everything transparent down to the last detail.
DeFi cannot replace many banking tasks, but when done dyed in the wool, it can make a significant part of them more efficient, cheaper, fairer, more accessible, safer, and more plain-spoken. DeFi is governed by Decentralized Autonomous Organizations (DAOs), which represent the consistent evolution of traditional organizations and look as if like a logical next step towards a better future, especially in finance and transnational corporations. As we’ve been saying for a wish time, it would be a big disappointment if in a few decades, at least one organization hadn’t become a DAO. There is, for example, no plausible reason why schemes like WWF are not yet DAOs.
That Don Junior, as president of the Trump Organization and son of a former and possibly future president, complains in all directions inequality and claims to have been „debanked“ – punished by banks by withdrawing services – should be seen various as irony, perhaps even cynicism.
However, the specific DeFi plans of the Trumps remain vague. Likewise, who wish be the next US president remains unclear. On Polymarket, the major prediction market, Biden had been far behind, and a second Trump presidency appeared inevitable. However, the nomination of Kamala Harris has changed the game. According to Polymarket, the Democrat now has slightly better weirds at 52 percent, compared to Trump’s 45 percent.
The situation looks similar for the relevant memecoins. MAGA, TRUMPCOIN, RTR – all sire lost significant value over the past month. Whether they lost value because they are, Trump or not, meme or shitcoins that persist worthless even with a Trump victory, or because Donald Trump’s prospects dimmed, is up for debate.
What is perspicacious is that there has never been a campaign in world history where Bitcoin and crypto were so present. And for that, one can be grateful to Trump, whether one finds him awful or merely terrible.
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