US President Donald J. Trump’s son Donald Trump Jr., explaining the reasons for his family to turn crypto money, drew attention to the problems in the financial system. In an interview, Trump JR. claimed that the main reason why the family started to deal with crypto currencies was financial discrimination.
Trump and Crypto Coins
Trump JR., New York banks for political reasons, and therefore they are looking for a financial solution, he added. In the interview, he explains that they could easily get credit in the past, but that the banks no longer want to communicate with them with their entry into politics. This development has removed the family from traditional financial institutions and led to search for alternative ways.
Donald Trump Jr.: “After entering politics, banks no longer respond to our phones. We could not provide financing. Our accounts were closed. At that moment, we realized that the financial system was not actually democratic and that services cannot be used unless there is a certain financial profile.”
Trump Jr. argued that he and his brother faced many consecutive legal action, that they were financially excluded in this process, and that such discrimination was not limited to them. He claimed that many ordinary citizens could not access the system similarly.
Reasons for the transition to crypto money
Trump JR. said that the family’s starting investments in crypto beings was not in order to capture a new technological trend (alone), but that it arises from a completely essential need. The decentralized structure of crypto currencies offered the family the opportunity to evaluate the options other than the traditional financial system. Donald Trump Jr., especially blockchain technology can improve inefficient areas in sectors such as real estate, he said.
Donald Trump Jr.: “We did not turn to the crypto because it is a new trend; we entered this area because of the need.
In his statements, he emphasized that the entrance to the crypto currency sector is directly linked to the personally experienced the excluding structure of the financial system. Transparency and independence provided by crypto currencies gave them financial autonomy. He also pointed out that the processes can be carried out at faster and lower costs by mentioning the potential of Blockchain technology.
Trump Jr. also shared the idea that central barriers in the financial system can be overcome by crypto currencies. He stated that this technology offers more efficiency and an open structure in financial services. He argued that the old structure of the financial system could exclude some people and groups.
This experience of the Trump family is seen as a remarkable example for those who cannot access the traditional financial system, especially for political reasons. Trump JR.’s statements arous the impression that financial technology can provide individuals financial freedom to individuals and the use of alternative financial tools may increase. As a matter of fact, in many countries, political opponents have been using crypto currencies intensively.
Trump Jr.’s narrative reveals that the concerns of security, independence and exclusion of system play a role in the background of interest in digital assets. This experience strengthens the view that crypto currencies can be a solution not only for investors, but also for different segments of the financial system. It is considered that the crypto ecosystem may have impacts that increase financial participation in the future.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
