US President Donald Trump’s eldest son, Donald Trump Jr., says his family turned to Bitcoin and crypto after facing banking roadblocks. According to a recent CNBC Squawk Box interview, the Trump Organization suddenly found it hard to borrow money once political winds shifted.
That forced them to look for other ways to keep projects moving. In the interview, Trump Jr. stressed that this move wasn’t about chasing a trend. It was about finding a lifeline when banks stopped answering their calls.
Banking Doors Closed
Trump Jr. said that before his father took office, banks in New York treated the family like any other developer. Loans were easy to get. Deals went through fast. Then, in January 2017, everything changed. Banks stopped returning calls and froze out even long‐standing projects.
“We’re all in on crypto,” says @DonaldJTrumpJR of his family’s ties with stablecoins and $BTC. “We got into crypto not because it was the next cool thing, we got into it out of necessity.”https://t.co/YnJK5JMmBT
— Squawk Box (@SquawkCNBC) June 3, 2025
Based on reports, Trump Jr. said the family couldn’t get basic financing, despite having solid records and valuable real estate. He added that they felt the same hurdles everyday Americans face, from loan denials to high fees.
That shift made him and his brother Eric realize the system wasn’t built to treat everyone fairly. So they started to look beyond traditional finance.
TRUMPUSD trading at $11.20 on the 24-hour chart: TradingView.com
Turning To Crypto
In the same interview, Trump Jr. explained why blockchain caught his eye. He pointed to title insurance, a process that can be slow and expensive. He saw an opportunity to make real estate deals faster and cheaper using crypto tools.
According to Trump Jr., blockchain could speed up basic tasks without middlemen taking big cuts. He said it wasn’t about jumping on a buzzword. It was about finding a way to keep projects alive. He described the decision as a “necessary pivot” after banks slammed the door shut.
Debate Over Meme Coin
The Trump family’s move into crypto also includes a meme coin tied to the Trump name. Trump Jr. said he wasn’t part of that project. He called it a “proof of concept” to show how blocked‐off people can still raise money.
In mid‐January 2025, President Trump launched the TRUMP coin, and Melania Trump rolled out MELANIA. It’s said that Trump‐affiliated groups hold 80% of both coins. That raises questions about influence.
Critics worry that meme coins can let actors send money to those in power without clear records. Trump Jr. says crypto’s anonymous nature makes it tough to link funds directly to politicians.
He added that insiders thanked him for shining a light on the space, not complaining about the project.
Featured image from AP, chart from TradingView
Related Posts
