Don Jr. Grilled by CNBC Hosts About Trump Meme Coin: ‘As Bad as Hunter’s Art’

KERNEN Is that OK ░░░░░░░░ your dad to have ░░░░░░░░ meme coin Trump JR ░░░░░░░░ think listen of course ░░░░░░░░ you know when he ░░░░░░░░ that before he was ░░░░░░░░ office he did these ░░░░░░░░ The reason we got ░░░░░░░░ crypto and we re ░░░░░░░░ in on crypto and ░░░░░░░░ re doing American Bitcoin ░░░░░░░░ we have World Liberty ░░░░░░░░ and USD1 was because ░░░░░░░░ was a time and ░░░░░░░░ I d been on ░░░░░░░░ show SORKIN Yeah Trump ░░░░░░░░ where there was I ░░░░░░░░ call any single banker ░░░░░░░░ New York City they ░░░░░░░░ pick up the phone ░░░░░░░░ d be able to ░░░░░░░░ a loan for whatever ░░░░░░░░ estate project I was ░░░░░░░░ across the street Then ░░░░░░░░ got into politics and ░░░░░░░░ of a sudden they ░░░░░░░░ t take your call ░░░░░░░░ couldn t get financing ░░░░░░░░ were debanked And what ░░░░░░░░ realized and my brother ░░░░░░░░ because we were the ░░░░░░░░ of every subpoena imaginable ░░░░░░░░ that you know what ░░░░░░░░ were actually just the ░░░░░░░░ of this sort of ░░░░░░░░ scheme that we didn ░░░░░░░░ realize we were a ░░░░░░░░ of that the financial ░░░░░░░░ was totally undemocratized because ░░░░░░░░ had a certain balance ░░░░░░░░ and whatever we could ░░░░░░░░ of do whatever we ░░░░░░░░ The regular guy was ░░░░░░░░ up Now we were ░░░░░░░░ of a sudden in ░░░░░░░░ shoes of the regular ░░░░░░░░ that wouldn t be ░░░░░░░░ to take advantage of ░░░░░░░░ markets And we said ░░░░░░░░ s the solution for ░░░░░░░░ The answer is crypto ░░░░░░░░ decentralized platforms where you ░░░░░░░░ not beholden to this ░░░░░░░░ you create efficiencies as ░░░░░░░░ guy that did real ░░░░░░░░ you know why am ░░░░░░░░ paying points in and ░░░░░░░░ for title insurance that ░░░░░░░░ be done on the ░░░░░░░░ So we got into ░░░░░░░░ not because it was ░░░░░░░░ Hey this is the ░░░░░░░░ cool thing We got ░░░░░░░░ it out of necessity ░░░░░░░░ got into it because ░░░░░░░░ understood just how quickly ░░░░░░░░ could be turned off ░░░░░░░░ as an incredible developer ░░░░░░░░ New York I mean ░░░░░░░░ don t think anyone ░░░░░░░░ argue that we didn ░░░░░░░░ change the skylight of ░░░░░░░░ York City but that ░░░░░░░░ in an instant I ░░░░░░░░ we re getting sued ░░░░░░░░ New York State AG ░░░░░░░░ a billion dollar fees ░░░░░░░░ paying back loans on ░░░░░░░░ with interest These aren ░░░░░░░░ fair markets There s ░░░░░░░░ egalitarian about any of ░░░░░░░░ So we actually as ░░░░░░░░ as people who understand ░░░░░░░░ things we went all ░░░░░░░░ on a concept that ░░░░░░░░ total sense because we ░░░░░░░░ actually been the recipient ░░░░░░░░ how quickly that can ░░░░░░░░ shut off And so ░░░░░░░░ actually makes total sense ░░░░░░░░ Trump Organization isn t ░░░░░░░░ anything with foreign countries ░░░░░░░░ first time around in ░░░░░░░░ administration we actually stopped ░░░░░░░░ all foreign deals And ░░░░░░░░ the Bidens we were ░░░░░░░░ doing international business before ░░░░░░░░ got into politics SORKIN ░░░░░░░░ So here is my ░░░░░░░░ though Trump JR But ░░░░░░░░ me finish We stopped ░░░░░░░░ those things And the ░░░░░░░░ still says oh they ░░░░░░░░ profiteering off of this ░░░░░░░░ re doing that We ░░░░░░░░ zero credit We shut ░░░░░░░░ hundreds of millions of ░░░░░░░░ of business to voluntarily ░░░░░░░░ say just in case ░░░░░░░░ now what we re ░░░░░░░░ to do we re ░░░░░░░░ to play by all ░░░░░░░░ the rules We re ░░░░░░░░ to do what we ░░░░░░░░ allowed to do But ░░░░░░░░ got zero credit for ░░░░░░░░ so far above and ░░░░░░░░ because you know that ░░░░░░░░ the nature of this ░░░░░░░░ It s a market ░░░░░░░░ I get it It ░░░░░░░░ click worthy It s ░░░░░░░░ SORKIN So let me ░░░░░░░░ a question about the ░░░░░░░░ coin OK You may ░░░░░░░░ believe this I want ░░░░░░░░ father and this White ░░░░░░░░ to have all the ░░░░░░░░ in the world And ░░░░░░░░ people are always going ░░░░░░░░ question whatever any president ░░░░░░░░ but one of the ░░░░░░░░ that people do demonstrably ░░░░░░░░ they say this meme ░░░░░░░░ that your father has ░░░░░░░░ the opportunity for foreign ░░░░░░░░ people in the U ░░░░░░░░ anybody that they want ░░░░░░░░ effectively funnel money to ░░░░░░░░ president crosstalk KERNEN It ░░░░░░░░ as bad as Hunter ░░░░░░░░ Art or the Clinton ░░░░░░░░ with her getting back ░░░░░░░░ the White House It ░░░░░░░░ seems like a way ░░░░░░░░ greases the skids for ░░░░░░░░ Trump JR I think ░░░░░░░░ I think the meme ░░░░░░░░ you don t know ░░░░░░░░ s actually doing any ░░░░░░░░ these things right So ░░░░░░░░ know we ve never ░░░░░░░░ it before SORKIN And ░░░░░░░░ but that s one ░░░░░░░░ the things that has ░░░░░░░░ crosstalk KERNEN It s ░░░░░░░░ because it s hard ░░░░░░░░ influence if you don ░░░░░░░░ actually know where the ░░░░░░░░ s coming from right ░░░░░░░░ I wasn t involved ░░░░░░░░ the meme coin I ░░░░░░░░ more focused on obviously ░░░░░░░░ stable coin the Bitcoin ░░░░░░░░ you know some of ░░░░░░░░ things But you know ░░░░░░░░ reality is I think ░░░░░░░░ lot of these things ░░░░░░░░ Trump JR You re ░░░░░░░░ taking responsibility for the ░░░░░░░░ coin KERNEN Well no ░░░░░░░░ m just saying the ░░░░░░░░ of the meme coin ░░░░░░░░ it s sort of ░░░░░░░░ proof of concept that ░░░░░░░░ crypto world understands exactly ░░░░░░░░ I was talking about ░░░░░░░░ that the markets may ░░░░░░░░ necessarily be fair The ░░░░░░░░ banking system may not ░░░░░░░░ fair to them So ░░░░░░░░ s a proof of ░░░░░░░░ of what I think ░░░░░░░░ can move the needle ░░░░░░░░ crypto And I think ░░░░░░░░ s going to be ░░░░░░░░ future of finance It ░░░░░░░░ going to be the ░░░░░░░░ of banking almost without ░░░░░░░░ If we can accelerate ░░░░░░░░ process by going all ░░░░░░░░ on it I m ░░░░░░░░ m for it SORKIN ░░░░░░░░ you ve heard from ░░░░░░░░ in the crypto industry ░░░░░░░░ imagine some of your ░░░░░░░░ who ve said that ░░░░░░░░ of these coins and ░░░░░░░░ s happening may undermine ░░░░░░░░ little bit of what ░░░░░░░░ happening because people are ░░░░░░░░ it right Trump JR ░░░░░░░░ I have not heard ░░░░░░░░ from anyone actually What ░░░░░░░░ hear from those people ░░░░░░░░ like thank you for ░░░░░░░░ this You re giving ░░░░░░░░ the legitimacy that we ░░░░░░░░ for for so long ░░░░░░░░ this isn t just ░░░░░░░░ conservative issue Joe I ░░░░░░░░ these are highly libertarian ░░░░░░░░ You know this is ░░░░░░░░ one of those 50 ░░░░░░░░ holders of some sort ░░░░░░░░ crypto whether it s ░░░░░░░░ stables ETH SALT whatever ░░░░░░░░ may be There s ░░░░░░░░ million in America and ░░░░░░░░ re not all right ░░░░░░░░ These are people who ░░░░░░░░ believe in freedom They ░░░░░░░░ seen what s happening ░░░░░░░░ they re looking for ░░░░░░░░ corollary and a response ░░░░░░░░ I got one more ░░░░░░░░ you Trump JR Mm ░░░░░░░░ SORKIN which goes to ░░░░░░░░ you believe if you ░░░░░░░░ in the U S ░░░░░░░░ which I think we ░░░░░░░░ want to believe in ░░░░░░░░ JR Mm hmm SORKIN ░░░░░░░░ we think that crypto ░░░░░░░░ in particular but crypto ░░░░░░░░ large can ultimately undermine ░░░░░░░░ Trump JR Actually I ░░░░░░░░ the opposite When you ░░░░░░░░ at what s going ░░░░░░░░ with so many of ░░░░░░░░ stable coins and as ░░░░░░░░ create utility and those ░░░░░░░░ happen what we re ░░░░░░░░ with USD1 it s ░░░░░░░░ one to one backed ░░░░░░░░ the U S treasuries ░░░░░░░░ you look at some ░░░░░░░░ these big you know ░░░░░░░░ coins they re literally ░░░░░░░░ of the biggest buyers ░░░░░░░░ U S treasuries KERNEN ░░░░░░░░ Trump JR in the ░░░░░░░░ replacing a lot of ░░░░░░░░ countries that would have ░░░░░░░░ traditionally doing that So ░░░░░░░░ we want to keep ░░░░░░░░ and spending the way ░░░░░░░░ do for some of ░░░░░░░░ I don t necessarily ░░░░░░░░ with all of that ░░░░░░░░ like I think these ░░░░░░░░ coins are actually going ░░░░░░░░ be the savior of ░░░░░░░░ hegemony in the world ░░░░░░░░ a detractor from it ░░░░░░░░ think that goes without ░░░░░░░░ If you look at ░░░░░░░░ you know companies like ░░░░░░░░ I think they re ░░░░░░░░ fourth largest holder of ░░░░░░░░ S treasuries in the ░░░░░░░░ SORKIN Right Trump JR ░░░░░░░░ we re going to ░░░░░░░░ with USD1 I mean ░░░░░░░░ is billions and billions ░░░░░░░░ dollars of treasuries that ░░░░░░░░ countries who have not ░░░░░░░░ been good actors or ░░░░░░░░ have taken advantage of ░░░░░░░░ things over the years ░░░░░░░░ have said they re ░░░░░░░░ to back away from ░░░░░░░░ try to create their ░░░░░░░░ kind of currency to ░░░░░░░░ sort of you know ░░░░░░░░ petrodollar whatever it may ░░░░░░░░ I think stable coins ░░░░░░░░ be the savior of ░░░░░░░░ S. currency.”