Trump Jr Insists 'You Don't Know' Who Really Buys Memecoin Despite His Dad Hosting Dinner With Top Holders Weeks Ago

Donald Trump Jr. insisted "you don't know" who's behind memecoin, downplaying influence concerns, even as his father, President Donald Trump, hosted a private dinner with top holders.

The controversy centers on a cryptocurrency launched earlier this year, which ethics experts say opens the door for anonymous donors to funnel money without oversight.

While the president publicly aligned himself with the project, Trump Jr. attempted to distance himself from it during a CNBC interview Tuesday, insisting he wasn't involved and instead focused on ventures like stablecoins and Bitcoin mining.

"One of the things people question ... say the memecoin your father has, creates the opportunity for foreign adversaries, people in the U.S. or anybody to effectively funnel money to the president," CNBC journalist Andrew Ross Sorkin prompted.

"I think the memecoin, you don't know who's actually doing any of these things," Trump Jr. defended. "It's different because it's hard to influence if you don't know where the stuff is coming from."

Trump Jr. defended his family's broader involvement in crypto by describing their pivot to decentralized finance as a response to being "de-banked" after his father's presidency. He said that crypto offered freedom from what he called an unfair traditional financial system and dismissed concerns about the memecoin as media-driven hysteria.

However, he avoided directly addressing why Trump met with top holders in late May or what influence they might have. Those who attended the meeting later reportedly revealed plans to attempt to sway U.S. financial policy.

With the campaign season heating up and crypto policy becoming a bigger issue in Washington, the Trump family's ties to the memecoin are likely to face continued scrutiny.