|

Eric Trump Touts Crypto as Potential Lifeline for the US Dollar

🚀

Eric Trump has claimed that surging demand for cryptocurrencies may “save the US greenback” by drawing world funding flows into America, tying the fortunes of digital belongings to the energy of the nation’s foreign money.

The president’s son and outspoken crypto supporter told the Financial Times this week that the digital belongings growth would funnel “trillions from round the world in wonky currencies” into the US.

He argued that Bitcoin mining and monetary independence may energy “a type of monetary revolution” rooted in America, including, “I feel it arguably saves the US greenback.”

Trump’s remarks got here hours after he rang Nasdaq’s opening bell to have a good time the market debut of American Bitcoin Corp, an organization the place he holds a stake valued at greater than $500m, in response to FT.

The agency emerged earlier this 12 months from a merger between his family-backed American Bitcoin enterprise and Gryphon Digital Mining, and now trades underneath the ticker ABTC.

Weaker Dollar Reflects Fed’s Cautious Easing and Mounting Debt Fears

The feedback land at a time when the US greenback has weakened. President Donald Trump’s commerce battles, alongside together with his frequent clashes with the Federal Reserve, have unsettled traders.

The Fed lower rates of interest on Wednesday for the first time this 12 months, reinforcing considerations over inflation and debt ranges that proceed to strain the buck.

Donald Trump has repeatedly argued for decrease charges since taking workplace, saying the US advantages extra from a weaker foreign money. He has additionally pledged to make America the “crypto capital” of the world and inspired regulators to take a lighter method to digital belongings, fueling document highs in bitcoin and different tokens.

Trump Family Expands Crypto Interests From ETFs to Memecoins and Stablecoins

The Trump household’s pursuits in crypto now span a Truth Social Bitcoin ETF, memecoins named after Donald and Melania Trump, and a stablecoin enterprise tied to Trump Media & Technology Group.

Speaking at the Bitcoin 2025 Asia convention in Hong Kong final month, Eric Trump predicted Bitcoin would inevitably reach $1m. He pointed to mounting demand from governments, companies and rich households. “Everybody desires Bitcoin. Everybody is shopping for Bitcoin,” he mentioned.

Further, Trump forged crypto as a problem to Wall Street. He mentioned he took delight in constructing corporations with out the assist of America’s greatest banks, describing it as “the final revenge towards the massive banks and trendy finance.”

The Trump Organization is at present suing Capital One, alleging it closed its accounts in 2021 for political causes, which the financial institution denies.

He added that crypto has modified perceptions of monetary entry. “You realise you simply don’t want them. And frankly, you don’t miss them,” he mentioned, referring broadly to Wall Street lenders.

Trump Ties to Stablecoins Add Political Weight to Financial Debate

Stablecoins specifically are rising as a flashpoint between crypto and banking. US banking executives have warned they may drain deposits if they provide increased yields than financial savings accounts.

At the similar time, the White House has inspired issuers such as Tether and Circle to purchase US Treasury debt, a transfer seen as key to supporting the bond market as Washington points trillions of {dollars} in new debt every year.

Eric Trump has his personal stake in that pattern. Last 12 months, he co-founded World Liberty Financial Inc, which runs a stablecoin pegged to the US greenback. According to disclosures, his father held greater than 15b WLFI tokens at the finish of 2024, a place price greater than $3b at current costs.

The youthful Trump, nonetheless, downplayed the monetary windfall. “If my father cared about monetizing his life, the final thing he would have completed is run for president, the place all we’ve completed is un-monetize our life,” he mentioned.

The put up Eric Trump Touts Crypto as Potential Lifeline for the US Dollar appeared first on Cryptonews.

Similar Posts