Eric Trump said his family was “the most canceled company, probably on Earth”.
It was then.
With his father, President Donald TrumpBack in the White House, he sees a new money opportunity.
“This is actually what pushed us to cryptocurrency,” said the president’s son said to CNBCReferring to the latest business efforts of the Trump family. “You realize that the cryptocurrency was much faster, it was much more pragmatic, it was much more transparent, it was exponentially cheaper.”
In 2022, about two years after the end of President Trump’s first term, two Trump organization subsidiaries were sentenced By a jury in New York of multiple crimes, in particular tax fraud, the falsification of commercial files and the conspiracy. The guilt verdicts on the 17 charges charged occurred three weeks after Trump’s declaration His candidacy in 2024.
Last month, the Trump organization heard Capital One In Florida, he allegedly “without justice” more than 300 of the company’s bank accounts after January 6, 2021, Riot at the American Capitol. The trial said that Capitol One acted on “underestimated” “” woken up “convictions that he needed to distant President Trump and his conservative political opinions”.
Before Trump’s return to the White House, the Trump organization unveiled a new ethical plan That said, this would limit the president’s participation in management decisions and other aspects of the company while it is in office.
President Donald Trump (2R), flanked by the US Secretary of Commerce Howard Lunick (L), the US Treasury Secretary Scott Bessent (2L) and the AI of the White House and the Czar Czvid Sacks (R), attends the White House crypto-syst in Washington, DC, March 7, 2025.
Jim Watson | AFP | Getty images
But crypto is another matter. President Trump and First Lady Melania Trump launched Corners Just before the new quarter, adding billions of dollars in paper wealth to the net value of the family.
Eric Trump and his older brother Donald Trump Jr. become even bigger. They recently announced its intention to launch Stable coin for an American dollar through their new company, World Liberty Financial and a new bitcoin Mining Company called American Bitcoin, co-founded with Chet 8 CEO Asher Genoot.
Eric Trump described his entry into the crypto not as a financial bet, but as a form of resistance, and said that this decision had started during what he called “war on industry”. Banks closed the accounts, the SEC reprimanded the exchanges and users of crypto were “unlocked” for simply holding parts, he said.
“They were going after people,” he said. “They were continuing everyone. Banks closed people who just wanted to have Bitcoin.”
It was then that Eric Trump said that he had started to associate with people sharing the same ideas in and around the crypto.
“At this point, I know almost everyone in the industry in a way or a form or form,” he said. “I fell in love with the industry, you know, a few years ago, and I really plunged.”
At World Liberty Financial, the Trump brothers support a stablecoin game aimed at competing with players like Tether. Eric Trump had no specific response when asked how the project would stand out in a crowded field, saying only: “We are going to do it better, cheaper, faster, and we will do it with great passion.”
Mea during this time, he works with Genoot to stand with American Bitcoin, a new mining company that aims to evolve quickly, and perhaps be published public.
Genoot told CNBC that he had connected Trump children by mutual friends and had started to exchange stories on their way to crypto, which led to a commercial alliance.
Genoot said that the company is separated from the wider platform for Hut 8 artificial energy and artificial intelligence infrastructure.
“We actually discover the majority of our assets,” said Genoot. “We put them in American Bitcoin.”
Eric Trump, who is co-founder and director of strategy of American Bitcoin, said that “each sophisticated country uses its excess of power to exploit bitcoin”.
Although his family is closely linked to the pro-Crypto position of the current administration, Eric Trump said that he had no role in politics and no contact with the White House. The presidency of his father was strongly funded by the cryptography industry and, since his return to the White House, President Trump has rewarded his supporters, signing a executive decree to create a strategic bitcoin reserve, and Tooning the creator of the Ross Ulbricht silk road as well as the three co-founders of Bitmex Crypto Exchange.
“I have nothing to do with the government, and frankly, I don’t want to have anything to do with the government,” said Eric Trump.
But he clearly indicated that the United States needed a regulatory framework that allows crypto to thrive.
“You’d better believe that China is working very hard. The whole Middle East is very hard,” he said. “We have won the space race. We will better win the crypto race.”
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