Eric Trump, the son of US President Donald Trump, announced that the Trump family embraced the world of cryptocurrencies after they were unceremoniously “debanked” following the Capitol attack incident in early 2021. 🏛️➡️₿
It seems that several banks decided to play a game of financial hot potato, shutting down hundreds of bank accounts associated with The Trump Organization without offering any substantial explanation. Trump shared this tale of woe with The Wall Street Journal, explaining that the family had to scramble, relying on regional banks before eventually settling into a new, mysteriously unnamed bank. 🤷♂️🏦🔍
“At that moment, I had an epiphany about the fragility of our financial system and how easily it can be turned into a weapon against you,” Trump mused, with a hint of existential dread. 🤔💥
The American businessman attributed this financial exile to purely political machinations, suggesting that the Biden administration was subtly pressuring crypto companies to stay away from traditional banking services. Industry insiders whispered similar tales of regulatory pressure, adding a layer of conspiracy to the saga. 🕵️♂️🔒💸
“The system was weaponized against them, just as it had been weaponized against us for entirely different reasons.”
Not content with just feeling aggrieved, The Trump Organization decided to fight back. In March of this year, they filed a lawsuit against Capital One, alleging that the bank had closed their accounts for political reasons, causing significant financial damage. 💥💰⚖️
A month later, Trump issued a bold prophecy: banks must embrace crypto or face obsolescence within a decade. A bit dramatic, perhaps, but when you’re facing the end of the world, why not? 🌍💥
Despite this, some observers noted that banks continue to enforce operation chokepoints, closing accounts held by crypto firms. It’s like trying to hold back the tide with a broom, but hey, they’re giving it a shot. 🌊🧹
Eric Trump also seized the opportunity to champion the tokenization of real-world assets. “Why is it that if I wanted to refinance Trump Tower, I can’t just tokenize this asset and offer it to billions of people worldwide to invest in it?” he pondered, clearly envisioning a future where everything is a token. 🏢🌐💡
Trump Family’s Growing Ties to Crypto
The Trump family’s involvement in the crypto world has become a source of both fascination and criticism. Critics argue that they’ve used their connections to enrich themselves, a charge the family vehemently denies. 🙅♂️💸🌟
This includes the launch of Trump’s official memecoin, TRUMP, just days before he was inaugurated as the 47th US President. It’s like the ultimate pre-presidential flex. 💪🔥
On September 16, 2024, World Liberty Financial was born, offering the USD1 stablecoin. The website proudly lists Donald Trump as Co-Founder Emeritus, while his three sons are listed as co-founders. It’s a family affair, through and through. 👪💼🌐
Meanwhile, Trump’s sons, Donald Trump Jr. and Eric Trump, are the brains behind American Bitcoin, a subsidiary of Hut 8, which managed to raise a staggering $220 million to purchase Bitcoin and Bitcoin mining equipment. That’s more money than you can shake a stick at. 💰BitcoinBTC💰
According to an August 11 report, Donald Trump has reportedly amassed a fortune of $2.4 billion from his crypto ventures. Not bad for a side hustle. 🤑📊🚀
Eric Trump dismissed the notion that the family has profited from his father’s presidency, and even hinted at the possibility of a Trump family member running for the presidency in 2028. It’s a Trump world, we’re just living in it. 🌎DonaldTrumpDonaldTrumpDonaldTrump
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2025-08-25 09:34