Trumps second sons crypto business experience

Original author: Bright, Foresight News

Just as 代幣 2049 Dubai was launched, the Trump family made another move.

On the evening of April 29, according to The National, Eric Trump, executive vice president of the Trump Organization, revealed that the Trump Organization will work with Dar Global, a London-listed company, to launch a $1 billion development project in Dubai, which will include a Trump-branded hotel, residential units and a clubhouse. The building will be located at the entrance of downtown Dubai on Sheikh Zayed Road and is expected to be completed within five years. The project will accept payments in 加密貨幣currency. This is not the first property in the Trump familys business in the Middle East, but it is the first building that Trumps second son Eric Trump has directly stated is tied to cryptocurrency.

On April 30, The Block reported that Trump Media and Technology Group plans to launch the Truth Social utility token. The token will be integrated into the Truth digital wallet and will initially be used to pay for Truth+ subscriptions, and will be expanded to other products and services within the Truth Social ecosystem in the future.

The Trump family, which has gained great benefits through political influence in the crypto field, is still expanding its crypto territory. Eric Trump is the crypto pioneer in the Trump family.

A green-light career in crypto

In 2006, Eric Trump graduated from Georgetown University with a bachelors degree in finance and management. In the same year, he joined the Trump Group as executive vice president of development and acquisitions. In 2012, Forbes named Eric Trump one of the 30 Under 30 in the real estate industry. When Trump first took office as US President in 2017, he retained ownership of the Trump Group while handing control of the huge business empire to his eldest son, Donald Jr., and his second son, Eric. There is no rebellious bloody plot, and Eric Trump has been working diligently for the Trump family. And now, as the executive vice president of the Trump Group, Eric Trump is still constantly showing up for the Trump family who bet on encryption.

From Bitcoin MENA Abu Dhabi in 2002 to Token 2049 Dubai in 2005, Eric Trump has been wearing many titles of crypto companies in less than a year. Not only is he an ambassador in World Liberty Financial, a company with direct interests, and the chief strategy officer of the new Bitcoin mining company American Bitcoin, he has also been hired as a consultant by a number of well-known crypto companies such as Japans MicroStrategy Metaplanet.

In fact, becoming an advisor to a crypto giant is just a trivial matter for Eric Trump, who is backed by the Trump family. With the halo of my father is the president, Eric Trump can easily and happily make an appointment with Micheal Saylor to talk at Mar-a-Lago. What really attracted the attention of the outside world was Eric Trumps extremely close attitude towards crypto.

Eric Trump once said in an interview with CNBC. You will find that cryptocurrencies are faster, more pragmatic, more transparent, and much less expensive. Unlike Donald Trump, who is in the presidency, Eric Trump, who is not subject to too many restrictions, is seen as a white glove who directly implements Trumps business will. He also repeatedly called for cryptocurrencies on social media and in public speeches, saying that Bitcoin is one of the greatest means of storing value and now is a good time to bet on cryptocurrencies.

“Now, I know a little bit about almost everyone in this industry,” Eric Trump said. “I fell in love with this industry a few years ago and just dove right in.”

Two-way rush for the benefit of the people

However, Eric Trump, who comes from a business family, has inherited the style of a speculator. Behind his fanatical shouting endorsement, perhaps the Trump family is planning to make more money.

In the traditional financial field, the influence of the US president is still checked and balanced by a relatively complete legal system and financial system, and the intricate Wall Street forces also exert a considerable influence on the White House. In 2022, about two years after the end of President Trumps first term, two subsidiaries of the Trump Group were found guilty by a New York jury of multiple charges, including tax fraud, falsification of business records, and conspiracy. All 17 charges were convicted three weeks after Trump announced his participation in the 2024 election. A Florida bank called Capital One immediately closed more than 300 bank accounts of the Trump Group after the riots at the U.S. Capitol on January 6, 2021.

To this end, before Trump returned to the White House, the Trump Organization announced a new ethics plan, saying it would limit Trumps involvement in management decisions and other business aspects during his presidency. Eric Trump publicly stated that the Trump Organization may be the most restricted company on the planet.

In contrast, the cryptocurrency field, which is on the regulatory boundary and has sufficient liquidity, has become the favorite of the Trump family. The two meme coins Trump and Melania alone have added billions of dollars to the familys book wealth. The Trump family gave up directly taking advantage of the entangled Wall Street forces and entered the crypto field as a protector of financial innovation and a liberator of crypto. Eric Trump publicly stated that his entry into the cryptocurrency field was not a financial bet, but a rebellion. The move began with what he called industry wars. He stated that banks are closing accounts, the US Securities and 交換 Commission is cracking down on trading platforms, and cryptocurrency users are deprived of bank accounts simply for holding cryptocurrencies.

However, during Trumps second term as president, the US crypto sector has indeed been unshackled. The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) previously had very strict reviews of crypto trading platforms and projects, but since Trump took office, the United States has taken a big step forward in crypto regulation, abolishing the Defi Brokers Rule, withdrawing the lawsuit against Xrp, releasing the founder of Silk Road, and so on.

It can be said that in the American political arena where power and money are linked, the Trump family, with the sharp eyes of businessmen, chose the easiest way to get rich.

Legendary reverse order king

However, Eric Trump’s three high-profile calls in 2025 formed a strange causal chain with the sharp decline in the market:

On February 3, Eric posted on the X platform, In my opinion, now is a good time to add $ETH. You can thank me later. At that time, the price of Ethereum was hovering around $2,900, and market sentiment was slightly optimistic due to the Trump familys World Liberty Financial (WLFI) project. However, within 48 hours after the call, the price of ETH plummeted to $2,000, a drop of more than 30%. On-chain data shows that WLFI transferred about $300 million worth of crypto assets to Coinbase Prime on the day of the call, including 66,000 ETH.

On February 25, when the price of Bitcoin rebounded to around $89,000, Eric spoke out again, advising investors to buy BTC on dips and hold it for the long term. As a result, the next day, the price of Bitcoin plummeted to $78,258, a single-day drop of 12%. Lookonchains analysis shows that WLFI sold about 12,000 BTC (about $1 billion) before and after the call, which coincided with the peak of market selling pressure.

On March 2, after the Trump administration announced that it would explore the possibility of using crypto assets as national reserves, Eric quickly followed up and called for long-term holding of cryptocurrencies, the future is decentralized. Even the tweet announcing the national reserve on Trumps X account that day was inseparable from Eric. However, the next day, Ethereum crashed again by 17.5% after rising, and the decline widened to 30% within a week, reaching a low of $1,410. On-chain analysts found that WLFI sold a total of 86,000 ETH (about $235 million) during this period. The huge price difference between the cost price of holdings ($3,354) and the market price ($1,550) once again exposed its embarrassing situation of buying high and selling low. On X, the topic of NeverTrustEric (Never Trust Eric) once exceeded #Bitcoin, and community members began to spontaneously organize the Eric Call Index as an early warning signal of market risks.

For a time, WLFI became the target of market criticism. The book losses caused by the sell-off exceeded hundreds of millions of dollars, and it was suspected that it used derivatives to hedge profits over the counter. WLFIs business model was also criticized again – WLFI has raised $550 million by issuing governance tokens, but token holders only have voting rights and no dividend rights. The official website clearly stated that purchasing tokens should not be for the purpose of profit. This is essentially a capital game that does not need to be responsible to investors. Crypto compliance agency Chainalysis commented that political families use regulatory gray areas to transform social media influence into financial harvesting tools.

However, this does not affect the continued construction of Trump Tower in Dubai. Eric Trump knows that the crypto world needs the political influence of the Trump family, and he will continue to sell it.

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