Trump Family Engaged in Various Cryptocurrency Ventures
"Trump Would Not Have Run for President If He Cared About Money"
"Cryptocurrency could save the US dollar."
Eric Trump, the second son of US President Donald Trump, made this statement, saying that surging global demand for cryptocurrency will attract investment to the United States.
Yonhap News reported on the 18th (local time), citing major foreign media outlets, that Eric made these remarks in an interview on the 16th. He argued that global demand for digital assets would bring trillions of dollars held in what he called "wonky" currencies into the US.
The media noted that his comments came at a time when the value of the dollar has been plummeting. Investor confidence in the dollar as the world's reserve currency has been shaken due to President Trump's trade wars and repeated attacks on the Federal Reserve. In addition, concerns that President Trump's tax cuts will further increase the US fiscal deficit have also dealt a blow to the dollar.
During the last presidential election, President Trump pledged to make the United States the "capital of cryptocurrency." Since his election, the entire Trump family has been rapidly expanding their business interests in the cryptocurrency sector.
The Trump family's cryptocurrency company, World Liberty Financial (WLFI), launched a new coin called "WLFI" earlier this month on major global exchanges, including Binance, Upbit in Korea, and Bithumb.
The Wall Street Journal (WSJ) estimated that with this coin launch, the value of the Trump family's holdings has reached 5 billion dollars (approximately 7 trillion won). As of the end of last year, President Trump alone held 15.75 billion WLFI coins, which are now worth more than 3 billion dollars.
In addition, the Trump family is involved in various cryptocurrency ventures, including two meme coins named after President Trump and his wife Melania, as well as the "Truth Social Bitcoin ETF (Exchange-Traded Fund)."
Eric Trump is also directly involved in Bitcoin-related businesses. He currently holds a stake worth more than 500 million dollars (about 695 billion won) in "American Bitcoin," a Bitcoin mining and holding company founded by the Trump family this year and listed on NASDAQ on the 3rd.
However, Eric emphasized that the financial gains the Trump family receives from cryptocurrency businesses are insignificant. He claimed, "If my father cared about using his life to make money, he would not have run for president. Everything we have done has been to de-monetize our lives."
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