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However, the cryptocurrency sector poses different challenges. President Trump and First Lady Melania Trump introduced meme coins just before the new term, significantly increasing the family’s wealth.
Eric Trump and his older brother Donald Trump Jr. are aiming for even greater success. They recently announced their intention to launch a U.S. dollar–backed stablecoin under their new venture, World Liberty Financial, as well as a newbitcoin mining operation named American Bitcoin, co-founded with Hut 8 CEO Asher Genoot.
Eric Trump characterized his move into the crypto realm not simply as a financial gamble but as a form of resistance, initiated amid what he refers to as the industry’s “war.” He noted that banks were shutting down accounts, the SEC was intensifying scrutiny on exchanges, and crypto users faced “debanking” simply for holding coins.
“They were targeting individuals,” he remarked. “They were initiating lawsuits against everyone. Banks were terminating customers who merely wished to own bitcoin.”
It was during this turbulent period that Eric Trump began networking with individuals who shared his passion for cryptocurrency.
“At this point, I’m familiar with nearly everyone in the crypto sector in some capacity,” he shared. “I developed a fondness for the industry a few years back and fully immersed myself in it.”
Through World Liberty Financial, the Trump brothers are supporting a stablecoin initiative aimed at rivaling competitors like Tether. When asked how their project would differentiate itself in a saturated market, Eric Trump replied, “We’ll execute it better, cheaper, and faster, and we’ll approach it with a lot of passion.”
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