{"id":35780,"date":"2025-09-18T10:11:03","date_gmt":"2025-09-18T10:11:03","guid":{"rendered":"https:\/\/financialrush.com\/?p=35780"},"modified":"2025-09-18T10:11:03","modified_gmt":"2025-09-18T10:11:03","slug":"eric-trump-says-crypto-can-save-the-us-dollar","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=35780","title":{"rendered":"Eric Trump says crypto can \u2018save the US dollar\u2019"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=0d40abd6-70e3-4332-80e4-aa852cb9f026&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Eric Trump has said growing demand for cryptocurrencies could \u201csave the US dollar\u201d by attracting investment flows from around the world into America.<\/p>\n<p>The president\u2019s son, a prominent <a href=\"https:\/\/www.ft.com\/crypto\" data-trackable=\"link\">crypto<\/a> advocate, told the Financial Times that the digital assets boom would channel \u201ctrillions\u2009.\u2009.\u2009.\u2009from around the world in wonky currencies\u201d towards the US.<\/p>\n<p>\u201cMining bitcoin here, and being financially independent and running a kind of financial revolution [out] of the United States of America\u2009.\u2009.\u2009.\u2009I think it arguably saves the US dollar,\u201d <a href=\"https:\/\/www.ft.com\/stream\/1e79202d-3a22-4147-be3e-b06e5d83d83a\" data-trackable=\"link\">Trump<\/a> said.<\/p>\n<p>He was speaking on Tuesday hours after ringing Nasdaq\u2019s opening bell to celebrate this month\u2019s market debut for crypto company <a href=\"https:\/\/www.ft.com\/content\/9b442428-b2cc-44da-9f52-aa73babc6228\" data-trackable=\"link\">American Bitcoin<\/a>, where he has a stake worth more than $500mn.<\/p>\n<p>Trump\u2019s comments come after the US dollar has fallen sharply this year as President Donald Trump\u2019s trade war and his repeated attacks on the Federal Reserve \u2014 which on Wednesday cut interest rates for the first time this year \u2014 shake investors\u2019 faith in the world\u2019s de facto reserve currency.<\/p>\n<p>The US currency has also been hit by concerns over America\u2019s debt pile, which is expected to swell further as a result of President Trump\u2019s landmark tax bill.<\/p>\n<p>The president has argued for sharply lower interest rates since he took office and previously said \u201cyou make a hell of a lot more money with a weaker dollar\u2009.\u2009.\u2009.\u2009than you do with a strong dollar\u201d.<\/p>\n<p>He has also vowed to make America the \u201ccrypto capital\u201d of the world and encouraged a light-touch regulatory environment for digital assets that has propelled bitcoin and other tokens to record highs.<\/p>\n<p>The Trump family\u2019s crypto interests span a Truth Social Bitcoin ETF, two memecoins and a bitcoin treasury venture attached to Trump Media &amp; Technology Group.<\/p>\n<p>Eric Trump defended the launch of the <a href=\"https:\/\/www.ft.com\/content\/7782f730-3ff2-4a8e-a071-5de8536d382e\" data-trackable=\"link\">$MELANIA<\/a> and $TRUMP memecoins earlier this year as a bit of \u201cfun\u201d.<\/p>\n<p>\u201c[People] want to bet on a coin, or they want to bet on a player. They want to bet on a celebrity, or they want to bet on a famous brand. Or they just love somebody to death, and they want to buy, you know, a kind of small piece of them, via digital currency.\u201d<\/p>\n<p>He added he had taken pride in setting up several crypto-related companies without the help of some of America\u2019s premier financial institutions.<\/p>\n<p>\u201cIt\u2019s almost like the ultimate revenge against the big banks and modern finance,\u201d he said, months after the Trump Organization sued Capital One, alleging its accounts there were closed in 2021 for political reasons, which the bank denies.<\/p>\n<p>\u201cYou realise you just don\u2019t need them. And frankly, you don\u2019t miss them,\u201d he added.<\/p>\n<p>Trump said he was referring to \u201call\u201d of Wall Street\u2019s biggest lenders as well as their \u201ctop people\u201d.<\/p>\n<p>US banking executives fear that stablecoins, a form of digital cash usually pegged one-for-one against the dollar, <a href=\"https:\/\/www.ft.com\/content\/7c4746d7-02e8-4c60-a96c-b51eb21a7bf1\" data-trackable=\"link\">could suck money away<\/a> from the traditional banking system if they offer better yields.<\/p>\n<p>White House officials hope stablecoin issuers including <a href=\"https:\/\/www.ft.com\/content\/f2329769-6bbc-489b-9a98-d9bbf7addf6f\" data-trackable=\"link\">Tether<\/a> and Circle, emboldened by the first major crypto regulation passed by Congress in July, will step in to buy a large slice of the trillions of dollars worth of bonds the Treasury issues each year. Stablecoin operators collect interest income on those holdings.<\/p>\n<p>Eric Trump last year co-founded World Liberty Financial Inc (WLFI), a crypto venture backed by his family that runs a stablecoin called USD1, which is pegged to the US dollar. <\/p>\n<p>The president held 15.75bn separate WLFI tokens at the end of 2024, according to financial disclosures, which at Wednesday\u2019s trading price would be worth more than $3bn.<\/p>\n<p>Eric Trump played down the financial benefits to the family from its crypto interests.<\/p>\n<p>He said: \u201cIf my father cared about monetising his life, the last thing he would have done is run for president, where all we\u2019ve done is un-monetise our life.\u201d<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/0d40abd6-70e3-4332-80e4-aa852cb9f026\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington,&hellip;\n","protected":false},"author":5,"featured_media":35781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-35780","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35780"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/35781"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}