From Real Estate Mogul to Crypto Pioneer: How Eric Trump, Son of U.S. President Trump, Leads the Family's Charge into the Cryptocurrency World

For Eric Trump, who once called himself a "bricks and mortar guy," diving into the abstract world of digital cryptocurrency seemed unimaginable. However, according to a recent interview, it was a "severance" from the traditional financial system that propelled him to become the core evangelist and helmsman of the Trump family's crypto ventures.

"Forced by the Banks": An Unexpected Transformation from Real Estate to Crypto

Eric Trump revealed in the interview that the catalyst for this transformation was the "debanking" crisis that hit the family business in early 2021.

He stated that shortly after the Capitol Hill riots, several banks that had business relationships with the Trump family closed hundreds of accounts belonging to their family enterprises without clear explanations. He believes there were political motivations behind these actions.

"At that moment, I realized how fragile the financial system is and how easily it can be weaponized against you," Eric said. This experience reportedly deeply drove the Trump family's interest in the crypto world—a decentralized realm long viewed by its believers as free from banking control.

Today, the Trump family has established considerable interests across multiple dimensions including Bitcoin mining and cryptocurrency token investments, with one company called World Liberty Financial recently valued at $4.5 billion in equity.

The 41-year-old Executive Vice President of the Trump Organization now stands at the forefront of the family business transformation. He not only manages approximately 25 hotels, golf courses, and commercial real estate projects worldwide but has also devoted significant energy to building the family's crypto portfolio.

A Vast Cryptocurrency Empire

Under Eric Trump's leadership, the Trump family's cryptocurrency empire has rapidly expanded, with business scope covering Bitcoin mining and various cryptocurrency token acquisitions.

The core of this empire is the flagship crypto company World Liberty Financial. The company has launched a token called WLFI and a stablecoin pegged 1:1 to the U.S. dollar.

World Liberty announced in March that it had sold $550 million worth of WLFI tokens to investors, including crypto billionaire Justin Sun.

The Trump family's crypto business also includes American Bitcoin, a Bitcoin mining company formed in partnership with publicly listed Hut 8. Documents show Eric Trump is a co-founder and Chief Strategy Officer of the company, holding a 9.3% stake.

Additionally, the $TRUMP meme coin launched three days before Trump's inauguration saw its market capitalization soar to nearly $15 billion at one point, though it has since fallen significantly, remaining both controversial and influential.

From "Skeptic" to "Evangelist"

Eric, who once shared his father's skepticism about Bitcoin, has now become a firm supporter. Anthony Scaramucci, founder of investment firm SkyBridge Capital and former advisor during Trump's first term, commented: "He's not a casual crypto enthusiast. He's read the Bitcoin white paper and done a lot of homework."

Eric even defends the controversial meme coins, viewing them as "powerful gateways" to attract newcomers into the crypto world.

He envisions: "If I want to refinance Trump Tower, why can't I tokenize that asset and let billions of people worldwide invest in it?"

Caught in a Whirlpool of Conflicts of Interest

However, this massive commercial layout, combined with his father's return to the White House, has raised serious ethical and legal questions.

Norm Eisen, former White House ethics chief during the Obama administration, commented: "This is the very essence of corruption because the person ultimately responsible for regulating this industry (President Trump) has enormous economic interests across multiple dimensions of that industry."

Critics argue that President Trump cannot avoid affecting his own wealth when formulating industry policies.

In response, White House Press Secretary Karoline Leavitt stated that media "continued attempts to fabricate conflicts of interest are irresponsible" and emphasized that "the President and his family have not, do not, and will not engage in any conflicts of interest." Eric Trump himself also stated that his business activities are "completely unrelated" to Washington politics.