Trump's second son's crypto business

Author: Bright, Foresight News

Just as Token2049 Dubai, the Trump family took action again.

On the evening of April 29, Trump Group executive vice president Eric Trump Trump revealed that Trump Organisation will work with London-listed company Dar Global to launch a $1 billion development in Dubai that will include a Trump-branded hotel and residential units and clubhouses, according to The National. The building will be located at the entrance to Dubai city centre of Sheikh Zayed Road and is expected to be completed within five years. And the project will accept payments in cryptocurrency. This is not the first real estate in the Middle East business territory of the Trump family, but it is the first building directly expressed by Trump's second son Eric Trump.

On April 30, Trump Media and Technology Group plans to launch Truth Social utility tokens, according to The Block. The token will be integrated into the Truth Digital Wallet, which will be used to pay for Truth+ subscription fees in the initial stage, and will be expanded to other products and services within the Truth Social ecosystem in the future.

The Trump family, who have tasted great benefits through political influence in the crypto field, are still continuing to expand their crypto territory. And Eric Trump is like the encryption "pioneer" in the Trump family.

A green light crypto career

In 2006, Eric Trump graduated from Georgetown University with a bachelor’s 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 as one of the 30 people under the age of 30. When Trump first took office as U.S. president in 2017, he retained ownership of the Trump group while handing over control of the huge business empire to his eldest son, Donald Jr. and Eric. There is no rebellious bloody plot, Eric Trump has been diligent in doing things for the Trump family. And now, Eric Trump, as the executive vice president of the Trump Group, is still constantly showing off for the Trump family that is betting on crypto.

From Bitcoin MENA in Abu Dhabi in 24 years to Token2049 Dubai in 25 years, Eric Trump was covered with the title of crypto company in less than a year. Not only did he serve as ambassador in the direct stakeholder World Liberty Financial and chief strategy officer in the new Bitcoin mining company American Bitcoin, he was also hired as a consultant by a number of well-known crypto companies such as Japan's "microstrategy" Metaplanet.

In fact, becoming an adviser to the crypto giant is just a small matter for Eric Trump, who is backed by the Trump family. With the halo of "My dad is the president", Eric Trump can easily and happily meet Micheal Saylor to talk at Mar-a-Lago. What really attracted the attention of the outside world is Eric Trump's attitude towards encryption.

Eric Trump once said in an interview with CNBC. "You will find that cryptocurrencies are faster, more pragmatic, more transparent, and much lower cost." Unlike Donald Trump, who is in the throne of president, Eric Trump, who is not subject to too many restrictions, is regarded as a "white glove" to directly implement Trump's business will. He also repeatedly called for encryption in his speeches on social media and public occasions, saying that "Bitcoin is one of the greatest means of value storage" and that "now is a good time to bet on cryptocurrencies."

"Now, I know more or less a little about almost everyone in this industry," Eric Trump said. "I fell in love with this industry a few years ago and then I went in."

" Two-way rushing" of interests

However, Eric Trump, a businessman family, inherited the style of a speculative. After its endorsement of "crazy shouting orders", perhaps more of the Trump family's further plans to attract money.

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

To this end, before Trump returns to the White House, the Trump Group unveiled a new ethics plan that said it would restrict Trump from participating in management decision-making and other business aspects during his presidency. Eric Trump publicly stated that the Trump Group "may be the most restricted company on the planet."

In contrast, the cryptocurrency field that wanders around regulatory boundaries and is well-liquidized has become the favorite of the Trump family. The Trump and Melania alone have added billions of dollars in book wealth to the family. The Trump family gave up taking advantage of the complicated Wall Street forces, but instead broke into the crypto field with the attitude of protecting financial innovation and crypto liberators. Eric Trump publicly stated that his entry into the cryptocurrency space was not a financial bet, but a rebellion. This move began with what he called the "industry war." He stated that banks are closing accounts, the U.S. Securities and Exchange Commission is cracking down on exchanges, and cryptocurrency users are "deprived of their bank accounts" just because they hold cryptocurrencies.

However, during Trump's second presidential term, the U.S. crypto field is indeed constantly lifting its shackles. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have previously had very strict scrutiny on crypto exchanges and projects, but since Trump took office, the United States has taken a big step in crypto supervision, revoking the "Defi Broker Rule", revoking the lawsuit against Xrp, releasing the founder of the Silk Road, etc.

It can be said that in the American politics where power is linked to money, the Trump family has chosen the easiest way to get rich with the stingy eyes of businessmen.

Legend reverse "Scream"

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

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

On February 25, when the Bitcoin price rebounded around $89,000, Eric spoke again, suggesting that investors "buy BTC on dips, and long-term holding is the king." As a result, the next day, the price of Bitcoin plummeted to US$78,258, a single-day drop of 12%. Lookonchain's analysis shows that WLFI sold about 12,000 BTC (about 1 billion US dollars) before and after the call, which is highly consistent with the peak of market selling pressure.

On March 2, after the Trump administration announced the possibility of crypto assets as a national reserve, Eric quickly followed up, calling for "long-term holding of cryptocurrencies, and the future is decentralized." Even the tweets on Trump X's account that day announced the national reserves were inseparable from Eric. However, the next day, Ethereum crashed 17.5% again after rising, and the decline expanded to 30% in a week, hitting a low of $1,410. On-chain analysts found that WLFI sold 86,000 ETH (about US$235 million) during this period, and the huge price difference between the holding cost price (US$3354) and the market price (US$1550) once again exposed its embarrassing situation of "buy high and sell low". On X, NeverTrustEric's topic once exceeded #Bitcoin, and community members began to spontaneously sort out the "Eric's order index" as a warning signal for market risks.

For a time, WLFI became the market's finger point, with book losses caused by the sell-off exceeding hundreds of millions of dollars, and was questioned for making profits by using derivatives off-market hedging. WLFI's business model has also been criticized again - WLFI has raised $550 million by issuing governance tokens, but token holders only have the right to vote but no dividends. The official website clearly stated that "the purchase of tokens should not be for profit." "This is essentially a capital game that doesn't have to be responsible to investors." Chainalysis, a crypto-compliant agency, commented, "political families use regulatory gray areas to transform social media influence into financial harvesting tools."

However, this does not affect the continued construction of the 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.