Eric Trump, the son of U.S. President Donald Trump, made an appearance at CoinDesk’s Consensus conference in Toronto, Canada on Friday, May 16, 2025, at 7:29 p.m. In his speech, Trump expressed his belief that the enemy of your enemy can be your best friend, drawing parallels between the Trump family and the crypto community. He boldly proclaimed that the banks had made a colossal mistake, hinting at a significant shift in the financial landscape.
Not only is Eric Trump the son of the U.S. President, but he is also a co-founder of American Bitcoin, a company specializing in bitcoin mining. Additionally, he serves as an advisor to World Liberty Financial (WLF), which recently introduced USD1, a stablecoin backed by the U.S. dollar that has quickly amassed a market capitalization of $2 billion. Trump was joined on stage by the co-founders of WLF as they announced the interoperability of USD1 across multiple blockchains through Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
Trump shared his personal journey of being “canceled” by major financial institutions due to his political views, which ignited his interest in cryptocurrency as a means to combat financial censorship. He emphasized that USD1 serves as a patriotic financial tool, particularly for individuals living in unstable or corrupt environments. The stablecoin offers a sense of financial freedom to those who have been deprived of such opportunities, especially in war-torn regions plagued by inflation and corruption. By providing a one-to-one backing by U.S. Treasuries, USD1 aims to empower individuals with financial independence and stability.
Despite facing scrutiny from U.S. Senator Richard Blumenthal regarding the ownership and investment structure of Trump-affiliated entities, WLF remains steadfast in its mission to revolutionize the financial landscape. The company’s commitment to transparency and innovation underscores its dedication to providing accessible and secure financial solutions to individuals worldwide. Helene Braun, a markets reporter based in New York, offers insights into the evolving landscape of cryptocurrency and its impact on traditional financial institutions. Through her reporting, she sheds light on the transformative potential of digital assets and their ability to empower individuals in a rapidly changing financial environment.
