President Donald Trump’s son, Eric Trump, said it was a “awakened culture” that came after his family and led him to accept Crypto.
The Trump organization’s executive vice president claimed that “some of the world’s largest banks” had cancelled their accounts, as well as other family accounts, at the end of President Trump’s first term.
He believes this was the result of a “wakening cancellation culture that spread across much of the world.”
That was a great honor! pic.twitter.com/eu9pfqjejx
– Eric Trump (@erictrump) May 1, 2025
“If you start saying things that are against the system, they’ll cancel you, they’ll drive you away, and they’ll chase after you,” Eric Trump said at the Token2049 conference in Dubai. “That’s what really made me find cryptocurrency.”
Trump explained that his family’s business empire has worked in real estate for the threat of banks that come “after us like animals for politics.”
At that moment he realized that the bank was chasing crypto users with what is called “Operation Chalk Point 2.0.”
“They sometimes say that your enemy is your friend, and that’s exactly what happened,” Eric Trump told a packed room of participants. “And what I’ve noticed is how outdated and broken the modern financial system is.”
During his first term, President Trump labeled Bitcoin as a “scam” and only thought the US dollar was worthy of his time. However, when Trump launched his campaign in 2024, he changed his songs, began singing civic praises, vowing to boost the US crypto industry and Bitcoin miners in particular.
President Trump later released Solanamemme Coin a few days before his inauguration in January. He previously started multiple NFT collections on the Ethereum Scaling Network Polygon.
This change of opinion is largely in line with the story that his son, Eric, laid out. Eric claims that the bank came after his family in 2021, urging him to become increasingly convinced that crypto is the future. And Eric hopes the banks will suffer from this.
“When the bank comes after our family, I will never forget it,” Eric Trump said, sitting in his chair for a moment. “We’ve become the most cancelled people in the world because we’re related to American politics. And honestly, I really believe that our venture into cryptocurrency, and certainly cryptocurrency, will make the big banks regret it.”
Last year, Eric Trump launched the global Liberty Financial Defis project at Ethereum, followed by USD1 stubcoin in March. On stage with Tron founder Justin Sun on Thursday, the pair announced that stablecoin, which has been dominated by dollars, will be coming to Sun’s network.
Also on Thursday, Zach Witkoff, co-founder of Liberty around the world, said Abu Dhabi-funded technology investment company MGX will use USD1 Stablecoin to complete a $2 billion investment in Binance, the world’s largest crypto exchange by trading volume. Binance investment was announced in March, but at the time the global freedom component was not revealed.
The move has generated a critical rebellion and condemnation of interest related to President Trump’s position in government given his own support for world freedom finance.
“In American history, no foreign governments or people and businesses investigating to date have ever been able to concentrate huge sums of money openly and directly on the US president and his family,” Robert Weissman, co-president of the public advocacy group, said in a statement. “This is more than captured by the term ‘conflict of interest’. Foreign policy for sale and sales justice. ”
Such criticism was before the announcement on Thursday, and has not stopped the Trump family from moving on with code. Last month, Eric Trump announced and planned to open a new mining venture called American Bitcoin Corp along with HUT8. He said Thursday that he believes it is an early era for the industry.
“We are now in the dial-up phase of the crypto revolution,” he added. “I tell you that a country that can move quickly, a country that is agile, and a country that has some foresight is going to win this (revolution).”
Edited by Andrew Hayward
