What Happened in Two Days at a Very Wild Crypto Party
The biggest names in crypto and 15,000 of their biggest fans marked a new era of freedom at a madhouse of a conference this past week in Dubai called Token2049. Eric Trump showed up and promised to take down his family's banking foes.
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Yahoo
4 days ago
- Yahoo
Eric Trump Says The Trumps Didn't Have A 'Choice' But To Embrace Crypto After They Were Debanked
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Eric Trump, the executive vice president of The Trump Organization, expressed his 'love' for cryptocurrency on Wednesday, citing his personal experiences with debanking as a major factor. Financial Necessity Led The Trumps To Crypto During an interview with Fox News, Trump said his businesses were abruptly excluded from the financial system as part of a broader campaign against the Trump family and conservatives. 'Capital One stripped 300 bank accounts from me in the middle of the night,' he mentioned. 'This wasn't just happening to the Trumps. This was happening to conservatives all over the country.' Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Trump said he didn't have a 'damn choice' but to pivot toward cryptocurrency. 'It has become the fastest-growing industry anywhere in the world. It has removed a lot of the power from the big banks, who have weaponized their platforms against the American people, and I could not be more proud to be here,' he said. Debanking Allegations The Trump Organization sued Capital One Financial Corp. (NYSE:COF) earlier this year, alleging that the bank closed hundreds of accounts linked to President Donald Trump for politically motivated reasons. Capital One has denied these allegations. In a recent interview, Trump also accused JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) of discriminating against him by refusing to accept large deposits. JPMorgan denied any political motivation in its account closures. Trump Family Bets Big On Crypto The Trumps have been deepening their involvement in the cryptocurrency industry, investing in projects such as American Bitcoin, USD1 stablecoin and decentralized finance platform World Liberty Financial. American Bitcoin, a Bitcoin (CRYPTO: BTC) mining firm, is set to make its debut on the Nasdaq stock exchange. Moreover, Trump Media and Technology Group (NASDAQ:DJT), a firm majority-owned by Trump, has announced plans to set up a Bitcoin treasury. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Maxim Elramsisy / This article Eric Trump Says The Trumps Didn't Have A 'Choice' But To Embrace Crypto After They Were Debanked originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 days ago
- Bloomberg
Trump, Witkoff Sons Test Limits of Crypto Hoarding With New Deal
Eric Trump and Donald Trump Jr. grinned as confetti rained down at Nasdaq Inc. in Times Square on Wednesday. The president's sons arrived to celebrate the newest deal for the crypto company they co-founded, World Liberty Financial. Nasdaq Chief Executive Officer Adena Friedman called the moment a 'significant milestone' that puts a public company, pairing up with the roughly one-year-old World Liberty, at the 'forefront of decentralized finance.'
Yahoo
6 days ago
- Yahoo
Crypto stock drops 25% after Eric Trump's bullish post
Crypto stock drops 25% after Eric Trump's bullish post originally appeared on TheStreet. ALT5 Sigma Corporation (Nasdaq: ALTS), a financial firm offering blockchain-powered technologies, announced on Aug. 11 that it is going to raise $1.5 billion via the sale of 200 million shares in order to create a World Liberty Financial (WLFI) corporate treasury. The World Liberty Financial is a decentralized finance (DeFi) backed by the Trump family, which is reportedly exploring the option of going public and raising around $1.5 billion to hold WLFI tokens. "One small step for mankind, one giant leap for WLFI," World Liberty Financial wrote on X. Founded in 2018, ALT5 Sigma offers next-gen blockchain-powered technologies for tokenization, trading, clearing settlement, payment and safekeeping of crypto assets. Through its subsidiaries, the firm offers two main platforms to its customers: ALT5 Pay and ALT5 Prime. It has processed over $5 billion in crypto transactions since inception. . ALT5 Sigma is one of the latest companies to create a crypto asset treasury firm, similar to Michael Saylor's MicroStrategy (Nasdaq: MSTR) and Tom Lee's BitMine Immersion (NYSE: BMNR). While the former is the leading Bitcoin treasury firm, the latter is the leading Ethereum treasury firm. Now, even WLFI is also becoming a preferred asset among crypto treasury firms. The president's eldest child, Donald Trump Jr., said he was excited about the partnership. Eric Trump, the president's third child, also hailed the move. Following the announcement and these tweets, the ALTS stock immediately declined by more than 25% in value. It was trading at $6.49 at the time of writing. Crypto stock drops 25% after Eric Trump's bullish post first appeared on TheStreet on Aug 11, 2025 This story was originally reported by TheStreet on Aug 11, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
