Eric Trump, Executive Vice President of the Trump Organization, recently revealed that the Trump family’s pivot to cryptocurrency was largely motivated by repeated banking refusals encountered due to their political affiliation. Speaking in interviews around August 2025, Eric Trump emphasized that traditional banks began canceling or cutting ties with the family’s businesses not for financial reasons, but seemingly because of their connection to former President Donald Trump.
“I never thought I would fall into the world of crypto until every bank started canceling us for no reason whatsoever other than my father is in politics,” Eric Trump said. This experience illuminated for them the need for a financial system that is “cheaper, faster, more transparent,” and resistant to what he described as “cancellation” tactics, ultimately guiding their entry into digital currencies and blockchain technology.
The Trump family’s crypto ambitions are anchored around World Liberty Financial, a cryptocurrency project co-founded by Donald Trump’s son Eric Trump and other partners. Despite challenges such as hacking attempts on social media accounts linked to family members to fraudulently promote crypto investments, the project continues to advance with significant backing. The stablecoin issued under World Liberty Financial became central to a major $2 billion investment from an Abu Dhabi investment firm, signaling growing international interest.
Additionally, Trump Media and Technology Group (TMTG), the parent company of former President Trump’s social media platform Truth Social, announced a $2.5 billion private placement intended to create a bitcoin treasury, reflecting the family’s strategic investment in cryptocurrency assets. Devin Nunes, CEO of Trump Media, described bitcoin as an “apex instrument of financial freedom” and highlighted the treasury as a defense mechanism against discrimination and harassment by traditional financial institutions.
Eric Trump also described their involvement in bitcoin mining through ventures such as the merger of Trump’s American Data Centers with American Bitcoin, aiming to build one of the largest bitcoin mining operations. This move further illustrates the family’s deepening commitment to embedding cryptocurrency into their financial ecosystem.
This crypto shift is presented by Eric Trump as a solution to the perceived weaponization of traditional banking against politically affiliated entities. By embracing blockchain technology, the Trump family aims to secure transparency, security, and global financial accessibility that transcends limitations and biases of conventional banking.
The family’s broader goal includes integrating cryptocurrencies into subscription services and utility tokens for platforms like Truth Social and its premium service Truth+, further expanding their digital economy footprint. Despite the family’s reduced day-to-day involvement from Donald Trump himself, who has handed over asset management to his children, the enterprise’s crypto efforts continue to gain momentum, marking a significant adaptation in their business strategy amid political and financial pressures.