Eric Trump Champions Crypto as First Family Breaks from Wall Street Tradition

Wall Street's old guard just lost its most iconic legacy backer—the Trumps are going crypto-first.

Eric Trump's public endorsement signals more than a personal pivot—it's a generational shift in how wealth gets managed when traditional finance looks increasingly archaic. No more waiting for quarterly reports or market openings. Digital assets trade 24/7, borderless, with transparency built into the code—not buried in prospectuses.

Sure, Wall Street will still charge you 2% to underperform Bitcoin—some traditions die hard.

This isn’t just a portfolio adjustment. It’s an exit from a system that’s been outpaced by innovation and trustlessness. The first family’s move might be headline-grabbing, but the real story is quieter: smart money’s already there.

Eric says crypto is fun, family is done with Wall Street

Eric isn’t just pushing crypto from the sidelines. His family has gone full throttle into the space. We’re talking a Truth Social bitcoin ETF, a Bitcoin treasury tied to Trump Media, and two meme coins; $MELANIA and $TRUMP.

Eric defended both coins, saying they were meant to be “fun,” and explained why people are buying in: “They want to bet on a coin, or they want to bet on a player. They want to bet on a celebrity, or they want to bet on a famous brand. Or they just love somebody to death, and they want to buy, you know, a kind of small piece of them, via digital currency.”

And Eric doesn’t give Wall Street any credit. At all. He made it clear that everything they’ve built was done without the help of big-name banks. “It’s almost like the ultimate revenge against the big banks and modern finance,” he said.

That jab came after the TRUMP Organization filed a lawsuit against Capital One, accusing the bank of closing their accounts in 2021 for political reasons — something the bank denies.

But Eric wasn’t done. “You realise you just don’t need them. And frankly, you don’t miss them.” He added that he wasn’t just referring to Capital One, but “all” of Wall Street’s major lenders and their “top people.”

Stablecoins, trillions, and the White House betting on crypto

Stablecoins have traditional banks spooked. They think cash might flow out of the banking system if coins like Tether or Circle offer better returns. And that fear isn’t fake. It’s growing, especially after Congress passed the first major crypto law in July.

Now the White House wants stablecoin issuers to buy up a fat slice of the Treasury’s debt. Why? Because these crypto firms make money on the interest from the bonds they hold.

Last year, Eric co-founded World Liberty Financial Inc. (WLFI), a crypto company that runs a stablecoin called USD1, pegged to the U.S. dollar. That project has serious family backing. Donald held 15.75 billion WLFI tokens at the end of 2024, based on official filings. At Wednesday’s trading price, that holding was worth over $3 billion.

When asked about the family’s financial gain from crypto, Eric downplayed it. “If my father cared about monetising his life, the last thing he WOULD have done is run for president, where all we’ve done is un-monetise our life.”

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