Eric Trump Reveals Family’s Crypto Pivot After 2021 Banking Blackout

When traditional finance slammed doors shut, the Trumps built new ones with blockchain.

The Banking Exodus That Forced a Dynasty's Hand

Major institutions cut ties abruptly in 2021—no explanations, no apologies. Rather than beg for re-entry, the family diverted nine-figure assets into Bitcoin, Ethereum, and stablecoins. Their portfolio now operates entirely outside legacy banking channels.

Decentralization as Strategic Defense

Cold wallets replaced corporate accounts. Smart contracts handle payroll. They're not just holding digital assets—they're running businesses on-chain. "Why trust banks that can freeze you overnight?" Eric noted during a recent crypto conference. "The system protects itself, not you."

Wall Street's loss became crypto's gain—though let's be real, watching billionaires discover financial sovereignty four years after the whitepaper dropped is peak traditional finance irony.

TLDR

• Eric Trump says family became pro-crypto after being “debanked” in 2021.

• The Trump Organization sued Capital One over account closures this year.

• Eric Trump backs tokenization of assets like Trump Tower for investors.

• The Trump family launched World Liberty Financial and American Bitcoin.

Eric TRUMP has revealed that his family became pro-crypto after being “debanked” in early 2021. Speaking to The Wall Street Journal, he said hundreds of bank accounts linked to the Trump Organization were closed following the Capitol incident that January.

According to Trump, the family initially relied on regional banks before finding another institution to host its accounts. He claimed that the closures were politically motivated and described the experience as a turning point in how he viewed the financial system.

“At that time, I realized how fragile the financial system was and how easily it could be weaponized against you,” he told the WSJ.

Legal Dispute With Capital One

The Trump Organization pursued legal action against Capital One earlier this year, alleging that its accounts were closed for political reasons. The lawsuit claimed that the closure caused financial harm to the business.

Eric Trump compared the experience to regulatory pressure on cryptocurrency companies under the Biden administration.

“This whole system was weaponized against them, no different than it had been weaponized against us for different reasons,” he said.

In April, he further argued that banks must adopt digital assets or risk becoming obsolete within a decade.

Trump Family Expands Crypto Ties

The Trump family has since deepened its connections with the digital asset industry. In September 2024, the family launched World Liberty Financial, which issues the USD1 stablecoin. Donald Trump is listed as co-founder emeritus, with his sons named as co-founders.

Eric Trump and Donald Trump Jr. also co-founded American Bitcoin, a subsidiary of Hut 8 that raised $220 million to acquire Bitcoin and mining equipment. Meanwhile, Donald Trump’s personal ventures in crypto, including his TRUMP token, have generated substantial returns.

According to an August 11 report, Donald Trump has amassed a crypto fortune worth $2.4 billion from various projects.

Eric Trump Advocates Tokenization and Future Role

Eric Trump has expressed strong support for tokenization of real-world assets. He said tokenizing assets such as Trump Tower WOULD allow billions of people worldwide to invest directly. “Why is it that if I wanted to refinance Trump Tower, I couldn’t tokenize this asset and put it on the street?” he asked.

He also denied accusations that the Trump family enriched itself through Donald Trump’s presidency. However, he acknowledged the possibility of running for president in 2028 or supporting another family member’s candidacy.