"Saving the Dollar" or Pursuing Personal Interests? The Trump Family's Encryption Ambitions and the Narrative of Dollar Hegemony

Eric Trump, son of U.S. President Trump, stated that the growing demand for Crypto Assets could "save the dollar" by attracting global investment to the United States. He believes that Bitcoin Mining and financial independence will bring a "financial revolution" to America. Against the backdrop of the dollar facing pressure from Fed policies and national debt issues, the Trump family is actively expanding its investments in the encryption field, covering various aspects from Bitcoin ETF to Meme and stablecoin.

Crypto Assets may "save the dollar": Eric's unique perspective

According to the UK Financial Times, Eric Trump stated this week that the boom in Crypto Assets will bring "trillions of strange currencies from around the world" to the United States. He believes that the rising demand for digital assets could ultimately "save the dollar," solidifying its position in the global financial system.

He argued that Bitcoin Mining and financial independence could drive a "financial revolution" rooted in the United States. His remarks came just hours after he rang the opening bell at Nasdaq to celebrate the listing of American Bitcoin Corp. Eric Trump holds over $500 million worth of shares in the company. The company was formed earlier this year after a merger between the family-backed American Bitcoin venture capital firm and Gryphon Digital Mining, and it now trades under the ticker symbol ABTC.

At the time these comments were made, the dollar was under pressure. President Donald Trump's trade war, along with his frequent conflicts with the Fed, have caused unease among investors. The Fed cut interest rates for the first time this year on Wednesday, which intensified market concerns about inflation and debt levels, and continued to put pressure on the dollar. Since taking office, Donald Trump has repeatedly advocated for lower interest rates, claiming that the U.S. benefits more from a weak currency. He has also promised to make America the "crypto capital of the world" and encouraged regulators to adopt a more lenient approach towards digital assets, which has propelled Bitcoin and other tokens to historic highs.

Trump family's crypto layout: from ETF to stablecoin

The Trump family’s interest in the encryption field now encompasses Truth Social Bitcoin ETF, a Meme named after Donald and Melania Trump, and stablecoin investments related to the Trump Media & Technology Group.

Last month, Eric Trump predicted at the Bitcoin 2025 Asia conference held in Hong Kong that Bitcoin will inevitably reach $1 million. He noted that demand is continuously increasing from the government, businesses, and wealthy families. "Everyone wants Bitcoin. Everyone is buying Bitcoin," he said. Furthermore, Trump sees crypto assets as a challenge to Wall Street. He stated that he is proud of building a company without the help of major American banks, describing it as "the ultimate revenge against big banks and modern finance." Currently, the Trump Organization is suing Capital One, claiming the bank closed its accounts in 2021 for political reasons, which the bank denies. He also added that crypto assets have changed people's perceptions of access to financial services. "You realize you don't need them at all. Frankly, you won't miss them either," he referred to Wall Street lenders.

The Political and Financial Dual Role of Stablecoins

Stablecoins are especially becoming a catalyst between encryption and the banking industry. U.S. banking executives have warned that if the yields offered by stablecoins exceed those of savings accounts, they could deplete bank deposits. Meanwhile, the White House is encouraging issuers like Tether and Circle to purchase U.S. Treasury bonds, a move seen as crucial to supporting the bond market, as Washington issues trillions of dollars in new debt each year. Eric Trump himself is also involved in this trend. Last year, he co-founded World Liberty Financial Inc., which operates a stablecoin pegged to the U.S. dollar. According to disclosures, his father holds over 15 billion WLFI tokens at the end of 2024, worth over $3 billion at recent prices. However, Eric downplayed this unexpected windfall. "If my father cared about monetizing his life, the last thing he would do is run for president, because everything we do is to monetize our lives," he said.

Conclusion

Eric Trump’s argument that Crypto Assets can "save the dollar" ties an emerging technology to traditional national currency hegemony. This not only reflects the Trump family's open endorsement of digital assets but also reveals their unique strategy of intertwining personal business interests with macro-political issues. This move is reshaping public perception of Crypto Assets, shifting it from a fringe technology to the center of mainstream financial and geopolitical discussions. This series of actions indicates that Trump and his family are working to position themselves at the intersection of the populist encryption movement and mainstream financial policy debates, particularly in a highly scrutinized area like stablecoins.