Bitcoin News Today: Eric Trump's ETH Denial Exposes Crypto's Misinformation Vulnerability

Eric Trump, son of former U.S. President Donald Trump, has denied a viral claim that he predicted Ethereum (ETH) would reach $8,000 within 38 days, calling the assertion "fake news nonsense". The false prediction, attributed to a social media account named "cryptogoos," sparked widespread speculation in crypto forums and on platforms like X (formerly Twitter). Eric Trump directly confronted the claim by responding to the original post, clarifying that he never made such a specific ETH price prediction. The incident highlights the vulnerability of the cryptocurrency market to misinformation, where high volatility and celebrity endorsements often amplify the spread of unverified claims.

The controversy underscores broader challenges in verifying crypto-related news. Experts note that social media algorithms prioritize engaging content, enabling false narratives to gain traction rapidly. In this case, Eric Trump's swift denial on the same platform where the rumor originated helped mitigate potential confusion. The incident also raises concerns about the real-world impact of fabricated predictions, including misleading investors and distorting market perceptions.

Beyond the ETH controversy, Eric Trump has been vocal about his bullish stance on Bitcoin (BTC). Speaking at a recent event, he defended the cryptocurrency against skeptics, emphasizing its role as "digital gold" and a store of value. Despite Bitcoin's recent decline, which saw its price dip below $90,000, Trump argued that the asset remains a long-term investment opportunity. He cited historical price trends, noting that Bitcoin traded at $16,000 three years ago and reached $120,000 earlier this year, calling the current dip a buying opportunity.

Eric Trump's advocacy for Bitcoin extends beyond commentary. As co-founder of American Bitcoin, he has showcased the company's mining operations in Texas, which house 35,000 liquid-cooled servers and account for 2% of global Bitcoin mining output. The company reported a $3.5 million profit in Q3 2025, with Trump attributing its efficiency to low energy costs in West Texas. He also highlighted the growing institutional adoption of Bitcoin, pointing to the approval of spot ETFs and initiatives by financial giants like JPMorgan and Fidelity.

The Trump family's crypto engagement has drawn regulatory scrutiny. Democratic Senators Elizabeth Warren and Jack Reed recently called for a federal investigation into World Liberty Financial (WLFI), a Trump-linked crypto initiative, over concerns about transparency and potential ties to "bad actors." Eric Trump, however, defended the project, stating that stablecoins and blockchain technology address inefficiencies in traditional banking systems. He also confirmed that the Trump Organization holds significant digital assets, including his personal Bitcoin holdings.

Eric Trump's recent reaction to Barstool Sports founder Dave Portnoy's $1 million XRP purchase further illustrates his active role in the crypto space. Trump praised the move as a "smart trade," aligning with his broader strategy of buying during market dips. Portnoy, who has previously expressed regret over selling XRP at a perceived low, reiterated his belief in the asset's growth potential, drawing comparisons to his early Bitcoin investments.

As the crypto market navigates regulatory and volatility challenges, high-profile figures like Eric Trump continue to shape public perception. His multifaceted involvement—ranging from mining operations to market commentary—reflects a broader trend of political and business leaders leveraging their influence to drive adoption. However, the ETH prediction incident serves as a cautionary tale, reinforcing the need for due diligence in an ecosystem where misinformation can move markets.