Donald Trump's Salesmanship Led to Successful Sale of New York Plaza Hotel Despite Being on the Brink of Bankruptcy

Barbara Corcoran, a real estate mogul and Shark Tank star, recalls how Donald Trump sold his New York Plaza Hotel without even pitching it. Trump used his salesmanship to sell a large plot of land along with the hotel, sealing the deal and helping him recover from financial troubles. Corcoran praises Trump as the "best salesman I've ever met." The Trump family's wealth originated from an FHA loan in 1949 to build residential complexes in Brooklyn. Eric Trump defends the family's business practices, highlighting their focus on cryptocurrency as a hedge for their real estate portfolio. Corcoran believes Trump's awareness of people's vulnerabilities helped him win over the American people and secure the presidency.

In a significant move, U.S. President Donald Trump has signed an executive order allowing cryptocurrency investments in 401(k) retirement plans, a decision that could open the gates for millions of dollars to flow into the crypto market. This development follows a series of announcements by the Trump administration, including the appointment of Stephen Miran to the Federal Reserve Board of Governors, and the Trump family's expansion into the crypto treasury space [1].

Executive Order on Crypto in 401(k)s

The executive order, signed by Trump, permits retirement plan participants to allocate up to 5% of their 401(k) contributions to cryptocurrencies. This move is expected to attract more institutional investors and individuals to the crypto market, potentially increasing its liquidity and volatility. The order aims to provide Americans with more investment options and to foster innovation in the financial sector [1].

Stephen Miran's Appointment to the Federal Reserve

In a related development, President Trump announced that Stephen Miran, the current Chair of the U.S. Council of Economic Advisors, will replace Adriana Kugler as a voting member of the Federal Reserve's Board of Governors on an interim basis until January 31, 2026. Miran's appointment is notable for his protectionist views and his role in crafting the "Mar-a-Lago Accord," an economic and trade policy proposal that seeks to weaken the U.S. Dollar to boost domestic production [2].

Market Impact

The appointment of Miran has had a notable impact on the U.S. Dollar Index (DXY). Following the announcement, the DXY fell sharply from the 98.40 region to the 98.00 area, indicating a potential weakening of the U.S. Dollar. This move is consistent with Miran's economic policies, which aim to manipulate trade deficits and weaken the USD [2].

Trump Family's Crypto Expansion

The Trump family is also expanding its crypto empire. World Liberty Financial, the Trump family business, is planning to launch a crypto treasury company. This move comes amid a boom in digital asset treasury companies, which hold large stashes of cryptocurrencies on their balance sheets. The Trump family's new venture is expected to hold a combination of proprietary tokens and cash, with Eric Trump and Donald Trump Jr. serving on the board [3].

Eric Trump's Crypto Advice

Eric Trump, the son of President Trump, has advised his followers not to bet against Bitcoin and Ethereum. His statement comes after Ethereum recorded a significant jump above $4,000, wiping out short positions worth $105 million. Eric Trump's comments highlight the potential for short squeezes in the crypto market, particularly for assets like Ethereum that have seen substantial price increases [4].

Conclusion

The Trump administration's moves in the crypto and financial sectors are significant and could have far-reaching implications. The executive order on crypto in 401(k)s opens new investment opportunities, while Stephen Miran's appointment to the Federal Reserve could influence monetary policy. The Trump family's expansion into crypto treasury companies and Eric Trump's advice on crypto investments underscore the family's growing involvement in the digital asset market. These developments are likely to shape the financial landscape and attract more attention to the crypto sector.

References

[1] https://coinmarketcap.com/headlines/news/donald-trump-signs-order-letting-crypto-into-401-k-retirement-plans/
[2] https://www.fxstreet.com/news/donald-trump-taps-cea-chair-stephen-miran-for-seat-on-fed-board-202508072047
[3] https://fortune.com/crypto/2025/08/08/donald-trump-world-liberty-financial-digital-asset-treasury-public-company/
[4] https://www.cryptopolitan.com/eric-trump-warns-betting-against-btc-eth/