Trump family deepens crypto ties amid political and financial shifts

The Trump family's growing engagement with cryptocurrency has intensified in recent months, according to a report by The Wall Street Journal. Eric Trump, son of Donald Trump, said the family began embracing crypto after their financial accounts were allegedly targeted following the Capitol riot in January 2021. He claimed that several banks abruptly closed hundreds of accounts tied to the Trump Organization without explanation, forcing the family to seek alternative banking solutions and ultimately turn to crypto as a perceived shield against political bias [1].

Eric Trump described the experience as a wake-up call, highlighting the vulnerability of the traditional financial system. “At that time, I realized how fragile the financial system was and how easily it could be weaponized against you,” he said. He added that industry insiders confirmed to him that the Biden administration had imposed pressure on banks to limit crypto firms’ access to banking services, reinforcing the family’s belief that the financial system was being used as a political tool [2].

The Trump Organization filed a lawsuit against Capital One in March 2025, alleging that the bank had shut down its accounts for political reasons, resulting in significant financial harm. Just one month later, Eric Trump warned that banks must adapt to crypto or risk becoming obsolete within a decade [1].

In addition to his advocacy for broader crypto adoption, Eric Trump has expressed support for the tokenization of real-world assets. He questioned why it should be impossible to tokenize a high-value asset like Trump Tower and offer it globally for investment. “Why is it that if I wanted to refinance Trump Tower, I couldn’t tokenize this asset and put it on the street for billions of people around the world to otherwise invest in it?” he asked [1].

The Trump family’s involvement in crypto has deepened in recent years. Donald Trump was reported to have launched a memecoin called TRUMP ahead of his 2024 presidential campaign. The family is also linked to World Liberty Financial, which offers the USD1 stablecoin, and lists Donald Trump as Co-Founder Emeritus alongside his sons. Additionally, Donald Trump Jr. and Eric Trump are co-founders of American Bitcoin, a subsidiary of Hut 8, which secured $220 million to purchase Bitcoin and mining equipment [1].

According to a report from August 2025, Donald Trump had accumulated a $2.4 billion fortune from his crypto ventures. Eric Trump dismissed claims that the family profited from his father’s political career, while also hinting that he or another family member might run for president in 2028 [1].

The Trump family’s pivot to crypto aligns with a broader trend of political figures and investors seeking digital assets as a hedge against regulatory and financial uncertainty. However, critics argue that the family’s involvement raises questions about whether their crypto pursuits are primarily financial or politically motivated. The ongoing debate highlights the increasing role of crypto in both the financial and political spheres in the U.S.