Eric Trump, offspring of President Donald Trump, has explicitly declared that there is “practically none” regarding communication concerning crypto between him and the President, despite the administration’s increasing emphasis on digital currencies. His remarks followed an announcement regarding the launch of a Bitcoin mining-centric enterprise with Hut 8 Corp, alongside his brother, Donald Trump Jr. The newly established firm, named American Bitcoin Corp., intends to concentrate on Bitcoin mining and the establishment of a Strategic Bitcoin Reserve.
Eric Trump will hold the position of Chief Strategy Officer at American Bitcoin, collaborating closely with Hut 8 CEO Asher Genoot. Together, they aim to combine existing Hut 8 mining operations with the newly formed organization. According to Genoot, Hut 8 will “contribute our rigs into the entity in return for an 80% stake,” allocating 20% to the Trump side, although specific details concerning how much of that 20% is owned by the Trump family are still undisclosed.
Tackling Crypto Interest Conflict Issues
In a discussion with Bloomberg Crypto, Eric Trump was queried about the potential involvement of the White House in—or benefits from—the family’s expanding crypto enterprises. He asserted there is no conflict of interest, stating: “Yeah, practically none. I can tell you my father has always been a significant part of cryptocurrency. […] He became enamored with an industry because the regulators were targeting that industry […] in the exact fashion they pursued our family.”
He further addressed criticisms suggesting that the administration’s actions could be perceived as aiding the Trump family rather than serving the broader crypto industry. Eric Trump dismissed these criticisms as misguided, commenting: “By that same logic, you know, lower energy prices benefits us because we utilize gasoline in our lawn mowers at our golf courses. Right? I mean, it’s somewhat a ludicrous idea. The entire world is moving towards the crypto sector. There’s no doubt about it.”
American Bitcoin Corp. launches as a notable mining operation from “day one.” Genoot mentioned that the aim is to construct one of the largest Bitcoin mining and holding companies. He elaborates that one reason for establishing a standalone public entity is to provide investors “a pure mining investment that can yield Bitcoin at a lower cost than merely purchasing it.”
Eric Trump emphasizes his excitement for Bitcoin’s potential to function as “digital gold” and highlights what he perceives as the growing global acceptance of crypto. He expresses that American Bitcoin’s strategy will incorporate Hut 8’s data-center and mining expertise alongside the Trumps’ comprehensive vision: “You take a company that can literally mine Bitcoin for nearly 50% of its market price … and they’re able to scale up operations. It’s a remarkable combination. And I believe we will shake up the industry.”
Aside from American Bitcoin, the Trump family is associated with numerous crypto initiatives. Eric Trump mentioned World Liberty Financial, a project that secured substantial funds through governance tokens and further invests in cryptocurrencies. President Trump himself has actively advocated for stablecoin regulations and participated in crypto industry events during his campaign and presidency—actions that critics argue risk intertwining personal or family business interests with national policy.
Nonetheless, Eric Trump rejects any idea of ambiguous boundaries: “There are no conflicts because I collaborate with the White House. I’ve spent my whole life in the private sector, and we inaugurated World Liberty long before my father was elected.”
Even with these extensive family initiatives, Eric Trump reiterated that there is little, if any, communication about crypto between himself and President Trump. When asked whether the White House’s effort to enhance crypto accessibility necessitates a firewall, he replied: “Practically none. … My father has been a strong believer in cryptocurrencies, as am I. And truly, our political background is what brought us to the forefront in this extraordinary new financial landscape.”
At the time of writing, Bitcoin was priced at $84,097.
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