Eric Trump: 'The Banks Made The Biggest Mistake of Their Lives'
The son of U.S. President Donald Trump spoke at CoinDesk's Consensus conference in Toronto,
“There’s a famous saying that sometimes the enemy of your enemy is actually your best friend,” Eric Trump told the crowd at Consensus in Toronto, Canada. “That was the Trumps with the crypto community. And I think the banks made the biggest mistake of their lives.”
“So many of the banks have been weaponized and I was case in point,” said the son of the U.S. president. “I was probably the most canceled person for doing absolutely nothing wrong, only because we had a political view, and a political view that might not have been popular with some of the big financial institutions and guys, they came after me like I was a dog.”
The son of U.S. President Donald Trump and co-founder of bitcoin $BTC mining company American Bitcoin is also an adviser to World Liberty Financial (WLF), which recently launched a U.S. dollar-backed stablecoin, USD1, that has already reached $2 billion in market capitalization.
Eric Trump’s statement at Consensus 2025 likely had a modest immediate impact, contributing to bullish sentiment and social media buzz but not directly causing significant price movements. In the short term, it may drive speculative interest in Trump-affiliated projects like WLF’s USD1 stablecoin and meme coins, while reinforcing DeFi’s appeal. Broader implications include increased pressure on banks to adopt blockchain and heightened scrutiny of the Trump family’s crypto ventures. However, the statement’s effect is intertwined with existing market trends and policy developments, limiting its standalone influence. Investors should remain cautious, as the crypto market’s volatility and the Trump family’s controversial involvement introduce both opportunities and risks.
