“There is 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 is the Trumps with the cryptocurrency community. And I think the banks have made the biggest mistake of their lives.”
The son of U.S. President Donald Trump and co-founder of the bitcoin mining company BTC American Bitcoin, also an advisor to World Liberty Financial (WLF), a company that recently launched a dollar-backed stablecoin, USD1, which has now reached a market capitalization of $2 billion.
The co-founders of WLF joined Trump on stage on Friday when they announced that USD1 can now operate on multiple blockchains through Chainlink's Cross-Chain Interoperability Protocol (CCIP).
Trump painted a vivid picture of personal grievances turning into ideological conviction, claiming he has been “canceled” by major financial institutions for his political views, which led him to be interested in cryptocurrency as a shield against financial control.
“A lot of banks have been weaponized and I am a prime example,” the son of the U.S. president said. “I am probably the most canceled person for doing nothing wrong, just because we have a political viewpoint, and that political viewpoint may not be supported by some major financial institutions and the men behind them, they have pursued me as if I were a dog.”
He stated that USD1 is a patriotic financial tool for people in unstable or corrupt regimes.
“It provides so much financial choice freedom, especially for markets and countries where people have never had any kind of financial freedom, never had any kind of financial independence, could be in a war-torn country, where it has to suffer from corruption, it has to suffer from unreasonable inflation,” he said. “Every day they go to work and their money is burned under their mattress, and suddenly, we give the world the ability to be backed by the US dollar one for one by the US Treasury.”
Earlier today, attorneys representing WLF objected to the oversight of U.S. Senator Richard Blumenthal, the leading Democrat on a committee responsible for investigating corruption and mismanagement, who inquired about the ownership structure and investment for entities linked to Trump, including WLFI, in a letter last week.