The Trump family is diving headfirst into the world of cryptocurrency. Eric Trump, son of former President Donald Trump, has announced a new project focused on “digital real estate” that will allow users to borrow and lend money on a blockchain platform.
Crypto Love: A Change of Heart
Eric Trump has been vocal about his newfound enthusiasm for crypto, particularly DeFi (Decentralized Finance). He believes this new venture could revolutionize the banking and finance industries, offering a fairer and more accessible system for everyone.
“I have truly fallen in love with Crypto / DeFi,” he tweeted recently. “Stay tuned for a big announcement.”
Disrupting Traditional Banking
The Trump Organization’s crypto project aims to address the perceived inequalities and limitations of traditional banking. Eric Trump envisions a system where loan approvals are driven by algorithms rather than human decisions, ensuring fairness and accessibility.
“It’s fair. It’s collateral that anyone can access instantly,” he said. “I don’t think people understand how revolutionary that could be for the banking and finance sectors.”
A Shift in Stance
This new venture marks a significant change in the Trump family’s stance on crypto. In 2019, former President Trump criticized Bitcoin and other cryptocurrencies, calling them “not money” and “based on thin air.” However, his campaign has since accepted crypto donations, raising over $4 million from supporters in 12 states.
A Political Play?
With the 2024 presidential election approaching, the Trump Organization’s foray into crypto is attracting attention from both supporters and critics. The campaign’s embrace of cryptocurrency could be a strategic move to appeal to a growing segment of voters interested in fintech and financial innovation.
The Trump Organization is expected to release more details about its new crypto project soon. It remains to be seen how this venture will impact the crypto landscape and whether it will live up to the family’s ambitious claims.
