President Donald Trump's son Eric Trump said Friday that allegations coming out of Capitol Hill about his company, World Liberty Financial, helping sanctioned countries like Russia and North Korea launder money are “absolutely laughable.”
According to the interview, Eric said, “We know your customers. Everyone who buys tokens from us is verified. Give me a break.” He directly criticized Sen. Elizabeth Warren, saying she has been targeting his family for years and once accused him of treason.
A letter from Warren and Jack Reed to Attorney General Pam Bondi and Treasury Secretary Scott Bessant called for an investigation into whether World Liberty sold tokens to hostile governments.
Eric rejected all of that. “I'm not involved with the administration at all. I'm not involved in policy. I run a company,” he said. He added that his father is now back in the White House and has “nothing to do” with crypto or the family's projects.
He defended Binance founder CZ, who was granted a presidential pardon, as someone he has “probably met at least once,” and argued that the link to a $2 billion trade in stablecoins tied to President Trump has been exaggerated.
Eric mines Bitcoin daily and doubles his accumulation
American Bitcoin's third-quarter results nearly doubled its revenue, with net income of $3.5 million and gross margin of 56%.
The company mines BTC in West Texas and claims production costs are less than 50% of the market. “We mine it every day,” Eric said. “Our only metric is Bitcoin per share. That's what we care about.”
When asked about Bitcoin's collapse to $80,000, he said, “This is a great time to buy Bitcoin. If you go back two years, it was $36,500. Three years ago, it was $16,000. Now it's $91,000. Name another asset that did that.”
Eric said more countries and companies are adding BTC to their balance sheets, citing the UAE, El Salvador, Fidelity, BlackRock, and Coinbase as examples.
He said US Bitcoin currently ranks 23rd in the world among national treasuries, with the company's largest facility producing more than 2% of the world's Bitcoin.
He also discussed why he entered mining when other companies were exiting.
“We are surrounded by the smartest people. Our sister company, Hut 8, builds and powers our data centers. That backbone allows us to mine Bitcoin more efficiently than anyone else.”
While other miners chase AI, Eric continues to stick with BTC. He said Bitcoin is easier to move than hotels or fixed assets, and requires no middlemen or paperwork. “This is the best hedge against hard assets,” he said.
Trump family eyes tokenized real estate and stablecoin finance
Eric said his family has been locked out of traditional banking. He claims Capital One, JPMorgan and Bank of America have closed nearly 400 accounts tied to their hotels, restaurants, condominiums and golf clubs. “They stripped our banks for nothing, just because my dad was wearing a red hat that said 'Make America Great Again.'”
That experience likely led to the creation of World Liberty Financial, which Eric says is now the fastest growing stablecoin company on the planet. He said stablecoins could return trillions of dollars to the United States and “save dollars.”
He said cryptocurrencies would allow people to move money at any time, eliminating the “72-hour purgatory.” “Is it fair that you can't wire transfers after 5pm on a Friday? That's not economic freedom. With cryptocurrencies, you can move funds from your phone while drinking wine on a Saturday,” he said.
Eric also said that the same banks that shut down blockchain have now “kissed what we know” and want to come back. “Blockchain solves everything they had control over,” he said.
Eric then brought up the topic of tokenization and said, “Why can't only Deutsche Bank fund us? Why can't people who love our brand own a piece of it?”
He said tokenization would expand access across industries such as art, music, oil and real estate, bypassing intermediaries such as brokers and title companies. “Just tokenizing the title will prevent people from being victimized by closing costs,” he said.
Eric also doubled his $1 million Bitcoin call. “It's not a straight line, but let's go back three years. Now it's $16,000 to $91,000. Even if it went down to $7,000, people were still saying it was dead. They always are.”
He said 401(k) allocations are increasing, ETFs are seeing record inflows, and volatility is decreasing as long-term money replaces fast-trading funds.
He added: “If you want 4%, buy government bonds. See you in 10 years and you'll know who won.”
