“There’s a famous proverb that sometimes your enemy’s enemy is actually your best friend,” Eric Trump told the crowd in Toronto, Canada in consensus. “It was Trump in the crypto community, and I think the banks made the biggest mistake in their lives.”
President Donald Trump’s son and Bitcoin co-founder BTC$103,702.54 The mining company, American Bitcoin, is also an advisor to the world’s Liberty Financial (WLF), recently launched the US dollar-backed stubcoin, USD1, which has already reached a market capitalization of $2 billion.
WLF co-founder joined Trump on stage on Friday, announcing that USD1 has become operational on multiple blockchains via ChainLink’s Cross-Chain Interoperability Protocol (CCIP).
Trump painted a vivid picture of personal grievances that turned into ideological beliefs, and was interested in cryptography as a shield to financial gatekeeping, claiming that he was “cancelled” by major financial institutions due to his political views.
“There are so many banks being weaponized and I was a great example,” the US president’s son said. “I probably had a political view that we had, and maybe we weren’t popular with some big financial institutions and people. They came after me like a dog.”
USD1 is a patriotic financial tool for people in unstable or corrupt regimes, he said.
“It gives so many freedoms of economic choice, especially to markets and countries where people didn’t have any kind of economic freedom, to markets and countries where they didn’t have financial freedom, to countries where they were torn apart by wars that are subject to corruption, that could be subject to ridiculous inflation,” he said. “They go to work every day, their money is burning under their mattresses, and suddenly we give the world the ability to support one by our Treasury’s ability to ride US dollars.”
Today, the lawyer representing the WLF opposed scrutiny from U.S. Sen. Richard Blumental, a leading Democrat, on a panel in last week’s letter that covers corruption and mismanagement investigations that asked about the ownership and investment structure of Trump-owned entities, including the WLFI.