A pair of posts on X (formerly known as Twitter) from Donald Trump’s sons have the crypto world buzzing.
“We’re about to shake up the crypto world with something HUGE,” Donald Trump Jr. posted earlier today. “Decentralized finance is the future—don’t get left behind,” he added.
The post followed a similarly cryptic tweet from his brother Eric yesterday in which he professed his newfound love for crypto and DeFi, shorthand for a group of noncustodial, trading apps collectively known as “decentralized finance.”
“Stay tuned for a big announcement,” Eric tweeted.
We’re about to shake up the crypto worldwith something HUGE.
Decentralized finance is the future—don’t get left behind. #Crypto #DeFi #BeDeFiant— Donald Trump Jr. (@DonaldJTrumpJr) August 7, 2024
Eric Trump, executive vice president of the Trump Organization, also tagged profiles related to his father, The Trump Organization and his brother. This combined with Donald Jr.’s follow up tweet today suggests whatever they’re cooking up is a coordinated Trump effort.
The involvement of the former president himself isn’t all that far-fetched, given his involvement with multiple NTF collections, which saw their prices spike following an attempt on his life last month.
Reactions from the crypto faithful, a voting bloc former President Trump has spent several weeks attempting to court, has been less than favorable, with most expressing skepticism about the teased project.
“It seems quite unlikely that Eric is working on something long-term,” Matthew Graham, founder and managing partner of venture capital firm Ryze, told Decrypt. “Overall we would assume a political coin would be similar to coins from entertainers or sports stars; that is to say, opportunistic and negative in value,” he said, referring to the slew of celebrity meme coins launched on Solana over the last few months.
“You should probably avoid cooking up any crypto schemes until you’re sure that daddy’s gonna crush the SEC,” Jameson Lopp, co-founder of Bitcoin physical node producer Casa Hodl, tweeted in response to Eric.
“Prioritize Bitcoin,” wrote Gabor Gurbacs, founder of PointsVille and former director of digital assets for VanEck, replying to Donald Jr.’s announcement of an announcement.
The Trump sons’ public crypto declarations follow a gradual shift in their father’s stance on the subject. As reported by Decrypt, Donald Trump went from calling Bitcoin a scam to becoming one of the most fervent crypto advocates in U.S. politics.
Earlier this month, Donald Trump suggested that the United States may even “pay off our $35 trillion” of debt with Bitcoin—”a little crypto check.”
The statement followed his recent promise to build a “strategic Bitcoin stockpile” for the nation and “keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future.”
