Eric Trump, son of President Donald Trump, has categorically stated that there is “virtually none” when it comes to communication about crypto between himself and the President, despite the administration’s growing focus on digital assets. His comments came in the wake of an announcement that he and his brother, Donald Trump Jr., are launching a Bitcoin mining-focused venture with Hut 8 Corp. The new company, called American Bitcoin Corp., aims to focus on Bitcoin mining and the development of a Strategic Bitcoin Reserve.
Eric Trump will serve as Chief Strategy Officer at American Bitcoin, working closely with Hut 8 CEO Asher Genoot. Together, they plan to merge existing Hut 8 mining operations with the newly formed entity. According to Genoot, Hut 8 will “contribute our rigs into the entity in return for an 80% stake,” giving the Trumps’ side 20%, although exact details on how much of that 20% is owned by the Trump family have yet to be disclosed.
Addressing Conflict Of Crypto Interest Concerns
During an interview with Bloomberg Crypto, Eric Trump was pressed on how closely the White House might be involved in—or potentially benefit from—the family’s growing crypto ventures. He insisted there is no conflict of interest, stating: “Yeah, virtually none. I can tell you my father’s always been a big part of cryptocurrency. […] He fell in love with an industry because the regulators were going after that industry […] the exact same way as they were going after our family.”
He also referenced criticisms that the administration’s actions could be seen as enriching the Trump family rather than benefiting the crypto industry broadly. Eric Trump dismissed these critiques as misplaced, remarking: “By that same standard, you know, lower energy prices enriches us because we use gasoline in our lawnmowers at our golf courses. Right? I mean, it’s kind of a ridiculous notion. The entire world is going toward the crypto industry. There’s no question about it.”
American Bitcoin Corp. launches as a significant mining operation on “day one.” According to Genoot, the goal is to build one of the largest Bitcoin mining and Bitcoin-holding companies. He explains that one motivation for creating a standalone public entity is to give investors “a pure play mining company that has the ability to produce Bitcoin cheaper than just buying it.”
Eric Trump underscores his enthusiasm for Bitcoin’s potential to serve as “digital gold” and highlights what he sees as crypto’s expanding global adoption. He says American Bitcoin’s approach will combine Hut 8’s data-center and mining expertise with the Trumps’ overarching vision: “You take a company that’s able to literally mine Bitcoin for almost 50% of what it’s trading for … and they’re able to bring up the scale. It’s a dynamite combination. And I think we’re going to take the industry by storm.”
Beyond American Bitcoin, the Trump family has been linked to various crypto endeavors. Eric Trump spoke about World Liberty Financial, an initiative that raised significant funds through governance tokens and invests further in cryptocurrencies. President Trump himself has actively promoted stablecoin legislation and has appeared at crypto industry gatherings during his campaign and presidency—moves that critics say risk entangling personal or family businesses with national policy.
Still, Eric Trump disputes any notion of blurred lines: “There are no conflicts because I work with the White House. I’ve been in private industry my entire life, and we started World Liberty long before my father ever got elected.”
Despite these widespread family initiatives, Eric Trump repeated there is minimal, if any, dialogue on crypto between himself and President Trump. Asked whether the White House’s push to make crypto more accessible calls for a firewall, he responded: “Virtually none. … My father was a massive believer in cryptocurrencies, as am I. And really, our political experience is what brought us to the table in this amazing new kind of financial frontier.”
At press time, Bitcoin traded at $84,097.
Featured image created with DALL.E, chart from TradingView.com
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