$109,000.00
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-6.49%Reading
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 DeFiDeFi, 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
I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr
— Eric Trump (@EricTrump) August 6, 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, have 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.
Donald Trump just doubled down on his big presidential Bitcoin campaign, potentially planning to do more with the asset than he told the crowd at the Bitcoin conference. Beyond establishing a “strategic Bitcoin stockpile,” the candidate suggested using the leading digital asset to make America solvent again. “Who knows, maybe we’ll pay off our $35 trillion [in debt],” Trump said during an interview with Maria Bartiromo of FOX Business on Thursday. “Hand ‘em a little crypto check, right? We’ll ha...
“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.”
The Open Platform, a developer of Telegram-based protocols and apps built on The Open Network (TON), said Thursday that it has completed its Series A funding round, raising $28.5 million at a valuation of $1 billion. The round, led by Ribbit Capital, makes The Open Platform (TOP) the first crypto unicorn—or startup with a $1 billion valuation—in the Telegram blockchain ecosystem, the firm claimed. “TOP’s combination of expertise, capital, and our deep understanding of both TON and Telegram posi...
BitMine Immersion Technologies shares were halted twice on Thursday, as the firm's stock price soared for a third straight day after an early-week announcement of an Ethereum treasury strategy. The stock was halted shortly after 11 a.m. ET and then immediately again. BitMine shares closed at $135 on Thursday, a 130% increase, but fell to $118 in after-hours trading, according to Yahoo Finance. Since the company announced that Fundstrat founder and CIO Tom Lee was appointed board chair, shares h...
A consortium of Bitcoin-native investors is acquiring DV8, a Thai-listed firm primarily engaged in retail and consumer electronics distribution, in a bid to expand the Bitcoin treasury model into Southeast Asia's public markets. The consortium intends to acquire “at least 75%” of DV8’s registered capital through a Voluntary Tender Offer, according to a press statement shared with Decrypt. A notice of intent was published by the Stock Exchange of Thailand on Thursday. The group is led by backers...
