Fintech
President Donald Trump’s businessman and son, Eric Trump, stepped into the debate on digital currency, claiming that stubcoins serve as a lifeline for the US dollar.
Talking To the New York Post, he argued that a well-regulated, stylized stylized stylized “saves the dollar” when its role as the dominant reserve currency of the world is under pressure.
World Liberty Financial’s controversial Stablecoin
Eric Trump pointed to USD1, and Stubcoin was launched earlier this year by his family’s blockchain venture, World Liberty Financial (WLFI), as an example of how tokenized dollars can enhance US money. This initiative was not without controversy. Washington lawmakers and legal experts have criticised the WLFI and warned that the incumbent president’s direct involvement in profit-generating stability coins could create conflicts of interest and blur constitutional boundaries.
Democrats, including Maxine Waters and a group of five senators, accused Donald Trump of trying to use him for political and personal gain earlier this year. Their concerns were amplified after reports surfaced that the president’s crypto-related venture had increased his personal fortune by billions.
Supporters see strategic value
Despite political criticism, some financial and government voices see stubcoin as a tool to strengthen US currency rather than undermine it. Federal Reserve member Christopher Waller recently proposed that dollar-backed stubcoins would expand the global reach of greenbacks and make them more accessible in international markets.
Industry leaders reflect this view. Layerzero Labs CEO Bryan Pellegrino described the “most powerful tool” available to maintain US financial control, particularly as competing currencies and alternative payment systems challenge the dollar’s advantage.
Split Global View
Not everyone agrees. Certain European institutions have warned that America promotes and could backfire in the long term through acts of genius passed under the Trump administration to regulate and promote American stubcoins. By securing digital dollars in global markets, the US argues that it could unintentionally increase systemic risks and undermine trust in the Fiat system that supports them.
Conclusion
Eric Trump’s stubcoin defense adds another layer to the already intense debate about their role in the financial system. For supporters, they represent ways to digitize and extend the impact of the US dollar. For critics, they blur the line between state power and private interests – especially when bound by the president’s own family business. As new regulations are shaped and rival nations move forward with their own digital currency projects, the question remains whether stablecoins will solidify or complicate control of the dollar in the coming years.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over eight years of experience covering the crypto, blockchain and fintech industries, he is familiar with the complex and evolving world of digital assets. His insightful and thought-inducing articles give readers a clear grasp of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and detailed content. Follow his publications to keep you up to date with the most important trends and topics.