Eric Trump at Consensus 2025: Banks Made ‘Biggest Mistake’ by Attacking Crypto

At Consensus 2025 conference in Toronto, Eric Trump, co-founder of American Bitcoin and the son of U.S. President Donald Trump, delivered a passionate message about the growing divide

At the Consensus 2025 conference in Toronto, Eric Trump, co-founder of American Bitcoin and son of U.S. President Donald Trump, spoke about the growing divide between the Trump family and the banking sector in an unusually passionate tone.

“There’s a famous saying that sometimes the enemy of your enemy is actually your best friend,” Trump told the audience, adding, “That was the Trumps with the crypto community. And I think the banks made the biggest mistake of their lives.”

Trump’s involvement in cryptocurrency stemmed from his experience facing significant pushback from major financial institutions due to his political stance. He shared his experience of being “canceled” by the banking industry, describing how it sparked his interest in cryptocurrency as a protective measure against financial gatekeeping.

“So many of the banks have been weaponized, and I was case in point,” he said. “I was probably the most canceled person for doing absolutely nothing wrong, only because we had a political view that might not have been popular with some of the big financial institutions.”

This, he explained, ultimately led him to join the cryptocurrency sector, which he sees as less susceptible to political biases.

“We’re not interested in what your political affiliation is. We’re interested in what token you hold and what chain you’re on,” Trump elaborated.

Alongside Trump on stage were the co-founders of World Liberty Financial (WLF), a company that recently launched the USD1 stablecoin, backed by the U.S. dollar. Trump, who also advises WLF, highlighted the coin’s growth, noting its impressive $2 billion market cap. The company also announced that USD1 is now operable across multiple blockchains via Chainlink’s Cross-Chain Interoperability Protocol (CCIP).