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Banking Challenges Prompt Trump Family to Invest in Cryptocurrency

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by Giorgi Kostiuk

an hour ago

The Trump family, facing banking account closures in 2021, has decided to pivot to cryptocurrency and actively invest in Bitcoin.

Bank Account Closures

Following the closure of numerous bank accounts in 2021, the Trump family led by Eric Trump decided to embrace new technologies such as cryptocurrency and asset tokenization.

Trump Family's Financial Strategy

Eric Trump, serving as the Executive VP of Trump Organization, noted that more than 50% of his time is dedicated to crypto projects. Additionally, Donald Trump Jr. is a co-founder of American Bitcoin. These steps highlight the family's new approach to finances in light of their banking challenges.

Impact on Cryptocurrency Market

The Trump family holds approximately $2.4 billion in cryptocurrency. Their involvement in the crypto market may not only affect individual assets but also broader trends related to asset tokenization and the use of Bitcoin and Ethereum.

The Trump family's shift to cryptocurrency following issues with traditional banking institutions could alter their financial model and impact various regulatory and crypto-economic discussions.

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