From blocked accounts to billions in crypto: Trump family’s financial shift

Eric Trump, son of U.S. President Donald Trump, stated that his family turned to cryptocurrency after facing banking difficulties following the Capitol incident in January 2021. Speaking at Consensus 2025, he revealed that several banks closed hundreds of Trump Organization accounts without explanation, forcing the family to rely on regional banks before switching to a new, undisclosed financial institution.

Eric Trump argued that the closures exposed the vulnerabilities of the traditional financial system, claiming that the measures were politically motivated. In March 2025, the Trump Organization filed a lawsuit against Capital One, alleging that the bank’s decisions were politically driven and caused significant losses.

The Trump family is now heavily involved in the crypto sector, with projects including the TRUMP token and World Liberty Financial, which launched the USD1 stablecoin. Eric Trump and Donald Trump Jr. also co-founded American Bitcoin, a subsidiary of Hut 8, which raised $220 million to purchase Bitcoin and mining equipment.

A report published in August 2025 estimated Donald Trump’s crypto-related wealth at $2.4 billion. Eric Trump has denied claims that the family profited from the presidency and suggested that a family member may run for the presidency in 2028.