Eric Trump, executive vice president of the Trump Organization and son of U.S. presidential candidate Donald Trump, hinted at an imminent, significant announcement for the cryptocurrency sector on Tuesday. In a post on X, Eric Trump expressed his newfound passion for the industry: “I’m really in love with Crypto/DeFi. Stay tuned for the big announcement… @Trump @realDonaldTrump @DonaldJTrumpJr.”
This revelation happened quickly it echoed by his older brother, Donald Trump Jr., who added to the excitement with his tweet: “Big things are coming. This is the future!!!” It was unclear at the time of going to press what the announcement might be about.
Connecting the Cryptographic Dots
The announcements come on the heels of Donald Trump’s attendance at the Bitcoin 2024 conference, where he pledged to create a “strategic national bitcoin stockpile” using coins confiscated by the U.S. government.
There were sturdy rumors circulating ahead of the conference that Tesla CEO Elon Musk would speak alongside Trump at the conference. However, the rumor has not been confirmed. However, it looks like there is something to it. Donald Trump and Elon Musk will hold an “important interview” on Monday evening, it was announced via X.
David Bailey, conference organizer and Trump bitcoin adviser, he commented today via X: “What could have been relieved by what is.” SheBytes user X asked Bailey directly, “So Elon was a special guest that never materialized?” However, Bailey had not responded as of press time, leaving many to ponder the implications of what was expected versus what is now scheduled for the interview.
Amidst this backdrop of high expectations and major announcements, Trump’s DJT memecoin, which launched in June on the Solana blockchain amidst speculative links to Barron Trump, saw a catastrophic price drop yesterday. Some are attributing the massive sell-off to the “rug being pulled out” by developers associated with the project.
Interestingly, this sudden crash comes just weeks after controversy over the coin’s alleged ties to the former president, which were vehemently denied by his representatives. TylerD, a popular crypto analyst on X, saw a connection between the events.
“Eric Trump Says He’s Falling in Love with Crypto/DeFi. And He’s Making a Big Announcement. Interestingly, It Came Within 24 Hours of DJT Token Launch. New Trump Token Coming?” the Analyst Said he noticed. His comment underscores the timing of Eric Trump’s announcement regarding the DJT disaster, raising speculation about whether the upcoming announcement could include the launch of a up-to-date Trump-linked cryptocurrency.
At the time of going to press, DJT shares were trading at $0.00051, down more than 98% from their all-time high.
Featured image from Axios, chart from TradingView.com
