Eric Trump, Executive Vice President of the Trump Organization and son of U.S. presidential candidate Donald Trump, hinted at an upcoming major announcement for the crypto sector on Tuesday. In a post on X, Eric Trump expressed a newfound passion for the industry: “I’ve really fallen in love with Crypto/DeFi. Stay tuned for a big announcement… @Trump @realDonaldTrump @DonaldJTrumpJr.”
This revelation came quickly echoed by his older brother, Donald Trump Jr., who added to the excitement with his message: “Great things are coming. This is the future!!!” At the time of going to print, it was not yet clear what the announcement would be about.
Connecting the crypto points
These teasers come hot on the heels of Donald Trump’s attendance at the Bitcoin 2024 conference, where he promised settle a “strategic national Bitcoin stockpile” containing the coins seized by the US government.
Before the conference there were strong rumors that Tesla CEO Elon Musk could speak with Trump at the conference. The rumor has not come to fruition. But it seems there is some truth to it. Donald Trump and Elon Musk will do a “major interview” on Monday night, as announced via X.
David Bailey, conference organizer and Trump’s Bitcoin advisor, comment given Today via X: “What could have been relieved by what is.” X user SheBytes asked Bailey directly, “So Elon was the special guest who never showed up?” However, Bailey did not provide an answer as this article went to print, leaving many to wonder about the implications of what was expected versus what is now planned for the interview.
Against this backdrop of high expectations and major announcements, Trump memecoin DJTwhich launched on the Solana blockchain in June amid speculative ties to Barron Trump, saw a catastrophic price drop yesterday. The massive sell-off is being attributed by some to a “rug pull” by developers associated with the project.
Interestingly, this sudden crash came just weeks after controversies over the coin’s alleged connections to the former president, which were strongly denied by his representatives. TylerD, a popular crypto analyst on X, drew connections between these developments.
“Eric Trump says he’s fallen in love with Crypto/DeFi. And hints at a big announcement coming. Interestingly enough, this comes within 24 hours of the DJT token backing. A new Trump token on the way?” the analyst noticedHis comments highlight the timing of Eric Trump’s announcement relative to the DJT debacle, raising speculation whether the upcoming announcement could involve the launch of a new Trump-affiliated cryptocurrency.
At the time of writing, DJT was trading at $0.00051, a drop of over -98% from its all-time high.
Main image from Axios, chart from TradingView.com