Eric Trump: They throw Crypto at me, I build a "small" building with Crypto.
Written by: Bright, Foresight News
During Token2049 Dubai, the Trump family has made another move.
On the evening of April 29, according to The National, Eric Trump, executive vice president of the Trump Organization, revealed that the company will collaborate with London-listed Dar Global to launch a $1 billion development project in Dubai, which will include a Trump-branded hotel, residential units, and a club. The building will be located at the entrance of Dubai City Center on Sheikh Zayed Road, expected to be completed within five years. The project will accept cryptocurrency payments. This is not the first real estate in the Trump family's Middle Eastern business portfolio, but it is the first building directly linked to cryptocurrency by Eric Trump.
On April 30, according to The Block, the Trump Media & Technology Group plans to launch a utility Token for Truth Social. The Token will be integrated into the Truth digital wallet, initially used to pay for Truth+ subscription fees, with potential future expansion to other products and services within the Truth Social ecosystem.
The Trump family, having tasted success in the crypto realm through political influence, continues to expand their crypto territory. Eric Trump has clearly become the crypto "vanguard" of the Trump family.
[The rest of the translation follows the same professional and accurate approach, maintaining the specific translations for crypto-related terms as specified in the initial instructions.]On March 2, after the Trump administration announced the possibility of exploring crypto assets as national reserves, Eric quickly followed up, calling for "long-term holding of cryptocurrencies, the future is decentralized". Even the tweet about national reserves on Trump's X account was closely related to Eric. However, the next day, after Ethereum surged and then crashed by 17.5%, the decline within a week expanded to 30%, reaching a low of $1,410. On-chain analysts discovered that WLFI had accumulated sales of 86,000 ETH (approximately $235 million) during this period, with a huge price difference between its holding cost price ($3,354) and market price ($1,550), once again exposing its awkward "buy high, sell low" situation. On X, the topic #NeverTrustEric (Never Trust Eric) once exceeded #Bitcoin, and community members began spontaneously compiling an "Eric Shill Index" as a market risk warning signal.
Momentarily, WLFI became the target of market criticism, with account losses from sales exceeding hundreds of millions of dollars, and was suspected of hedging profits through derivatives off-market. WLFI's business model was also criticized again - WLFI has raised $550 million through governance token issuance, but token holders only have voting rights without dividend rights, and the official website clearly states that "token purchase should not be for profit purposes". "This is essentially a capital game that doesn't need to be responsible to investors," commented Chainalysis, a crypto compliance agency, "Political families exploit regulatory gray areas, transforming social media influence into financial harvesting tools".
However, this does not affect the continued construction of the Trump Tower in Dubai. Eric Trump knows that the crypto world needs the political influence of the Trump family, and he will continue to shill.
