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The outspoken crypto supporter told the New York Submit on Friday that he believes stablecoins will really “save the US greenback.” Not kill it. Not weaken it. He pointed to USD1, the U.S. dollar-backed stablecoin tied to the Trump household’s decentralized finance protocol, World Liberty Monetary, which has confronted intense scrutiny in Washington.
Working example, Rep. Maxine Waters (D-Calif.) alleged earlier this yr that President Trump was planning to interchange the greenback together with his USD1 stablecoin:
“Trump probably desires the whole authorities to make use of stablecoins from funds made by the Division of Housing and City Improvement, to Social Safety funds, to paying taxes. And which coin do you suppose Trump would change the greenback with? His personal, after all.”
Battle of curiosity questions have swirled across the President following reports that his private fortune grew by over $2 billion from his crypto-related ventures since foraying into the trade in 2022.
 
Final month, Democratic senators, led by anti-crypto Elizabeth Warren, wrote a letter to the Comptroller of the Foreign money, Jonathan Gould, to precise considerations over the Trump household’s crypto ventures. The lawmakers went on to say that the recently passed GENIUS stablecoin law doesn’t stop the President and his household from financially benefiting from the issuance and sale of stablecoins.
Stablecoins As A Means To Prolong The US Greenback Hegemony
Eric Trump is just not the primary high-profile govt to publicly declare that stablecoins solely strengthen the greenback.
In February, Federal Reserve Financial institution Governor Christopher Waller revealed that he endorses the adoption of regulated stablecoins as a result of they “will broaden the attain of the greenback throughout the globe and make it much more of a reserve foreign money than it’s now.”
Then, in March, United States Treasury Secretary Scott Bessent stated throughout the White Home Crypto Summit that the US authorities will use stablecoins to make sure the US greenback maintains its hegemony in world monetary markets.
