Eric Trump Says Stablecoins Could “Save the US Dollar” Amid Conflict Concerns

Eric Trump Says Stablecoins Could “Save the US Dollar” Amid Conflict Concerns

Eric Trump Defends Stablecoins and His Family’s Crypto Project

Eric Trump, son of U.S. President Donald Trump, told the New York Post that stablecoins could “save the U.S. dollar,” defending his family’s growing footprint in the digital asset space.

In the interview published Friday, Trump pointed to USD1, the stablecoin issued by the Trump-backed World Liberty Financial (WLFI) project, which has already drawn significant scrutiny in Washington.

When WLFI was first unveiled in March, critics raised alarm over conflicts of interest. Attorney Andrew Rossow described the project as “a direct affront to constitutional safeguards meant to prevent conflicts of interest.”

Political Opposition Grows

The concerns have only deepened. In April, Representative Maxine Waters suggested that Donald Trump could try to replace the U.S. dollar with his own stablecoin, potentially embedding it in everything from Social Security payments to federal tax collection.

By March, five Democratic senators had already warned that a sitting president holding a direct financial stake in a stablecoin created “unprecedented risks to our financial system.”

Trump Administration Pushes Stablecoin Law

Despite the criticism, President Trump advanced the GENIUS Act, a bill regulating U.S. stablecoins, which he signed into law on July 18. By August, watchdogs noted that the president’s personal fortune had grown by roughly $2.4 billion from crypto ventures since entering the industry in 2022.

In response, Senators Elizabeth Warren, Chris Van Hollen, and Ron Wyden wrote to the Office of the Comptroller of the Currency in early August, warning that the law fails to prevent Trump and his family from profiting directly from stablecoin issuance.

The Debate Over Stablecoins and the Dollar

Eric Trump’s comments add to a broader debate about stablecoins and the future of the U.S. dollar.

Back in February, Federal Reserve Governor Christopher Waller said he supports stablecoins, arguing they could extend the dollar’s global reach as a reserve currency. Similarly, LayerZero Labs CEO Bryan Pellegrino described stablecoins as a “Trojan Horse” for U.S. dollar dominance over other currencies.

But critics remain unconvinced. In July, European asset manager Amundi warned that favorable U.S. stablecoin laws could actually weaken the dollar’s long-term dominance, rather than secure it.