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illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: Eric Trump has emerged as one of the most prominent advocates for cryptocurrency within the Trump family’s business network
• His shift toward digital assets began after U.S. banks severed ties with Trump family accounts in early 2021, a move he describes as politically motivated
• Since then, he has positioned himself at the forefront of efforts to integrate crypto into the family’s ventures, from real estate to hospitality
🔭 The context: The Trump Organization’s pivot to crypto mirrors broader U.S. conservative political currents that frame digital assets as tools for financial independence and resistance to institutional “de-banking"
• Donald Trump, who once dismissed Bitcoin as a “scam,” has also softened his stance, especially as Republican strategists court the crypto industry’s growing influence and financial backing
• The sector has gained visibility during the 2024–25 election cycle as regulation, taxation, and global competitiveness become major policy battlegrounds
🌍 Why it matters for the planet: The rise of high-profile political and business figures in crypto fuels debates about the industry’s sustainability footprint, given concerns over energy-intensive mining and blockchain emissions
• At the same time, the technology is being promoted as a disruptive tool for financial inclusion, digital infrastructure, and global payments
• The Trump family’s entry into the space exemplifies how political power, business interests, and climate responsibility intersect in shaping the future of finance
⏭️ What's next: Eric Trump is expected to expand his crypto involvement through family-branded ventures and potential policy influence should Donald Trump’s administration return to power
• Industry observers anticipate more direct clashes over U.S. regulatory frameworks, with Republicans leaning toward pro-innovation deregulation while Democrats stress climate and consumer risks
• The international financial community will closely watch whether U.S. policy under political pressure accelerates or undermines global climate goals tied to digital finance
💬 One quote: “Banks made me this way.” – Eric Trump, on why he embraced crypto after traditional financial institutions cut ties with the family
📈 One stat: The Trump family reportedly lost access to hundreds of business accounts across multiple banks in early 2021, accelerating their pivot toward crypto assets
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