The Trump family has dived even deeper into the crypto world, as the president’s two oldest sons get into the mining game. After President Donald Trump launched a memecoin in January and a stablecoin earlier this month via World Liberty Financial, Eric and Donald Trump Jr. are turning prospectors as they bolster the Trump digital currency portfolio by acquiring a 20 percent stake in crypto-infrastructure company American Bitcoin, majority owned by Hut. The firm will merge with Eric and Don Jr.’s company American Data Centers as part of the deal. TheWall Street Journal reports that the deal is part of a grand scheme to create the world’s largest Bitcoin mining operation. Eric Trump, who will be American Bitcoin’s chief strategy officer, said: “We are a hard-asset family. I’m a hard-asset guy. My entire life has been spent building things, and I don’t think there is ever a better hedge against all of that than the true digital assets.” The Trumps have been all over digital currencies since the president announced his ambition in January for the U.S. to become the “crypto capital of the world.” Earlier this month, Trump signed an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
Read it at The Wall Street Journal
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