Donald Trump Jr.: The family business was "completely shut down" after 2016, which pushed his father to change his stance on Bitcoin

PANews reported on May 28 that, according to CoinDesk, Donald Trump Jr., the eldest son of U.S. President Trump, revealed at the Bitcoin 2025 conference that after his family was blocked from banking services for political reasons, he and his younger brother Eric pushed for their father's change of stance on cryptocurrencies. Trump Jr. said the post-2016 "total lockdown" of family businesses (disruptions to banking, insurance, and other services) made him realize the fragility of the traditional financial system. Although in 2021 Trump had called Bitcoin a scam, he "quickly understood the technology" after the two brothers' explanations. He ridiculed Vice President Kamala Harris and other politicians as following the trend in favor of cryptocurrencies and said that financial democratization is one of the administration's core goals.

Although crypto projects such as TRUMP, a meme coin issued by the Trump family, have been criticized for their lack of transparency, Trump Jr. believes that current regulatory developments such as stablecoin legislation will help Bitcoin rise.

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