TL;DR
- Eric Trump claims that stablecoins could “save the dollar” and highlights USD1, linked to the family project WLFI, which has faced criticism in Washington.
- Critics and lawmakers warn of conflicts of interest; five senators and Representative Maxine Waters caution that Trump could profit financially.
- Experts agree on the potential of stablecoins to reinforce the dollar’s hegemony, although some, like Amundi, warn they could threaten its long-term dominance.
Eric Trump, son of former U.S. President Donald Trump and a businessman with multiple crypto ventures, stated that stablecoins could “save the U.S. dollar.” In an interview with The New York Post, he highlighted USD1, the stablecoin tied to the family project World Liberty Financial (WLFI), which has come under intense scrutiny in Washington.
When WLFI’s plans were made public in late March, several critics raised concerns about conflicts of interest. Attorney Andrew Rossow described the stablecoin as “a direct attack on constitutional safeguards designed to prevent conflicts of interest.”
Representative Maxine Waters even suggested that Donald Trump might attempt to replace the U.S. dollar in government payments—from Housing and Urban Development to Social Security and taxes—using his own stablecoin.
Five Democratic senators warned that a sitting president’s direct financial stake in a stablecoin poses “unprecedented risks to the financial system.” In August, Senators Elizabeth Warren, Chris Van Hollen, and Ron Wyden sent a letter to the Office of the Comptroller of the Currency noting that the recently approved stablecoin law does not prevent Trump or his family from financially benefiting from these coins.
The Trump Family Gained $2.4 Billion from the Crypto Market
The Trump administration advanced U.S. stablecoin regulation through the GENIUS Act, signed into law on July 18, 2025. Critics pointed out that the President’s personal fortune had grown by roughly $2.4 billion since entering the crypto market in 2022, largely thanks to stablecoin-related projects.
Eric Trump is not the only one who sees these coins as a way to reinforce the dollar’s dominance. Federal Reserve Governor Christopher Waller stated that adopting stablecoins “will expand the reach of the dollar globally and strengthen its status as a reserve currency.”
Bryan Pellegrino, founder and CEO of LayerZero Labs, added that stablecoins could be “the last Trojan Horse or vampire attack on every other currency in the world.” However, some actors, such as European asset manager Amundi, warned that more favorable stablecoin regulation could threaten the dollar’s long-term dominance
