Eric Trump Defends Family Crypto Venture Amid Scam Allegations, Blasts ‘China-Controlled’ Media

Eric Trump is on the defensive as mounting reports from The Wall Street Journal and Forbes spotlight serious questions about the Trump family’s crypto empire, World Liberty Financial (WLFI), and its related ventures. The fallout comes amid retail investors losing big and allegations that WLFI’s dealings resemble classic crypto rug pulls.

In a recent post on X, Eric Trump touted American Bitcoin (ABTC), the NASDAQ-listed mining company he founded, highlighting its impressive stats: over 7,000 Bitcoin holdings, nearly 90,000 active miners, and $78.3 million in Q4 revenue—a 22 percent increase. He painted ABTC as a patriotic success story powered by clean American energy.

But Eric’s post quickly turned combative, accusing Forbes of being “acquired by China” and weaponized for political attacks against him and his family. He claimed Forbes’ coverage of WLFI and affiliated crypto projects is “politically motivated propaganda,” likening it to past attacks he faced for personal reasons.

The reality on the ground is far grimmer. Forbes and WSJ reports have detailed how WLFI partnered with a crypto project tied to two men sanctioned by the US for running a major scam ring. The WSJ revealed that WLFI’s USD1 stablecoin operates on this dubious network, raising red flags about the family’s due diligence and the legitimacy of their DeFi ventures.

WLFI dismissed the partnership as a “limited non-exclusive technology integration,” but critics see it as a reckless move that drags the Trump brand into the murky underworld of crypto fraud. The Trump family’s crypto tokens, including the TRUMP memecoin and WLFI’s DeFi project, have lost over 90 percent of their value from peak prices, fueling accusations of predatory practices and investor abuse.

This controversy fits a broader pattern of the Trump family using political influence to push risky financial schemes with little transparency or accountability. As retail investors suffer losses, the Trump camp’s attempt to discredit critical media as “China-controlled” only deepens suspicions of deflection.

At a time when crypto scams are under intense scrutiny, the Trump family’s WLFI project stands exposed as another example of self-dealing and reckless grift, demanding rigorous oversight and accountability. We will keep tracking these developments as they unfold.