Donald Trump’s son Eric Trump advised his followers on X yesterday that it’s a “great time” to purchase ether (ETH) earlier than eradicating a well mannered reminder from his publish that advised his followers to thank him for his monetary recommendation.
Trump posted, “In my opinion, it’s a great time to add $ETH. You can thank me later” at 4:52 pm (EST). He eliminated the “thank me later” line half-hour later.
The worth of ETH shot up 5.5% from $2,748 to virtually $2,900 within the wake of this publish but it surely has since fallen 6.9% to $2,700.
World Liberty Monetary (WLF) gold paper lists Eric Trump as a “web3 ambassador” beneath the crypto challenge’s supporting workforce. Hours earlier than this publish, WLF despatched 73,783 ETH (now value $202 million) to Coinbase Prime.
It additionally despatched Coinbase Prime roughly $95 million value of crypto property, together with USDC, WBTC, AAVE, LINK, ENA, MOVE, and ONDO.
At 10:46 am (EST), WLF mentioned it was transferring its crypto holdings “as part of regular treasury management, and payment of fees and expenses and to address working capital requirements.”
It added, “To be clear, we are not selling tokens — we are simply reallocating assets for ordinary business purposes.”
Spot on Chain additionally advised Cointelegraph that the funds is perhaps used to help WLF’s non-operational “Earn and Borrow” lending protocol.
That mentioned, many customers described his ETH endorsement as a felony act. One person on X mentioned, “Eric Trump will probably go down in history as the greatest crypto market manipulator of all time,” earlier than noting, “it’s not crime if your dad is the president of the USA.”
Crypto influencer Zion Thomas, aka “Ansem,” mentioned, “They’re gonna should give you a brand new phrase for market manipulation after this cycle is over.