Donald Trump’s son Eric Trump informed his followers on X yesterday that it’s a “great time” to purchase ether (ETH) earlier than eradicating a well mannered reminder from his put up that informed 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 nearly $2,900 within the wake of this put up nevertheless it has since fallen 6.9% to $2,700.
World Liberty Monetary (WLF) gold paper lists Eric Trump as a “web3 ambassador” underneath the crypto undertaking’s supporting group. Hours earlier than this put up, 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 informed Cointelegraph that the funds could be used to help WLF’s non-operational “Earn and Borrow” lending protocol.
That mentioned, many customers described his ETH endorsement as a legal act. One consumer 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.
