Outside Source
Eric Trump, who is involved in the Trump family’s World Financial Liberty platform, told his followers it’s a good time to buy Ether.
News
Ether rebounded to above $2,900 after US President Donald Trump placed a halt on tariffs aimed at Canada and Mexico, while his son, Eric Trump, told his 5.4 million X followers that “it’s a great time to add ETH.”
“In my opinion, it’s a great time to add $ETH. You can thank me later,” Trump wrote in a Feb. 3 X post. However, he has since edited the post to remove those last five words.
Source: Eric Trump
Eric Trump’s remarks came after a crypto market bloodbath across Feb. 2 and 3 — triggered largely by President Trump’s proposed tariffs — which included Ether (ETH) plummeting 16% in a single hour to a local low of $2,368.
Ether had already recovered to around $2,700 before Trump’s post after his father agreed to put a temporary hold on proposed tariffs on Canada and Mexico as negotiations with the countries continue.
ETH continued to rise to reach $2,913 before falling back to its current price of $2,806.
World Liberty Financial makes crypto moves
All this comes as the Trump family’s World Liberty Financial crypto platform recently transferred $307.41 million worth of assets to Coinbase’s custody platform on Feb. 3, according to blockchain analytics firm Spot On Chain.
WFL then unstaked nearly 20,000 Lido Staked Ether (stETH) into Ether and spent another $5 million worth of USD Coin (USDC) to purchase 1,826 Ether at $2,738, Spot On Chain said.
In a note to Cointelegraph, Spot On Chain suggested the funds could be used to support WLF’s “Earn and Borrow” lending protocol, which isn’t fully operational yet.
Related: Inside Trump’s crypto agenda: Memecoins, SEC task force and Bitcoin reserve plans
In January, the Ethereum Foundation announced a series of organizational changes to more actively support developers in Ethereum’s decentralized finance ecosystem. The foundation set aside 50,000 Ether, which could be used to expand the foundation’s treasury through staking rewards.
Ethereum core developer Eric Conner said the foundation’s staking rewards could cover most, if not all, of its internal budget while easing some of the selling pressure that has upset the community, and arguably contributed to its lackluster price performance this bull cycle.
Meanwhile, institution-focused Ethereum marketing firm Etherealize launched on Jan. 22 to help pitch Ethereum’s bull case to Wall Street.
Magazine: Pectra hard fork explained — Will it get Ethereum back on track?
This article first appeared at Cointelegraph.com News
