Eric Trump, son of the US President Donald Trump, has hailed China as “a hell of a power” in the crypto space, even though the nation has had a negative stance on digital asset trading since 2021.
At the Hong Kong Bitcoin Summit, Eric, while talking to Bitcoin Asia’s CEO David Bailey, said, “There is no question that you have made an unbelievable mark on cryptocurrencies…. There’s no question that China is a hell of a power when it comes to this world.”’
China, which banned all cryptocurrency trading as part of a broad crackdown four years ago, is now carefully considering options in the sector. This includes the possible creation of yuan-based stablecoins to boost its digital economy.
Conversely, the US appears to be welcoming cryptocurrencies and digital assets under the administration of Donald Trump, earning him the nickname “The Crypto President.”
The US House of Representatives recently passed three landmark bills related to digital assets and stablecoins. Furthermore, the President’s family’s businesses have embarked on several crypto ventures.
Trump and China’s Flourishing Bond
Bloomberg reported in July that Donald Trump was seeking to secure a summit with his Chinese counterpart, Xi Jinping, to de-escalate trade tensions following Trump’s announcement of sweeping global tariffs in April. When asked if Trump and Xi would discuss digital assets during any summit, Eric Trump said that “I would certainly love for them to talk about Bitcoin… they’ve probably got larger things to talk about.”
These comments also come amid the Trump family planning to expand their family-backed American Bitcoin globally, specifically targeting Asia-pacific. Following the Hong Kong Asia Bitcoin Summit, Eric Trump is expected to visit Tokyo, Japan, in September 2025 to attend a shareholder meeting of Japanese Bitcoin treasury firm Metaplanet Inc., to which Eric has served as an advisor since March 2025.
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