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The outspoken crypto supporter told the New York Post on Friday that he believes stablecoins will actually “save the US dollar.” Not kill it. Not weaken it. He pointed to USD1, the U.S. dollar-backed stablecoin tied to the Trump family’s decentralized finance protocol, World Liberty Financial, which has faced intense scrutiny in Washington.
Case in point, Rep. Maxine Waters (D-Calif.) alleged earlier this year that President Trump was planning to replace the dollar with his USD1 stablecoin:
“Trump likely wants the entire government to use stablecoins from payments made by the Department of Housing and Urban Development, to Social Security payments, to paying taxes. And which coin do you think Trump would replace the dollar with? His own, of course.”
Conflict of interest questions have swirled around the President following reports that his personal fortune grew by over $2 billion from his crypto-related ventures since foraying into the industry in 2022.
 
Last month, Democratic senators, led by anti-crypto Elizabeth Warren, wrote a letter to the Comptroller of the Currency, Jonathan Gould, to express concerns over the Trump family’s crypto ventures. The lawmakers went on to claim that the recently passed GENIUS stablecoin law does not prevent the President and his family from financially benefiting from the issuance and sale of stablecoins.
Stablecoins As A Way To Extend The US Dollar Hegemony
Eric Trump is not the first high-profile executive to publicly declare that stablecoins only strengthen the dollar.
In February, Federal Reserve Bank Governor Christopher Waller revealed that he endorses the adoption of regulated stablecoins because they “will broaden the reach of the dollar across the globe and make it even more of a reserve currency than it is now.”
Then, in March, United States Treasury Secretary Scott Bessent said during the White House Crypto Summit that the US government will use stablecoins to ensure the US dollar maintains its hegemony in global financial markets.