Eric Trump on what Fed rate cut means for crypto
Crypto bull Eric Trump says a Federal Reserve rate cut — which his father, President Trump, has been clamoring for — could give crypto prices a big boost.
“I just think you would potentially see this thing skyrocket,” Trump told Yahoo Finance, adding that because of crypto’s seasonality, there is particular room for growth in the fourth quarter. His crypto miner, American Bitcoin (ABTC), also backed by brother Donald Trump Jr., debuted on the Nasdaq in early September after a merger with Gryphon Digital Mining.
Trump added that lower borrowing costs would free up cash for riskier bets. Fed Chair Jerome Powell is widely expected to lower rates by 25 basis points on Wednesday, though the path for additional cuts remains…
