Eric Trump takes shot at JPMorgan rethinking bitcoin after 'crapping' on asset

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Eric Trump takes shot at JPMorgan rethinking bitcoin after 'crapping' on asset The U.S. president's son, who co-founded American Bitcoin, said there's been a turnaround from traditional institutional firms now embracing bitcoin. By Jesse Hamilton | Edited by Nikhilesh De May 6, 2026, 6:07 p.m. 2 min read Make preferred on Eric Trump, co-founder of American Bitcoin and son of President Donald Trump, at Consensus Miami 2026 What to know : Eric Trump said the major institutional financial firms have realized they've lost to the crypto movement. The son of President Donald Trump co-founded mining operation American Bitcoin, and he said it's getting bitcoin for 50 cents on the dollar, trying to be the cheapest operation in the field. Eric Trump, the son of President Donald Trump and the co-founder of American Bitcoin (ABTC), said that bitcoin BTC $ 81,435.24 has reached a sharp influx of traditional financial giants, name-cheacking Bank of America Corp.'s Merrill division, Charles Schwab Corp. and JPMorgan Chase & Co. "JPMorgan, who was crapping all over bitcoin 18 months ago, saying it was a joke asset," Trump said on Wednesday at Consensus Miami 2026. "It's really interesting — now they're allowing people to take down home mortgages against their bitcoin holdings at JPMorgan, this happened in a period of 18 months, my friends." JPMorgan CEO Jamie Dimon had been a longtime critic of cryptocurrencies, though his bank has since been among those embracing blockchain technology and associated advances, including tokenization of assets. Trump, whose father has pursued aggressive pro-crypto policies from the White House, said the crypto industry has "broken the banks" that had once turned away the Trump family, rejecting their business. "The financial institutions all realize that they've lost and they can no longer push back," he said. "And so instead of actually fighting against the tide, you know what they're doing, they're swimming with it for the first time." American Bitcoin, a mining company that is ranked as the 16th largest public holder of bitcoin, is mining bitcoin at 50 cents on the dollar, said Trump, the company's chief strategy officer. He said the company is trying to establish the cheapest bitcoin acquisition in the sector. And he said bitcoin is "seeing a new torque" in the asset. "It's truly become one of the great stores of value ever," he said, repeating his frequent claim that the asset will eventually top a million dollars. Eric Trump American Bitcoin JPMorgan More For You Bermuda pushes stablecoin payments with USDC airdrop as it courts crypto firms, regulators By Krisztian Sandor | Edited by Jamie Crawley 52 minutes ago Premier David Burt said Bermuda's "onchain economy" plan aims to bring stablecoins into everyday commerce. What to know : Bermuda is expanding its on-chain economy initiative by distributing USDC stablecoins to residents and onboarding local merchants to accept digital payments. Premier David Burt said the goal is to build payment infrastructure outside traditional card networks and banking rails to lower costs and improve access for small businesses. Coinbase executive... Read full story Latest Crypto News The time is now: the Senate must act on crypto market structure legislation 43 minutes ago Bermuda pushes stablecoin payments with USDC airdrop as it courts crypto firms, regulators 52 minutes ago Crypto bill won't move without a ban on officials' industry ties, says U.S. Senator Gillibrand 1 hour ago The end of ads: Coinbase engineer says AI agents could kill the internet’s favorite business model 1 hour ago Kevin O’Leary says Wall Street’s tokenization boom is all talk without crypto rules 1 hour ago Crypto Long & Short: In quiet crypto markets, yield is the trade 2 hours ago Top Stories Bullish’s Equiniti deal could remake it into a tokenization powerhouse, Clear Street says 5 hours ago Bitcoin moves above $82,000 while ZEC and DASH post double-digit rallies 7 hours ago Morgan Stanley brings crypto trading with lower fees than rivals 5 hours ago Consensus Miami Day 2: Real-time coverage and highlights from on the ground 3 hours ago Crypto derivatives have converged with Wall Street. Equity perps could soon prove it. 10 hours ago Ripple CEO Brad Garlinghouse says Clarity better than chaos as Senate hits key moment May 5, 2026 In this article BTC BTC $ 81,435.24 ◢ 0.10 %