How the Trump Administration Uses Social Media to Manipulate Markets: From Meme Coins, Ethereum to Bitcoin
TechFlow Selected TechFlow Selected
How the Trump Administration Uses Social Media to Manipulate Markets: From Meme Coins, Ethereum to Bitcoin
Praising Bitcoin is the president's son repeating old tricks.
Navigating Web3 tides with focused insightsBy: DeThings Team
On February 6, Eric Trump reiterated his bullish stance on Bitcoin in a tweet, saying, "Feels like a good time to get into #BTC." He also tagged World Liberty Financial, a DeFi project associated with his family.
This isn't the first time the president's son has voiced optimism about Bitcoin. In an interview with Benzinga last December, Eric stated he holds Bitcoin, Ethereum, Solana, and Sui, adding, "I'm very bullish on Bitcoin and on crypto."
Late that month, during a keynote speech at the Bitcoin Middle East and North Africa conference in Abu Dhabi, Eric predicted Bitcoin could reach $1 million, viewing it as a revolutionary financial paradigm capable of reshaping the global economy.
"Bitcoin has completely changed the way we think about money, wealth, and the future... and also how our companies access capital," he said at the event. "The revolution isn't coming—it's already here."
Eric's remarks come as Bitcoin faces headwinds from economic uncertainty triggered by tariffs. On February 1, President Donald Trump announced new tariffs, sparking broad market sell-offs.
Since then, Bitcoin has been trading around $97,700, unable to sustain gains above $100,000, dropping 7% over the past seven days. Ethereum has fared even worse, plunging 37% from its recent high on January 31, marking one of its largest declines in recent history.
Praising cryptocurrencies is nothing new for the president's son. On February 4, Eric Trump also said: "Now is a good time to add ETH."
Within 18 hours of hitting its lowest point, Ethereum rebounded more than 35%, surging from around $2,300 to over $2,900 in less than a day. Since then, Ethereum prices have stabilized, trading around $2,830 as of February 6.
Manipulating Crypto Markets via Social Media
In recent months, Bitcoin has maintained strong upward momentum, but when Eric Trump made the above statements, Bitcoin's market structure was vastly different from Ethereum's. While his Ethereum tweet coincided with a market bottom and extreme oversold conditions, Bitcoin had been trading near all-time highs, leaving little room for a sudden reversal.
Eric Trump, though a relatively low-profile member of the Trump family, ties his financial views closely to his family's political positions. Some analysts view Eric’s comments as signals that directly impact markets. The rapid dissemination effect of social media enables retail investors and traders to react quickly, driving market volatility.
However, Eric Trump's statements are not merely expressions of personal investment opinions—they carry deeper political and economic motivations. The Trump family's relationship with the cryptocurrency market is complex, and Eric's tweets appear to influence market sentiment to some degree.
Moreover, Trump previewed the launch of his meme coin on Twitter beforehand. Even Elon Musk has used Twitter to boost Dogecoin, BAN, and others.
The Trump family is also involved in multiple crypto projects, including World Liberty Financial, which Eric participates in. The platform claims its mission is to promote cryptocurrency and decentralized finance (DeFi), although it does not publicly trade Bitcoin. Its portfolio includes significant crypto assets such as Ethereum (ETH) and Tron (TRX).
Before Trump's inauguration, the World Liberty team purchased over $70 million worth of crypto assets. This investment increased the entity's total crypto holdings to $325 million.
According to Arkham Intelligence data, the project transferred most of its cryptocurrency assets—including large amounts of ETH and WBTC—to Coinbase on Tuesday.
World Liberty's crypto portfolio has sharply shrunk, declining over 90% to approximately $34 million.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@DethingsNews
