On February 3, 2025, Eric Trump, son of U.S. President Donald Trump, made waves in the cryptocurrency community with a tweet that read, “In my opinion, it’s a great time to add $ETH. You can thank me later.” This statement, which was later edited to remove the phrase “You can thank me later,” coincided with a volatile period for Ethereum (ETH) and the broader crypto market, fueling speculation about its implications and timing.

Ethereum’s Price Volatility and Market Recovery

Ethereum, the second-largest cryptocurrency by market capitalization, had recently experienced significant price swings. Following a market downturn triggered by President Trump’s proposed tariffs on Canada and Mexico, ETH plummeted 16% in a single hour, hitting a local low of $2,368 on February 2 and 3. However, the market began to recover after President Trump announced a temporary halt on these tariffs, allowing negotiations to continue. By the time of Eric Trump’s tweet, ETH had already rebounded to around $2,700, eventually peaking at $2,913 before settling at approximately $2,806.

Eric Trump’s endorsement came at a pivotal moment, as the crypto market sought stability amid geopolitical and economic uncertainties. His tweet not only amplified Ethereum’s recovery but also drew attention to the Trump family’s growing involvement in the cryptocurrency space.

The Trump Family’s Crypto Ventures: World Liberty Financial

The timing of Eric Trump’s statement raised eyebrows, particularly in light of recent activities by World Liberty Financial (WLF), a decentralized finance (DeFi) project backed by the Trump family. On February 3, WLF transferred $307.41 million worth of assets, including significant amounts of ETH, to Coinbase’s custody platform. Blockchain analytics firm Spot On Chain reported that WLF unstaked nearly 20,000 Lido Staked Ether (stETH) into ETH and spent $5 million in USD Coin (USDC) to purchase 1,826 ETH at $2,738. These moves were described by WLF as routine asset reallocations for business purposes, not a sell-off.

Eric Trump’s role as a “Web3 Ambassador” for WLF further fueled speculation. His bullish stance on Ethereum aligns with the project’s substantial ETH holdings, which reportedly constitute 65% of its $421 million portfolio as of February 2. This connection led some to interpret his tweet as a strategic move to reassure investors amid concerns about WLF’s asset transfers.

Market Reaction and Community Response

Ethereum’s price surged 5.5% following Eric Trump’s tweet, climbing from $2,748 to nearly $2,900. However, the rally was short-lived, with ETH later falling back to $2,700. The crypto community’s response was mixed. Supporters of Ethereum saw the endorsement as a positive signal, especially given the Trump family’s influence and WLF’s significant ETH holdings. Institutional interest in Ethereum, evidenced by record inflows into BlackRock’s ETHA ETF, further bolstered optimism.

Critics, however, raised concerns about market manipulation. Some X users accused Eric Trump of leveraging his platform to influence ETH’s price, with one commenter stating, “Eric Trump will probably go down in history as the greatest crypto market manipulator of all time.” Bitcoin advocates, such as Pierre Rochard of Riot Platforms, dismissed the endorsement, emphasizing Bitcoin’s dominance over Ethereum.

Ethereum’s Future and Political Influence

Eric Trump’s tweet has reignited discussions about Ethereum’s potential trajectory. Proponents highlight Ethereum’s role as the backbone of DeFi, NFTs, and smart contracts, as well as upcoming upgrades like the Pectra hard fork in March 2025, which aims to enhance scalability. Analysts predict ETH could reach $10,000 or even $15,000 by the end of 2025, driven by institutional adoption, regulatory clarity, and technological advancements.

The Trump family’s involvement in crypto, particularly through WLF, adds a political dimension to the narrative. President Trump’s pro-crypto stance, including proposals for a Bitcoin reserve and a sovereign wealth fund, has positioned his administration as a potential ally for the industry. Eric Trump’s endorsement of Ethereum could signal broader support for altcoins, though it also raises questions about conflicts of interest given WLF’s financial stake in ETH.

Literally A Double-Edged Sword

Eric Trump’s tweet has undeniably stirred the crypto market, amplifying Ethereum’s recovery and sparking debate about its motives and implications. While it has bolstered optimism among ETH investors, it has also drawn scrutiny over potential market manipulation and the Trump family’s financial interests. As Ethereum navigates a complex landscape of technological innovation, regulatory challenges, and political influence, Eric Trump’s endorsement serves as a reminder of the crypto market’s susceptibility to high-profile voices. Whether his advice proves prescient remains to be seen, but it has undoubtedly added a new layer of intrigue to Ethereum’s 2025 outlook.