Eric Trump is expected to attend a shareholder meeting of Japanese bitcoin treasury company Metaplanet in Tokyo on Monday, as the US president’s family expands its crypto ventures internationally.
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Eric Trump, the second son of President Donald Trump, was named in March as an adviser to Metaplanet, which holds more than US$2 billion in bitcoin, and his attendance would follow an appearance last week at the Bitcoin Asia conference in Hong Kong.
American Bitcoin, a miner of the cryptocurrency founded by Eric Trump and his brother Donald Trump Jnr, is aiming to list on the Nasdaq this month. Asher Genoot, CEO of the company that presently holds 80 per cent of American Bitcoin, said Eric Trump would attend the Metaplanet event, which was previously reported by Bloomberg.
Donald Trump has promised to be the “crypto president”, saying he backs the asset class because it can improve the banking system and increase the dominance of the US dollar.
Some of Trump’s businesses in areas such as crypto, which have added substantially to his wealth, benefit from US policy shifts under him and have invited criticism.
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Metaplanet stockholders are set to vote on a plan that would sell up to 550 million new shares overseas for 130.3 billion yen (US$884.41 million), with the bulk of the proceeds to be spent on buying more bitcoin.