Crypto-Friendly Trump Tower Dubai on the Horizon
Trump-Linked Development in Dubai to Accept Cryptocurrencies for High-End Residences Payment
A major shift is underway for the Trump Organization as their luxury tower, worth a whopping $1 billion, prepares to accept crypto for property sales upon completion. This strategic move is the latest venture into digital assets, solidifying their partnership in the Gulf region.
In an exclusive interview with The National, Eric Trump, son of the former U.S. president, praised Dubai's transformation into a global powerhouse, attracting investors from every corner of the world. Accoridng to him, "Dubai has really become the epicentre."
This isn't the Trump Organization's first rodeo in Dubai, as they've previously partnered with Damac Properties on two golf developments. Coming up next is the Trump International Hotel and Tower, featuring a branded hotel, luxury residences, clubhouse, and the highest pool in the world. The project is set to be completed in roughly five years.
Prices for apartments range from $1 million to $1.3 million for three and four-bedroom units, along with two penthouses selling for a jaw-dropping $20.4 million each.
When Opulence Meets Underworld
While Dubai markets itself as a crypto haven, it's no secret that the city has been a prime spot for less-reputable individuals to stash their cash. Numerous investigative reports have revealed that behind its glittering facade, Dubai's property sector has come under scrutiny for its opacity and alleged role as a haven for ill-gotten funds.
In 2023, a massive property data leak exposed just how much criminal and sanctioned individuals have invested in the Dubai real estate market. Dubai's secrecy has also played a role in shielding high-profile offenders linked to money laundering networks, drug trafficking, and other organized crime activities, according to the Organized Crime and Corruption Reporting Project (OCCRP).
Trump's Crypto Crusade Extends to Dubai
This announcement is the latest chapter in the Trump family's ever-expanding crypto ventures. What started with branded NFTs has grown into a vast portfolio of crypto-related projects, including meme coins, digital assets, partnerships with crypto companies, and even endorsements of the crypto sector. And let's not forget about the potential integration of crypto into the social media platform, Truth Social.
High-tier investors can secure access to exclusive events, like dinners with the former president himself. Eric Trump has taken on an advisory role with Japan-based firm Metaplanet, while he'll be speaking on a panel at this week's Token2049 in Dubai.
Edited by Sebastian Sinclair
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- The Trump Organization's luxury tower worth $1 billion is set to accept cryptocurrency for property sales, a significant move in the realm of digital assets.
- Eric Trump praised Dubai, stating it has become the epicenter, attracting investors worldwide.
- The Trump International Hotel and Tower, featuring a branded hotel, luxury residences, clubhouse, and the highest pool in the world, is the next venture in Dubai for the Trump Organization.
- Apartment prices in the tower range from $1 million to $1.3 million for three and four-bedroom units, with two penthouses selling for $20.4 million each.
- While Dubai markets itself as a crypto haven, investigative reports have revealed concerns about its property sector's opacity and allegations of a haven for ill-gotten funds.
- In 2023, a massive property data leak exposed criminal and sanctioned individuals' investments in the Dubai real estate market.
- The Organized Crime and Corruption Reporting Project (OCCRP) links Dubai's secrecy to shielding high-profile offenders linked to money laundering, drug trafficking, and organized crime activities.
- The Trump family's crypto ventures have expanded beyond branded NFTs to include meme coins, digital assets, crypto company partnerships, and crypto sector endorsements.
- High-tier investors can access exclusive events like dinners with the former president, as Eric Trump takes on an advisory role with the Japan-based firm Metaplanet.
- Eric Trump will be speaking on a panel at this week's Token2049 in Dubai.
- The potential integration of crypto into social media platforms, such as Truth Social, is another aspect of the Trump family's growing crypto endeavors in the finance, real-estate, and technology industries.
