Eric Jr. Trump has warned traditional banks, stating that the blockchain technology is more efficient than the current traditional financial operations. He added that without these modern technologies, the current financial system risks becoming irrelevant and obsolete. “The modern financial system is broken—it’s slow, it’s expensive,” Trump stated.
Eric Trump on Traditional Bank and Blockchain Adoption
Eric, who is also the Trump Organization executive VP said during an interview. Trump argued that blockchain technology offers a more efficient alternative to outdated financial infrastructures.
“There’s nothing that can be done on blockchain that can’t be done better than the way that the current financial institutions are working,” he said. He specifically criticized SWIFT, the international banking communications network, calling it “an absolute disaster.”
Trump described the current banking model as “antiquated,” saying it disproportionately benefits the ultra-wealthy while excluding the average person.
“The banking system was weaponized against the vast majority of people in our country,” he said, claiming that those who wore MAGA hats or didn’t have high account balances were effectively locked out of fair access. “It forced me into the crypto world. And I’m telling you, if the banks don’t watch what’s coming, they’re going to be extinct in 10 years.”
Trump’s pro-crypto stance aligns with the broader outlook of the current Trump administration. Under President Donald Trump’s leadership, the federal government has adopted a more favorable posture toward the crypto industry. In recent months, investigations into major platforms like Yuga Labs, Kraken, Coinbase, and Robinhood have reportedly been scaled back, signaling a shift in regulatory priorities.
The Trump family’s interest in crypto also reached their personal business realm. Both Donald and Melania Trump have launched their own meme coins, drawing scrutiny from political leaders concerned about potential conflicts of interest between public policy and private financial gain
At the Bitcoin MENA 2024 conference, he had also predicted that Bitcoin could soar to $1 million—a bullish outlook in a market known for its volatility. As of late Tuesday, Bitcoin was trading near $95,000.
Also Read: Trump Tower Dubai To Accept Crypto Payments
