Eric Trump, son of American President Donald Trump and vice -president of the Trump Organization, has made striking statements about the future of the financial system. In an interview with CNBC, he said today undundently: “Banks must embrace crypto or they will disappear within 10 years.”
The current system is outdated
According to Eric Trump, the traditional financial system is “broken, slow and expensive.” He states that the system only favored the ultra -rich:
“As a result, I entered the crypto world myself. And I tell you: if banks don’t pay attention, they will be extinct in ten years.”
Trump believes that blockchain technology is superior to existing networks such as Swift.
“Everything that can be done via blockchain works better than how traditional financial institutions do it now. You can already send money directly with a Defi app or any other crypto app, from wallet to wallet, without costs or delay.”
Although many banks worldwide are still opposed to crypto, the sector remains positive about adoption. Trump emphasizes that banks cannot ignore the rise of crypto. He adds that Swift is an outright disaster, referring to the logger nature of the current international payment transactions.
Eric Trump’s invloed
His warnings do not fall from the sky. In December 2024, Eric Trump predicted that Bitcoin could reach $ 1 million and that governments would have no choice than to adapt. Since then, Eric Trump has been putting himself on the map as an influential figure in the cryptowereld. He is working hard with World Liberty Financial (WLFI) and is also an adviser to the Japanese Metaplanet, a well-known listed Bitcoin holder.
Eric Trump’s statements follow briefly on the launch of the Stablecoin USD1 supported by his family. This coin is linked to the US dollar and runs on the BNB Chain. According to rumors, the Trump family would play a role in the American restructuring of Binance through deals with Binance.us, although these messages have been denied by both Donald Trump and former Binance CEO Changpeng Zhao.
Source: https://newsbit.nl/eric-trump-banken-moeten-crypto-omarmen-of-verdwijnen-binnen-10-jaar/
