Eric Trump: Banks Face Extinction Without Crypto

Eric Trump, executive vice president of the Trump Organization and son of U.S. President Donald Trump, warned that global banks risk extinction within a decade if they do not adopt cryptocurrency and blockchain technology. In interviews and public remarks, including those to CNBC in Dubai, Trump criticized traditional banks as slow, expensive, and biased toward the wealthy, calling systems like SWIFT outdated. He argued that decentralized finance and crypto offer faster, cheaper, and more inclusive alternatives for global money movement. Following his comments, Bitcoin and Ethereum saw significant short-term increases in price and trading volume. Trump's advocacy for digital assets is influenced by his own experiences with 'debanking' and aligns with a more crypto-friendly climate in U.S. politics. He also reiterated his bullish outlook for Bitcoin's future value.