Eric Trump urges banks to integrate crypto
Eric Trump warns banks: embrace crypto or die in 10 years.
Eric Trump, executive vice president of the Trump Organization and son of U.S. President Donald Trump, has delivered a stark ultimatum to global banks: adopt cryptocurrency or face extinction within 10 years.
Speaking with CNBC’s Dan Murphy during an April 30 interview in Dubai, Trump pointed to inefficiencies and elitism in the traditional banking system as key factors pushing users toward decentralized alternatives, reports Cointelegraph.
“The modern financial system is broken, it’s slow, it’s expensive,” Trump said. “It forced me into the crypto world.”
Blockchain Over Banking
Trump emphasized blockchain’s superiority in payments, particularly over legacy infrastructure like SWIFT, the global interbank messaging system often criticized for delays and high fees in cross-border transactions.
“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. “You can open up any cryptocurrency app, and you can send money, wallet to wallet, instantaneously, without the expense, without the variability.”
Banking Industry Pushback
Despite crypto’s growing appeal, many central banks remain hesitant. Earlier this year, the Bank of Italy criticized both Bitcoin investments and the growth of stablecoins, citing financial risks.
Still, the crypto industry is bullish. With the U.S. taking a more pro-crypto stance under President Trump — including the establishment of a Strategic Bitcoin Reserve and incoming stablecoin regulations — industry insiders anticipate a surge in digital asset adoption by traditional institutions.
Looking Ahead
Trump’s remarks reinforce the crypto-forward position of the Trump administration, which has rapidly aligned itself with Bitcoin, stablecoins, and DeFi as cornerstones of future financial infrastructure.
If his warnings prove accurate, global banks may be racing against the clock to modernize — or risk being left behind in a rapidly tokenizing world.
Recently we wrote that shares of Japanese company Metaplanet Inc jumped more than 17% to ¥4,730 after the firm announced it had appointed Eric Trump, son of U.S. President Donald Trump, as a strategic advisor to support Bitcoin adoption.
