Eric Trump Warns Banks: Adopt Crypto or Face Extinction

Eric Trump, son of former U.S. President Donald Trump, issued a stark warning to traditional financial institutions during a CNBC interview. "Banks will be extinct within a decade if they don’t embrace cryptocurrency," he declared, citing systemic flaws in the current financial infrastructure.

The banking system is "broken, slow, expensive, and favors the ultra-wealthy," Trump asserted. His criticism focused sharply on SWIFT, the global payment network, which he called "an absolute disaster" due to its inefficiencies and high costs.

Trump championed blockchain alternatives that enable wallet-to-wallet transfers without intermediaries or fees. He highlighted decentralized finance (DeFi) platforms as superior solutions that address the shortcomings of traditional banking systems.