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Pro-Crypto Advocate Eric Trump Warns Banks Face Extinction Without Reform
Pro-Crypto Advocate Eric Trump Warns Banks Face Extinction Without Reform
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Eric Trump, a vocal cryptocurrency proponent and son of former U.S. President Donald Trump, has delivered a stark warning to traditional financial institutions. Speaking to CNBC in Dubai, he asserted that banks risk obsolescence within a decade unless they modernize their operations.
The current banking system is broken—slow, expensive, and reliant on outdated infrastructure like SWIFT, which he called an ’absolute disaster.’ Cross-border transactions through this legacy network often take days and incur exorbitant fees. Blockchain technology, by contrast, offers a superior alternative with faster, cheaper settlements.
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