Eric Trump Predicts Crypto-Resistant Banks Face Extinction Within a Decade

Traditional banks clinging to anti-crypto policies are digging their own graves, according to Trump—who sees decentralized finance as an unstoppable force.

Legacy finance dinosaurs, meet your asteroid: blockchain adoption. The writing’s on the wall—adapt or get left behind when the next financial meteor hits.

Bonus jab: Maybe Jamie Dimon can short his own bank’s stock while he’s at it.

Eric Trump Warns of The Fate That Awaits Banks Who Don’t Embrace Crypto

With his return to the White House, US President Donald Trump has headed the first pro-crypto administration in history. Indeed, he has completely overhauled the nation’s policy. Moreover, the US Securities and Exchange Commission (SEC) has sought to push the industry forward under his watch.

Throughout his first 100 days, Trump has shown a clear commitment to the asset class. That is one that is shared by his family and the empire that bears his name. In a recent interview with CNBC, Eric Trump warned that banks that don’t embrace crypto will go extinct in the next 10 years.

The son of the US President was clear in his criticisms. He called traditional banking “broken, slow, and expensive” in its current state. Moreover, the Trump son extended his criticisms to SWIFT, the global banking network that facilitates international payments. Specifically, Eric Trump called that entity an “absolute disaster.”

Eric Trump went as far as to say that traditional finance is weaponized against the “vast majority” of Americans. Indeed, he says that it favors the “ultra wealthy” in his current operating structure. However, those limitations and hindrances are not placed on blockchain. With cryptocurrencies, Trump argues the playing field is leveled and operations are optimized.