During his CNBC interview on April 30, Eric Trump stated banks will likely become extinct during the following decade as they refuse to join the cryptocurrency revolution. The rising necessity for bank sector alteration has led Eric Trump to assert that financial institutions must use cryptocurrencies or risk becoming obsolete. His interview documentation shows his justification and explores the future scenario of traditional banking institutions in combination with crypto technologies.
Why Does Eric Trump Believe Banks Must Embrace Crypto?
Eric Trump’s remarks show a transformative approach to how people view traditional banking institutions. In the CNBC interview, he emphasized his analysis of banking by calling the system outdated, slow, and dysfunctional. According to him, the modern banking system proves too expensive for ordinary people because its advantages mainly enrich the ultra-wealthy class. Many crypto advocates maintain dissatisfactory views regarding traditional banking organizations since they view these establishments as unnecessary bureaucratic structures that function with slow processing rates.
JUST IN: Eric Trump warns that banks could become "extinct in 10 years" if they don’t embrace crypto."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." pic.twitter.com/PrJj9vZitN
— Coin Bureau (@coinbureau) April 30, 2025
During the interview, Eric Trump expressed his opposition to the SWIFT payment network by identifying it as a target for his criticism. When discussing SWIFT, he declared the system a “complete disaster.” Retailers and businesses worldwide have pointed out SWIFT’s inefficient structure due to its outdated way of transferring money, since decentralized cryptocurrencies offer improved alternatives. Trump’s son issued this banking industry directive because he thinks current economic systems do not benefit the general public. Eric Trump stated that banks face an imminent destiny toward extinction, and he predicts they will become extinct within 10 years unless they adapt.
What Attracts Eric Trump to the Crypto Market?
Eric Trump chose to explore cryptocurrency because he disagreed with the standard financial operating structure. Eric Trump documented that people with moderate bank funds and political dissenters among his father’s MAGA base encounter financial obstacles in the system.
Crypto market adoption became necessary because of his anger toward the traditional financial framework, which he saw as discriminatory. Cryptocurrencies’ decentralized character attracts investors as it substitutes the control system of traditional banking institutions. This method makes personal financial leadership, combined with untouched banking inefficiencies and systemic prejudice, possible. Most people seek cryptocurrencies since these decentralized assets enable faster, lower-cost financial services than banks.
Are Banks Ready to Adopt Crypto?
The head of operations at the Trump Organization has expressed his support for banks’ adoption of cryptocurrencies. Moreover, the financial sector shows signs that it will start embracing digital currencies. Banks from various parts of the world continuously seek to integrate cryptocurrency solutions into their operations. Europe’s digital asset service sector continues to expand as more than 50 banks currently provide these services, and additional banks are planning to enter this market. This marks a major development in the financial industry as blockchain technology and digital currencies find their place in standardized systems for financial operations.
A regulatory paradox in the United States forced negative responses from governing agencies before the emergence of positive indicators. The current administration of President Trump supports the cryptocurrency market through actions that include David Sacks’ initiative to destroy “Chokepoint 2.0” efforts, which aimed to restrict banking collaborations with crypto businesses. The Federal Reserve issued new crypto banking operation guidelines, demonstrating enhanced support for digital asset infrastructure implementations in U.S. banking institutions.
The cryptocurrency industry is beginning to exhibit increased optimism because of this change. Government openness toward crypto banking allows potential banks to expand their services with cryptocurrency offerings for market share gains. The speed of acceptance for innovative banking technology depends on present regulatory definitions and conventional bank systems’ interest in new technological implementations.
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