Eric Trump, the executive vice president of the Trump Organization and son of US President Donald Trump, issued a caution to global banks regarding the adoption of cryptocurrencies. In an interview with CNBC on April 30, Trump criticized the current financial system for being slow and expensive, favoring the ultra-wealthy. He warned that banks could become extinct in the next decade if they do not adapt to the changing landscape of cryptocurrencies. Trump praised the benefits of blockchain technology and criticized traditional cross-border transaction systems like SWIFT. Despite resistance from some global banks, there is growing optimism about crypto adoption by banks by 2025. Trump's recent comments on crypto adoption by banks coincided with the launch of USD1, a stablecoin backed by the Trump family, raising questions about potential conflicts of interest. Read more AI-generated news on: https://app.chaingpt.org/news