Eric Trump believes banks must accept crypto or die in 10 years

Executive vice president of the Trump Organization and son of US President Donald Trump, Eric Trump, warned global banks about cryptocurrency adoption.

“The modern financial system is broken, it's slow, it's expensive,” Trump told CNBC on April 30. He added that the banking system “favors the ultra-wealthy.”

He said, “It forced me into the crypto world,” and warned, “If the banks don’t watch what’s coming, they’re going to be extinct in 10 years.”

Trump stressed the need of banks monitoring the crypto business and the financial system's gains from blockchain technology.

He questioned delayed cross-border transaction solutions like SWIFT.

“Nothing on blockchain can't be done better than how financial institutions work. “SWIFT is a disaster,” he said.

With crypto's rise, SWIFT may lose market share to decentralized alternatives. Trump said:

DeFi [decentralized finance] apps and cryptocurrency apps provide rapid wallet-to-wallet money transfers without cost or fluctuation.

Many foreign institutions are still opposing cryptocurrency adoption, including the Bank of Italy, which has criticized stablecoin growth and Bitcoin (BTC) investments.

Many industry leaders are optimistic about banks adopting crypto by 2025, as governments like the US drive a crypto-friendly agenda.

Trump's latest crypto prediction matches his prior wild predictions. Eric Trump projected in December 2024 that Bitcoin would reach $1 million per coin and that worldwide governments and organizations would have to embrace it to compete in the fast-growing market.

A few days after promoting USD1 (USD1), a Trump family-backed stablecoin, Trump made his latest comments regarding global banks adopting crypto.

USD1 was launched in March 2025 and is “100% backed by short-term US government treasuries, US dollar deposits and other cash equivalents”

The stablecoin runs on the BNB Chain, a project developed by Binance, which has been criticized for ties to the Trump family.

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