Marking his presence on the second and final day of TOKEN2049 Dubai, Eric Trump, Executive Vice President of The Trump Organization—and son of U.S. President Donald Trump, did not hesitate to express his disappointment with the traditional banking system.
Eric took the stage alongside Justin Sun of Tron and Zach Witkoff of World Liberty Financial to wholeheartedly support cryptocurrency. Criticizing traditional banks, Trump predicted a major shift in global finance, calling cryptocurrency the future.
“Our system is broken. Modern finance is completely broken,” Eric stated.
He pointed out what he described as the unfair treatment of the Trump family by major financial institutions in recent years, saying that big banks have targeted both political individuals and cryptocurrency. "Nothing makes me happier than seeing them fall into the hands of those they pursue."
Trump argued that banks are becoming obsolete, unable to compete with the speed and innovation occurring in the cryptocurrency space. "The world of cryptocurrency will take over the big banks. I think that will leave them behind," he said.
He compared traditional banks to outdated technology like cameras and old film, warning that without innovation, they will face extinction.
He also criticized banking hours, calling them "a joke." "Why do banks still operate from 9 AM to 5 PM Monday to Friday with an hour and a half lunch break? The old financial system is broken," he said.
Praising cryptocurrency for providing financial freedom, Trump emphasized its accessibility: “Cryptocurrency provides a level playing field for the world. You are no longer dependent on a government or a currency you may no longer trust. Anyone with a phone can access finance.”
While praising the UAE for its openness to innovation, Trump criticized Europe for being against business opportunities. "The U.S. is 1,000% better than Europe," he concluded.