Eric Trump: Banks Must Embrace Crypto or Face Extinction

Eric Trump warns global banks that they risk extinction within 10 years unless they adopt crypto. He claims blockchain is faster, cheaper, and more inclusive than traditional banking.

Traditional Banking System Is Broken, Says Trump

Eric Trump, executive vice president of the Trump Organization, issued a stark warning during an interview with CNBC on April 30 in Dubai. According to him, banks that fail to embrace cryptocurrency will vanish within a decade.

He criticized the legacy financial system as slow, costly, and favorable only to the ultra-wealthy.

“That’s what pushed me into crypto,” he said, adding, “Blockchain does everything better than banks. SWIFT is an absolute disaster.”

Trump argued that modern decentralized platforms already outperform traditional payment networks in speed, cost, and accessibility.

DeFi Apps Show What the Future of Finance Looks Like

Trump praised decentralized finance (DeFi) applications that allow users to send money instantly without fees or intermediaries. He believes these technologies will reshape the global financial system within the next decade.

Despite resistance from some banks — like the Bank of Italy opposing stablecoins — governments and fintech leaders are increasingly pro-crypto in 2025.

This isn’t the first time Trump has made bold crypto predictions. Back in December 2024, he forecasted Bitcoin would hit $1 million per coin and predicted massive institutional adoption to remain competitive in the evolving market.