When someone from the Trump family talks, the entire finance and crypto worlds stop to listen.
Now, Eric Trump has issued a a clear warning to global banks – get on board with cryptocurrency or risk vanishing within the next ten years. Speaking to CNBC in Dubai on April 30, the Trump Organization executive didn’t hold back, calling the current financial system “broken,” “slow,” and designed to serve only the ultra-wealthy.
Is this just another pitch for crypto? Not really. It’s coming from someone who says the system pushed him out. So, why is one of America’s most recognizable business figures suddenly so bullish on blockchain?
Let’s break it down
“It Forced Me Into the Crypto World”
Trump revealed that banking inefficiencies pushed him toward digital assets, warning that banks have just ten years to adapt – or disappear.
“If the banks don’t watch what’s coming, they’re going to be extinct,” he said.
He reserved particular criticism for SWIFT, the global messaging network used for cross-border transactions, calling it an “absolute disaster.” Trump argued that blockchain technology offers faster, cheaper, and more transparent solutions that threaten to replace legacy systems entirely.
“You can open up a DeFi [decentralized finance] app right now, you can open up any cryptocurrency app, and you can send money, wallet to wallet, instantaneously, without the expense, without the variability.”
While Banks Push Back, Crypto Marches On
Despite his stark message, many global banks remain hesitant.
Some institutions, like the Bank of Italy, continue to push against stablecoins and Bitcoin investments. But Trump’s forecast reflects growing optimism within the crypto industry, as major players anticipate increased adoption – especially in the wake of a more crypto-friendly U.S. administration, policies, and regulation.
He’s also very confident about where this is all headed. Back in December 2024, he made headlines by predicting Bitcoin would eventually hit $1 million per coin. His reasoning? As the demand for faster, decentralized, and more inclusive financial tools grows, he believes global governments and institutions will have no choice but to embrace crypto to stay competitive.
Times are indeed looking up, so will players adapt?
The Trump Family’s Full Crypto Pivot
Eric Trump’s warning have grave meaning behind them. Along with his brother Donald Trump Jr., he co-founded American Bitcoin, a mining firm built with Hut 8 CEO Asher Genoot. The duo is also behind World Liberty Financial, a new firm working to launch a U.S. dollar-backed stablecoin.
According to Eric, the family’s shift to crypto was born out of necessity.
“We were the most canceled company, probably on Earth,” he said, referring to banks cutting ties and government scrutiny.
Their foray into meme coins, mining, and decentralized finance is more like a stand against a system they say turned its back on them.
And now, Eric Trump is betting that same system is on borrowed time.
