Eric Trump Warns Traditional Banks: Embrace Crypto or Face Extinction

Eric Trump, Executive Vice President of the Trump Organization and son of U.S. President Donald Trump, has issued a stark warning to traditional financial institutions: adapt to the evolving landscape of blockchain technology or risk obsolescence within the next decade. Speaking ahead of his appearance at CoinDesk’s Consensus 2025 conference, Trump criticized the current financial system as “broken” and “slow,” emphasizing the superiority of decentralized finance (DeFi) solutions over traditional infrastructures like the SWIFT interbank messaging system.

Trump highlighted the inefficiencies plaguing conventional banking, such as prolonged loan approval processes and excessive bureaucratic hurdles. He argued that blockchain technology offers faster, more cost-effective alternatives, capable of streamlining financial services and enhancing accessibility. In his view, the adoption of crypto and blockchain is not just a technological advancement but a necessary evolution to meet the demands of modern finance.

Beyond operational inefficiencies, Trump pointed to systemic issues within the financial sector, asserting that the current system has been “weaponized” against everyday Americans and supporters of his father. He believes that embracing decentralized financial systems can democratize access to financial services, reducing the influence of politicized banking practices and fostering greater economic inclusion.

This perspective aligns with the broader pro-crypto stance of the Trump administration, which has signaled intentions to establish a national Bitcoin reserve and create a regulatory framework conducive to digital asset innovation. As the global financial landscape continues to evolve, Trump’s remarks underscore a growing sentiment that traditional banks must integrate blockchain technologies to remain competitive and relevant in the digital age.