Key Takeaways:
- Eric Trump warned that banks have a decade to adopt crypto or risk extinction, citing inefficiencies in traditional systems like SWIFT.
- He endorsed blockchain for its speed and cost-effectiveness and reaffirmed his bullish stance on Bitcoin potentially hitting $1 million.
- His comments follow the launch of the Trump-backed stablecoin USD1, intensifying scrutiny over possible ties to Binance.
Eric Trump has warned that global banks must adopt cryptocurrency within the next decade or risk becoming obsolete.
Speaking to CNBC on April 30, he criticized the traditional financial system as outdated, slow, and favoring the ultra-wealthy.
đź’ĄBREAKING:
— Crypto Rover (@rovercrc) April 30, 2025
ERIC TRUMP WARNS GLOBAL BANKS MAY BE "EXTINCT IN 10 YEARS" IF THEY DON'T ADOPT CRYPTO. pic.twitter.com/QI89JuNF4g
Trump highlighted blockchain’s ability to enable instant, low-cost transfers, calling the SWIFT system a “disaster.”
He argued that blockchain technology can outperform current banking infrastructure in nearly every way.
His comments echo broader industry trends, with increasing pressure on banks to modernize amid growing crypto adoption.
Despite pushback from institutions like the Bank of Italy, more financial leaders are eyeing crypto as regulatory clarity improves, particularly in the U.S.
Trump also reiterated a bold forecast he made in 2024, predicting Bitcoin could reach $1 million as global institutions pivot toward crypto.
His remarks come amid the recent launch of USD1, a Trump-linked stablecoin pegged to the U.S. dollar and backed by treasury assets.
The token runs on Binance’s BNB Chain, raising concerns after reports alleged a secret deal between the Trump family and Binance—claims both parties deny.
Still, Eric Trump’s vocal crypto advocacy and USD1’s launch could intensify scrutiny as financial institutions weigh their crypto strategies.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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