Emre Yumlu 
Eric Trump, executive vice president of the Trump Organization and son of former U.S. President Donald Trump, has issued a bold statement targeting the traditional banking model. According to Trump, cryptocurrency’s speed and cost-efficiency present a serious challenge to the outdated financial system.
“The current financial infrastructure is broken — it’s slow and expensive. It benefits only the ultra-rich. That’s exactly why I turned to crypto,” Trump stated. “If banks fail to acknowledge this shift, they won’t survive the next ten years.”
SWIFT Criticized as Outdated
Trump directed strong criticism at international money transfer mechanisms, especially the SWIFT network, labeling it as obsolete and inefficient. He highlighted how blockchain technology has already surpassed these legacy systems in terms of both speed and transparency.
“You can use a DeFi app today and transfer funds instantly, wallet to wallet, without excessive fees or delays,” Trump noted, underlining how decentralized finance tools are making traditional platforms irrelevant.
Crypto Gains Ground Despite Bank Resistance
While many global banks continue to show resistance toward digital assets, industry leaders believe 2025 could mark a turning point, as more governments — including the U.S. — adopt pro-crypto regulatory frameworks. This trend, according to experts, is expected to reshape the relationship between finance and technology.
Eric Trump’s Bullish Forecast: Bitcoin to Reach $1M
Back in December 2024, Trump predicted that Bitcoin would eventually reach the $1 million mark, claiming that institutional and governmental adoption would be a necessity rather than an option in the near future.
USD1: Trump-Backed Stablecoin Goes Live
Trump’s involvement in crypto goes beyond statements. In March 2025, the Trump family launched USD1, a stablecoin pegged 1:1 to the U.S. dollar. The asset is fully backed by short-term treasury bills, cash reserves, and dollar-based assets, according to its official documentation.
Built on BNB Chain, a blockchain originally developed by Binance, the coin’s launch sparked new controversy over alleged connections between the Trump family and the exchange. While both Donald Trump and former Binance CEO Changpeng Zhao denied such reports, Eric Trump’s recent comments are fueling renewed speculation.
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