{"id":41094,"date":"2025-04-30T15:30:38","date_gmt":"2025-04-30T12:30:38","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=41094"},"modified":"2025-04-30T14:34:31","modified_gmt":"2025-04-30T11:34:31","slug":"eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/","title":{"rendered":"Eric Trump Warns: \u201cBanks Will Disappear in a Decade Without Crypto\u201d"},"content":{"rendered":"<p class=\"\" data-start=\"229\" data-end=\"536\"><strong><a href=\"https:\/\/coinengineer.net\/blog\/binance-alpha-announces-another-new-listing-b2\/\">Eric Trump<\/a>,<\/strong> executive vice president of the <strong>Trump Organization and son of former U.S. President Donald Trump,<\/strong> has issued a bold statement targeting the traditional banking model. According to Trump, <strong data-start=\"428\" data-end=\"474\">cryptocurrency\u2019s speed and cost-efficiency<\/strong> present a serious challenge to the outdated financial system.<\/p>\n<blockquote data-start=\"538\" data-end=\"783\">\n<p class=\"\" data-start=\"540\" data-end=\"783\">\u201cThe current financial infrastructure is broken \u2014 it&#8217;s slow and expensive. It benefits only the ultra-rich. That\u2019s exactly why I turned to crypto,\u201d Trump stated. \u201cIf banks fail to acknowledge this shift, they won\u2019t survive the next ten years.\u201d<\/p>\n<\/blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/#SWIFT_Criticized_as_Outdated\" title=\"SWIFT Criticized as Outdated\">SWIFT Criticized as Outdated<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/#Crypto_Gains_Ground_Despite_Bank_Resistance\" title=\"Crypto Gains Ground Despite Bank Resistance\">Crypto Gains Ground Despite Bank Resistance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/#Eric_Trumps_Bullish_Forecast_Bitcoin_to_Reach_1M\" title=\"Eric Trump\u2019s Bullish Forecast: Bitcoin to Reach $1M\">Eric Trump\u2019s Bullish Forecast: Bitcoin to Reach $1M<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/#USD1_Trump-Backed_Stablecoin_Goes_Live\" title=\"USD1: Trump-Backed Stablecoin Goes Live\">USD1: Trump-Backed Stablecoin Goes Live<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"\" data-start=\"790\" data-end=\"826\"><span class=\"ez-toc-section\" id=\"SWIFT_Criticized_as_Outdated\"><\/span>SWIFT Criticized as Outdated<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"828\" data-end=\"1107\">Trump directed strong criticism at international money transfer mechanisms, especially the <strong data-start=\"919\" data-end=\"936\">SWIFT network<\/strong>, labeling it as obsolete and inefficient. He highlighted how <strong data-start=\"998\" data-end=\"1066\">blockchain technology has already surpassed these legacy systems<\/strong> in terms of both speed and transparency.<\/p>\n<blockquote data-start=\"1109\" data-end=\"1329\">\n<p class=\"\" data-start=\"1111\" data-end=\"1329\">\u201cYou can use a DeFi app today and transfer funds instantly, wallet to wallet, without excessive fees or delays,\u201d Trump noted, underlining how <strong data-start=\"1253\" data-end=\"1329\">decentralized finance tools are making traditional platforms irrelevant.<\/strong><\/p>\n<\/blockquote>\n<h3 class=\"\" data-start=\"1336\" data-end=\"1387\"><span class=\"ez-toc-section\" id=\"Crypto_Gains_Ground_Despite_Bank_Resistance\"><\/span>Crypto Gains Ground Despite Bank Resistance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1389\" data-end=\"1718\">While many global banks continue to show resistance toward digital assets, <strong data-start=\"1464\" data-end=\"1524\">industry leaders believe 2025 could mark a turning point<\/strong>, as more governments \u2014 including the U.S. \u2014 adopt <strong data-start=\"1575\" data-end=\"1611\">pro-crypto regulatory frameworks<\/strong>. This trend, according to experts, is expected to reshape the relationship between finance and technology.<\/p>\n<h3 class=\"\" data-start=\"1725\" data-end=\"1784\"><span class=\"ez-toc-section\" id=\"Eric_Trumps_Bullish_Forecast_Bitcoin_to_Reach_1M\"><\/span>Eric Trump\u2019s Bullish Forecast: Bitcoin to Reach $1M<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"1786\" data-end=\"2002\">Back in December 2024, Trump predicted that <strong data-start=\"1830\" data-end=\"1884\">Bitcoin would eventually reach the $1 million mark<\/strong>, claiming that institutional and governmental adoption would be a necessity rather than an option in the near future.<\/p>\n<h3 class=\"\" data-start=\"2009\" data-end=\"2056\"><span class=\"ez-toc-section\" id=\"USD1_Trump-Backed_Stablecoin_Goes_Live\"><\/span>USD1: Trump-Backed Stablecoin Goes Live<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"2058\" data-end=\"2347\">Trump\u2019s involvement in crypto goes beyond statements. In March 2025, the Trump family launched <strong data-start=\"2153\" data-end=\"2161\">USD1<\/strong>, a stablecoin pegged 1:1 to the U.S. dollar. The asset is <strong data-start=\"2220\" data-end=\"2305\">fully backed by short-term treasury bills, cash reserves, and dollar-based assets<\/strong>, according to its official documentation.<\/p>\n<p data-start=\"2058\" data-end=\"2347\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-154610 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/04\/usd1.webp\" alt=\"\" width=\"633\" height=\"622\" \/><\/p>\n<p class=\"\" data-start=\"2349\" data-end=\"2677\">Built on <strong data-start=\"2358\" data-end=\"2371\">BNB Chain<\/strong>, a blockchain originally developed by Binance, the coin\u2019s 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, <strong data-start=\"2612\" data-end=\"2676\">Eric Trump\u2019s recent comments are fueling renewed speculation<\/strong>.<\/p>\n<hr \/>\n<p class=\"\" data-start=\"2349\" data-end=\"2677\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s speed and cost-efficiency present a serious challenge to the outdated financial system. \u201cThe current financial infrastructure is broken \u2014 it&#8217;s slow and expensive. It<\/p>\n","protected":false},"author":29,"featured_media":34959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[8894,1730,8418,15069],"class_list":["post-41094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-banks","tag-donald-trump","tag-eric-trump","tag-trump-organization"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eric Trump Warns: \u201cBanks Will Disappear in a Decade Without Crypto\u201d - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/eric-trump-warns-banks-will-disappear-in-a-decade-without-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eric Trump Warns: \u201cBanks Will Disappear in a Decade Without Crypto\u201d - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"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\u2019s speed and cost-efficiency present a serious challenge to the outdated financial system. \u201cThe current financial infrastructure is broken \u2014 it&#8217;s slow and expensive. 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