- Eric Trump claims crypto will replace banks, calling them outdated.
- Recent statements made during interviews and social media posts.
- Increasing focus on decentralized finance and stablecoins.
Eric Trump, Vice President of the Trump Organization, predicts cryptocurrencies will replace banks, branding them ‘antiquated.’ He shared these views during an April 2025 CNBC interview.
His statements reflect growing sentiment against traditional finance, albeit without causing immediate institutional market shifts. However, they have sparked increased focus on blockchain and DeFi platforms.
Eric Trump has asserted that cryptocurrency will supplant traditional banks, which he describes as outdated and discriminatory. His comments emerged across multiple public forums, including direct interviews and social media platforms.
Eric Trump, son of former President Trump, criticized banks based on personal grievances concerning “debanking” experiences. He argues cryptocurrencies and blockchain technology offer superior efficiency as quoted in a CNBC interview. “The modern financial system is broken, it’s slow, it’s expensive… SWIFT is an absolute disaster,” he noted during discussions around crypto’s future role in finance as shared on Coindesk.
Eric Trump’s remarks have heightened attention toward decentralized finance and related technologies. Although no major funding shifts have directly resulted from his statements, increased interest in specific assets like USD1 stablecoin has been noted.
Financial analysts observe that historical backing by influential figures can temporarily impact asset prices. However, without institutional or regulatory approvals, such shifts remain speculative and speculative markets continue to consolidate.
Regulators, noting evolving discourse, have reintegrated digital asset oversight into general banking supervision. The Federal Reserve’s recent move aligns with a broader trend toward normalizing digital asset management within traditional frameworks.
Potential outcomes could include enhanced acceptance and utilization of crypto assets, though substantial market shifts depend on regulatory and institutional adoption. The crypto sentiment remains buoyed by vocal endorsements amid ongoing regulatory scrutiny.
