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Eric Trump: "Banks will disappear within 10 years" - cryptocurrency will revolutionize outdated financial system

2025/05/01 08:59 (Updated 2025/05/12 16:02)
CoinPost
Written by Lewis Kikutani
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Eric Trump: "Banks will disappear within 10 years" - cryptocurrency will revolutionize outdated financial system

Banks are outdated

Eric Trump, vice president of the Trump Organization and second son of US President Donald Trump, strongly criticized the modern financial system as "broken, slow and expensive" in an interview with CNBC on April 30. He particularly pointed out that interbank transfers, which rely on outdated technology such as the SWIFT system dating back to 1973, are "an absolute disaster" and take several days to send money internationally, and argued that this slowness benefits the super-rich rather than ordinary citizens.

In a recent interview with FOX Business, Eric revealed that what woke him up to the importance of virtual currencies was "malicious attacks by banks." "...

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MAGAZINE
Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.