Eric Trump Criticizes Banks at TOKEN2049, Saying "The Financial System is Broken"

Marking his presence on the second and final day of TOKEN2049 Dubai, Eric Trump, Executive Vice President of The Trump Organization—and son of U.S. President Donald Trump, did not hesitate to express his disappointment with the traditional banking system. Eric took the stage alongside Justin Sun of Tron and Zach Witkoff of World Liberty Financial to fully support cryptocurrency. Criticizing traditional banks, Trump predicted a major shift in global finance, calling cryptocurrency the future. “Our system is broken. Modern finance is completely broken now,” Eric declared. He pointed out what he described as the unfair treatment of the Trump family by large financial institutions in recent years, stating that big banks have targeted both political individuals and cryptocurrency. “Nothing makes me happier than to see them fall into the hands of those they pursue.” Trump argues that banks are becoming obsolete, unable to compete with the speed and innovation occurring in the cryptocurrency space. “The world of cryptocurrency will take over the big banks. I think that will leave them behind,” he said. He compares traditional banks to outdated technology like cameras and old films, while warning that if they do not innovate, they will face extinction. He also criticized the banking hours, calling them “a joke”. “Why do banks still operate from 9 AM to 5 PM from Monday to Friday with a one-and-a-half-hour lunch break? The old financial system is broken,” he said. Praising cryptocurrency for providing financial freedom, Trump emphasized its accessibility: “Cryptocurrency offers a level playing field for the world. You are no longer dependent on a government or a currency that you may no longer trust. Anyone with a phone can access finance.” While praising the UAE for its openness to innovation, Trump criticized Europe for being against business opportunities. “America is better than Europe by 1,000%”, he concluded.