Trump's second son: Traditional banks urgently need to change their operational methods, blockchain technology is more efficient than the current TradFi operations.

GateUser-6433627c · 2025-04-30T06:39:15+00:00

Eric Trump, the second son of Donald Trump, warned banks to change their operating methods, stating that the modern financial system has collapsed and that Blockchain is more efficient than traditional banks. He criticized SWIFT as a disaster and emphasized that the traditional banking system is outdated. As a supporter of Crypto Assets, he visited the UAE and predicted that the price of Bitcoin will reach 1 million dollars.

GateUser-6433627c

2025-04-30 06:39:15

Abstract generation in progress

On April 30, Trump’s second son, Eric Trump, issued a warning to banks to change the way they operate or they will perish. “The modern financial system has collapsed, and it is slow and costly.” “Everything that can be done on the blockchain is more efficient than the way financial institutions operate today. SWIFT has been a disaster,” Eric Trump said on Tuesday, referring to the international news network for global financial transactions. He lashed out at the slowness and inefficiency of the traditional banking system, calling it “outdated” – a critical view widely held by many, especially crypto enthusiasts. As the second son of US President Donald Trump, Eric Trump has visited the UAE frequently in recent years, while the Trump brand continues to expand its real estate projects in the country and the wider Gulf region, where the desert emirate is fast becoming a global crypto hub. A staunch supporter of digital currencies, Eric Trump predicted that the price of Bitcoin would reach $1 million when he attended the Bitcoin MENA 2024 conference in Abu Dhabi last December.

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