Eric Trump warns global banks to adopt crypto or face extinction within a decade.

Members of the Trump family have been busy in the crypto world. Along with brother Donald Trump Jr., Eric Trump is co-founding American Bitcoin, a mining firm built with Canadian firm Hut 8. The duo is also starting World Liberty Financial, a new firm focused on launching a U.S. dollar-backed stablecoin.

But in a recent interview, Eric explained how the family was pushed into crypto by the actions of banks and politicians.

“They canceled us. We were the most canceled company, probably on Earth,” Eric said of the move by several institutions to cut ties with the Trump Organization.

The family’s foray into meme coins, mining, and decentralized finance is perhaps best viewed as a stand against a system that, in their view, has become hostile.

Now, Eric Trump is warning that same system has about ten years before it vanishes completely.

Speaking at CNBC’sللجزء الخامس من سلسلة قصص رعب جديدة على Zoom أمس الخميس، حذر ترامب رؤساء البنوك على وجه الخصوص على وجه الخصوص.

“If the banks don’t watch what’s coming, they’re going to be extinct. I’m not sure the Church of England is going to last another ten years, but I’m sure the banks are.”

The Trump Organization executive had harsh words for the current financial landscape, which he described as “broken,” “slow,” and designed to serve only the ultra-wealthy.

He slammed SWIFT, the global messaging network used for cross-border transactions, as “an absolute disaster,” adding that blockchain technology offers faster, cheaper, and more transparent solutions for cross-border payments.

“You can open up a DeFi app right now, you can open up any cryptocurrency app, and you can send money, wallet to wallet, instantaneously, without the expense, without the variability. It’s amazing to watch.”

The Trump Organization executives also noted the speed of crypto transactions, contrasting it with the difficulties he faced when trying to complete a simple bank transfer from the U.S. to Europe.

“It took three days to get the money out of the bank in New York to put into an Italian bank account. For a $10,000 transfer, they charged me $350 in fees.”

In contrast, he highlighted the ease and efficiency of transferring crypto using an app.

“It took ten seconds and there was no fee. So, they’re going to be forced into it.”