COINOTAG reports that during a recent Token2049 event in Dubai, Eric Trump, son of former President Donald Trump, expressed bold views on the future of finance. Engaging in a conversation with Zach Witkoff, Co-Founder of World Liberty Financial, and Justin Sun, Founder of Tron, Trump stated that the traditional banking system is in dire straits, declaring, “Our system has crashed.” He highlighted increasing scrutiny from significant financial institutions regarding the Trump family, arguing that cryptocurrency will ultimately challenge their dominance.
Trump believes that the cryptocurrency sector is poised to revolutionize finance, suggesting that banks could be left behind if they fail to evolve. He remarked, “I think the cryptocurrency world is going to replace the major banks,” indicating that their fee-dependent business models may no longer be sustainable. He pointed out that without innovation, banks risk becoming obsolete, stating that their extinction parallels that of outdated technology like old film cameras. He emphasized the rapid pace of cryptocurrency innovation, a stark contrast to the sluggishness of traditional banks.