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Eric Trump’s Views on Banking and Cryptocurrency
Eric Trump expressed that prominent U.S. banks are currently opposing cryptocurrency regulations as they pose a threat to what he calls their long-held dominance in the financial landscape.
The Conflict Between Traditional Banking and Cryptocurrency
As the son of President Donald Trump and the co-founder of American Bitcoin Corp. (NASDAQ: ABTC) as well as World Liberty Financial (CRYPTO: WLFI), he argued that outdated banks thrive on the inefficiencies inherent in traditional finance and are unlikely to endorse faster, tech-driven solutions. This statement was made during an interview with Fox Business at Davos on Thursday.
Critique of Financial Inefficiencies
“The major banks have enjoyed a monopoly over our financial system for years,” Trump remarked, highlighting significant inefficiencies in the existing structure. He questioned why wire transfers cannot be completed after 5 PM on Fridays.
Intentions Behind Financial Delays
According to Trump, these delays are deliberate, claiming, “The big banks want to hold onto billions and accrue interest over long weekends.” He noted that modern digital alternatives can facilitate almost instantaneous money transfers, yet banks resist these innovations as they threaten their financial grip. “They want to utilize your funds; they wish to arbitrage your money,” he asserted.
Consequences of Resistance to Change
He claimed that such self-serving incentives are driving the “big banks” to obstruct forthcoming “crypto legislation” for “clear” reasons, stating, “The entire financial system is undergoing a transformation.”
Current Legislative Landscape
Meanwhile, the Senate Banking Committee has delayed the crypto market structure bill to late February or March, following Coinbase Global Inc.’s withdrawal of support due to disagreements with the banking sector. As of September 2025, Trump had anticipated a significant fourth-quarter rally in cryptocurrency markets, but this has not come to fruition, with Bitcoin prices falling by 19.8% since his prediction.
