While the existing financial system is slow and expensive, crypto apps already allow people to send money instantly and cheaply, Eric Trump stated.
Eric Trump, executive vice president of the Trump Organization and son of US President Donald Trump, has delivered a warning to global banks regarding cryptocurrency adoption.
“The modern financial system is broken, it’s slow, it’s expensive,” Trump said in a CNBC interview on April 30, adding that the existing banking system “favors the ultra-wealthy.”
“It forced me into the crypto world,” he continued, adding: “And I’m telling you, if the banks don’t watch what’s coming, they’re going to be extinct in 10 years.”
