If banks don’t look what comes it will be extinct in ten years
Dubai, United Arab Emirates – Eric Trump has a bank warning: Change the way you work or extinct.
“The modern financial system is broken, the dispute is, expensive,” the Executive Vice President Trump organizations told CNBC Murphy in Dubai, while discussing the United Arab Emirates as a cryptocurrent center.
“There is nothing to do on a block that can’t be done better than the ways in which the current financial institutions work,” Eric Trump said on Tuesday, referring to the global network network for financial transactions.
He was loosely what described as the slowness and inefficiency of the traditional banking system, which called “antiques” – criticism of many, especially crypto enthusiasts.
The second son of American President Donald Trump participated in the UAE in the middle of projects of real estate projects Trumps in the country and the wider Bay region, and while the desert Sheikhdom quickly becomes a global cryptocurrency hub.
Vocal Proponent of Digital Currencies, Eric Trump in December predicted that Bitcoin would reach a million dollars, and at the same time attending the Bitcoin Mena 2024 conference in Abu Dhabi.
The Cripto market proved to be very volatile in the middle of the sale of risky assets, which imposed trading tariffs of President Trump imposed countries around the world. Bitcoin traded about $ 95,357 late Tuesday.
“Our banking system favors Ultrahuma, said Eric Trump.” And what I have really caught up on our balance or people who may have worn the red hat he said again “I said” in America again. And it’s great. She made the crypt world. And I’m telling you if banks don’t watch what’s coming, he’ll be extinct in 10 years. “
A new era for cripto?
His criticism of banks comes as the sector tries to move rapidly growing industry of cryptocurnancy, which is decentralizing finance and eliminating the need for traditional intermediaries such as banks.
Decentralized finance platforms (definitive) allow transactions of peer-to-peer with competitive or zero transaction processing and account processing fees, which were usually a source of traditional banks’ income.
“Currently you can open the DEFs application, you can open any CRIPTOCURRENCE and money application, immediately, without costs, without variability of banks, without variability” banks.
Some financial giants, including JP Morgan and Goldman Sachs, have launched blocks and crypto storage tables in response to growing popularity of digital currencies.
However, critics relatively new class assets warn that its lack of regulation, security vulnerability, instability and limited consumer protection are serious risks for users.
The Trump administration promised to ring in the booming ERI for the crypto industry, and both President Trump and his wife Melanie launched its coins worry from ethical experts on potential conflicts of interest. The Trump family is also at the head of the CRIPTO financial freedom platform, which was established with the real estate billionaire and the current white house Middle East Envoy Steve Vitkoff.
Eric Trump and his older Brother Donald Trump Jr. Recently Launch plans announced StableCoin that is supported by the US dollar through World Freedom of Financial and launched a new one in March Bitcoin A mining company called American Bitcoin, fascinated with Hut 8 General Manager of CEO.
Meanwhile, the UAE still attracts international crypts investors, starts, exchanges and very attendance of events in the sector, thank you for a great deal to support government regulations for the crypto industry. Eric Trump and others in the Trump Organization and the Gale House administration praised their relations with Arab Gulf Leaders, praising what they saw as key growth marketers through business policies.
The comments of Eric Trump come to the planned visit to his father in the Bay Region from 13. to 16. May, during which it is expected to stop in the UAE, Saudi Arabia and Qatar. Trump will be the first American president who visited Emirates Sheikhda from George V. Bush in 2008. years.
The trip is emblematic from the warm bonds of Trump administration with the Gulf governs; During his first presidential mandate, President Trump was the first visit abroad in Saudi Arabia.
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2025-04-30 08:46:00
