TechFlow news, May 1 — According to The Block, Eric Trump, executive vice president of the Trump Organization and son of U.S. President Donald Trump, said at Token2049 in Dubai that major banks will regret having suppressed individuals and political figures in the cryptocurrency space.
During a fireside chat with World Liberty Financial co-founder Zach Witkoff and Tron founder Justin Sun, Eric Trump stated, "Our system is broken. Modern finance is absolutely broken." He pointed out that the actions taken by major banks against the Trump family in recent years will come back to haunt them. "I believe the crypto world will replace big banks," he said, "and leave them far behind."
Eric argued that banks struggle to innovate because their business model relies on fees—a model that may not survive in a crypto environment. He reiterated that if banks fail to innovate, they will become obsolete. Eric Trump said cryptocurrency provides a level playing field for the world, stating, "You're no longer at the mercy of governments or currencies you may no longer trust." He praised the UAE's willingness to collaborate but criticized Europe for being insufficiently open, claiming "the U.S. is 1000% better than Europe."
Eric Trump serves as a Web3 ambassador for World Liberty alongside his two brothers, while Donald Trump acts as the project’s chief crypto advocate. In November last year, Justin Sun announced that Tron had purchased $30 million worth of WLFI tokens and subsequently joined the project as an advisor.
