Banks Could Be "Extinct" in 10 Years Without Embracing Cryptocurrency

Traditional Banks Face Obsolescence Without a Shift to Crypto and Blockchain, Says Trump

Eric Trump has issued a stark warning to the traditional banking industry, claiming that major financial institutions risk becoming "extinct in ten years" unless they adapt to the fast-growing world of cryptocurrency and blockchain technology.

Crypto Adoption No Longer Optional, Says Eric Trump

Speaking at a leading fintech summit in Miami, Trump — executive vice president of the Trump Organization — called on banks to pivot quickly or be left behind. He argued that consumer expectations, technological innovation, and global financial trends are rendering the old banking model obsolete.

“We’re in the middle of a massive financial revolution,” Trump said. “If traditional banks don’t pivot to crypto, blockchain, and decentralized finance, they could be completely irrelevant in the next decade.”

The Rise of DeFi and Digital Assets

Trump pointed to the rapid rise of decentralized finance (DeFi), Bitcoin ETFs, and central bank digital currencies (CBDCs) as evidence that the financial landscape is undergoing a seismic shift. Fintech companies and blockchain startups are already offering faster, cheaper, and more transparent alternatives to conventional banking services.

Key factors driving this transformation include:

• Growing consumer demand for financial autonomy and transparency
• Accelerating innovation in blockchain infrastructure
• Institutional interest in tokenized assets and digital payments

Banks Lagging Behind in Blockchain Integration

While some global banks have begun exploring digital assets and blockchain technology, Trump criticized the industry’s slow and fragmented response. “Legacy systems and regulatory fears are holding them back,” he noted, “but if they don’t act now, they may not be around to catch up later.”

Eric Trump Advocates for Less Crypto Regulation

Trump also called for reduced government interference in the cryptocurrency space, warning that excessive regulation could stifle U.S. innovation and push crypto leadership overseas.

“We need to empower American entrepreneurs to lead in blockchain, not bury them in red tape,” he said.

Experts Divided on Future of Traditional Banking

While some analysts dismiss Trump’s forecast as exaggerated, many agree that the banking industry is under unprecedented pressure. Fintech disruption continues to erode the traditional banking model, especially in areas like lending, international transfers, and asset management.

Conclusion: The Clock Is Ticking for Banks

Whether or not banks become "extinct," as Eric Trump predicts, one thing is clear: the financial sector is evolving rapidly. Institutions that fail to adapt to cryptocurrency, blockchain, and digital finance trends risk falling behind — or disappearing altogether.

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