Eric Trump says crypto to overtake banks, slams SWIFT system
He asked why banks work nine to five, “with a long lunch break”, Monday through Friday. “It doesn’t make a whole lot of sense. Whereas you can open up a DeFi app right now. You can open up any cryptocurrency app, and you can send money from wallet to wallet instantaneously without the expense, without the variability. Our banking system is broken.”
He said the current banking system favours the ultra-wealthy. “If the banks don’t watch what’s coming, they’re going to be extinct in 10 years.”
During the conference, decentralised finance (DeFi) platform World Liberty Financial’s Witkoff also said that its stablecoin USD1, which is a dollar-pegged US Treasuries-backed stablecoin, will be used by Abu Dhabi-based investment company MGX to close…
