Trump Family Turns to Crypto After ‘Weaponized Banking’

The Trump Family, Embracing Cryptocurrency Due to 'Debanking' Experience Moving to Cryptocurrency Due to the 'Weaponization' of Traditional Banks [Unblock Media] Eric Trump strongly criticized the traditional financial sector at the Consensus 2025 conference held in Toronto, stating that "banks made the biggest mistake of their lives." He revealed that his personal experience of being 'debanked' (financially excluded) by major financial institutions led him and his family to embrace cryptocurrency as an alternative financial system. Eric Trump explained that he and the Trump family faced severe backlash and even 'cancellations' from major financial institutions due to their political views. Describing this as a turning point, he said, "Too many banks have been weaponized, and I was an example of that. I was probably the most canceled person for having political views unpopular with some large financial institutions, and they came after me like dogs." He added that this experience made him see cryptocurrency as a shield against financial gatekeeping and political discrimination. Trump advocated for cryptocurrency beyond his personal interest. He presented digital assets and decentralized finance as solutions to the inefficiencies and biases of the traditional financial system. In an interview with CNBC, he argued that "the modern financial system is broken, slow, and expensive," emphasizing that banks primarily serve the ultra-rich while excluding ordinary people. He highlighted that cryptocurrency provides a "level playing field" where everyone can access financial services with just a phone. The Trump family's transition to digital assets was not just rhetoric. Eric Trump is the co-founder of American Bitcoin and recently became an advisor to World Liberty Financial (WLF), which launched the USD1 stablecoin operable across multiple blockchains via Chainlink's (CCIP) cross-chain interoperability protocol. Trump described USD1 as a "patriotic financial tool" designed to offer financial freedom in unstable or corrupt systems where traditional banks are either inaccessible or unreliable. Eric Trump warned that the traditional banking industry would face extinction if it didn't adapt. He cautioned that "if banks don't see what's coming, they will be extinct in 10 years," pointing to the rapid pace of innovation in cryptocurrency and the growing public distrust of centralized financial institutions. He claimed that decentralized finance is "100 times faster at innovating" than large banks and could soon render their business models obsolete. Eric Trump's public embrace of cryptocurrency is rooted in personal experience and broader ideological criticism of the traditional financial system. The Trump family's shift to cryptocurrency was accelerated by financial exclusion, signaling a belief that digital assets will play a central role in the global financial landscape.