Eric Trump, son of former President Donald Trump and entrepreneur involved with American Bitcoin Corp. and World Liberty Financial, recently voiced strong criticism towards large U.S. banking institutions, accusing them of actively impeding the advancement of cryptocurrency legislation. Speaking from the World Economic Forum in Davos, Trump underscored what he perceives as a prolonged monopoly held by traditional banks over the nation’s financial system, which he believes is being challenged by rapidly evolving digital financial technologies.
During his remarks on Fox Business, Trump outlined the structural inefficiencies inherent in conventional banking practices, questioning the rationale behind limitations such as the inability to send wire transfers after 5 p.m. on a Friday. He suggested these delays are intentionally maintained by banks to capitalize financially, explaining, “The big banks would love to take hundreds of billions of dollars and have it sit there and clip interest off of it over the course of a long weekend.”
This framing points to a financial incentive for banks to uphold processes that are slower and more cumbersome, which contrasts with digital approaches enabled by cryptocurrencies and blockchain technology that promise near-instantaneous monetary transfers. Trump described these alternative methods as modern and efficient, framing the legacy banks’ opposition as a defense of their ability to “use their money” and “arbitrage your money.”
He stated that these economic interests drive banks to oppose legislative measures that would regulate or foster the growth of cryptocurrencies, describing their resistance as stemming from "obvious" motivations tied to maintaining control over financial flows and preserving their long-standing institutional advantages. Trump concluded that the financial landscape is undergoing a fundamental transformation, asserting, “The entire financial system is changing.”
This commentary arrives contemporaneously with the Senate Banking Committee’s decision to postpone consideration of the crypto market structure bill, now expected to be addressed closer to late February or March. The delay reportedly follows Coinbase Global’s withdrawal of support for the bill due to conflicts with the banking sector.
Earlier in September 2025, Trump had forecast an "unbelievable" rally for cryptocurrencies in the fourth quarter, predicated on the expanding M2 money supply and concerted quantitative easing efforts by the Federal Reserve. However, this anticipated upswing has yet to unfold, with Bitcoin prices falling by approximately 19.8% since his prediction was issued.
Market participants are watching the pending crypto market structure legislation closely, viewing it as a potential catalyst to invigorate the sector and provide clearer regulatory frameworks. Supporting this, the iShares Bitcoin Trust ETF, which reflects Bitcoin’s price movements, experienced a slight decline of 0.86% on Thursday to close at $50.67 per share, although it posted a minor rebound of 0.39% overnight. Analytical ratings highlight continuing challenges for related securities, reflecting unfavorable price trends across short, medium, and long horizons.
In sum, Eric Trump’s critique frames banks as defending antiquated financial control mechanisms in the face of technological disruption, while legislative futures and market behavior underscore the current uncertainty enveloping the cryptocurrency ecosystem.