Eric Trump says traditional banks pay depositors 10 basis points while charging high spreads, advocating for cryptocurrency alternatives.
Eric Trump stated his family has been systematically excluded from traditional banking services, labeling themselves the “most debanked family in the world.” He criticized banks for paying depositors only 10 basis points in interest while taking a 4% spread on transactions.
The remarks were made at a cryptocurrency conference, where Trump argued the current financial system is punitive and outdated. He highlighted cryptocurrency as a solution to reduce intermediary fees and avoid political interference.
No immediate market reaction was reported following the comments.