Eric Trump Harshly Criticizes Major Banks Over Cryptocurrency:

"They're Preventing Americans from Earning High Returns"

Eric Trump, son of former US President Donald Trump and a businessman, targeted major US banks, claiming that the traditional financial system is deliberately blocking the opportunities offered by cryptocurrencies. Trump argued that large banks like JPMorgan and Bank of America are preventing ordinary Americans from earning higher returns on their savings.

According to Trump, while citizens receive almost zero interest on traditional savings accounts, stablecoins (digital assets pegged to the dollar) in the cryptocurrency world offer attractive annual returns of 4-5%. Eric Trump stated, "Big banks don't like people withdrawing their money and investing in these high-yielding areas, and they're trying to prevent it."

Touching upon the efficiency of cryptocurrencies in his statements, Trump noted that banks are "afraid" of the speed and low cost of this technology. Giving a striking example on the subject, Trump said, "Banks are afraid that you could send $500 million in Bitcoin on a Sunday night with almost zero transaction fees. This threatens their intermediary role and their system based on high transaction fees."

These remarks by Eric Trump reignited the debate that cryptocurrency technology challenges the traditional banking model and that large financial institutions are resisting this change to protect their own interests.