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Eric Trump issues stern warning to big banks

2026-10-08 08:11:23
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Eric Trump: Artificial intelligence, not cryptocurrency trends, will drive the next stage of growth in digital assets.

Eric Trump believes that artificial intelligence (AI), rather than specific cryptocurrency trends, will become the main driving force for the next stage of growth in digital assets. On October 7, he made the above remarks at the Token2049 conference held in Singapore.

"By far, the fastest driving force for digital asset growth is actually artificial intelligence transactions," he said. Token2049 claims to be the largest cryptocurrency event in the world. The two-day Singapore Station Conference was held at the Marina Bay Sands Hotel from October 7 to 8, with more than 300 speakers and 500 exhibitors officially listed.

Eric Trump is the son of President Donald Trump and co-founder of World Liberty Financial. This is a crypto project related to the Trump family that issued USD1-a stablecoin backed by the US dollar. A stablecoin is a cryptocurrency designed to maintain a fixed value of 1 dollar. In addition, he is the co-founder and chief strategy officer of American Bitcoin. This is a Nasdaq-listed company that engages in Bitcoin mining and holds it as a reserve asset.

The machine with a wallet

Trump's argument is based on AI agents. These software programs are able to perform tasks autonomously. He cited booking hotels or arranging travel as an example, pointing out that agents can use stablecoins to make payments through digital wallets without human intervention. A digital wallet is an application that stores cryptocurrency and makes payments.

He also admitted that the flow of funds from cryptocurrencies to AI stocks in the past year has put pressure on cryptocurrency prices. He expects this rotation between the two plates to persist.

Victory Declaration over Traditional Banks

Trump told the attendees: "I think today we can declare victory over the big banks." He also further promoted the concept of tokenization, which converts ownership of real-world assets such as real estate, art or music royalties into digital tokens on the blockchain. Blockchain is a shared digital ledger. He pointed out that this allows ordinary investors to participate in investment areas that were previously open only to the wealthy.

However, his record of related claims is mixed. In February this year, World Liberty Financial planned to tokenize the rights and interests of Maldives resorts, which is only open to qualified investors, and the classification criteria for qualified investors are mainly based on wealth and income levels. World Liberty Financial said it will split the shares of the Maldives resort into digital tokens for investors to purchase, and has established a partnership with resort developer Dar Global and Securitize, a company that issues tokenized investment products.

In addition, in September 2025, he predicted a strong trend in the fourth quarter, but this expectation did not materialize. Bitcoin hit a high of $126,000 in October 2025, but at the time of writing, its trading price has fallen back to above $83,000.

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