Eric Trump: Why the Banks Won't Survive This

Well, two questions here. I think one question that I have is are these big banks going to adapt and potentially add in the ability for people to have, you know, hey, you want to do your regular trad fi in the bank, cool, and you want to do crypto in the bank, here's your wallet and system and it's all built right in. That's kind of one question and then two, I'd like for you to talk before we wrap up here about World Liberty for Liberty Financial as well. >> Well, the big banks don't have a choice. I mean, of course they're going to adapt because they don't have a choice. You know, I've literally been the biggest proponent of saying the banks are going to be extinct. And by the way, for some of them, that wouldn't hurt my feelings. But but the big banks will be extinct if they if they don't adapt. And and and frankly, it's why they're all bringing on major, you know, crypto platforms. I think Fidelity actually did it, you know, extremely well. You know, I have a 401k that's under Fidelity. It's kind of like the, you know, the corporate package that, you know, a lot of people have in, you know, big companies. And I remember logging in and the first thing that popped up when I just as I log in, you know, Mr. Trump, would you create like to create a Fidelity digital asset wallet? >> Uh-huh. >> And I just started laughing, right? Like I mean, who who's more in the digital space than me and the crypto space than me? And I and so I clicked yes. I signed a little there's a little check box. You sign this disclosure. And then all of a sudden, right under your 401k, you know, you have the digital asset wallet. Now all of a sudden, you're able to trade Bitcoin, Ethereum. And I'm saying they're saying, okay, you've got a company that's got like, you know, I I mean, don't quote the exact number, but it's like 30% of of the total 401ks in our country. That literally everybody who just went to log in by hitting a simple yes and checking a little, you know, disclaimer, you know, it took me exactly 1 and 1/2 seconds to do, now all of a sudden has has a digital asset wallet, you know, wallet number and they're able to trade the very things that, you know, you and I are are passionate about. And it's happening, it happened with Fidelity, it's happening very very quickly with Schwab. I know the guys over there, they're incredibly focused on it, right? You see you see you see the digi-days, you know, the the the way they want to digitize, um, you know, equity, security. They're already doing it. They don't even need the, you know, corporate permission. I mean, people were, you know, digitizing, you know, literally shares of of SpaceX and and many other companies. You know, you're you're going to see that. You're going to see artists. Taylor Swift. She comes out with an album. You know, why why wouldn't she go? Why does she have to go Sony Music? Why does she just go out to her, you know, you know, 20 million Swift fans? I'm sure it's many more than that. And say, "Listen, guys, how about everybody buys in for $1,000? You can own, you know, one one millionth of of this album. You know, you can be my partner." They'd love to do that. I mean, you know, regardless of the actual return, you know, they believe in her. They love her brand. You know, they want to be part of something, you know, to get some kind of closer in the ecosystem that they're otherwise big fan of. You're going to see this with art. You're going to see this with Hollywood. You're going to see this with commodities. You're going to certainly see it with with real estate and and in my business. Why do I have to go out to Deutsche Bank if I want to get financing? Why can't I go out to the hundreds of millions of people who who adore, you know, our company, our family, our hotels and say, "Hey, you listen, who wants to um who wants to co-invest in, you know, a a project in in uh you know, in in in the Maldives? A beautiful resort, right?" And and and have all the perks that come associated with that. And you can create these ecosystems. So, that's happening. World Liberty is is is truly one of the great um you know, projects that that we're involved in. We're the fastest-growing stablecoin on Earth right now. Um you know, it's obviously USD one. Incredibly proud of that. So, you know, you have the Bitcoin side. And then you really have the stablecoin side. And you know, I really view one as being great store of value. And I really believe that, you know, the other is going to be the rails on which uh the world operates. But uh we started that company long before my father got back into politics. And um and it's been a absolute wild ride. We just received our you know, our our temporary kind of OCC charter. Um you know, turning us into kind of um you know, preliminary stages of bank. And uh and we're really excited about it. I mean, it's awesome company uh run by Zach Weikoff. He's a great friend of ours. And um and uh USD one is doing incredibly well, growing incredibly quickly um all over the Earth. And we're uh we're really proud of it. And and we're proud to do it. No different than American Bitcoin using American energy to to you know, we're really proud to have USD one um you know, kind of really leading the pack of stablecoins because you better believe that um that is that is here to stay and and that will be kind of the rails by which modern banking runs on. >> Yeah, it's well said. There's a huge need for stable coins, absolutely, especially in a world that continues to adopt more Bitcoin. To kind of wrap this up and a lot of great messaging here, I'd love to give people something actionable. For a lot of the retail audience that watches this and different people, what's something that, hey, you want to make sure you're not falling behind? You're somebody that wants to be at the edge of the curve. Go out and do these things so that you can make sure that you're staying educated and involved in these systems. >> It doesn't make sense until you do it, right? I mean, when when when I when I first got involved, I I kind of went down the rabbit hole of DeFi just because I really want to understand it. Whether or not you choose to use it, right? And you know, you you want to be able to understand it and how it works and and and why it works and why it makes sense, right? Open go go open up an account. Go to Coinbase. Go to Go to Robin Go go to whoever, you know, you want. You know, open up an account. I don't care if you put five bucks in there, but but but but understand it, you know, you know, buy buy five bucks worth of Bitcoin. Buy $5 worth of Ethereum. Buy $5 worth of a stable coin. You know, really understand how the rails can work and I and I think when you see it in practice and you start interacting with it, wow does it open your mind to kind of the possibilities ahead and and and where and where the world is going and um and uh again, you know, I'm really proud that we're leading the way as as as Americans. We we ought to lead the way. I think there are great things to come. I I think we are on the you know, we we have 99 more yards to go. People always say, "Hey, you know, did I did I miss the opportunity?" No no chance. Like like I mean, the rate of kind of ex- expansion of this industry is is astronomical and and our best days are ahead and listen, you know, we are at 126,000 for for BTC. We're about 81,000 today. You and I were talking about this right before we came on and it was pretty amazing considering what, you know, a week ago, 2 weeks ago was it was 64,000. Before that, it was, you know, in the high high 50s. It can really be explosive. Now, you have to have backbone. And I say this every single time. Like, you know, if you're afraid of seeing something drop 20% and and and you're going to run for the hills, don't even think about it. Go, go buy muni bonds and you know, go you know, yeah. You go watch your money effectively get beaten by inflation, which it will. You're going to go backwards. Um you know, if you if you have the ability to have some longevity and you're willing to stay in something for 5, 6, 7, 8 years, uh and you're you're you're willing to buy the bottoms, you're willing to buy the dips, you're willing to have conviction, um you don't fold, you don't you know, you know, when when when the tide starts going out, you don't you don't immediately If you're the person who has bad bone and gall, it's the right industry for you. If you don't, honestly, just stay the hell out of cryptocurrency and you know, go go go put your money in a you know, JP Morgan savings account where you're getting 10 basis points and and you know, and good luck, right? And um but have fun with it. I mean, really really have fun with it. There's so many different aspects of it. Um and um it is our future and I believe in it as much as anything in my soul. And again, this is coming from a guy who was a hard asset person, right? Who never who never thought I'd be out here espousing the benefits of >> Who would have thought? >> of the Who would have thought? I certainly would not have, but it's a it's been one of the most rewarding missions of my life between World Liberty and between American Bitcoin and um and just being a little bit of a champion for an industry that really needed a champion early on. Like it was pretty unpopular for a while standing on that stage in a suit as a credible person and you know, at the same time it was you know, I I made some of the best friends I'll ever make and you know, had had some of the best times I've ever had.