Eric Trump Advocates Cryptocurrency After De-banking by Capital One, JPMorgan Chase

Eric Trump, executive vice president of the Trump Organization, has asserted that the de-banking practices of major US banks, including Capital One and JPMorgan Chase, have created a compelling case for the adoption of cryptocurrency. In a recent interview, Trump claimed that he has been a victim of what he describes as "cancel culture" perpetrated by these financial institutions.

When asked which banks had de-banked him, Trump mentioned Capital One as the most significant offender, stating that he has recently filed a lawsuit against them. He also mentioned that JPMorgan Chase had canceled his accounts. Trump recounted the shock of receiving calls from these banks, informing him that his accounts would be closed within two weeks. He highlighted the impact on his properties, which employ thousands of people, and the disruption caused by the sudden closure of these accounts.

Trump's experience with de-banking has led him to become a strong advocate for cryptocurrency. He described the bank accounts as ecosystems that were targeted viciously due to his father's political position. Trump believes that the actions taken by these banks were politically motivated and unfair, targeting individuals and businesses they did not support. This realization opened his eyes to the potential of cryptocurrency, which he sees as a more efficient, cheaper, and faster alternative to traditional banking systems.

Trump, who has a background in real estate and hard assets, initially had reservations about cryptocurrency. However, his experiences with de-banking and the political motivations behind these actions have changed his perspective. He now views cryptocurrency as a powerful tool that can challenge the dominance of traditional banks and provide a more equitable financial system.

Trump's comments highlight the growing tension between traditional financial institutions and the emerging world of cryptocurrency. As more individuals and businesses face de-banking due to political or ideological reasons, the appeal of decentralized financial systems like cryptocurrency continues to grow. Trump's endorsement of cryptocurrency adds to the growing chorus of voices advocating for its adoption as a means of circumventing the perceived biases and inefficiencies of traditional banking.