- Eric Trump accuses major banks of shutting out rivals and calls the financial system "incredibly dishonest," touting crypto as an alternative.
- His comments spark bullish retail investor sentiment and talk of targeting firms like JPMorgan and Bank of America.
In a recent video clip shared on X, Eric Trump, executive vice president of the Trump Organization, has made a striking statement about the financial system, hinting at potential actions against major financial institutions.
During an appearance on CNBC, Trump expressed strong sentiments about the current state of the financial sector, particularly focusing on its perceived dishonesty and inefficiencies.
“We had to get into cryptocurrency. We didn’t have any other avenues, the largest financial institutions shut us out,” Trump stated, reflecting on past experiences with traditional banking.
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He further elaborated, “Now they’re all coming back every single day. The very same people who canceled us are saying, ‘Oh yes! We’d love a relationship with you.’ Our financial system is so dishonest. It is incredibly dishonest.”
Retail Investors Pounce on Announcement
Trump’s comments come at a time when retail investor sentiment on X is notably bullish, with many users expressing enthusiasm for cryptocurrencies and decentralized finance (DeFi) as alternatives to traditional banking.
The AAII Investor Sentiment Survey, which tracks market sentiment among individual investors, has shown a significant uptick in optimism, with many attributing this to the potential for disruption in the financial sector.
Recent news has also highlighted Trump’s ongoing interest in cryptocurrencies.
In April 2025, he told CNBC in Dubai that “The modern financial system is broken, it’s slow, it’s expensive,” advocating for the adoption of blockchain technology.
This sentiment was echoed in his latest remarks, where he suggested that blockchain could replace many traditional financial institutions, stating, “I would love nothing more than to see blockchain replace so many of these institutes that are punitive.”
The video clip, which has garnered attention on X, shows Trump criticizing the advantages held by powerful companies and individuals within the financial system.
“The people in our financial system who have always had the advantage are guys like us. Powerful companies with famous last names, with a lot of zeros on their balance sheet.
They’ve been the worst for an average retail consumer who doesn’t stand a chance against traditional financial systems,” he said.
Investors Look Toward JPMorgan and BofA
Trump’s advocacy for cryptocurrency and blockchain is not new.
In November 2025, he reiterated his bullish stance on Bitcoin, calling it “the greatest asset of our time” and predicting significant growth, although he acknowledged it might take “some years” to reach his $1 million prediction.
The sentiment on X has been overwhelmingly supportive of Trump’s stance, with users like @Solix_Trade asking, “Who do you want him to go after?” and suggesting names like JPMorgan Chase ($JPM) and Bank of America.
Another user, @Antman07532103, simply stated, “Eric vs Banks? Popcorn ready,” indicating a keen interest in potential conflicts between Trump and major financial institutions.
Despite the enthusiasm, not all reactions have been positive. Some, like @eazbiz, expressed skepticism, warning that Trump might be “leading us down another dead end waste of time.”
Trump’s comments also touch on the broader issue of financial inclusion and the power dynamics within the banking sector.
He argued that cryptocurrencies and blockchain technology could level the playing field, offering, “Crypto solves all that. Blockchain solves it. There’s nothing that can be done by blockchain that JPMorgan Chase can do, that Bank of America can’t be done better, faster, cheaper, and more transparently.
What Happens Now?
As the conversation around financial system reform continues, Trump’s remarks have sparked a debate about the future of banking and the role of technology in democratizing finance.
Whether this leads to tangible actions against big financial institutions remains to be seen, but the sentiment on X suggests that many retail investors are ready for change.
Will financial institutions get it handed to them? Curious to know what you think.
Leave your thoughts below.
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