- Eric Trump asks traditional banking, endorses blockchain so faster, cheaper and more transparent.
- Jamie Dimon warns of recession, while he confirms his skepticism against Bitcoin.
On May 16, Eric Trump led to the conversation in the financial world by focusing on JPMorgan Chase and questioning the relevance of traditional banking institutions in today’s rapidly evolving digital economy.
Blockchain emphasizes as a superior alternative, his comments came shortly after JPMorgan Chase CEO Jamie Dimon expressed concern about threatening recession risks and rising global uncertainty in a Bloomberg interview.
Eric Trump criticizes JPMorgan Chase CEO
Said rump during a appearance On CNBC.
“So why do these banks even have to exist? What is JPMorgan Chase that Defi and Blockchain is not better, cheaper, more efficient, more transparent?”
For those who were not aware, Dimon had expressed concern about the economic instability that was fed by the direction of Trump’s foreign policy, warning that such uncertainty is rarely favorable for business environments.
Although he was of the opinion that recent tariff measures may not be as inflection as the only fear, Dimon noted that market volatility continues to create mixed results for customers, some benefit from price fluctuations while others suffer those losses.
JPMorgan Chase’s Crypto -approach
He also emphasized that despite the diplomatic breakthrough of the Trump team with the government of Sir Keir Starmer, the fear of global market dynamics remains unsolved.
He added,
“I would expect continuous volatility. I think it is a mistake to think that we can go through all the things we go through and the volatility ourselves will come down.”
Dimon emphasized a mix of domestic and international pressure, ranging from increased interest rates to increasing shortages and global conflicts that contribute to market uncertainty.
He warned that there is a 50% chance of an American recession.
Dimon in particular has remained an avid bitcoin [BTC] Skeptic, famous branding the ‘worthless’ and a ‘fraud’, who positions him at odds with the growing momentum behind digital finances.
A year ago he said too,
“I defend your right to smoke a cigarette, I will defend you right to buy a bitcoin.”
Eric Trump supports his father
Eric Trump, however, was strong with what the current president is doing. He supports his father’s stand at Consensus in Toronto, Canada, he said”
“There is a famous saying that sometimes the enemy of your enemy is actually your best friend. Those were the Trumps with the crypto community. And I think the banks made the biggest mistake of their lives.”
Moreover, Eric Trump, speaking from Dubai, gave a grim message to the traditional banking world, ie, adjusting or being confronted with irrelevance.
He emphasized the rapid rise of the VAE as a global crypto -hub and criticized the inefficiencies of older financial systems and called them outdated, expensive and slow.
According to Trump, the future belongs to faster, decentralized technologies and banks that do not want to evolve can remain in this changing digital landscape.
Current market conditions
This coincided with Bitcoin, which floated around $ 102,996.80, despite a slight dip of 0.74% in the last 24 hours according to Mint market cap.
If you see this, the growth of BTC, even old critic Peter Schiff, could not resist weighing.
In a surprising moment of Satire on X (formerly Twitter), Schiff, usually known for rejecting the value of Bitcoin, recently admitted that the digital asset has finally found a legitimate use case.
Although the comment might have been in the cheek, it even underlines how the growing relevance of Bitcoin even forces its heaviest skeptics to notice.