- Eric Trump questions traditional banking services, approves blockchain as faster, cheaper and more transparent.
- Jamie Dimon warns against the risks of recession while reaffirming his skepticism towards Bitcoin.
On May 16, Eric Trump sparked a conversation in the financial world by targeting Jpmorgan Chase, questioning the relevance of traditional banking institutions in the rapidly evolving digital economy today.
Stressing the blockchain as a superior alternative, his comments came shortly after the CEO of Jpmorgan Chase, Jamie Dimon, expressed his concerns about the risks of imminent recession and the increase in global uncertainty in an interview with Bloomberg.
Eric Trump criticizes the CEO of JPMorgan Chase
RUMP said during an appearance on CNBC.
“So why do these banks even need to exist?” What is JPMorgan Chase means that this definition and blockchain cannot do better, cheaper, more efficiently, more transparent? ”
For those who do not know, Dimon had expressed his concerns about economic instability fueled by Trump’s foreign policy management, warning that such uncertainty is rarely beneficial for commercial environments.
Although it believed that recent price measures may not be as inflationary as some fear, Dimon noted that market volatility continues to create mixed results for customers, some benefiting from price speeds, while others are loss.
Cryptographic approach to JPMorgan Chase
He also pointed out that despite the diplomatic breakthrough of the Trump team with the government of Sir Keir Starmer, apprehensions surrounding the dynamics of the world market are not resolved.
He added,
“I would expect volatility to continue. I think it is a mistake to think that we can browse all the things we live in and volatility will drop. ”
Dimon has highlighted a mixture of national and international pressures, ranging from high interest rates to mounting deficits and global conflicts, which contribute to market uncertainty.
He warned that there was a 50% chance of American recession.
In particular, Dimon remained skeptical Bitcoin (BTC), calling it to qualify it as “worthless” and “fraud”, positioning it in contradiction with the growing momentum behind digital finance.
A year ago, he also said,
“I defend your right to smoke a cigarette, I will defend your right to buy a bitcoin.”
Eric Trump supports his father
However, Eric Trump was strong with what the current president does. Supporting his father position to a consensus in Toronto, Canada, he said,
“There is a famous saying that sometimes your enemy’s enemy is actually your best friend. It was the assets with the cryptographic community. And I think the banks made the greatest error in their lives.”
In addition, speaking of Dubai, Eric Trump has transmitted a brutal message to the traditional banking world, that is to say adapting or facing non-all.
Highlighting the rapid emergence of water as a global cryptography center, it has criticized the ineffectiveness of inherited financial systems, calling outdated, expensive and slow.
According to Trump, the future belongs to faster and decentralized technologies, and banks that do not want to evolve could find themselves in this changing digital landscape.
Current market conditions
This coincided with Bitcoin which oscillates approximately $ 102,996.80, despite a slight drop of 0.74% in the last 24 hours according to CoinmarketCap.
Seeing this, the growth of the BTC, even the longtime critic, Peter Schiff, could not resist weighing.
In a surprising moment of satire on X (formerly Twitter), Schiff, generally known for having rejected the value of Bitcoin, recently seemed to concede that the digital asset could finally have found a case of legitimate use.
Although the comment may have been ironic, he emphasizes how the growing relevance of Bitcoin even obliges his hardest skeptics to take note.
