PANews reported on May 1 that according to The Block, Eric Trump, executive vice president of the Trump Organization and Trump's son, said at the Token2049 event in Dubai that large banks will regret their actions against individuals and politicians in the cryptocurrency field. During a fireside chat with Zach Witkoff, co-founder of World Liberty Financial, and Sun Yuchen, founder of Tron, he said that the modern financial system has failed, banks have targeted the Trump family in the past, and the cryptocurrency world will take over large banks and leave them far behind. He believes that the banking business model relies on fees, which is difficult to maintain in the cryptocurrency environment. If it does not innovate, it will become redundant or even extinct, just like old-fashioned film and cameras. He pointed out that the innovation speed of cryptocurrency is much faster than that of banks, and he would be happy to see banks defeated by those they once targeted. He also said that cryptocurrency brings a fair competition environment, frees people from the constraints of untrusted governments or currencies, and more people can access financial services through mobile phones. In addition, he praised the UAE's willingness to carry out projects, criticized Europe for not being open to business, and said that the United States is much better than Europe.