(1 May 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Dubai, UAE – 1 May 2025
1. Wide of "Token2049 Dubai" conference
2. Close of "Token2049 Dubai" sign
3. Various of audience
4. Eric Trump walking on stage UPSOUND (English) "How are you Dubai?"
5. SOUNDBITE (English) Eric Trump, Vice President of The Trump Organization:
"Guys, our system is broken. Modern finance is absolutely broken and so when the banks came after our family, I’ll never forget it, we became the most cancelled people in the world, all because we’re associated with politics in the United States. And honestly, I really do believe that cryptocurrency, and certainly our venture into cryptocurrency is going to make the big banks regret that and I believe that the crypto world is going to take over those big banks. I think it’s going to leave them in the dust, and I think it’s going to change our modern financial system forever."
6. Wide of conference
7. SOUNDBITE (English) Eric Trump, Vice President of The Trump Organization:
“I can’t tell you guys, I work all over the world. You know, Europe has become a lost cause. It really has, and that hurts my feelings to say, but they are impossible to deal with, and it is impossible to get them to the word, yes, if I’m building a great golf course somewhere.”
8. Mid of conference
9. SOUNDBITE (English) Zach Witkoff, Co-Founder of World Liberty Financial:
“It’s a good time for another announcement that we will be natively integrating USD1 on Tron. We’re very excited about that. We should be minting, you know, in the hundreds of millions of dollars to start, and I expect it to reach many billions of market cap very shortly. But we’re just incredibly grateful for your support. You know, I touched on it earlier, but it’s 1.4 billion unbanked citizens globally and that’s just what they report on, right? I’m sure there’s many others in that category that are what we call underbanked, and you know, our goal at World Liberty is really to democratize access to the financial system and really bridge, DeFi (Decentralized Finance) with traditional finance. You know, I think we will live, we’ll wake up in a world in four or five years where the two things will kind of just merge, right? I think that you’ll see DeFi, and traditional finance just sort of come together in a way that they can’t ever really be untwined again.”
10. End of panel
STORYLINE:
Eric Trump called the financial industry a “broken system” and asserted that the crypto world industry will “take over big banks” at the Token 2049 Dubai conference in Dubai on Thursday.
The digital and crypto currency sectors converged on at the conference, which took place at the Madinat Jumeirah venue in Dubai.
Eric Trump, the son of U.S. President Donald Trump and Vice President of the Trump Organisation, was the keynote speaker.
During a discussion panel which included TRON founder Justin Sun and Zach Witkoff, Co-Founder of World Liberty Financial, Eric Trump explored the future of finance, politics and digital assets.
“Modern finance is absolutely broken and so when the banks came after our family, I’ll never forget it, we became the most cancelled people in the world, all because we’re associated with politics in the United States,” said Trump.
“I really do believe that cryptocurrency, and certainly our venture into cryptocurrency is going to make the big banks regret that,” he added.
He expressed his belief that the crypto industry would displace banks, stating “I think it’s going to leave them in the dust.”
AP video by Bassam Hatoum
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