00:03Eric Trump faced online criticism for using an extreme example to promote cryptocurrency on Fox Business,
00:09with critics saying his comments showed a disconnect from average American's financial concerns.
00:15During his appearance on Mornings with Maria, Eric Trump criticized traditional banking for its cutoff times on wire transfers.
00:21There's no reason at 5 o'clock on a Friday afternoon I shouldn't be able to send out a swift wire transfer, he said.
00:28Right now, you can't. I try and make a transfer every single week, and you're trying to push before the 5 o'clock deadline.
00:35How is that modern-day finance? He continued.
00:38As a contrast, he praised cryptocurrency.
00:41You can send $500 million worth of Bitcoin on a Sunday night at 5 p.m. while having a glass of wine with your wife for virtually zero fees, said Trump, co-founder of American Bitcoin.
00:52Matt Fuller of MSNBC responded to Trump's statement saying,
00:56Don't let anyone tell you the Trumps are out of touch with rising costs.
01:00Political commentator Franklin Leonard added,
01:03Is that before or after you figure out how you're going to feed your family without the snap payments his father went to the Supreme Court to suspend?
01:10I just want to get the sequencing right.
01:13Analysts and journalists mocked Eric Trump's claim that massive Bitcoin transfers represent everyday banking frustrations.
01:19With jokes highlighting how unrealistic and out of touch the example was, the derision continued as others joined in.
01:26Just like every normal American does, quipped the Bulwark's Colin Jones.
01:31Progressive media outlet Meta's Touch declared Trump a man of the people, while its editor-in-chief, Ron Filipkowski, wrote,
01:38They love you, MAGA, everything they do is for you.
01:42Trump argued that cryptocurrency bypasses outdated systems.
01:46Cryptocurrency is going to fix every single one of these issues.
01:49Bitcoin is digital gold, he said.
01:53The backlash highlighted the political risk of showcasing crypto as a symbol of extreme wealth,
01:58with Trump's example emphasizing the gap between political elites and everyday Americans.
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