Original Interview: Justin Sun, Founder @ TRON;
Guests: Eric Trump, Executive VP @ The Trump Organization; Zach Witkoff, Co-Founder @ World Liberty Financial;
Original Translation: Translator Deep

Editor's Note: In this discussion, Justin Sun, Zach Witkoff, and Eric Trump talk about the future of World Liberty Financial and cryptocurrency. They criticize the low transparency, accessibility, and efficiency of the traditional financial system, emphasizing that the USD1 stablecoin provides transparent and fast cross-border payments through blockchain technology, aiming to bring financial freedom to the 1.4 billion unbanked people globally. They believe that cryptocurrency will disrupt the outdated banking system, and the innovative environment in the UAE and the US under new leadership will lead this transformation.

Below is the original content (slightly reorganized for better readability):

TOKEN2049 OKX Main Stage, Image Source: TOKEN2049

WLFI Latest Progress

Justin Sun: Zach, it's great to be here today! We've met several times in Dubai before, and in just a few months, all the projects World Liberty Financial and we have collaborated on have made amazing progress. Congratulations! It's been an exciting journey. What are the plans for the future?

Zach Witkoff: Justin, thank you for your support. Tron is an incredible technology, and we are fortunate to work with you and other innovative projects. You have always been a leader in this field, and we are very grateful.

Justin Sun: Absolutely. World Liberty Financial has recently gained a lot of attention, with constant updates, and its market value has reached $2 billion, which is truly amazing! Can you share more details about this project and your outlook for the future?

Zach Witkoff: The founding of World Liberty Financial stemmed from our discovery of many flaws in the traditional financial system. There are many issues, and I can't list them all today, but let me mention a few. Firstly, there is a lack of transparency. Large banks lack transparency, and no one knows what they are up to internally. They often only serve the elite and sometimes exploit customers. Secondly, there is an issue of accessibility—there are 1.4 billion people globally without bank accounts, and this number is staggering. Thirdly, there is inefficiency in cross-border payments. My co-founders Chase Hero and Zach Folkman and I have traveled the world, engaging with governments. In some countries, to acquire dollars, they have to pay fees as high as 9%, which is outrageous.

Today, we are still very excited to announce that USD1 has been chosen as MGX's official stablecoin for ByteDance's $2 billion investment. Thanks to MGX and ByteDance for their trust in us, and this is just the beginning.

Zach Witkoff, Image Source from TOKEN2049

How is Cryptocurrency Reshaping the Modern Financial System?

Justin Sun: I completely agree. Eric, you have said that the modern financial system is not at all "modern." We see issues in the traditional financial system similar to "cancel culture." Could you share your experience and insights on how we can reshape the financial system?

Eric Trump: I have spent my entire career in the traditional financial system, which works well for the top 1% or 0.1% but not at all for the majority. It wasn't until my family got involved in politics that I realized how fragile this system is. If you say something they don't like, they will "cancel" you, ostracize you, or even pursue you endlessly.

This led me to explore cryptocurrency. I am an advocate of hard assets—I have built buildings around the world all my life. But due to political reasons, banks attacked us like beasts. I found that those attacking us were also targeting the crypto community. As the saying goes, the enemy of my enemy is my friend. That is why real estate and the crypto world have come together. Real estate has poor liquidity and is difficult to transfer, with only a few able to participate on a large scale. Cryptocurrency, on the other hand, has strong liquidity, easy transferability, and anyone can participate, making it a perfect hedge for hard assets.

Eric Trump, Image Source from TOKEN2049

This experience made me see how outdated and broken the modern financial system is. Why should a big bank like Chase Manhattan take 90 to 120 days to lend to a 25-year-old client? They are still using paper forms and outdated processes, while blockchain can complete these tasks instantly, with lower costs and greater efficiency. Every week, I chase a wire transfer because the SWIFT system is just not reliable. Cryptocurrency can transfer Bitcoin, USD1, or any other currency worldwide in seconds—cheaper, faster, and more transparent.

When banks canceled our family's accounts for political reasons, we became some of the most severely "canceled" people in the world. I believe that cryptocurrency and our efforts at World Liberty Financial will make those banks regret it. They will be left behind, and the financial system will undergo a complete transformation.

Zach Witkoff: Justin, we often say at World Liberty Financial: "Pigs will get fat, but the greedy pigs will get slaughtered."

Justin Sun: Haha, exactly! World Liberty Financial is a great example where we can use finance to change the world. If those banks don't join us early on, they will be left behind, right?

Zach Witkoff: Absolutely right. Banks have only two choices: either turn around their huge "freighter," which will take a considerable amount of time, or, as you said, be left in the dust. Time will tell which path they choose, but hopefully, they align with the right side of history.

Justin Sun: Absolutely.

Eric Trump: Banks are almost impossible to turn around because their entire business model relies on arbitrage and fees that cryptocurrency can easily replace. Transferring funds from New York to Abu Dhabi is a nightmare—finding bank branches, dealing with exchange rates, trusting the other party, and paying various fees to the issuing bank, receiving bank, currency conversion, and technology. Cryptocurrency makes all of this redundant. If banks don't embrace cryptocurrency now, they will be like the old film cameras of the digital age. Their systems haven't changed much since the 1970s, while the development pace of cryptographic technology is 100 times faster. They can't keep up with the innovation in this room. There's nothing more satisfying than seeing those banks that viciously attacked us and others being defeated by us.

Justin Sun: You're absolutely right. One of the significant advantages of the crypto world is transparency. Everything happening on the blockchain is visible at a glance. Trust in traditional finance has plummeted. In the US, banks can go bankrupt overnight; in Hong Kong, clients may not even know where $5 million went. Blockchain makes such occurrences impossible because everything is transparent.

Zach Witkoff: Justin, you said it perfectly. We're building USD1 not only to enable seamless cross-border transactions but also to ensure transparency and consumer safety. Our industry cannot afford more scams. USD1 will be the most transparent and regulated stablecoin globally, with monthly audit reports. We are backed 1:1 by short-term government bonds and cash equivalents. Think about it, would you rather keep your money in an asset backed by a 1:1 reserve or in a tiered-reserve bank account where you don't even know the details?

How Does WLFI Achieve Financial Democratization?

Justin Sun: Eric, everyone is familiar with your family and business, but they may not know about your commitment to financial freedom. Could you talk about how World Liberty Financial achieves this value?

Eric Trump: In 2019 and 2021, I received letters from some major banks - banks we had been working with for 20, 30, or even 40 years - saying our accounts were being closed. This happened in the United States, the world's economic superpower. I could not believe that this kind of "cancel culture" was sweeping the globe. Fortunately, the Middle East, especially the UAE, has effectively resisted this absurd behavior. You'll find that a person sitting in a lofty bank building can ruin your life, business, and livelihood. Our family has enough resources and influence to fight back, but most people do not.

In inflation-ridden or technologically underserved countries, people are completely excluded from the financial system. But now almost everyone has a smartphone in their pocket. Through a smartphone and stablecoins like USD1, which is backed 1:1 by U.S. Treasuries, people can invest, participate in the global economy, and are no longer at the mercy of unreliable governments or currencies. Cryptocurrency, just like the Internet did for knowledge, has created a level playing field. This is a blessing for humanity, and it's why we are proud of USD1 and World Liberty Financial.

The dollar is highly regarded globally - many places in South America and Asia want the dollar because it is stable and tradable. Digitizing the dollar, spreading it worldwide through USD1, is secure and convenient. This is the reason for World Liberty Financial's explosive growth and why everyone is talking about USD1.

Justin Sun: I completely agree. This aligns with the original intention behind founding Tron - to build a crypto ecosystem that serves financial freedom, not just for profit. Major banks have excluded billions of people because it was not profitable for them. We are honored to collaborate with USD1 to launch this stablecoin, giving 7 billion people the opportunity to enjoy financial freedom.

Zach Witkoff: Justin, you just let the cat out of the bag, but I am pleased to announce that USD1 will be natively integrated into Tron. We will begin minting hundreds of millions of USD1, and we expect to quickly reach a market cap of several billion. Thank you very much for your support. Our goal at World Liberty Financial is to democratize finance, bridging the gap between DeFi and traditional finance. In the next four to five years, DeFi and traditional finance will seamlessly merge and be inseparable.

What More Should the U.S. Do in the Cryptocurrency Field?

Justin Sun: Zach, the new U.S. government is working hard to make the cryptocurrency industry more competitive. What do you think they can do next, in conjunction with the efforts of World Liberty Financial, to shape America's future?

Justin Sun, image source from TOKEN2049

Zach Witkoff: We should learn from the UAE. They have maintained family and cultural values while being innovative, making them one of the most innovative countries globally. They make decisions swiftly while reasonably protecting consumers, not hindering innovation. If the US could emulate this model, the prospects would be limitless.

Justin Sun: Eric, you have visited Dubai multiple times and witnessed the city's transformation from scratch to its current glory. The first time I attended Token 2049, the scale was far smaller than it is today. Today, this place has become a crypto hub. What are your thoughts?

Eric Trump: I have been coming to the UAE since 2006, started working here in 2011, built a fantastic golf course, and recently announced the Trump International Hotel on Sheikh Zayed Road. The UAE always says "yes" quickly to good ideas. In contrast, European bureaucracy is frustrating—In Ireland, we spent seven years and endless resources adjusting a golf course green for a tiny snail. The UAE is different; we obtained a permit within a month for a 1150-foot tall building with the world's highest pool because they embrace innovation.

The UAE looks to the future, planning a vision for 30 years ahead, rather than dwelling on the past. This aligns perfectly with the concept of crypto. The rest of the world has not yet recognized future trends. A year ago, a friend of mine who runs a bank in Connecticut called cryptocurrency "funny money." Now he comes asking me how to invest in World Liberty Financial and Bitcoin. We are in the early stages of the crypto revolution, and those who see the trends early will be the winners. The UAE and the US, under excellent leadership, have already seen this.

The old financial system—a banking system of nine to five, with an hour and a half lunch break, employing thousands to do trivial tasks—is outdated. Regions like the UAE and the US, flexible and visionary, will win in this crypto revolution.

Justin Sun: I have visited Dubai many times, got my UAE ID card last year, much faster than the US DMV! I will be going to the US in May to see the significant changes brought about by the new government after 100 days in office. It's truly moving in a positive direction.

Zach Witkoff: No doubt. As Eric said, excellent leadership brings good results. The UAE is one of the most successful countries globally, with high citizen happiness. People come and don't want to leave because of outstanding leadership. They are leading in crypto, AI, robotics, and the USD1 will play a crucial role in this new digital world.

Justin Sun: Lastly, Zach and Eric, do you have any thoughts on cryptocurrency and financial freedom that you would like to share with everyone?

Zach Witkoff: World Liberty Financial has many exciting plans in store, so stay tuned. We are advancing multiple DeFi integrations, aiming for USD1 to become the preferred stablecoin of the DeFi and CeFi ecosystems. At the same time, my co-founder Zach, Chase, Eric, his brother, and I are working hard to integrate USD1 into traditional retail payment systems. Our goal is for you to be able to spend USD1 at a hotel in Abu Dhabi or a deli in New York. That day is not far away. Justin, thank you for your tremendous support.

Eric Trump: [Jokingly] Zach almost got punched. You have to say spending USD1 at the Trump International Hotel, not the Four Seasons! Our team—Zach, Chase, Scott, and others—is working tirelessly every day to drive financial modernization forward. The crypto industry must self-regulate, avoid scams, and enhance user experience. DeFi is too complex now—wallets, Aave, MetaMask, gas fees, swaps—ordinary people are completely lost. We need to make it simple and intuitive. The sooner we do that, the faster mass adoption will come, and the quicker we can defeat those big banks that dislike us.

On behalf of my family and team, I thank Dubai, Abu Dhabi, the UAE, and everyone present for your trust in World Liberty Financial. We love you!

Zach Witkoff: Love you all! Thank you!

Justin Sun: Love you all! Thank you!

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