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🌟✨️💥 Eric Trump criticizes banks over pressure on stablecoin yields, calling them "anti-American"
Eric Trump, co-founder of World Liberty Financial, attacked JPMorgan, Bank of America, and Wells Fargo on X this week, accusing them of spending millions to prevent stablecoin yields while protecting their own profit margins.
His main argument is that banks earn over 4% from the Federal Reserve, pay depositors 0.01–0.05% APY, and are now heavily pressuring to prevent digital asset platforms from offering yields between 4–5% to customers. "Anti-retail, anti-consumer, and directly anti-American," he wrote.
Trump reiterated his frustration, warning banks against undermining the GENIUS Act or holding it hostage to the CLARITY Act. The CLARITY Act passed the House with bipartisan support in July 2025 and aims to clarify SEC and CFTC oversight of digital assets, but it stalled in the Senate Banking Committee after missing the March 1 deadline set by the White House.
Mid to late March is now being floated as a potential review session date. Can Congress act before election politics take over?
Eric Trump, co-founder of World Liberty Financial, took aim at JPMorgan, Bank of America, and Wells Fargo on X this week, accusing them of spending millions to block stablecoin yields while protecting their own margins.
His core argument rests on the fact that banks earn over 4% from the Fed, pay depositors 0.01–0.05% APY, and are now lobbying hard to stop crypto platforms from offering 4–5% yields to customers. "Anti-retail, anti-consumer, and straight-up anti-American," he wrote.
President Trump echoed the frustration, warning banks against undermining the GENIUS Act or holding the CLARITY Act "hostage." The CLARITY Act passed the House with bipartisan support in July 2025 and aims to clarify SEC and CFTC oversight of digital assets, but it stalled in the Senate Banking Committee after missing the White House's March 1 compromise deadline.
Mid to late March is now being floated for potential markup sessions. Can Congress move before election-year politics take over?
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