Eric Trump lashed out against Big Banks for targeting Crypto and stablecoins, essentially not letting Americans make as much money as they could be.
An “Anti-American” Crypto Agenda
In a post on social network X on March 4, following his father Donald Trump’s message accusing banks of “undermining” the GENIUS Act, Eric Trump subsequently called out big banks like JPMorgan Chase, Wells Fargo and Bank of America.
He claims these banks are actively blocking Americans from “getting higher yields on their savings” and preventing “any rewards or perks from being given to customers,” arguing this is happening because they are “desperately targeting crypto/stablecoins, where platforms plan to offer 4–5% yields or rewards.” He goes as far as saying this stance betrays America’s freedom ideals:
The ABA and other lobbyists are spending millions trying to ban or restrict those yields via bills like the Clarity Act, crying “fairness” and using words like “stability”—when it’s really about protecting their low-rate monopoly and preventing deposit flight. his is anti-retail, anti-consumer, and straight-up anti-American.
The Greatest Hypocrites
In a different post from the same day, Eric Trump doubled down, accusing Big Banks of “doing everything they can to block the crypto industry” and branding them institutions that have “held a monopoly and screwed their customers for years.”
As Eric Trump sees it, this comes as a sort of tantrum, the last-ditch effort of a scared institution to keep control of Americans’ savings:
They are the greatest hypocrites and are in mass panic given they know they are losing the digital finance race!
The GENIUS Act vs. The Clarity Act
Both Donald and Eric Trump’s rants respond to a broader context: two flagship Trump-era bills are being weaponized against each other by the TradFi institutions.
The GENIUS Act, last year’s “big win” for payment stablecoins, legalized fully‑backed dollar tokens while explicitly banning issuers from paying interest on customer balances, a compromise that pushed yield into exchanges, fintech apps and DeFi protocols instead of killing it outright.
Now the banking lobby wants the CLARITY Act to finish the job: they are demanding a blanket prohibition on “yields, rewards or inducements” for stablecoin holders, closing the GENIUS loophole that still lets platforms compete with near‑zero bank accounts.
This is the fight the Trumps are now front running: an active opposition against those that are trying to make sure digital dollars can never pay ordinary savers more than the legacy system does.
BTC’s price trends to the downside on the daily chart. Source: BTCUSD on Tradingview
Cover image from ChatGPT, BTCPUSD chart from Tradingview
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
