Eric Trump: Major banks are sparing no effort to suppress cryptocurrencies/stablecoins.
03/05 03:15
Eric Trump, the second son of Trump, tweeted that large banks (such as JPMorgan Chase, Bank of America, Wells Fargo, etc.) are working overtime lobbying to prevent Americans from getting higher savings returns, while also trying to stop offering any rewards or incentives to customers. These banks pay extremely low interest rates on ordinary savings accounts (usually an annual rate of only 0.01% to 0.05%), while the Federal Reserve pays them interest rates as high as 4% or even higher. Such a huge interest rate spread creates their profits, and almost none of the profits are returned to customers/ordinary depositors.
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