Eric Trump Calls Banks ‘Anti-American’ Amid Stablecoin Yield Fight in U.S. Crypto Bill

TheNewsCryptoPublished on 2026-03-05Last updated on 2026-03-05

Abstract

Eric Trump, co-founder of World Liberty Financial and son of Donald Trump, has criticized major banks as "anti-American" for opposing stablecoin rewards in proposed U.S. crypto legislation. He accuses banks of lobbying against features that allow consumers to earn 4-5% yields on stablecoins, arguing they want to protect their own low-interest savings accounts and prevent deposit outflows. This debate is central to the Clarity Act, which aims to establish crypto rules. World Liberty Financial, issuer of the USD1 stablecoin, is seeking a banking charter amid this conflict. Donald Trump also criticized banks after meeting with Coinbase's CEO, highlighting the broader tension between traditional finance and the emerging crypto sector over consumer choice and financial innovation.

Eric Trump, who is the co-founder of World Liberty Financial and the son of U.S. President Donald Trump, has criticized major banks for opposing stablecoin rewards in ongoing discussions on crypto legislation. He accused the large banks of lobbying against stablecoin yield features that could enable Americans to earn high returns on their digital assets.

Yield’s Debate

Trump argued that major banks are trying to prevent consumers from accessing better interest rates through crypto platforms. According to Trump, banks currently pay very low interest on the savings accounts while earning higher rates themselves from the federal reserves. He also claimed that the crypto platforms offer stablecoin rewards of around 4% to 5%, which is the reason the banks are pushing lawmakers to restrict those rewards.

The dispute is linked to the ongoing discussion on the Clarity Act, which aims to set rules for crypto. Banking groups are reportedly lobbying against stablecoin yield features. They argue that allowing these rewards could move deposits away from the traditional banks. This debate is also important for World Liberty Financial, which issues a stablecoin called USD1. The company is currently seeking approval from the Office of the Comptroller of the Currency to obtain the banking charter.

President Donald Trump also commented on the issue and criticized banks for resisting stablecoin provisions. His remarks came shortly after a meeting with Brian Armstrong, who is the CEO of Coinbase, a major cryptocurrency exchange, who had previously withdrawn support for the bill over concerns about its stablecoin rules.

This dispute highlights a conflict between the traditional banks and the crypto sectors over digital finance. Crypto supporters argue that these products give consumers more options and better returns. The outcome of this dispute influences how the stablecoin operates and competes with the banks in the future.

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TagsCrypto Billeric trumpStablecoin

Related Questions

QWhat is Eric Trump's main criticism against major banks in the context of the crypto bill discussions?

AEric Trump criticizes major banks for being 'anti-American' and lobbying against stablecoin yield features that would allow Americans to earn high returns on digital assets, arguing they want to prevent consumers from accessing better interest rates.

QWhat specific interest rate advantage do crypto platforms offer compared to traditional banks according to the article?

ACrypto platforms offer stablecoin rewards of around 4% to 5%, which is significantly higher than the very low interest rates banks currently pay on savings accounts.

QWhich legislative act is central to the stablecoin regulation debate mentioned in the article?

AThe Clarity Act, which aims to establish rules for cryptocurrency, is central to the ongoing debate about stablecoin regulation.

QWhat is the name of the stablecoin issued by Eric Trump's company, World Liberty Financial?

AWorld Liberty Financial issues a stablecoin called USD1.

QWhich cryptocurrency exchange CEO recently met with Donald Trump and had withdrawn support for the crypto bill?

ABrian Armstrong, the CEO of Coinbase, met with Donald Trump and had previously withdrawn support for the bill due to concerns about its stablecoin rules.

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