Eric Trump criticizes banks over stablecoin yield, calls it 'anti-American'

Eric Trump, co-founder of World Liberty Financial, criticized major banks for lobbying against yields on stablecoins and called the effort 'anti-American' as they seek to protect a low-rate monopoly. His remarks came as his father escalated attacks on the banking lobby over the stalled CLARITY Act.

He noted that big banks pay standard savings rates as low as 0.01–0.05% APY while the Federal Reserve pays those banks over 4%, creating a spread that produces record profits not returned to everyday depositors. Trump identified crypto platforms planning to offer yields of 4–5% or more as the targets of lobbying by the American Bankers Association and other groups, which he said are spending millions to block or limit those yields.

Trump said banks frame their opposition in terms like 'fairness' and 'stability' but that the real aim is to keep customers’ deposits from moving.

United States

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