Eric Trump has publicly accused major U.S. banks of lobbying against crypto platforms that offer higher yields to consumers, intensifying the ongoing tension between traditional finance and the digital asset sector.
He specifically named institutions such as JPMorgan Chase, Bank of America, and Wells Fargo, alleging that they are trying to prevent Americans from accessing crypto and stablecoin products offering annual yields in the 4–5% range, compared with the 0.01–0.05% typically offered by conventional banks. Trump claimed these lobbying efforts exploit regulatory and legislative channels, arguing that banks frame their opposition as concerns about “fairness” or financial stability while protecting their profit margins.
These remarks come amid debates over U.S. crypto legislation, including the CLARITY Act—which aims to define a regulatory framework for cryptocurrencies—and the GENIUS Act. Eric Trump’s father, former President Donald Trump, echoed these criticisms, urging Congress to act quickly to avoid the U.S. falling behind globally in the digital asset sector.
The situation underscores the growing friction between traditional banking institutions and crypto firms as policymakers consider rules that balance consumer protection, financial stability, and U.S. competitiveness in digital finance.
