Eric Trump: The U.S. Banking Industry Is "Enemy of America" in the Stablecoin Yield Battle

In the early hours of March 5th, World Liberty Financial co-founder and son of the U.S. President Eric Trump posted on X platform, sharply criticizing the U.S. banking industry's approach to stablecoin yields, directly stating that the banking sector is "an enemy of America."

Eric Trump directly targeted the banking industry's opposition to stablecoin yields in the legislative structure of the crypto market. He pointed out that major institutions like JPMorgan Chase, Bank of America, and Wells Fargo are exerting relentless lobbying efforts to prevent Americans from earning higher returns on savings and are attempting to hinder the provision of various rewards or benefits to customers.

Eric Trump further noted that the interest paid by banks to depositors is far below the interest the Federal Reserve pays to banks (the former's annual rate is only 0.01% to 0.05%). The banking industry is profiting by pocketing this huge difference.

Currently, crypto and stablecoin platforms plan to offer yields of 4% to 5% or even higher, which undoubtedly threatens the banking industry's profit margins, forcing them to crack down on these emerging platforms.

Moreover, Eric Trump harshly criticized lobbying groups like the American Bankers Association, accusing them of investing millions of dollars in efforts to use the CLARITY Act to restrict stablecoin yields.

He directly pointed out that although these groups claim to promote "fairness" and "stability," their real goal is to maintain the existing low-interest-rate monopoly of banks and prevent user deposits from flowing out due to higher returns.

Overall, Eric Trump’s language is strong and his stance clear, directly characterizing such banking practices as damaging retail interests, violating consumer rights, and even condemning them as "total anti-American behavior."

His fierce accusations immediately brought the stablecoin yield battle back into the public eye, sparking widespread attention and in-depth reflection on the motives of the banking industry and the future development of stablecoins.

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