Eric Trump, one of U.S. sons’ children, is a named EricTrump (pictured) s S After Tuesday’s banking industry, President Donald Trump and a co-founder of crypto firm World Liberty Financial, were outraged by their opposition to allowing stablecoin yield in the legislation on crypto market structure.
big banks (JPMorgan Chase, Bank of America, Wells Fargo, etc) – Big Banks. He said in a post on X, the site that has been called Twitter, “I’m lobbying overtime to prevent Americans from getting higher yields on their savings while trying to block any rewards or perks from being given to customers.”
He said banks pay a small interest in comparison to the interest they receive from the Federal Reserve, and keep the money as profits.
“Today, the banks are desperately targeting crypto/stablecoins, where platforms plan to offer 4–5%+ yields or rewards,” he said.
A ABA and other lobbyists spend millions of efforts “to banning or restrict those yields through bills such as the Clarity Act, crying ‘fairness’ and words like. ‘Stability’ when it is really about protecting their low-rate dominance (and blocking deposits) flight.” But this is anti-retail, anti consumer and straight-up anti American,” he said.
He co-founded World Liberty, which has its own stablecoin, USD1. Also seeking a charter is also being sought through the Office of the Comptroller of The Currency, which has been involved in applying for the World Liberty umbrella.
Trump has filed complaints with banks over the past year, saying at several conferences that they debanked him and his family.
The U.S., his father, was the . S. The Clarity Act was discussed Tuesday by president, who called for Congress to advance the bill and similarly attacking banks as being recalcitrant in negotiations over stablecoin yield in the Bill. It’s so far unclear whether his post, or indeed Eric Trump’S, will significantly change the needle in negotiations.
Donald Trump posted a short time after meeting with Coinbase CEO Brian Armstrong, who publicly abstained from the bill in January over the stablecoin provisions and other parts of the crypto executive considered problematic.
Earlier Wednesday, Patrick Witt, White House’s crypto-defence chief executive director, also reversed JP Morgan CEO Jamie Dimon after Dimin said stablecoin issuers should be controlled like banks.
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