Trump Brothers Accuse Big Banks of Obstructing Crypto Yield Products

Recently, Eric Trump publicly accused major U.S. financial institutions of actively lobbying Congress to restrict high-yield products related to cryptocurrencies and stablecoins. He believes that large banks are using systematic lobbying activities to promote legislation and regulatory measures, thereby curbing innovative financial instruments in the digital asset space. This move is seen as a strategy to protect traditional interest income models.

Currently, Washington is reviewing two key bills—the "CLARITY Act" and the "GENIUS Act"—aimed at establishing a clear legal framework for the crypto market, balancing the dual goals of consumer protection and industry development. If passed, these bills are expected to provide a legitimate operating space for new financial products such as stablecoin yields and lending protocols.

Although banks often oppose easing regulations on the grounds of "financial stability" and "fair competition," analysts point out that the core motivation may be the yield competition brought about by crypto assets. Traditional banks profit from the spread between savings rates and loan interest rates, while high-yield crypto products are directly eroding this model, weakening their appeal to retail depositors. These remarks are not isolated. Former President Donald Trump has also publicly expressed similar views, warning that if the United States continues to be mired in ambiguity regarding crypto regulation, it will lead to an outflow of technical talent and capital, gradually shifting the global digital financial innovation center overseas. He called on Congress to establish a clear and forward-looking regulatory path as soon as possible to ensure that the United States' leadership position in the global crypto economy is not weakened.