Eric Trump Accuses Banks of Blocking Much Higher Crypto Yields
The son of the American president spares no words. In a series of posts on X, Eric Trump accuses JPMorgan, Bank of America, and Wells Fargo of actively sabotaging crypto yield products to better protect their colossal margins. An open war between Wall Street and the crypto world has just reached a new level.
In brief
- Eric Trump accuses major American banks of aggressive lobbying against high-yield crypto products.
- Traditional savings accounts yield between 0.01% and 0.05% per year, versus 4% paid by the Fed to banks.
- Crypto platforms and stablecoins promise yields of 4 to 5% or more to users.
Wall Street vs. Crypto, the Low-Rate Lobby
On March 4, 2026, Eric Trump posted a striking message on X, directly targeting the giants of American finance. According to him, JPMorgan Chase, Bank of America, and Wells Fargo are leading an aggressive lobbying campaign to prevent Americans from accessing crypto savings products offering yields far above those of traditional banks.
The observation he makes is brutal: banks pay savers between 0.01% and 0.05% annually on their savings accounts, while the Federal Reserve remunerates banks at 4% on their reserves. A colossal gap that generates record profits for financial institutions, to the detriment of the average depositor.
“The next time you see a big bank spending billions on a brand new headquarters in Midtown Manhattan, you’ll know exactly where that money comes from“, he wrote, unequivocally.
Faced with this reality, crypto platforms offer yields on stablecoins ranging from 4 to 5%, or even more. Figures that clearly shake Wall Street.
The Clarity Act, the Regulatory Stake at the Heart of the Battle
This war is not just a dispute over numbers. It is also being fought in the halls of the U.S. Congress. Eric Trump points to the American Bankers Association (ABA) and other lobbying groups, which spend millions to limit or ban these yields through the Clarity Act, a bill passed by the House of Representatives in 2025 but still stalled in the Senate.
Yet this bill aims at a clear objective: to define the rules for digital asset markets, especially concerning the rewards paid by crypto platforms and stablecoin issuers. A topic directly linked to the rise of DeFi and projects like World Liberty Financial, associated with the Trump family.
Also on March 4, Donald Trump took to Truth Social, railing against banks and demanding the swift adoption of the Clarity Act. He warned: without this bill, the U.S. Web3 industry risks fleeing to other countries, notably China.
The battle between traditional finance and crypto is entering a decisive phase. If yields from stablecoins were to become widespread, billions of dollars in bank deposits could migrate to the blockchain. Big banks thus have much to lose and are apparently doing everything to delay the outcome.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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