Eric Trump, co-founder of the World Liberty Financial (CRYPTO: WLFI) platform, stepped up his attack on U.S. banking giants on Wednesday, accusing them of “desperately targeting” the cryptocurrency industry.
Banks Protecting Their ‘Low-Rate Monopoly,’ Says Trump
Trump took to X, lashing out at the American Bankers Association and other lobbyists who are spending “millions” to restrict yields on stablecoin balances through the cryptocurrency market structure bill, also referred to as the CLARITY Act.
Trump, also the co-founder of American Bitcoin Corp. (NASDAQ:ABTC), pointed out the supposed hypocrisy of big banks, including JPMorgan Chase & Co. (NYSE:JPM) and Bank of America (NYSE:BAC), of demanding “fairness” while really just “protecting their low-rate monopoly and preventing deposit flight.”
“Next time you see a big bank dropping billions on a shiny new Midtown Manhattan HQ, you know exactly where that money comes from: the non-existent interest rate they “pay” you,” Trump made a sweeping remark.