Trump Son Backs Dad's Anti-Bank Cry in Stablecoin Yield Row

Eric Trump amplified the stablecoin yield battle on Wednesday by posting that banks were "desperately targeting" cryptocurrencies, mirroring his father's broadside against the financial industry just hours earlier. The statement from the World Liberty Financial co-founder landed as US lawmakers, banking groups, and crypto firms remain deadlocked over stablecoin rewards under pending market structure legislation.

Eric Trump Joins Anti-Bank Push Over Stablecoin Legislation

Eric Trump, one of the co-founders of the Trump family's crypto venture, published his message on X while tagging the company he helped launch. His post echoed language from President Donald Trump, who separately accused banks of holding the stablecoin legislation "hostage" in an earlier social media statement.

The clash centers on whether stablecoin issuers should be allowed to offer yield to holders. Eric Trump and much of the crypto sector argue that banning such rewards would "block any rewards or perks from being given to customers." Banking trade groups have warned that stablecoin yield could undermine traditional credit markets and increase deposit flight risk.

What Did World Liberty Financial Say About the Post?

A representative for World Liberty Financial told reporters that the company was "not a political organization" and that Eric Trump "has been clear about why he helped create" the venture. The response followed questions about his pointed social media remarks.

The post was one of several public statements from prominent crypto figures following three meetings between White House officials and representatives from both the banking and crypto industries. Those sessions focused on how to address the stablecoin yield provision in the broader market structure bill but have so far failed to produce a consensus.

Why Is the CLARITY Act Stalled in Congress?

The CLARITY Act cleared the House of Representatives in July but has since been derailed by a 43-day government shutdown and unresolved debates among senators over ethics, tokenized equities, and stablecoin provisions. The Senate Agriculture Committee advanced its own version of the bill in January, yet the banking panel postponed a scheduled markup and had not set a new date as of Thursday.

Both committee versions must pass their respective panels and be consolidated into a single text before the full Senate can vote. The prolonged delay leaves the timeline for US crypto market structure regulation uncertain, even as the Trump family continues to press lawmakers through social media and industry advocacy.