Eric Trump Calls Big Banks 'The Greatest Hypocrites' After His Dad Says He Won't Let Them Undermine His 'Powerful Crypto Agenda'

Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin Corp. (NASDAQ:ABTC), on Tuesday blasted "Big Banks" as "the greatest hypocrites," arguing that traditional finance is "in mass panic" because it is losing ground to cryptocurrency as the White House tries to break a banking-crypto stalemate that has slowed major digital-asset legislation in the Senate.

Eric Trump Accuses Banks Of Blocking Rewards

In an X post, Eric Trump, also the co-founder of World Liberty Financial (CRYPTO: WLFI), said banks were "the very institutions that have held a monopoly" and fleeced customers for years, "offering near-zero yields on retail Money Market Accounts while crushing low-balance accounts with exorbitant fees." He added that those firms were "doing everything they can to block the Crypto industry from offering real benefits, perks, and rewards on their platforms."

He wrote, "They are the greatest hypocrites and are in mass panic given they know they are losing the digital finance race!" He has previously criticized banks for profiting from inefficiencies such as transfer delays, framing crypto rails as faster and more consumer-friendly.

Trump Pressures Wall Street On Clarity Act

Eric Trump’s post landed as President Donald Trump publicly pressured Wall Street to stop blocking progress on crypto rules. In a Truth Social post on Tuesday, the president said, "The Banks are hitting record profits, and we are not going to allow them to undermine our powerful Crypto Agenda … if we don't get The Clarity Act taken care of," adding that Wall Street firms "need to make a good deal with the Crypto Industry" to move a pending market-structure bill.

JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon on Monday said crypto firms that offer stablecoin rewards should follow banking rules, arguing that rewards amount to interest. In a CNBC interview, he suggested a compromise that pays rewards on transactions rather than balances and said, "If you are going to be holding balances and paying interest, that’s the bank… If they want to be a bank, so be it."

Stablecoin Yield Fight Stalls Senate Action

Reuters has reported that the core dispute centers on whether digital-asset platforms should be allowed to offer rewards programs that pay yield to users who hold dollar-pegged stablecoins, a flashpoint that has fueled an aggressive lobbying fight and repeatedly delayed Senate action.

The iShares Bitcoin Trust ETF (NASDAQ:IBIT), which tracks the price of Bitcoin (CRYPTO: BTC), was down 1.26% on Tuesday, closing at $38.70 per share and slid a further 0.96% overnight.

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