Eric Trump Claims Major US Banks Are Lobbying to Block Crypto Yield Legislation

On 5 March 2026, Eric Trump accused JPMorgan Chase, Bank of America, and Wells Fargo of lobbying to derail the Clarity Act and restrict crypto yield products for retail users. He argued that banks pay depositors as little as 0.01% to 0.05% APY while earning around 4.4% from the Federal Reserve, and said this spread motivates efforts to suppress stablecoin yields. During the dispute, Coinbase stock rose about 15% on 4 March 2026 as markets reacted to the regulatory standoff between banks and crypto platforms.