Eric Trump, co-founder of the crypto venture World Liberty Financial, has publicly backed his father’s criticism of banks during a dispute over stablecoin rewards tied to U.S. crypto legislation.
In a post on X, Eric Trump said banks were “desperately targeting” cryptocurrencies and stablecoins as lawmakers continue debating how stablecoin yield should be treated in a pending market structure bill.
The comments came hours after U.S. President Donald Trump claimed banks were holding the proposed legislation “hostage” amid disagreements over crypto policy.
The dispute centers on whether stablecoin issuers should be allowed to offer yield or customer rewards, which many crypto firms support but some banking organisations argue could create deposit flight risk.
Supporters of stablecoin rewards say banning yield would prevent companies from offering incentives or benefits to users who hold dollar-pegged digital assets.
The issue has slowed progress on the CLARITY Act, a market structure bill that previously passed the House but still faces review in the Senate.
The Senate banking committee has yet to reschedule a markup for the legislation as lawmakers continue negotiating provisions related to stablecoins and tokenised assets.
At the time of reporting, World Liberty Financial price was $0.1029.