Eric Trump Drops Bombshell: Wall Street Banks Are Actively Sabotaging Crypto Legislation to Protect Their Monopoly
Younis here with the latest heat from the crypto-Trump world—straight fire.
Eric Trump just went nuclear on FOX Business, calling out major U.S. banks for straight-up trying to **block crypto legislation** that's cruising through Congress right now. He's saying these legacy giants are fighting tooth and nail because real reforms would torch their cozy control over payments, those endless settlement delays, and the way they play with customer funds to earn extra interest.
Big Banks Clinging to Their Outdated Empire
Eric laid it out clear: Traditional banks have a **monopoly** on the U.S. financial system thanks to dinosaur infrastructure. Wire transfers? Forget weekends or after hours—money sits frozen while banks pocket the float. Blockchain flips that script: near-instant settlements, direct wallet-to-wallet moves, no middleman skimming off the top.
He argues crypto bills threaten that arbitrage game hard. Banks profit big from inefficiencies, so they're pulling every string to kill or water down the legislation. It's not about "consumer protection"—it's pure self-preservation, per Eric. Legacy finance vs. the future, and they're choosing to fight dirty.
Trump Admin Pushing Hard—President Eyes Signature "Very Soon"
This lines up perfectly with what President Trump said at the World Economic Forum in Davos (yesterday vibes, Jan 21, 2026). He straight-up declared Congress is grinding on **crypto market structure legislation**—covering Bitcoin, exchanges, custodians, the whole ecosystem—and he hopes to sign it **very soon**.
Trump's framing it as massive for U.S. leadership in digital assets, keeping China from dominating the space. Economic win + geopolitical flex: Unlock innovation for Americans, prevent rivals from owning the next-gen financial rails. Once they lock it in, good luck catching up.
Building on the GENIUS Act Win
This momentum rides right off last year's **GENIUS Act** (signed by Trump in 2025), which finally gave payment stablecoins a solid federal framework: 100% reserves (cash or short-term Treasuries), monthly disclosures, redemption rules—the works. That was huge for stability and trust.
Now lawmakers are hashing out the bigger picture: Clear roles for SEC vs. CFTC, spot market standards, how crypto firms operate without getting crushed. But bank lobbying is ramping up big time as votes near—warning of "financial stability risks" and pushing for crypto to match traditional bank rules. Eric's calling BS: Faster settlement + self-custody directly eats their lunch.
Why This Hits Different in 2026
With the Trump family deep in crypto (World Liberty Financial, American Bitcoin, etc.), skeptics scream conflict of interest. But Eric's angle is personal—banks "de-banked" the Trumps post-2021, pushing them into crypto in the first place. Now it's payback time: Pro-crypto policy to level the field.
Banks are scared for good reason. Instant, cheap, borderless money? That's existential. Eric's basically saying adapt or get left in the dust.
Bullish on U.S. crypto clarity incoming? Or more drama ahead? Degens, builders, hodlers—drop your takes below. This could be the spark that sends $BTC and the space parabolic. 🚀🇺🇸
