Eric Trump Criticizes Banks Over Opposition to Stablecoin Yield and Kraken's Fed Access

Eric Trump criticized banks on March 4 for what he called "antiretail, anticonsumer, and antiAmerican" efforts to block stablecoin yield products targeting 4–5%+ returns, according to comments shared on X. The criticism follows Kraken becoming the first crypto-native firm to gain access to the Federal Reserve's payment rails after a five-year application process, a move strongly opposed by the American Bankers Association, which warned the decision could raise financial stability risks. Prediction platform Polymarket now shows a 71% chance of the CLARITY Act becoming law in 2026, down from 78% over the past two days amid growing friction between banks, the crypto sector and the Trump administration.