CoinDesk Podcast Network Trump Warns Banks: Stop Holding Crypto "Hostage" | CoinDesk Daily
Mar 4, 2026
A fiery political push against banks accused of blocking new crypto laws. Discussion of a major exchange gaining direct Fed access. Coverage of a big bank filing for a spot Bitcoin trust. Brief mentions of industry moves that could reshape stablecoin yields and crypto custody.
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Push Congress To Pass The Clarity Act
- Do pass the Clarity Act to let crypto platforms offer stablecoin yield without bank interference.
- Donald Trump urged Congress to act, accusing bankers of holding the legislation hostage to protect profits and warning of capital flight to China.
Stablecoin Yield Threatens Bank Deposits
- Allowing stablecoin interest could shift deposits from traditional savings accounts to crypto platforms.
- Trump argued Americans should earn more yield and warned that poor U.S. market structure could push the industry to China.
Kraken Got A Fed Master Account
- Kraken secured a Federal Reserve master account giving its banking arm direct Fed access and settlement on Fedwire.
- This makes Kraken the first crypto firm to operate on the same payment rails as traditional banks, speeding payment settlement.