In a Truth Social post, Trump lashed out at the big banks on Tuesday night over crypto. “The Genius Act is being threatened and undermined by the Banks, and that is unacceptable — We are not going to allow it,” the president wrote.  

The country, he claims, “needs to get Market Structure done, ASAP.” He adds, “Americans should earn more money on their money.”

This concerns a proposed piece of crypto legislation, the CLARITY Act. The bill is mainly about clearly delineating the respective jurisdictions of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over crypto assets. In practice, however, the bill is stalled out over bonuses crypto holders may or may…