Trump Accuses Biden Administration of Debanking Crypto Firms

Former President Donald Trump has publicly criticized the Biden administration for alleged debanking practices targeting cryptocurrency companies. Speaking in the Oval Office, Trump condemned financial institutions for denying services to crypto-related businesses, suggesting political motivations behind these actions.

The crypto industry has long contended with restricted access to banking services under the current administration. Trump drew parallels to his own experiences, claiming major banks treated him unfavorably due to his political stance. "Big banks were very nasty to us," he stated, implicating federal regulators rather than bank executives as the driving force behind these decisions.

This controversy emerges as the cryptocurrency sector faces increasing scrutiny from financial regulators. The debate over debanking reflects broader tensions between innovative financial technologies and traditional banking systems.