Trump tells banks to stop holding crypto hostage. This is CoinDusk Daily. I'm Jen Sanassi.

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slash coin desk. President Donald Trump has picked aside in the fight between banks and

crypto over stable coin yield. In a truth social post on Tuesday, Trump accused bankers of trying

to undermine the Genius Act that was signed into law last year. He urged Congress to pass the new

Clarity Act immediately, warning that banks are holding the legislation hostage to protect their own profits.

Banks are concerned that if crypto exchanges are allowed to offer interest on stable coin deposits,

customers will pull their money out of traditional savings accounts.

But Trump argues Americans, quote, should earn more money on their money,

wording that if the U.S. doesn't get market structure right, the entire industry

will flee to China. Cracken has secured a Federal Reserve master account, giving its banking arm

direct access to the Fed's core payment system, allowing it to settle payments itself. The approval

makes Crackin the first crypto firm in history to operate on the same rails as traditional banks,

giving the exchange access to FedWire,

the network that processes trillions of dollars and transfers daily.

Until now, crypto firms had to rely on intermediary banks to move U.S. dollars.

Now, Cracken can settle payments itself with a much higher speed.

The move is part of Cracken's efforts to expand its operations and move towards a potential IPO

following other

crypto firms like Coinbase and Gemini. And Wall Street Giant Morgan Stanley is entering the

spot Bitcoin ETF race. The bank has filed a prospectus with the SEC for the Morgan Stanley

Bitcoin Trust. According to the S1 filing, the fund will use a dual custody approach and partnership

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