Former President Trump has publicly supported the advancement of the GENIUS Act and CLARITY Act, criticizing U.S. banks for obstructing these crypto-related bills. Trump warned that continued resistance from banks could drive innovation and capital to China. Senator Cynthia Lummis echoed Trump's sentiments, emphasizing the need for the U.S. to maintain leadership in digital assets. Eric Trump also criticized traditional banks for their low interest rates and high fees, while several crypto executives viewed these developments as pivotal for U.S. crypto regulation. In a separate development, the U.S. Securities and Exchange Commission (SEC) has requested issuers of 3x to 5x leveraged ETFs to withdraw their applications, indicating that such high-leverage products are unlikely to be approved. This move has sparked mixed reactions, with some investors supporting the decision as a protective measure against high-risk products, while others argue it stifles financial innovation.