President Donald Trump completed the 200 days of his second term in the White House on Aug. 7, and the White House was quick to remind how the president has kept his promise of ending the Joe Biden era's war on crypto.

An executive order against the banks would come after Trump said in a CNBC interview on Tuesday that the country's top two lenders had previously rejected his deposits. Trump said

The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons.

Trump's executive order bans debanking of crypto companies, instructs regulators to fine offenders, and removes the "reputational risk" category used against the industry.

President Donald Trump is scheduled to sign an executive order Thursday to allow cryptocurrencies, private equity and real estate into employee 401(k)s.

The order is expected to direct the Labor Department to work with the Treasury and the Securities and Exchange Commission to see which regulations need to be changed.