Trump's crypto company made him $800 million. Now it's a real bank

Aug. 17, 2026, 4:28 p.m. ET

The cryptocurrency company that made President Donald Trump nearly $800 million since he returned to the White House has received the green light to become a bank and potentially make him even more money.

World Liberty Trust Company received conditional approval from the Treasury Department on Aug. 14 to become a bank. The approval specifically gives World Liberty the right to issue a type of cryptocurrency called stablecoin, which is tied to the U.S. dollar.

“Our ambition is clear: to build the most trusted and widely used digital dollar in the world while strengthening the role of the U.S. dollar across the global economy,” Zach Witkoff, the chief executive officer of World Liberty Financial, wrote in a social media statement.

Trump and his sons co-founded World Liberty Financial, and the company brought in nearly $800 million for Trump in 2025, according to his financial disclosure. The Trump organization advertises the company on its website. Additionally, Zach Witkoff is the son of diplomat Steve Witkoff, a key foreign policy figure in the Trump administration.

Sen. Elizabeth Warren, a Democrat from Massachusetts, called the charter approval “the most brazen act of self-dealing our financial system has ever seen” and said she would introduce a bill “to stop this kind of unprecedented corruption.”