We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
_cfuvidThis cookie is a part of the services provided by Cloudflare - Including load-balancing, deliverance of website content and serving DNS connection for website operators.
Maximum Storage Duration: SessionType: HTTP Cookie
__cf_bm [x7]This cookie is used to distinguish between humans and bots. This is beneficial for the website, in order to make valid reports on the use of their website.
CookieConsentStores the user's cookie consent state for the current domain
Maximum Storage Duration: 1 yearType: HTTP Cookie
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
We do not use cookies of this type.
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
We do not use cookies of this type.
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
We do not use cookies of this type.
Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
List of domains your consent applies to: [#BULK_CONSENT_DOMAINS#]
Cookie declaration last updated on 8/12/26 by Cookiebot
[#IABV2_TITLE#]
[#IABV2_BODY_INTRO#]
[#IABV2_BODY_LEGITIMATE_INTEREST_INTRO#]
[#IABV2_BODY_PREFERENCE_INTRO#]
[#IABV2_BODY_PURPOSES_INTRO#]
[#IABV2_BODY_PURPOSES#]
[#IABV2_BODY_FEATURES_INTRO#]
[#IABV2_BODY_FEATURES#]
[#IABV2_BODY_PARTNERS_INTRO#]
[#IABV2_BODY_PARTNERS#]
About
Cookies are small text files that can be used by websites to make a user's experience more efficient.
The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission.
This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
You can at any time change or withdraw your consent from the Cookie Declaration on our website.
Learn more about who we are, how you can contact us and how we process personal data in our Privacy Policy.
Please state your consent ID and date when you contact us regarding your consent.
Install NewsLayer
Get the app experience — one tap from your home screen, instant loads and breaking-news alerts.
Trump-linked crypto venture World Liberty Trust granted bank status
A Trump-appointed national bank regulator granted a wing of the Trump family's crypto business conditional approval to establish a bank charter, opening the door for larger clients and potentially heightened profits.
PublisherYahoo Finance 3 分で読める
Image via Yahoo Finance
翻訳中…
Regulation Context
Track live crypto policy developments across jurisdictions.
A Trump-appointed national bank regulator granted a wing of the Trump family's crypto business conditional approval to establish a bank charter, opening the door for larger clients and potentially heightened profits.
The decision marks the first time in U.S. history that a company owned by the sitting president's family has been granted bank status, as Democratic lawmakers express concerns over potential conflicts of interest.
In a letter published Friday, the Office of the Comptroller of the Currency granted World Liberty Trust Co., an organization that is 38% owned by "an entity affiliated with Donald J. Trump and certain of his family members," according to its website, the ability to issue stablecoin cryptocurrency tied to the U.S. dollar.
World Liberty Financial, the listed sponsor of the conditionally approved trust, has previously relied on a third-party crypto company, BitGo, to provide a stable digital currency. Friday's approval allows the Trump family's business to cut out the middleman and provide the service directly.
Trump earned over $1.4 billion from crypto ventures in 2025, financial disclosure shows
Digital currencies, like Bitcoin, are historically volatile and therefore less appealing for entities making large transactions.
Crypto tied to more stable values, like the U.S. dollar or the price of gold, can be more attractive to big spenders and can be "marketed for use as a means of making payments, transmitting money, or storing value," according to the U.S. Securities and Exchange Commission.
Timothy A. Clary/AFP via Getty Images - PHOTO: Eric Trump, newly appointed ALT5 Board Director, and ALT5 Board Observer Donald Trump Jr. pose outside Nasdaq in Times Square in New York on August 13, 2025.
The decision allows the Trump-linked business to act as a bank, issuing digital currency to clients for transactions. Clients would exchange the U.S. dollar for the stablecoin, with profits going directly to the Trump family's crypto business.
The president's family has seen extensive profit from World Liberty Financial, securing around $5 billion in the company's first days after going public, according to the token's value at the time, with major investments from individuals and foreign nations continuing to fuel the company's value.
Trump himself has made more than $1.4 billion in business revenue from his family's crypto ventures, according to his released financial disclosures.
White House spokeswoman Anna Kelly has maintained that the president "only acts in the best interests of the American public," and said that no conflict of interest exists in part because the president's assets are held in a blind trust managed by his children. Typically, a blind trust would operate with an independent trustee.
"President Trump's assets are in a trust managed by his children," Kelly said. "There are no conflicts of interest."
State-backed Abu Dhabi investment firm MGX invested another $2 billion in the company in May 2025, promising to use the Trump family's USD1 stablecoin in large transactions with crypto exchange company Binance.
The deal later came under scrutiny when the Trump administration then agreed to supply the UAE with highly coveted American-made AI chips despite prior administration concerns that they may make their way to China.
"We thank MGX and Binance for their trust in us, and I think it's only the beginning," World Liberty Financial co-founder Zach Witkoff said after announcing the deal, alongside the president's son Eric Trump at a crypto convention in Dubai.
White House faces questions over UAE royal's investment in Trump family's crypto firm
Witkoff is the son of the president's special envoy to the Middle East, Steve Witkoff.
Ranking Member of the Committee on Banking, Housing and Urban Affairs Sen. Elizabeth Warren, D-Mass., urged the OCC to halt approval of Trump-linked business ventures, writing a letter to the comptroller in January. As an executive branch office, the president has ultimate authority over the OCC, though the office considers itself independent.
"For the first time in history, the president of the United States would be in charge of overseeing his own financial company," Warren wrote.
Following the OCC's preliminary approval, Warren described the decision as the "most brazen act of self-dealing our financial system has ever seen."
"I'm introducing a bill to stop this kind of unprecedented corruption," Warren said in a post on social media.
"The Comptroller and staff acted consistently with their statutory duties and ethical obligations with respect to the Application," the OCC wrote Friday. "OCC staff reviewed this Application in accordance with the agency's established policies and procedures."
The charter application will not be fully approved until some conditions are met, including increasing the company's capital, the OCC said.
