The Trumps’ Crypto Project Just Got One Step Closer to Becoming a Bank
Federal regulators have given President Donald Trump’s family crypto business a conditional approval to operate like a bank. On Friday, the Office of the Comptroller of the Currency—led by Trump appointee Jonathan Gould—announced that World Liberty Financial, a crypto venture controlled by the Trump family, was on track to receive a banking charter. This will […]
The Trump family's cryptocurrency venture has taken a significant stride towards becoming a bank, with federal regulators granting it conditional approval. The Office of the Comptroller of the Currency, led by a Trump appointee, announced on Friday that World Liberty Financial, a crypto business controlled by the Trumps, was poised to receive a banking charter.
This would enable the company to issue its stablecoin tokens, known as "USD1," in the United States without needing a third party. The decision, Politico reported, could give the Trump family's crypto venture new federal powers and credibility. World Liberty Financial's co-founder, Zach Witkoff, expressed his optimism on social media, stating that the goal was to create the most trusted digital dollar worldwide and strengthen the U.S. dollar's role globally.
This approval is expected to boost the financial standing of the Trumps; Trump reportedly made $65 million in 2025 from selling shares in World Liberty Financial and an estimated $600 million from stablecoin and other digital asset sales through the company. In response, Senator Elizabeth Warren (D-Mass.) criticized the move, calling it "the most brazen act of self-dealing our system has ever seen."
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