● Covered by 2 sources · 3 reportsMedium impact2 negative1 neutral
World Liberty Financial, a Trump family crypto venture, receives conditional banking charter approval
Key points
- World Liberty Financial received conditional banking charter approval.
- The approval allows direct issuance of USD1 stablecoin tokens.
- Trump family retains substantial financial interest in the venture.
- Democratic lawmakers criticize the decision as self-dealing.
- World Liberty Financial launched in 2024 by Donald Trump, his sons, and associates.
- Trump's financial disclosure showed $515 million income from token sales in 2025.
- Trump's financial disclosure showed $65 million income from WLF equity sales in 2025.
- Zach Witkoff is the son of Stephen Witkoff, special envoy to the Middle East.
- USD1 stablecoin has over $4 billion in circulation.
- USD1 stablecoin trades over $1 billion daily in volume.
- USD1 stablecoin had $1.7 billion in volume on Tuesday morning.
- Sheikh Tahnoon bin Zayed al Nahyan holds the largest stake in the holding company for World Liberty Financial.
- StringZ Holding RSC owns a 49% stake in WLTC Holdings.
- An entity affiliated with Trump's family owns a 38% stake in WLTC Holdings.
- Tahnoon and other investors invested $500 million in World Liberty Financial in January 2025.
- The January 2025 deal directed $263 million to Trump family entities.
- Trump's businesses generated at least $59.5 million in foreign licensing revenue during the first year of his second term.
Conditional Banking Charter Granted
The Office of the Comptroller of the Currency (OCC) has given conditional approval for World Liberty Financial, a crypto venture associated with the Trump family, to operate as a bank. This regulatory step moves the company closer to obtaining a full banking charter.
Direct Stablecoin Issuance
With this approval, World Liberty Financial will be able to issue its stablecoin tokens, named "USD1," directly within the United States. This eliminates the need for an intermediary in the process of issuing their digital currency.
Financial Interests and Criticism
The Trump family maintains a significant financial interest in World Liberty Financial. Reports indicate that Donald Trump made $65 million in 2025 from selling shares in the company and nearly $600 million from selling stablecoins and other digital assets through the venture in the same year. This financial involvement has led to criticism from Democratic lawmakers, including Senator Elizabeth Warren, who described the regulatory green light as "the most brazen act of self-dealing our system has ever seen."
Updates
- Sheikh Tahnoon bin Zayed al Nahyan holds the largest stake in the holding company for World Liberty Financial.
- StringZ Holding RSC owns a 49% stake in WLTC Holdings.
- An entity affiliated with Trump's family owns a 38% stake in WLTC Holdings.
- Tahnoon and other investors invested $500 million in World Liberty Financial in January 2025.
- The January 2025 deal directed $263 million to Trump family entities.
- Trump's businesses generated at least $59.5 million in foreign licensing revenue during the first year of his second term.
- World Liberty Financial launched in 2024 by Donald Trump, his sons, and associates.
- Trump's financial disclosure showed $515 million income from token sales in 2025.
- Trump's financial disclosure showed $65 million income from WLF equity sales in 2025.
- Zach Witkoff is the son of Stephen Witkoff, special envoy to the Middle East.
- USD1 stablecoin has over $4 billion in circulation.
- USD1 stablecoin trades over $1 billion daily in volume.
- USD1 stablecoin had $1.7 billion in volume on Tuesday morning.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Sheikh Tahnoon bin Zayed al Nahyan, a UAE official, holds the largest stake in the holding company for the Trump family's planned crypto bank, World Liberty Financial. This investment deepens his financial ties to Trump's business empire and has drawn scrutiny due to Tahnoon's government role and recent US-UAE negotiations on AI chip access.
World Liberty Financial CEO Zach Witkoff stated that the company operates independently of political influence, refuting allegations of conflicts of interest related to its Trump family ties. Witkoff highlighted the utility and trading volume of the USD1 stablecoin as evidence of its legitimate use case, despite concerns raised by Trump's financial disclosures and an investment from a UAE-linked group.
The Office of the Comptroller of the Currency has granted conditional approval for World Liberty Financial, a crypto venture controlled by the Trump family, to operate like a bank. This approval allows the company to issue its USD1 stablecoin tokens directly in the United States, bypassing intermediaries. The decision has drawn criticism from Democratic lawmakers, who view it as an act of self-dealing due to the Trump family's financial interests in the venture.