Trump-Linked WLFI Bank Charter Raises Conflict ConcernsWorld Liberty Financial, the crypto company tied to Trump’s family, received conditional OCC approval to launch a US trust bank.
Final approval requires WLFI to hire an external auditor and maintain required capital levels Three WLFI investors, including one of Trump’s sons, agreed to limit their influence over the future bank The bank would custody assets backing the USD1 stablecoin and place the project under OCC supervision Critics warn the stablecoin could create a perception of government backing or become a channel for political influence OCC has approved 22 bank charter applications in the first 19 months of Trump’s second term, more than in the previous five years combinedThe bigger issue: crypto banking is moving into the regulated system, but when the issuer is tied to the president’s family, supervision and politics become impossible to separate.
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