Trump-Backed Crypto Company Wins Approval for Bank Operations

Trump's crypto company, Digital World Acquisition Corp., has received approval from regulators to run a bank. The decision is seen as highly contentious and may face opposition in the coming weeks. According to reports, the company will now be able to issue banking services to customers.

The news comes after months of speculation surrounding the company's plans for a crypto-focused bank. Digital World Acquisition Corp. was founded by Patrick Orlando and has been backed by former President Donald Trump.

Industry experts have expressed concern over the potential implications of a crypto company running a traditional bank, citing concerns about regulation and oversight.