Trump Crypto Bank Tied to UAE Spy Sheikh
The Trump family's financial stake in a company receiving a federal banking charter from regulators appointed by President Donald Trump has raised questions about where personal enrichment ends and foreign policy begins.
According to OCC filings, Sheikh Tahnoon bin Zayed al Nahyan, the UAE's national security advisor and brother of its president, holds a 49% stake in WLTC Holdings through StringZ Holding RSC. The Trump family owns 38%, while associates of Zak Folkman and Chase Herro co-founders of World Liberty Financial hold the remaining shares.
The approval for World Liberty Trust Company to organize as a federally regulated national trust bank came with several conditions, including maintaining at least $20 million in eligible capital at opening. The bank will issue and redeem USD1, a stablecoin with more than $4 billion in circulation, and provide fiduciary custody services to institutional clients.