Trump Family Crypto Bank Embroiled in UAE Ties Controversy
The Trump family's planned crypto bank has drawn attention for its ties to the United Arab Emirates (UAE), particularly Sheikh Tahnoun bin Zayed al Nahyan, a UAE national security advisor and brother of the UAE's monarch. He owns the largest stake in the holding company for World Liberty Financial, which is a co-founder of the bank.
The OCC granted conditional approval for a federally chartered national trust bank to World Liberty Financial in August 2026, marking the first time a national bank charter was issued to a sitting president's family business. The approval came after a $500 million secret investment by Sheikh Tahnoon in World Liberty Financial just before Trump's inauguration in January 2025.
The deal has raised eyebrows in Washington, D.C., with Democratic Senator Elizabeth Warren calling it 'corruption, plain and simple' and demanding an investigation. She also expressed concern about the UAE's access to advanced AI chips after the administration reversed a Biden-era rule restricting their sale.