Trump Family's Crypto Company Cleared to Open National Bank Amid Conflict Concerns

President Donald Trump and his family's cryptocurrency company, World Liberty Financial (WLF), has been granted preliminary conditional approval to open their own national bank. The Office of the Comptroller of the Currency, a federal regulatory office, issued a letter informing WLF that they have met the initial requirements for establishing a new trust bank.

The Trump family launched WLF in October 2024 and officially went public on the stock market in May 2025. In 2025 alone, President Trump made around $1.2 billion in income from his crypto activities, with $550 million coming from WLF. This move has sparked controversy, with critics arguing that it creates a clear conflict of interest.

The approval comes as the Trump family faces increasing scrutiny for profiting from their time in office. Last month, financial disclosures revealed that President Trump's income from his crypto activities has been substantial. Senator Elizabeth Warren and other Democrats have responded by unveiling legislation aimed at prohibiting regulators from approving banks for companies owned or controlled by elected officials.