Trump Family's Crypto Company Gets Preliminary Approval for National Bank
The Trump family's cryptocurrency company, World Liberty Financial (WLF), has been granted preliminary conditional approval by the Office of the Comptroller of the Currency to open a new national trust bank.
This development comes as President Donald Trump and his family face increased scrutiny over their financial dealings, particularly in regards to WLF. The company, which is owned by the Trumps alongside other entrepreneurs, has been publicly traded since May 2025.
In a letter issued on Friday, the Office of the Comptroller of the Currency informed WLF that they have met some but not all requirements for final approval and authorization. The bank's operations will include fiduciary activities, according to the letter.
Zach Witkoff, president of WLF and son of Trump administration special envoy Steve Witkoff, confirmed the news in an X post. Last month, it was revealed that President Trump made around $1.2 billion in income from his crypto activities in 2025 alone, with $550 million coming from WLF.