Trump-Linked Crypto Bank Wins OCC Approval Amid UAE Investment Scrutiny
World Liberty Financial's push into federally regulated banking has opened up new concerns over President Donald Trump's crypto business interests. The company received conditional preliminary approval from the Office of the Comptroller of the Currency (OCC) on August 14 to organize as a national trust bank, but its ownership structure raises eyebrows.
The proposed institution holds a 49% stake in its holding company held by investors backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and brother of the country's president. The Trump-family-affiliated investment vehicle holds another 38%. This overlap between the Trump family's commercial interests and U.S. policy toward the UAE has sparked controversy.
The OCC approval process included 'passivity agreements' under which certain shareholders committed not to control or influence the bank's operations. Eric Trump signed such an agreement on behalf of a Trump-family investment vehicle. The financial stakes for the Trump family are substantial, with nearly $800 million tied to World Liberty Financial in 2025.
World Liberty's charter sits at the intersection of three rapidly converging issues: federal crypto banking, foreign investment, and a sitting president's private financial interests. Final OCC authorization would push that relationship further into the regulated U.S. banking system.