Trump-Linked Crypto Venture Granted Bank Status Amid Conflict Concerns

A Trump-linked crypto venture called World Liberty Trust has been granted bank status by the Office of the Comptroller of the Currency, marking the first time in U.S. history a company owned by the sitting president's family has received this approval.

The conditional approval allows World Liberty Financial to issue stablecoin cryptocurrency tied to the U.S. dollar, cutting out the middleman and providing the service directly.

This decision comes despite concerns from Democratic lawmakers over potential conflicts of interest, with ranking member Sen. Elizabeth Warren calling it the 'most brazen act of self-dealing our financial system has ever seen.'