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Trump's Crypto Firm Gets Approval for Bank Amid Controversy

Guavy AI Editorial Team
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A company founded by former US President Donald Trump has received approval to operate a bank, but the decision has been met with controversy.

The company, Digital World Acquisition Corp., plans to merge with a holding company called Trump Media & Technology Group, which includes Truth Social, a social media platform launched by Trump after he left office.

The bank's approval was granted by the Office of the Comptroller of the Currency (OCC), but some have raised concerns about the potential for conflicts of interest and whether the company is adequately capitalized to operate a financial institution.

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