Trump Family Crypto Venture One Step Closer to Banking Charter

World Liberty Financial, a crypto venture controlled by President Donald Trump's family, has taken one step closer to becoming a bank. The Office of the Comptroller of the Currency announced conditional approval for the company to operate like a bank, allowing it to issue its stablecoin tokens, USD1, within the US without an intermediary.

This decision gives new powers and federal credibility to World Liberty Financial, in which Trump and his family retain a substantial financial interest. The move is seen as strengthening the president's family financially, with Trump making $65 million in 2025 by selling shares in World Liberty Financial and almost $600 million selling stablecoins and other digital assets.

The approval has drawn criticism from Democratic lawmakers, with Senator Elizabeth Warren calling it 'the most brazen act of self-dealing our system has ever seen.'