Treasury charters Trump-owned World Liberty Financial as a bank

Key Points:

• World Liberty Trust Company, co-founded by Donald Trump and his sons, received conditional approval from the Treasury Department to become a bank and issue stablecoins tied to the U.S. dollar, potentially increasing Trump's crypto earnings beyond the nearly $800 million reported in 2025.
• The approval has sparked criticism, with Senator Elizabeth Warren calling it “the most brazen act of self-dealing” and vowing to introduce legislation to prevent such conflicts of interest, while the White House defended Trump’s investment management as independent.
• The Trump administration has supported the crypto industry through policies favoring stablecoin regulation and reduced enforcement by the DOJ and SEC, with Treasury Secretary Scott Bessent emphasizing efforts to maintain the U.S. dollar’s global dominance and foster crypto innovation.
• World Liberty Financial asserts that safeguards are in place to keep the Trump family separate from the bank’s operations, and the conditional charter requires strict regulatory compliance, including capital requirements and federal oversight.
• Experts note that federal bank regulation of crypto firms like World Liberty Financial could benefit the industry and society, while acknowledging that future administrations might regulate these entities differently.