World Liberty Financial, the Trump family’s crypto company, has obtained preliminary conditional approval for a national bank trust charter from the Office of the Comptroller of the Currency (OCC) in the United States. This charter exclusively authorizes the issuance of dollar-pegged stablecoins and crypto-asset custody, but not bank deposits or lending. The project’s USD1 stablecoin ranks 5th with a market capitalization of $4 billion, far behind USDT ($183 billion) and USDC ($72 billion). This decision has revived conflict of interest accusations, with Senator Elizabeth Warren calling it a brazen act of self-enrichment. Additionally, the token sale planned to finance a beach resort in the Maldives has been postponed, and a $100 million purchase by Guren « Bobby » Zhou, who is under UK investigation for money laundering, has sparked a new scandal.
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