Warren Presses for Transparency on Trump Family's Crypto Bank Application

Senator Elizabeth Warren has demanded transparency from the Trump administration regarding their application to establish a stablecoin bank linked to their World Liberty Financial platform.

The regulator, Comptroller of the Currency Jonathan Gould, testified before Congress that his office would follow established procedures in reviewing the application. However, Senator Warren expressed concerns that the application may not meet regulatory requirements, citing OCC regulations that require applicants to disclose all principal shareholders with at least a 10% direct or indirect stake.

Warren also accused the Trump administration of 'crypto corruption' following reports of a $500 million investment from a top UAE royal in World Liberty Financial. The senator has been a vocal critic of the Trump family's cryptocurrency projects, including the Official Trump memecoin and the USD1 stablecoin.