Elizabeth Warren, OCC Chief Spar Over Trump-Linked Crypto Bank Bid
Comptroller of the Currency Jonathan Gould refused to delay or deny a bank charter application for World Liberty Financial—a crypto company affiliated with former President Trump—despite strong pressure from Senator Elizabeth Warren during a Senate Banking Committee hearing. Warren argued that granting the charter would make Gould complicit in presidential corruption, citing the UAE’s $500 million investment in World Liberty via a vehicle linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security advisor. She noted that the deal routed substantial funds to Trump family entities shortly before Trump’s inauguration and was followed by U.S. policy changes benefiting the UAE. Gould insisted his agency would process the application as with any other and declined to confirm if required disclosures of foreign ownership were made. Warren requested access to the unredacted application for oversight, and House Democrats warned that charter approval could undermine trust in the U.S. banking system. Representative Ro Khanna also called for investigations into the UAE’s involvement and potential conflicts of interest. Neither the White House nor World Liberty Financial commented.
