U.S. Senator Elizabeth Warren has strongly opposed World Liberty Financial’s plan to get a national bank charter. She called it a serious corruption issue linked to President Donald Trump.
The issue has sparked new concern about crypto rules, foreign investment, and political influence in the digital finance industry.
World Liberty Financial Bank Charter Application Faces Scrutiny
According to the filing on February 23, 2026, World Liberty Financial applied for a national trust bank charter through the Office of the Comptroller of the Currency (OCC).
The crypto firm, linked to Donald Trump and his family, plans to issue a dollar-pegged stablecoin called USD1 and offer digital asset custody services.
During a Senate Banking Committee hearing, Warren questioned OCC Comptroller Jonathan Gould over the approval process. She warned that granting the charter could create serious conflict-of-interest concerns if a president-linked company gains federal banking authority.
The firm is connected to Donald Trump Jr., Eric Trump, and other partners, with Trump listed as co-founder emeritus.
If approved, the charter would allow the company to operate under federal oversight similar to other national trust banks.
$500 Million UAE Investment Raises National Security Concerns
Warren also highlighted a reported $500 million investment tied to Aryam Investment 1, a vehicle linked to Sheikh Tahnoon bin Zayed Al Nahyan of the United Arab Emirates.
Reports suggest the investor acquired a 49% stake in World Liberty Financial shortly before Trump’s inauguration.
As per the reports, nearly $187 million from the transaction flowed to Trump family entities. Warren argued that such foreign financial ties raise national security and transparency questions. She demanded full disclosure of anyone owning 10% or more of the company.
OCC Defends Review Process
Comptroller Gould defended the OCC’s review process, stating that applications are evaluated under standard regulatory procedures, not political pressure. He said the only political pressure he had felt came during the hearing itself.
The final decision on the bank charter may carry major implications for both crypto markets and political accountability.
Meanwhile, World Liberty Financial’s WLFI token has fallen nearly 30% over the past month and is currently trading around $0.1145.
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