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World Liberty Financial, a Trump Family Crypto Venture, Receives Preliminary Bank Approval Amid Conflict of Interest Concerns

World Liberty Financial, a Trump Family Crypto Venture, Receives Preliminary Bank Approval Amid Conflict of Interest Concerns

World Liberty Financial, a cryptocurrency company co-founded by President Trump and his sons Don Jr. and Eric, has received preliminary approval from the Office of the Comptroller of the Currency (OCC) to operate its subsidiary, World Liberty Financial Trust, as a national trust bank. This approval, granted on August 14, marks a significant development for the company, which was launched in 2024. President Trump, holding the title of 'Co-Founder Emeritus,' and his sons, listed as 'co-founders,' collectively own a 38% stake in World Liberty Financial. This ownership has reportedly increased President Trump's net worth by over $2 billion since taking office. The company plans to mint and safeguard its own stablecoin, USD1, a cryptocurrency pegged to the U.S. dollar. Senator Elizabeth Warren has criticized this development, calling it 'the most brazen act of self-dealing our financial system has ever seen.' The OCC, however, maintains that its chartering process is 'transparent, apolitical and nonpartisan.'
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President Trump's Crypto Bank Scheme Receives Preliminary Approval, Raises Conflict of Interest Concerns

President Trump's Crypto Bank Scheme Receives Preliminary Approval, Raises Conflict of Interest Concerns

President Trump's family-backed crypto firm, World Liberty Financial, has received preliminary approval to operate as a bank from a regulator appointed by the President. This development has drawn criticism, with Senator Elizabeth Warren stating that President Trump is the first president to approve, operate, and supervise his own bank, calling it a brazen act of self-dealing. The Trump family owns 38% of World Liberty Financial, while an investment firm in the United Arab Emirates owns nearly half. Despite this, the Trump family reportedly collects 75% of all crypto revenues from the company. President Trump had previously expressed skepticism about cryptocurrencies, calling Bitcoin a scam and a potential threat to the U.S. dollar, but reversed his stance during his 2024 presidential campaign after recognizing the potential for profit and significant corporate donations from the industry. In January 2025, he launched a meme cryptocurrency, $TRUMP, which generated hundreds of millions of dollars, and colle...
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President Trump Urges Congress to Pass 'Fair Version' of Clarity Act at White House Crypto Meeting

President Trump Urges Congress to Pass 'Fair Version' of Clarity Act at White House Crypto Meeting

President Trump convened a meeting at the White House with crypto and finance executives, including Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Nasdaq CEO Adena Friedman. During the gathering, President Trump called on Congress to pass a 'fair version' of the Clarity Act. This legislation aims to establish federal rules for digital assets and clarify the regulatory authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the industry. The President emphasized that such market structure legislation is crucial for the U.S. to maintain its leadership in commercial markets and innovation, particularly in areas like AI. The Clarity Act is expected to return to the Senate floor in September, though it requires approximately six Democratic votes to reach the 60-vote threshold for passage.
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President Trump Faces Scrutiny Over Iran Conflict and Aide Natalie Harp

President Trump Faces Scrutiny Over Iran Conflict and Aide Natalie Harp

President Trump is facing increasing pressure regarding the ongoing conflict in Iran, with concerns that it could define his presidency and impact his approval ratings ahead of midterm elections. The President had previously assured conservative influencer Tucker Carlson that the situation would resolve positively. Additionally, Trump's executive assistant, Natalie Harp, has been thrust into the spotlight after Georgia Senator John Ossoff accused the President of neglecting his duties to 'travel with Natalie' on Air Force One. This comment has provoked a strong reaction from the White House, highlighting the scrutiny surrounding the President's actions and his administration. The situation is further complicated by reports of President Trump threatening U.S. allies Oman and South Korea, leading to questions about his strategic approach to the conflict and his overall stability.
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Rep. Don Bacon Urges President Trump to Limit Statements on Iran Amid 'Contradictory' Messaging

Rep. Don Bacon Urges President Trump to Limit Statements on Iran Amid 'Contradictory' Messaging

Representative Don Bacon (R-Neb.) has publicly advised President Trump to "say less" regarding the ongoing U.S. conflict and negotiations with Iran. Bacon's recommendation stems from what he perceives as "contradictory" statements emanating from the administration, which he believes are creating mixed messages. He emphasized the importance of clear and consistent communication, particularly in sensitive foreign policy matters. While Bacon suggested a strategy of blockade as a potential approach, his primary concern is the need for fewer individuals to speak on the issue to ensure a unified and unambiguous stance from the U.S. government. This call for restraint highlights internal Republican concerns about the clarity of the administration's foreign policy rhetoric.
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Trump Administration Advances New Cryptocurrency Regulations Amid Stalled Congressional Bill

Trump Administration Advances New Cryptocurrency Regulations Amid Stalled Congressional Bill

The Trump administration is moving forward with executive actions to regulate the cryptocurrency industry, even as comprehensive legislation, specifically the Clarity Act, remains stalled in the Senate. President Trump met with crypto executives, including the CEOs of Coinbase and Robinhood, urging Congress to resolve disagreements over ethics provisions within the Clarity Act that aim to prevent government officials from profiting from digital assets. Simultaneously, the Office of the Comptroller of the Currency (OCC) is accelerating its regulatory timeline. Acting Comptroller Jonathan Gould announced plans to finalize federal rules for stablecoins by November and begin processing crypto license applications in January. This regulatory push follows the GENIUS Act, passed in July 2025, which established the first federal framework for stablecoins, digital tokens pegged to the U.S. dollar and backed by high-quality liquid assets.
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Representative Gregory Meeks Opposes Russia Sanctions Bill, Citing Potential Misuse of Presidential Authority

Representative Gregory Meeks Opposes Russia Sanctions Bill, Citing Potential Misuse of Presidential Authority

Representative Gregory Meeks (D-NY), the leading Democrat on the House Foreign Affairs Committee, has voiced strong opposition to the Lindsey O. Graham Russia Sanctions Act of 2026. Meeks argues that the bill grants the President overly expansive discretion and waiver authority, which could be misused. Specifically, he warns that President Trump could weaponize this authority as a new tariff mechanism against countries like India and China. These nations were previously targets of secondary tariffs that were later deemed unconstitutional in February 2026. Meeks' concerns are echoed by other prominent Democrats, including Representative Richard Neal, the ranking member of Ways and Means. The bill, which passed the Senate 86-11 on August 7, 2026, is currently awaiting consideration in the House of Representatives. It authorizes the President to impose secondary tariffs of up to 100% on the top five importers of Russian oil and gas, as well as countries facilitating sanctions evasion or making new purchases o...
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Trump-Owned Crypto Company, World Liberty Trust Co., Receives Conditional Approval to Become a Bank and Issue Stablecoins

Trump-Owned Crypto Company, World Liberty Trust Co., Receives Conditional Approval to Become a Bank and Issue Stablecoins

World Liberty Trust Co., a cryptocurrency company co-founded by President Trump and his sons, has received conditional approval from the Treasury Department to operate as a bank. This approval, granted on August 14, specifically authorizes World Liberty to issue stablecoins, a type of cryptocurrency pegged to the U.S. dollar. According to President Trump's financial disclosure, the company generated nearly $800 million for him in 2025. Zach Witkoff, CEO of World Liberty Financial and son of diplomat Steve Witkoff, stated the company's ambition is to build the most trusted digital dollar globally and strengthen the U.S. dollar's role. The Trump organization actively promotes the company on its website. The approval letter from the Office of Comptroller of Currency addressed public comments regarding potential conflicts of interest, stating that career staff, not the comptroller appointed by President Trump, supervise and enforce banking laws.
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Trump to host crypto executives as SEC considers regulations

Trump to host crypto executives as SEC considers regulations

WASHINGTON, Aug 19 (Reuters) - President Donald Trump will host cryptocurrency executives at the White House on Wednesday as U.S. financial regulators this week prepare to advance their framework for certain digital assets. 
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Trump calls for Congress to pass crypto bill at White House event

Trump calls for Congress to pass crypto bill at White House event

By Hannah Lang Aug 19 (Reuters) - U.S. President Donald Trump on Wednesday called on Congress to pass a bill that would bring clearer definitions to the growing cryptocurrency sector, a top priority for industry executives who had gathered for an event at the White House with the president.
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Trump put thousands of soldiers on Washington’s streets. They seldom stop crime

Trump put thousands of soldiers on Washington’s streets. They seldom stop crime

By Brad Heath WASHINGTON, Aug 19 (Reuters) - Well past midnight one day this spring, three police officers pulled up to a nightclub where a man was stomping on a young woman lying on the sidewalk. The officers stopped the attack and arrested him, according to a police report.
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Trump Administration Sets Record for Ultra-Wealthy Officials in White House

Trump Administration Sets Record for Ultra-Wealthy Officials in White House

The Trump administration has set a new record for the number of ultra-wealthy officials appointed to the White House, with 57 individuals possessing fortunes of at least $100 million. This figure is more than four times the combined total of the three preceding presidential administrations. Among these appointments are 17 ambassadors and 40 high-ranking executive branch officials. Notable examples include Commerce Secretary Howard Lutnick and Education Secretary Linda McMahon, both billionaires. President Trump, himself a billionaire, has publicly justified his preference for appointing wealthy individuals, citing their financial success as an indicator of executive prowess and negotiation skills. This trend is highlighted in a report by the consumer advocacy group Public Citizen, which details the significant increase in affluent appointees compared to previous administrations, such as George W. Bush and Joe Biden, who each had five such members, and Barack Obama, who had three.