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Trump-Linked World Liberty Financial Receives Conditional US Bank Approval Amid Conflict-of-Interest Concerns

Trump-Linked World Liberty Financial Receives Conditional US Bank Approval Amid Conflict-of-Interest Concerns

The Office of the Comptroller of the Currency (OCC) has granted conditional preliminary approval for a national trust bank charter to World Liberty Trust Company, a cryptocurrency venture with significant ties to President Trump and his family. An entity affiliated with President Trump and his sons reportedly owns 38% of the company. Zach Witkoff, son of Trump's diplomatic envoy Steve Witkoff, leads World Liberty Financial. This approval could enable World Liberty to directly issue its USD1 stablecoin, custody its reserves, and manage payment settlement without relying on third-party services like BitGo. Unlike traditional banks, World Liberty Trust would not generally accept deposits or issue loans, focusing instead on holding assets for clients, settling payments, and offering nationwide services through a federal charter. The company's USD1 stablecoin has seen rapid expansion since its March 2025 launch, now ranking as the fourth-largest stablecoin with a market capitalization of approximately $4 billio...
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Wall St mixed as Middle East tensions eclipse tech strength

Wall St mixed as Middle East tensions eclipse tech strength

By Avinash P and Purvi Agarwal Aug 17 (Reuters) - The S&P 500 and the Dow inched lower on Monday as U.S.-Iran tensions dented sentiment, while some technology stocks rose after the report of a strong revenue forecast from AI lab Anthropic.
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US stocks set for lower open as Iran stalemate lifts oil, yields

US stocks set for lower open as Iran stalemate lifts oil, yields

By Shashwat Chauhan and Purvi Agarwal Aug 18 (Reuters) - U.S. stocks were set to open lower on Tuesday, as diminishing prospects for a peace deal between the United States and Iran kept oil prices elevated and government bond yields at multi-year peaks.
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Tech stocks weigh on Wall Street as Iran stalemate lifts oil, yields

Tech stocks weigh on Wall Street as Iran stalemate lifts oil, yields

By Shashwat Chauhan and Purvi Agarwal Aug 18 (Reuters) - Wall Street's main indexes fell to about two-week lows on Tuesday, pressured by losses in heavyweight technology stocks, while fading hopes for a U.S.-Iran peace deal sustained gains in oil prices and kept government bond yields at multi-year
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US stocks hang near their record heights

US stocks hang near their record heights

U.S. stocks are drifting near their record heights
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US stock futures drop as fading Iran peace hopes lift oil, bond yields

US stock futures drop as fading Iran peace hopes lift oil, bond yields

Aug 18 (Reuters) - U.S. stock index futures slipped on Tuesday, with oil holding near recent highs and government bond yields hitting multi-year peaks as chances of a peace deal between the U.S. and Iran waned, rekindling inflation concerns.
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Nasdaq futures gain as tech stocks climb

Nasdaq futures gain as tech stocks climb

Aug 17 (Reuters) - Nasdaq and S&P 500 futures rose on Monday, boosted as a strong revenue forecast from AI leader Anthropic supported technology stocks, while investors weighed the prospect of fewer interest-rate hikes against Middle East tensions.
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European shares slip as oil prices and bond yields surge on Middle East fears

European shares slip as oil prices and bond yields surge on Middle East fears

By Tharuniyaa Lakshmi Aug 18 (Reuters) - European shares edged lower on Tuesday, hit by a rise in crude oil prices as hopes of a durable U.S.-Iran peace deal faded, with surging euro zone bond yields adding to the pressure amid worries about persistent inflation. 
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Asian shares are mostly higher while US futures and oil prices hold steady

Asian shares are mostly higher while US futures and oil prices hold steady

Shares are mostly higher in Asia after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy
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Morgan Stanley CIO Mike Wilson States Gold Has Been in a 25-Year Bull Market

Morgan Stanley CIO Mike Wilson States Gold Has Been in a 25-Year Bull Market

Morgan Stanley CIO Mike Wilson States Gold Has Been in a 25-Year Bull Market
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World shares are mixed and oil prices slip after worries over stagflation pull US stocks lower

World shares are mixed and oil prices slip after worries over stagflation pull US stocks lower

Shares are mixed in Europe and Asia after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy
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PwC Predicts Hong Kong Tax Reforms Will Attract Multinational Corporate Treasury Centers

PwC Predicts Hong Kong Tax Reforms Will Attract Multinational Corporate Treasury Centers

PwC Predicts Hong Kong Tax Reforms Will Attract Multinational Corporate Treasury Centers