The OCC just gave World Liberty Financial a conditional national bank charter — allowing it to operate as World Liberty Trust Company, National Association — with plans to issue USD-backed stablecoins and manage digital assets tied to its USD1 token. But this move has ignited political firestorm: Senator Elizabeth Warren and nine Democrats slammed the decision as “brazen self-dealing,” citing deep foreign ties — including a $500M Abu Dhabi investment linked to UAE’s national security advisor — and a suspicious $2B Binance investment via World Liberty’s stablecoin, timed near a presidential pardon for Binance’s ex-CEO. While White House officials insist no conflicts exist, lawmakers are demanding investigations into potential foreign influence and its impact on U.S. policy, as the OCC continues its trend of approving crypto firms under this administration.
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