Overview
- World Liberty Financial applied this month to launch a federally regulated bank in the United States, a move that would give the company more control over customer assets.
- Approval would put a Trump-linked business under agencies overseen by the administration, drawing warnings from a former SEC crypto-policy official who called the effort a “smash-and-grab.”
- Politico reports that Trump, his family, and partners have rapidly expanded into crypto over the past year, challenging the norm of presidents distancing themselves from private business interests.
- Media tallies indicate the family’s crypto ventures have boosted Trump’s assets by roughly $1 billion, with trading of TRUMP and MELANIA memecoins generating hundreds of millions in fees.
- Trump Media & Technology Group said last year it would begin stockpiling crypto tokens, while World Liberty Financial has been striking international deals and growing its U.S. footprint.