Elizabeth Warren Says Trump’s Banking Regulator Looking Into His Family’s Crypto Bank Application: ‘The Public Deserves Transparency’

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Sen. Elizabeth Warren (D-Mass.) pressed for details in a Senate hearing Thursday on the Trump family’s application to establish a stablecoin bank linked to their World Liberty Financial (CRYPTO: WLFI) platform.

Warren grilled Comptroller of the Currency Jonathan Gould on whether regulators obeyed the law on the bank charter application filed by World Liberty Financial—a firm co-founded by President Donald Trump’s sons.

Warren, Ranking Member of the Senate Banking Committee, said that OCC regulations require applicants to disclose all principal shareholders, who are persons with at least a 10% direct or indirect stake in the proposed bank, and failure to do so would be grounds for dismissal.

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Warren demanded that the “unredacted application” be shown to her and Banking Committee Chair Sen. Tim Scott (R-S.C.) to ascertain that the “appropriate disclosures” have been made.

Trump’s own bank regulator is reviewing the Trump family’s application to form a crypto bank. A company tied to the UAE’s top spy is a co-owner.

The public deserves transparency, so I asked to see the unredacted application.

Here’s his response: pic.twitter.com/4XZMz0uBDV

Gould told Warren he’s committed to following the “established procedures” outlined in the regulations and would be happy to consider her request.

“I would be happy to entertain the request and discuss with the team to make sure that we afford you the same privileges that we have afforded past administrations,” Gould said.

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This development follows accusations by Warren of “crypto corruption” within the Trump administration after a reported $500 million investment from a top UAE royal in World Liberty Financial. The reported investment was made through Aryam Investment, a Tahnoon-backed firm that acquired a 49% stake, making it the company’s largest known shareholder

Warren has been one of the vocal critics of the Trump family’s cryptocurrency projects, such as the Official Trump (CRYPTO: TRUMP) memecoin and the USD1 dollar-pegged stablecoin.

She alleged a potential quid pro quo between the Trump family and Binance’s convicted founder Changpeng “CZ” Zhao, after USD1 was chosen to close Abu Dhabi investment firm MGX‘s $2 billion deal with Binance. CZ was eventually pardoned by Trump.

Photo Courtesy: Sheila Fitzgerald / Shutterstock.com

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