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🚨THE PRESIDENT'S FAMILY JUST GOT A BANK🚨
On Friday, the Office of the Comptroller of the Currency granted a federal bank charter to World Liberty Financial. The Trump family owns 38% of it. They have made $1.1 billion in crypto since he took office. Their stablecoin, USD1, is worth $4 billion. People submitted public comments telling the regulator this was a conflict of interest. The regulator said it was not their problem.
Here is why this matters.
A stablecoin is digital money pegged to the dollar. Every token is supposed to be backed by real dollars in reserve.
With a bank charter, the Trump family's company can now hold those reserves itself, issue the stablecoin itself, and manage other people's money through fiduciary activities.
They control the full operation so there is no middleman and no outside custodian.
No president's family has ever been granted bank status while in office. This is the first time in American history.
And they cleared the path for it. The administration killed the government digital dollar so there is no public alternative. They backed private stablecoins instead. Every crypto-friendly regulator they appointed, every enforcement action they declined to bring, and every rule they rolled back made this more valuable and more possible.
Now Congress is about to vote on the Clarity Act, which would set the rules for digital assets going forward.
Tag your senators. Call their offices. The Clarity Act vote is the moment where Congress decides whether this gets checked or whether it becomes permanent.
