2026-01-14 04:24:37

U.S. Senator Elizabeth Warren recently raised strong concerns about the bank license application of World Liberty Financial. On January 13, she publicly pressured to suspend the company's application for a national trust bank license from the Office of the Comptroller of the Currency (OCC) until the related financial relationships are clarified.

What is the core issue? Warren pointed directly to an unprecedented conflict of interest—co-founders of World Liberty Financial include the U.S. President and his three sons. The platform has experienced rapid growth over the years, accumulating billions of dollars in assets for this family. Such a scale of financial interests involved is indeed rare in American history.

World Liberty Financial's subsidiary, WLTC Holdings, has officially submitted an application to the OCC. Once approved, the platform will be able to independently handle the issuance, custody, and exchange of USD stablecoins, breaking free from reliance on third-party infrastructure providers like BitGo, and achieving a full-chain closed-loop for stablecoin operations. This means they can directly control the lifecycle of the stablecoins.

Warren's main concern is: in such a relationship of interests, can the regulatory officials responsible for review truly maintain independence and neutrality? She believes this level of conflict must be properly addressed before the review process can continue.

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rugpull_survivor

· 8h ago

This is a typical case of rent-seeking power. The billion-dollar cake is right in front of us, and claiming not to be tempted is just false. --- Warren is right. This kind of conflict is unavoidable. How will regulators decide? --- Really, as long as the presidential family is involved, this will never pass... It's just ridiculous. --- Wait, a full-chain closed-loop stablecoin? Isn't that a private central bank? Who would dare to release it? --- Isn't this the problem we've been talking about with centralized stablecoins? Power concentrated in one family... --- I just want to ask, in which dynasty in history could nobles receive such treatment? Probably none. --- Regulators maintaining neutrality? Ha, if you have the guts, don't let the president get involved. --- If you ask me, Warren is truly standing on the side of justice this time, although she can be annoying sometimes. --- Billions... That's why I never trust these big projects. The bigger the scope, the more dangerous it becomes. --- So, for crypto to truly decentralize, it still needs to stay away from these power elites.

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DegenTherapist

· 16h ago

This conflict of interest is just too outrageous. The president's family directly controls the stablecoin lifecycle? Is regulation really still neutral...

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ZkProofPudding

· 01-14 18:10

Billions of dollars in conflicts of interest, how do regulators review this? LOL

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Blockchainiac

· 01-14 04:54

This move is truly incredible... The president's sons can even directly control the lifecycle of stablecoins? Why does no one find this outrageous? Warren is right. Such conflicts of interest definitely need to be clarified. Is the US system of checks and balances really just a show? If stablecoins are monopolized by one family... what do we still believe in decentralization? This business model is so easy to make money from, I want to start one too. It's impossible to truly conduct neutral censorship. Who can withstand such a big cake just sitting here? Directly controlling the lifecycle of stablecoins? It feels like playing with fire.

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ChainChef

· 01-14 04:53

honestly, this recipe's got way too many cooks in the kitchen already... letting them control the stablecoin supply chain while being in the family business? that's not seasoning, that's just pouring the whole salt shaker into one dish, ngl

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zkProofGremlin

· 01-14 04:51

Billions of dollars family business, Warren sister's move is indeed ruthless, but to be honest, regulatory authorities have long been sidelined haha --- This is outrageous, the president's son is involved in stablecoins? The US financial system is about to change --- Warren is right, with such obvious conflicts of interest, still expecting approval? Dream on --- Both stablecoins and banking licenses, the scale is expanding... but this family's operational style is truly exceptional --- Haha, this storyline, the crypto world never lacks "creativity"

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NFTFreezer

· 01-14 04:50

This conflict of interest is incredible. The President's family directly controls the life and death of stablecoins? How will regulators review this... Wait, if this really passes, what will happen next? Basically, it's just power rent-seeking. Warren is actually clear-headed this time. Although she's usually quite annoying, she’s right about this. It feels like this is hanging in the balance, and American politics are about to kick off again. A full-chain stablecoin closed loop... sounds great, but who will regulate it?

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AlwaysMissingTops

· 01-14 04:49

Wait, the presidential family is directly involved in stablecoin business and still needs to apply for a banking license? How is this even reviewed? The regulatory authorities must be quite embarrassed.

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MevHunter

· 01-14 04:45

Laughing out loud, the president's son has joined the board, and they still have the nerve to talk about independent review? Isn't this just blatant favoritism?

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