Trump-Backed Crypto Bank Hustle Sparks Regulatory Meltdown 😂

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World Liberty Financial (WLFI) has joined the “I’m-a-bank-now!” parade, applying for a national trust charter to peddle stablecoins like a crypto Willy Wonka 🎩.

But here’s the catch: traditional banks are throwing shade, accusing WLFI and its crypto pals of “bank cosplay” – pretending to be banks without the boring stuff like regulations or accountability. Who needs compliance when you’ve got a Twitter warlord in the Oval Office? 🤡

Trump’s Favorite Crypto Cash Cow Files Bank Charter Paperwork

WLFI, backed by a certain former president who still thinks he’s the star of a reality TV show, announced its affiliate is slapping together a trust bank application. Because nothing says “trustworthiness” like a brand new bank with a name longer than your ex’s LinkedIn headline. 🏦✨

The proposed bank would specialize in stablecoins – because nothing’s more stable than digital money tied to fiat, right? And yes, it’ll operate nationwide with a single federal license. Why pay for 50 state licenses when you can just wing it federally? 🤷♂️

Looks like the Trump family’s @worldlibertyfi is joining the conga line of crypto firms applying for U.S. bank charters (as @CaitlinLong_ would say).

Interesting timing with market structure markup right around the corner + ongoing ethics controversy…

Nice scoop from…

– Eleanor Terrett (@EleanorTerrett) January 7, 2026

Trust banks aren’t for people who like to keep their money safe – unless you count a vault in the clouds 🌥️💰. They can’t take deposits or lend money, but hey, they’ll still get all the federal perks without the pesky requirement of actually being responsible. 😎

WLFI promises to play nice with “strict AML, sanctions screening, and cybersecurity standards.” Because nothing says “trust” like a checklist of buzzwords. Their trust officer? Mack McCain – because even your name needs a dynasty. 🧑⚖️

Banks, however, are throwing up red flags like a traffic jam. They argue these crypto-chartered “banks” are creating a Wild West where the only thing regulated is the number of emojis in your press release. 🚨

Traditional Banks: “This Is Not a Game”

The big issue? Crypto firms get bank-like status but skip the part where you have to actually be a bank. No capital requirements, no liquidity rules – just crypto, cash, and chaos. 🤹♂️

Rebeca Romero Rainey of the Independent Community Bankers of America summed it up perfectly: “The OCC is stretching the trust charter like tinsel at a Christmas party. Consumers are the ones who’ll get the hangover.” 🎄💥

“The conditional approvals of five national trust bank charters from the OCC further stretches the national trust bank charter beyond its statutory and historical purpose, endangers consumers, and creates institutions the OCC is not equipped to resolve in an orderly way,” said Rebeca Romero Rainey, the voice of reason in a world of crypto chaos 🤯.

Crypto’s favorite loophole? “We’re not a real bank, but we play one on TV!” 🎭💸. And if their “bank” crashes? No FDIC insurance for you! Just a nice, warm hug from the SEC and a trip to crypto purgatory. 🔥

We oppose the OCC’s conditional approval of five national trust bank charter applications from nonbank fintechs. We have repeatedly said the OCC lacks statutory authority to expand trust powers and that the sudden influx of applications threatens consumers and the financial…

– Independent Community Bankers of America (@ICBA) December 12, 2025

The OCC will take 12-18 months to decide. By then, WLFI might’ve already pivoted to NFTs or a Metaverse savings account. 🌐🏦

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2026-01-09 01:13