Warren urges halt to WLFI-linked bank bid until Trump divests

Senator Elizabeth Warren has called on a US banking regulator to pause a trust bank application linked to World Liberty Financial until President Donald Trump divests his family’s stake.

Warren raised the issue days before the Senate Banking Committee is due to consider sweeping crypto market structure legislation.

The Massachusetts Democrat sent a letter to Office of the Comptroller of the Currency chief Jonathan Gould urging a delay to the application.

The application could allow a World Liberty Financial-linked entity to issue the USD1 stablecoin under a US trust bank charter.

We have never seen financial conflicts or corruption of this magnitude.

Elizabeth Warren said, adding that Congress failed to address the issue when passing the GENIUS Act.

Warren warned that approving the application could allow rules to be set that influence the profitability of a company tied to the president.

She argued this would effectively place Trump in a position of overseeing his own business interests.

The draft crypto bill set for committee review does not yet include government ethics provisions sought by Democratic lawmakers.

Warren has repeatedly criticised the administration over potential conflicts of interest linked to crypto policy and regulation.

At the time of reporting, World Liberty Financial price was $0.1824.