Democratic Senator Elizabeth Warren has called on the U.S. Senate Banking Committee to suspend or reject the national trust bank license application of World Liberty Financial (WLFI), a cryptocurrency company reportedly linked to the Trump family. In a hearing, Warren cited a $500 million stake in WLFI by an entity associated with Tahnoon bin Zayed Al Nahyan and alleged potential conflicts of interest.

According to Warren, Aryam Investment 1, affiliated with Al Nahyan, acquired a 49% stake in WLFI prior to Donald Trump's presidency, with some funds allegedly flowing to the Trump family and related entities.

Jonathan Gould, Comptroller of the Currency, stated that the application would be processed through standard procedures and that he had not received political pressure beyond Senator Warren's inquiries.

The report was sourced from Decrypt.

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