🤑 Trump’s Crypto Empire Eyes Bank Charter: Money, Power, and Memes! 🏦

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Ah, the glorious world of finance, where the Trump clan’s crypto venture, World Liberty Financial, is now knocking on the door of traditional banking like a persistent door-to-door salesman with a questionable product. 🧑‍💼✨ Yes, the same folks who brought you “stablecoins” (because who doesn’t love a currency as steady as a unicycle on a tightrope?) are now seeking a national banking charter. Because, you know, why stop at digital chaos when you can dive headfirst into the real thing?

(Or, as we like to call it, the TL;DR for the attention-span-challenged.)

  • World Liberty Trust is joining the crypto circus of firms begging for trust bank charters. 🎪
  • Their grand plan? To issue and safeguard stablecoins, which is like promising to keep a greased pig in a bathtub. 🐖🛁
  • Trump’s crypto escapades (launched in 2024, because why not?) have allegedly turned his pockets into the Mariana Trench of wealth. 💰🌊

According to the Wall Street Journal (or, as we call it, the Wall of Text Street Journal), World Liberty Trust filed a de novo application with the Office of the Comptroller of the Currency. Because nothing says “legitimacy” like a government agency with a name straight out of a Dickens novel. 📜

If approved, they’ll be able to issue and custody USD1, their dollar-backed stablecoin, which currently boasts a market value of $3.4 billion. 🤑 That’s right, folks-a currency so stable it’s backed by the same logic that says, “I’m sure this pyramid scheme will work out fine.” Meanwhile, a third-party investor dumped $2 billion into Binance, because why not throw good money after bad? 💸

This filing comes hot on the heels of trust bank charters being handed out like party favors to crypto bigwigs like BitGo, Fidelity Digital Assets, Circle, Ripple, and Paxos. 🎉 Under the Trump administration, it seems the banking system is now a crypto playground, complete with swings, slides, and the occasional systemic risk. 🏛️🎢

World Liberty plans to offer crypto custody and stablecoin conversion services to institutional clients, because nothing says “trust us” like a company run by people who’ve turned “conflict of interest” into an art form. 🎨 Meanwhile, executives claim a charter will reduce their reliance on third-party providers, which is like saying, “We’d rather juggle chainsaws ourselves, thank you very much.” 🔪

Critics are, of course, up in arms over potential conflicts of interest, given Trump’s crypto empire and his pardon of Binance founder Changpeng Zhao. 🦹‍♂️ But fear not! Company leaders assure us the trust is structured to avoid conflicts, with Trump family members holding only nonvoting interests and no operational control. Because, as we all know, the best way to avoid a conflict is to be there in spirit but not in body. 👻

So, there you have it, folks-another chapter in the never-ending saga of money, power, and questionable decisions. Stay tuned, because in the world of crypto and Trumps, the only thing that’s stable is the instability. 🌪️💸

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2026-01-08 01:41