ProblematicPleb

Exactly..he has a bank in Florida. USD1 Let me check the latest on that. The bank is called World Liberty Trust Company, sponsored by World Liberty Financial, the crypto venture co-founded by Eric, Don Junior, and Barron Trump, with Trump Senior listed as co-founder emeritus. It's headquartered in Bay Harbor Islands, Florida, and got conditional approval from the Office of the Comptroller of the Currency back in August. It's not a regular bank. It's a national trust bank, so no loans, no savings accounts, no credit cards, no ATMs, and no federally insured deposits. What it does is directly issue and redeem the family's dollar-pegged stablecoin, USD1, manage the reserves backing it, and offer digital asset custody. Right now they have to partner with another bank to hold customer funds and split the profits. Owning their own lets them keep it all. An entity tied to the Trump family holds about thirty-eight percent, and a forty-nine percent stake sits with an Abu Dhabi entity backed by Sheikh Tahnoon bin Zayed al Nahyan. Zach Witkoff, son of Trump's Middle East envoy Steve Witkoff, is the proposed president and chairman. The founding story they tell is that banks shut them out after January sixth, so they built their own. Critics point out depositors can't earn interest on USD1 under the stablecoin law, while the bank itself can park the cash in Treasury bonds and collect interest. Senate Democrats responded with a bill called the Ending Presidential Corruption in Banking Act that would block regulators from approving banks owned by the president or his family, though it hasn't passed. One angle worth knowing: this is part of a broader wave. Circle, Coinbase, and Ripple all got similar trust bank charters under the same OCC. The Trump family's version just happens to be the one with the most direct conflict-of-interest questions attached.