Senator Warren debates with the head of the US OCC over WLFI-related crypto bank applications

Deep Tide TechFlow News, February 27 — According to Decrypt, U.S. Senator Elizabeth Warren and Office of the Comptroller of the Currency (OCC) Director Jonathan Gould had a heated debate during a Senate Banking Committee hearing over the national trust bank license application for World Liberty Financial (WLFI).

Warren called the application “the most despicable” presidential corruption scandal, pointing out that investment firms linked to UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan invested $500 million in WLFI four days before Trump’s inauguration, acquiring a 49% stake, with about $187 million flowing to Trump family entities. Warren urged Gould to reject or suspend the review of the application, saying approval would make him “an accomplice in corruption.” Gould refused to intervene, stating he would handle the application through normal procedures, and countered that the only political pressure he felt came from Warren. Forty-one House Democrats previously wrote to the Treasury Secretary warning that approving the license could threaten the “legitimacy of the U.S. banking system and its independence from foreign actors.”