A tense exchange unfolded during a Senate Banking Committee hearing when Sen. Elizabeth Warren pressed Comptroller of the Currency Jonathan Gould over a pending bank charter application tied to President Donald Trump’s crypto company World Liberty.
Elizabeth Warren Demands Answers on World Liberty Bank Demand
Warren cited a Wall Street Journal report alleging that a top United Arab Emirates official secretly acquired a 49% stake in Trump’s crypto business shortly before Trump returned to power.
She questioned whether the foreign investor was properly disclosed in World Liberty’s application to the Office of the Comptroller of the Currency (OCC), which regulates domestic banks.
“Did World Liberty reveal that the Emirati official’s company was a shareholder? » Warren asked.
Gould declined to discuss details of any pending applications, saying the OCC would follow established regulatory procedures. Warren countered that OCC rules require full disclosure of any major shareholder with a stake of 10% or more, arguing that failure to do so would warrant denial of the application.
She requested access to an unredacted record for committee oversight, saying lawmakers needed to verify compliance with disclosure requirements. Gould said he would consider the request to be consistent with established protocols.
Warren framed the issue as both a national security and conflict of interest concern, warning that foreign ownership of a U.S. bank tied to a sitting president posed significant risks. She also accused the OCC of potentially fostering corruption if it approved the charter.
Gould rejected allegations of political influence, saying the only pressure he felt “came from you” and maintained that the agency would treat the request like any other.
The clash shows escalating political tensions around crypto regulation, banking charters and the intersection of digital asset projects with presidential business interests.