World Liberty gets conditional bank charter approval

World Liberty Financial has received conditional OCC approval for a national trust bank charter, which would let the Trump family-linked firm bring issuance, custody and reserve management for its $4 billion USD1 stablecoin in-house. It joins a growing crypto push into the federal banking system – Circle has already received final approval for its national trust bank, while Coinbase, Ripple, BitGo, Fidelity and Paxos have received conditional approvals for trust-bank charters or conversions. Erebor is part of the same broader trend, though it is pursuing a full national bank rather than a trust bank. World Liberty’s approval, of course, is already drawing Democratic scrutiny over potential conflicts of interest tied to the president’s family. Read more →

Blockchain analytics company Chainalysis has sued the U.S. government over an ICE decision to award a sole-source contract to competitor TRM Labs for $94.7 million. Chainalysis argues that the award was not competed and that they could handle the job. The company, which has been rumored to be preparing for an IPO, raised money at a $8.6 billion valuation in 2022. Read more →

Galaxy Research has cut its estimate of Clarity passing in 2026 to just 10%, down from 30%, as unresolved fights over ethics, bank lobbying and developer protections collide with a very short September Senate window. The bill’s first procedural vote is still lined up for September 15, but Galaxy thinks getting from there to 60 votes may now require something close to a political miracle. And the regulatory backup plan isn’t moving smoothly either – the SEC canceled last Friday’s meeting on new crypto offering rules, while a separate exemption for tokenized securities trading has reportedly been delayed again. Read more →

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