Senator Warren and the head of the OCC engage in a debate over WLFI-related cryptocurrency bank applications
By: rootdata|2026/02/28 18:43:31
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Senator Warren called the application "the most despicable" presidential corruption scandal, pointing out that the UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan's related investment firm invested $500 million in WLFI four days before Trump took office, acquiring a 49% stake, of which approximately $187 million flowed to Trump family entities.
Warren urged Gould to reject or suspend the review of the application, stating that approval would make him "an accomplice to corruption." Gould, however, refused to intervene, stating that he would process the application according to standard procedures and countered that the only political pressure felt came from Warren. 41 House Democrats had previously written 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."
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