Senator Warren calls for delay in charter of World Bank of Liberty
U.S. Sen. Elizabeth Warren on Tuesday urged federal regulators to stop reviewing a national bank charter application involving World Liberty Financial (WLF), escalating a high-stakes conflict over ethics, stablecoin regulation and the expanding role of cryptocurrency companies in the U.S. banking system. In a letter to Comptroller of the Currency Jonathan Gould, Secretary of State Elizabeth Warren urged the Office of the Comptroller of the Currency (OCC) to pause the process until potential conflicts of interest issues involving President Donald Trump are fully resolved.
Amid the controversy, World Liberty Markets executives pointed to the platform’s early traction.
“In just two days, World Liberty Markets’ TVL exceeded $50 million.
The most encouraging part so far has been the quality of the feedback and how quickly users are engaging with the product.
“It’s still early, but it’s a solid start.”
— Zak Folkman, co-founder and COO of World Liberty Markets, posted on X (formerly Twitter). World Liberty Markets operates separately from World Liberty Financial, which pursues a banking charter but is aligned with the wider World Liberty ecosystem.
Warren urges OCC to halt charter review
At the center of the controversy is World Liberty Financial (WLF), a cryptocurrency venture co-founded by Donald Trump, which is seeking federal banking charter through its subsidiary WLTC Holdings. The application allows World Liberty Financial (WLF) to issue and manage deposits linked to the company’s stablecoin, USD1, and places the company under the supervisory umbrella of the Office of the Comptroller of the Currency.
In a letter dated January 13, 2026, Senator Elizabeth Warren urged OCC Comptroller Jonathan Gould to delay review of World Liberty Financial’s (WLF) application for a National Trust Bank charter, warning that it poses an “unprecedented” conflict of interest because the company was co-founded by President Donald Trump.
Warren wrote that the recently enacted GENIUS Act of 2025, which made the OCC the primary regulator of stablecoin issuers, did not consider a scenario where a sitting president maintains a direct financial stake in a company seeking federal banking charter. She asked the OCC to pause the process until Trump and his family withdraw from World Liberty Financial (WLF) and requested a written commitment by January 20, arguing that approving the application without resolving this conflict could undermine regulatory independence and public trust.
She called for enhanced disclosure, independent oversight and, if necessary, divestment of politically exposed people associated with World Liberty Financial (WLF).
Donald Trump’s involvement is expected to significantly impact the application. As President of the United States and co-founder of World Liberty Financial (WLF), Donald Trump holds a dual role that Elizabeth Warren has described as a textbook conflict of interest.
Warren warned that approving the charter under these circumstances could erode public trust in the OCC and blur the lines between executive power and private financial interests. Mentions of Donald Trump and World Liberal Finance (WLF) sparked a partisan debate within the Senate Banking Committee, with Democrats urging caution and Republicans accusing Elizabeth Warren of politicizing financial innovation.
In comments from co-founder Zach Witkoff, World Liberty Financial said the proposed bank charter would allow the company to consolidate the issuance, storage and conversion of USD1 stablecoins within a single, highly regulated institution.
Precedented Decision on Stablecoins
The OCC has not publicly said whether it will grant Elizabeth Warren’s request for a delay. Any decision will be closely watched by lawmakers, regulators, and cryptocurrency companies as it could set a precedent for how politically connected applicants are treated under the GENIUS Act.
The current clash between Elizabeth Warren and Donald Trump has turned the World Liberty Financial (WLF) charter bid into a crucial test of government ethics and the future of U.S. stablecoin regulation.
