A Trump-Linked Crypto Firm Just Won Preliminary Approval For A Bank Charter. What Happens if It Needs a Bailout?

A Trump-backed crypto venture has cleared a key regulatory hurdle, setting up a debate over banking oversight, conflicts of interest, and who bears the risk when financial institutions run into trouble.

BY MELISSA ANGELL, SENIOR STAFF WRITER @MELISSKAWRITES

World Liberty Financial and ALT5 Sigma ring the Nasdaq Stock Market opening bell. Photo: Getty Images

President Donald Trump’s family just got one step closer to operating a bank.The Office of the Comptroller of the Currency (OCC) in mid-August extended preliminary approval to World Liberty Trust Company to seek out a bank charter. WLTC is linked to World Liberty........

© Inc.com