Lookonchain APP

App Store
Feeds Articles

World Liberty Secures Conditional Trust Bank License from U.S. OCC, USD1 Stablecoin Issuance Rights to Be Transferred

2 days ago

This Friday, the U.S. Office of the Comptroller of the Currency (OCC) announced it has granted a "preliminary conditional approval" for a federal trust bank charter to Trump-linked crypto project World Liberty Trust Co., paving the way for it to take over the issuance of World Liberty Financial’s stablecoin USD1. Per OCC documents, World Liberty Trust Co. is authorized to operate as a national trust bank, conducting fiduciary management and related trust business. Final approval remains subject to additional conditions, including pre-opening requirements. World Liberty Trust Co. said it will be responsible for issuing fiat-backed stablecoin USD1 to institutional clients, replacing BitGo Bank & Trust, the current exclusive issuer and custodian of USD1. The firm also plans to offer digital asset custody services for USD1 users and other institutional clients. World Liberty applied for the bank charter in January this year, a move that drew criticism from Democratic lawmakers due to its ties to the Trump family. U.S. Senator Elizabeth Warren had previously called on the OCC to halt the approval process, criticizing some crypto firms for trying to circumvent traditional banking regulatory requirements. In its approval document, the OCC stated that the application was reviewed by professional regulators in accordance with relevant laws and regulations, and had no connection with political factors. Following the announcement, Democratic lawmakers including Warren said they will push forward the "Ending Presidential Banking Corruption Act", which aims to restrict senior U.S. government officials from owning or controlling banking institutions. Currently, the advancement of the U.S. Digital Asset Market Structure (CLARITY) Act has also been impacted by the related ethical controversies.

Source
Add to Favorites Download image Share x Copy link
Relevant content

Japan's 10-year government bond yield rises to its highest level in 30 years.

Japanese government bond prices fell due to fiscal concerns and growing market speculation that the Bank of Japan may raise interest rates in the coming months, pushing the 10-year government bond yield to its highest level since 1996. The 10-year yield rose as much as 5.5 basis points to 2.93%, while the 30-year yield climbed 5 basis points to 4.06%, approaching the record high reached in May.

17 minutes ago

Wash’s former employer took its first position in HYPE Treasury Company during Q2, acquiring $23 million worth of shares.

Duquesne Family Office, in its Q2 2026 13F filing with the U.S. Securities and Exchange Commission (SEC), disclosed that as of June 30, it had built a $23 million position in Hyperliquid Strategies Inc (Nasdaq: PURR) — a HYPE-focused treasury firm — marking its first disclosed holding in the asset. Earlier reports noted that U.S. Federal Reserve Chair Walsh previously worked at Duquesne Family Office; before taking office, his major asset holdings exceeded $100 million, including two Duquesne-related investments worth over $50 million, seemingly linked to his advisory role for the family office.

17 minutes ago

CITIC CLSA raises Lenovo Group's target price to HK$48.7, maintains 'Outperform' rating.

CLSA released a report stating that Lenovo Group’s first-quarter fiscal 2027 results (ending June) significantly beat expectations, driven by sharp growth in server business revenue and margins. The brokerage believes Lenovo is transforming into a key player in the AI server market, raising its target price for the stock from HK$36 to HK$48.7 and maintaining an "Outperform" rating. It also raised Lenovo’s adjusted net profit forecasts for fiscal 2027 and 2028 by 40% and 35% respectively, to US$4.4 billion and US$4.8 billion, while retaining the firm as a top pick in China’s tech sector.

17 minutes ago

Compensation of South Korean Chaebol Leaders for First Half of Year Exposed: Samsung Group Chairman Lee Jae-yong Still Received No Salary, SK Group Chairman Choi Tae-won Earned 1.75 Billion Won.

Regulatory filings show that Samsung Electronics Chairman Lee Jae-yong continued to forgo his salary from Samsung Electronics in the first half of this year, a practice he has maintained since 2017. SK Group Chairman Choi Tae-won received 1.75 billion won (approximately RMB 8.36 million) from the group’s holding company SK Inc. Doosan Group Chairman Park Jeong-won had the highest compensation in the first half, at 45.58 billion won (approximately RMB 218 million). Hanwha Group Chairman Kim Seung-youn took home 11.58 billion won (approximately RMB 55.3 million) from group subsidiaries, while Lotte Group Chairman Shin Dong-bin received 11.2 billion won (approximately RMB 53.5 million). LG Group Chairman Koo Kwang-mo got 4.83 billion won (approximately RMB 23.1 million). Hyundai Motor Group Executive Chairman Chung Euisun received 2.25 billion won (approximately RMB 10.75 million) from Hyundai Motor, 1.35 billion won (approximately RMB 6.45 million) from Kia, and 0.9 billion won (approximately RMB 4.3 million) from Hyundai Mobis.

17 minutes ago

Monitoring CZ’s Wallet, Trader Snipes MARSCOIN, Earning $282,000 in Hours

According to Lookonchain monitoring, a trader executed a high-profit MARSCOIN transaction within hours by tracking CZ’s public wallet. On-chain data shows that at the exact same time CZ’s wallet burned 4,444 MARSCOIN, the trader quickly deployed 16 BNB (valued at approximately $9,645) to purchase 84.61 million MARSCOIN. To outpace other traders, the trader raised the gas price to hundreds or even thousands of times the normal level, paying a $9.93 transaction fee. After the purchase, the trader adopted the strategy of “withdraw principal after doubling”: selling about 42.3 million MARSCOIN for 16.4 BNB to recover the initial investment, leaving the remaining position essentially a “zero-cost” holding. The trader did not liquidate immediately afterward, instead selling the remaining 42.3 million MARSCOIN in batches to avoid exiting too early if the token price continued to rise. Ultimately, the trader sold the remaining tokens for a total of 465 BNB, equivalent to approximately $282,000 at the time.

17 minutes ago

The 'Niu Lai' crypto token hits a new all-time high market cap, briefly topping $42 million.

According to GMGN market data, the Meme coin "Niu Lai" on BNB Chain has hit a new high, once surging past $42 million, and has now dipped slightly to $42.05 million, with a 75.02% gain over the past 24 hours.

17 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

2024.12.16 14:48:36

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

2024.12.14 10:35:27

When Elon Musk tweeted about Moltbook, the meme coin MOLT experienced a short-term 30% price surge, hitting a new all-time high of $114 million.

2026.01.31 18:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18

A sniper earned 2,277 $ETH ($8.3M) trading $SHIRO within 18 hours!

2024.12.03 23:09:08

 More

Hot Articles

Follow us

X

Follow

Telegram

Join

Popular tokens

BitcoinEthereumHyperliquidSolanaTRONBNBTetherAaveXRPPepeFartcoinOndoJupiterUniswapBonkPendleEthenaArbitrumAvalancheLidoChainlinkPolygonDogecoinCardano