At a House Financial Services Committee hearing on oversight of prudential regulators, Comptroller of the Currency Jonathan Gould pushed back against accusations that he was acting on behalf of former President Donald Trump in reviewing a national trust charter application tied to the Trump family’s crypto firm, World Liberty Financial (WLF). Representative Gregory Meeks (D-NY) pressed Gould on WLF’s reported ties to foreign governments and the Binance exchange and said the company “actively lines the pockets of the president’s family.”
WLF, whose co‑founders include Donald Trump and two of his sons, filed an OCC application in January for a national trust bank charter. That filing has drawn sharp criticism from Democratic lawmakers who say the application presents conflicts of interest and merits heightened scrutiny. Meeks accused Gould of being “Trump’s fixer” and suggested the application would receive favorable treatment.
Gould responded that the only political pressure he had experienced at the OCC came from members of Congress, telling Meeks, “Your attempts to continue to pressure me are the only political pressure I’ve felt from anyone other than your Senate colleagues.” He described the situation as “very unfortunate and unprecedented.” Gould also reiterated earlier statements that the OCC would be “apolitical and nonpartisan” in evaluating charter applications.
The controversy emerges as the OCC has already granted approvals or conditional approvals to several crypto firms seeking national trust charters, including Coinbase, Ripple, BitGo, Circle, Fidelity Digital Assets and Paxos. Kraken’s parent company, Payward, filed a similar OCC application in May. Approval of a national trust bank charter allows crypto firms to offer certain custody and trust services under federal chartering rules that differ from the regulatory framework for traditional commercial banks.
Senator Elizabeth Warren and other Democrats have urged the OCC to pause or more closely scrutinize WLF’s application, arguing some approvals have gone to companies they view as potentially ineligible under federal banking laws. The debate over charters coincides with broader legislative efforts to clarify crypto rules: the comprehensive CLARITY Act has advanced in committee and is expected to reach the full Senate, with Treasury Secretary Scott Bessent saying the administration aims for passage this summer and some senators anticipating a vote before August.
Gould, a Trump nominee confirmed by a Republican‑led Senate in July 2025, faces lawmakers’ demands for transparency and consistent standards as the OCC weighs high‑profile crypto charter applications amid mounting political scrutiny.