00:00Did the Trump family's crypto company just get approved to become a bank? Well,
00:03kind of. A Trump-appointed regulator has conditionally approved a National Trust
00:07Bank Charter for World Liberty Financial. That means the company could
00:11eventually issue its own USD1 stablecoin, which is basically crypto
00:15designed to stay worth one US dollar and hold the real dollars backing it. Now,
00:19this wouldn't be a normal bank. It couldn't take deposits or make loans. But
00:22here's where it gets controversial. Reuters estimates the Trump family has
00:25already made around 50 million dollars from USD1. The regulator says career
00:29staff reviewed the application fairly. So is this a big step forward for crypto or a
00:34massive ethics red flag? Let us know in the comments below. And to find a Bitcoin ATM
00:37near you, go to bitefederal.com.
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