Senator Warren and the head of the US OCC debate over WLFI-related crypto bank applications

According to ChainCatcher, Senator Warren described the application as "the most egregious" presidential corruption scandal, pointing out that investment institutions related to UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan invested $500 million in WLFI four days before Trump’s inauguration, acquiring a 49% stake, with approximately $187 million flowing to Trump family entities.

Warren urged Gould to reject or suspend the review of the application, stating that approval would make him "an accomplice to corruption." Gould refused to intervene, saying the application would be processed according to standard procedures, and countered that the only political pressure he felt came from Warren. Previously, 41 House Democrats had sent a letter to the Treasury Secretary, warning that approving the license could threaten "the legitimacy of the U.S. banking system and its independence from foreign actors."