On August 14, federal regulators cleared a national trust bank tied to the Trump family's crypto venture.

Warren called it the most brazen act of self-dealing our financial system has ever seen… and announced legislation to bar presidents and senior officials from owning or controlling banks.

The bank in question exists to issue and back USD1, a stablecoin that has now crossed $4 billion in circulation. The Trump family holds 38% of the parent company. And the approval stands. So there's a race on now. This ecosystem scaling up, against Washington players like Warren scrambling to slow it down.