Eric Trump agreed to limit his influence over World Liberty Financial’s planned trust bank

Eric Trump has agreed to pull back from decision-making at World Liberty Financial’s proposed national trust bank while the crypto business works through the federal approval process.

Eric, World Liberty co-founder Zak Folkman, and Emirati investor Hamad Khalfan Ali Matar Alshamsi each signed separate commitments through companies connected to them. The agreements keep all three investors away from bank management decisions.

The commitments became public when World Liberty won preliminary approval late last week. They deal with the company’s ties to Trump’s family and overseas money as its affiliate pursues a federal bank charter.

Such deals have been termed passivity commitments. According to World Liberty, the reason behind making such arrangements is to ensure that particular investors do not control the trust bank.

The lawyers said the reason why the case would be considered different is that, apart from a foreign investor, who has some connections with the royal family of Abu Dhabi, it is the son of the country’s president, which makes the situation different from others. This is also true for other aspects of financial business.

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