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Texas Bank Under $6 Billion Ties Itself to Trump’s Pro-Bitcoin Power Bloc
Yahoo Finance· 2025-12-07 22:35
Core Insights - Monet Bank, a small Texas lender with assets under $6 billion, has rebranded twice in 2023 to position itself as a crypto-focused "infrastructure bank" [1][2] - The bank aims to become a premier digital asset financial institution, offering solutions for Bitcoin, stablecoins, and broader digital asset finance [2] - Owner Andy Beal, a major Trump ally, is integrating Monet Bank into a pro-Bitcoin power network surrounding Donald Trump, which is expanding rapidly [1][4] Company Overview - Monet Bank, previously known as Beal Savings Bank, has undergone a strategic rebranding to reflect its focus on digital assets [2] - The bank is regulated by the FDIC and operates six offices in Texas [2] - Beal Financial Corp. founder Andy Beal is known for his political contributions to Trump's 2016 campaign and is now entering the digital asset sector [3] Political and Industry Context - Analysts suggest that Monet Bank is part of a pro-Bitcoin political network that includes firms with ties to Trump and his advisers, forming a Bitcoin-and-stablecoin monetary bloc [4] - This network is seen as actively building an alternative monetary order centered on Bitcoin and stablecoins [5] - Notable entities in this bloc include Cantor Fitzgerald, Tether, Twenty One Capital, Metaplanet, Strive, and Strike, all of which have connections to Trump or his supporters [5]