Regulation
Donald Trump Crypto Holdings Exceed $10M Ahead US Presidential Election
Former U.S. President Donald Trump‘s on-chain crypto holdings have exceeded the $10 million mark. The surge was primarily driven by a significant rise in the value of the MAGA (TRUMP) meme coin. According to Trump’s portfolio, he has invested over $7 million in the TRUMP coin.
Donald Trump’s Crypto Holdings
As of this morning, Trump’s digital assets portfolio has been bolstered by a notable increase in the price of TRUMP coin. According to Arkham Intelligence, Trump currently holds $7.3 million worth of MAGA crypto
Hence, the total crypto holdings in the US presidential candidate’s portfolio amounts to $10.14 million. Moreover, Ethereum (ETH) is second in the list of Trump’s crypto investments with $1.81 million invested. However, the pro-crypto presidential candidate hasn’t invested in the largest cryptocurrency, Bitcoin (BTC).
Whilst, his interest in the TRUMP coin, which is a political meme coin based on Solana, suggests his tactic to promote himself within the crypto community via this holding. The Republican presidential candidate reinforced his commitment to protecting the crypto sector, promising to nurture a robust crypto environment in the US.
In a speech delivered in Washington D.C. on Saturday, May 25, Trump vowed to take all necessary actions to safeguard the future of digital currencies. This statement follows closely after the former President’s recent announcement that he would accept cryptocurrency donations.
During his address on Saturday, Trump assured that Bitcoin and other cryptocurrencies would remain a key part of the U.S. financial system. Moreover, he stressed his support for the right of individuals to hold and manage their own digital assets. He said, “I will support the right to self-custody.”
Trump also criticized Senator Elizabeth Warren and her regulatory initiatives. In addition, he stated, “I will keep Elizabeth Warren and her goons away from your Bitcoin.” Trump further promised his audience that he would never permit the establishment of a central bank digital currency.
Also Read: VanEck Advisor Favors Bitcoin Over Ether In US Strategic Reserve Proposal
Robert F. Kennedy Jr Issues Scathing Critique
On the other hand, Robert F. Kennedy Jr. lambasted Trump, accusing him of failing to deliver on key promises and instead advancing policies that benefited the wealthy and powerful. “President Trump scammed American workers,” Kennedy asserted. Moreover, he highlighted unfulfilled promises to “bring back manufacturing, raise wages, fix trade deals, close the carried interest loophole, and help small farmers.”
Kennedy, another pro-crypto presidential candidate, argued that Trump’s achievements primarily aligned with the Republican establishment’s interests. “We got a tax cut for Jeff Bezos, deregulation for special interests, and giveaways to agriculture conglomerates,” he stated. This underscores the administration’s favoritism towards big business.
RFK Jr. also criticized Trump’s appointments, noting his Interior Secretary was an “oil & gas lobbyist,” the Defense Secretary a “Raytheon lobbyist,” and other key positions held by individuals with ties to major industries. Additionally, he pointed out that Trump’s support for farmers disproportionately benefited “Big Ag conglomerates” rather than small farmers.
Kennedy further condemned Trump’s handling of domestic unrest and foreign policy, accusing him of inflaming racial tensions and exacerbating international conflicts. He also blamed Trump for the economic fallout from COVID-19 lockdowns and for worsening the opioid crisis. “If you think a second Trump term would be any different, you are engaging in wishful thinking,” Kennedy concluded.
Also Read: Donald Trump Vows To Never Allow CBDC, Reduce Life Sentence of Silk Road Founder
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.
US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges
The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.
Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.
Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans. Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.
Sonic Labs Makes U-Turn Over Algorithmic USD Stablecoin
In mid-March, Sonic Labs disclosed plans for a yield-generating algorithmic stablecoin for its blockchain. However, new developments in the US regulatory landscape are forcing the company to ditch its algorithmic stablecoin ambitions.
Sonic Labs co-founder Andre Cronje confirmed the change in direction via an X post following the release of the full draft of the STABLE Act by Congress for clearer oversight. According to the text, lawmakers are pushing for a two-year moratorium on algorithmic stablecoin, souring Sonic Labs plans.
Unlike mainstream stablecoins backed by fiat or other commodities, algorithmic stablecoins rely on smart contracts to maintain their peg. The 2022 implosion of Terra’s ecosystem following the de-pegging of its TerraUSD (UST) algorithmic stablecoin stunned regulators.
“We will no longer be releasing a USD-based algorithmic stablecoin,” said Cronje.
In a light-hearted note, community members teased potential strategies for Sonic Labs to sidestep incoming stablecoin regulation. Apart from the loophole of launching the algorithmic stablecoin before the regulation goes live, Cronje teased an algorithmic dirham that will be denominated in USD.
Industry Players Are Bracing For New Stablecoin Regulations
Stablecoin issuers are steeling themselves for incoming stablecoin regulations in the US. While the GENIUS Act and STABLE Act continue to inch forward, there are common denominators in both bills.
For starters, there is the requirement for equivalent reserves at a 1:1 ratio with both bills steering clear of algorithmic stablecoins. The White House is favoring the GENIUS Act over the STABLE Act as lobbyists rally to stifle the possibility of a Conference Committee.
Authorities are targeting stablecoin regulation to reach Trump in two months as issuers jostle for position. Tether, Circle, and Ripple are staking their claims to lead the US government’s ambitions to rely on stablecoins to maintain the dollar’s dominance.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Federal Deposit Insurance Corporation (FDIC) has updated its guidelines, enabling banks to engage in cryptocurrency-related activities without seeking prior approval. This new policy shift signals a change in the FDIC’s approach to the growing role of digital assets in the banking sector.
New FDIC Guidelines on Crypto-Related Activities
The FDIC has issued a new Financial Institution Letter (FIL-7-2025), which provides updated guidance for banks looking to engage in cryptocurrency activities. The new guidance rescinds the previous policy set out in FIL-16-2022, which required banks to notify the FDIC before engaging in such activities.
Under the new rules, banks can now participate in permissible crypto-related activities without waiting for FDIC approval, as long as they manage the risks appropriately.
This change is seen as a shift in the FDIC’s stance, following the agency’s earlier stance that required prior approval for crypto engagements. FDIC Acting Chairman Travis Hill expressed that this new approach aims to establish a more consistent framework for banks to explore and adopt emerging technologies like crypto-assets and blockchain.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” said Hill in a statement.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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