Regulation
Peter Schiff Calls For Congress To Investigate Trump’s Crypto Rug Pull

Bitcoin critic Peter Schiff has urged Congress to launch an investigation into what he describes as the largest crypto rug pull in history. Schiff’s demand follows controversial posts from President Donald Trump’s Truth Social account, which allegedly contributed to a pump and dump scheme.
Schiff is calling for transparency regarding the authorship of these posts, the individuals who had prior knowledge of them, and the financial transactions linked to the incident.
Bitcoin Critic Peter Schiff Blasts Trump Over Alleged Crypto Pump and Dump
Peter Schiff has raised concerns about the recent surge in cryptocurrency prices following two posts from President Donald Trump’s Truth Social account. Schiff claims the posts were strategically timed to manipulate the market, benefiting individuals who had advance knowledge of their release. He has called for a full congressional investigation to determine who was involved.
The economist has specifically questioned the authorship of the Truth Social posts. Peter Schiff believes certain individuals may have used insider knowledge to invest in cryptos such as XRP, Cardano (ADA), Solana (SOL), Bitcoin (BTC), and Ethereum (ETH) before selling at inflated prices. He urged lawmakers to trace financial transactions linked to the alleged scheme.
More so, the Bitcoin critic is demanding access to emails and text messages from Trump’s staff, family, and employees. He aims to investigate any coordination behind the crypto-related posts on Truth Social.
Peter Schiff added,
“Donald Trump, the first crypto President, just helped pull off the biggest crypto rug pull of all time. A Congressional investigation is now warranted.”
Schiff Questions Insider Trading
Schiff has urged authorities to examine whether individuals close to Donald Trump benefited financially from the crypto market movements. He is calling for an investigation into who purchased digital assets before the posts were made public.
The Bitcoin critic wants investigators to determine how much money was invested by those with prior knowledge of the posts and the exact timing of any subsequent sales. Schiff claims that if insider trading occurred, it would constitute a major financial scandal.
The Bitcoin critic said,
“We also need all emails or text messages that involve any members of the President’s staff, his or their family or friends, his campaign donors, or Truth Social employees, that relate to either of the two Sunday Truth Social posts.”
Bitcoin Critic Rejects Support for BTC Reserve
Meanwhile, Peter Schiff recently distanced himself from previous comments that appeared to support a strategic Bitcoin reserve. He now claims that Bitcoin enthusiasts misrepresented his statements to manipulate public perception.
The economist has accused Bitcoin promoters of spreading false information to inflate BTC prices. Schiff insists that his remarks were taken out of context and that he never endorsed Bitcoin as a reserve asset. He has criticized what he calls “fraudulent tactics” used by Bitcoin supporters to influence the market.
Despite Peter Schiff’s allegations, the Donald Trump administration has continued to push its crypto agenda. In a recent CoinGape report, US SEC Commissioner Hester Pierce confirmed the members of the newly formed Crypto Task Force, signaling a shift in regulatory approach. The 15-member team includes staff from various SEC divisions, focusing on developing clear guidelines for the crypto industry.
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.
Regulation
US Senate Banking Committee Approves Paul Atkins Nomination For SEC Chair Role

The U.S. Senate Banking Committee has voted to approve Paul Atkins’ nomination for the role of Chair of the Securities and Exchange Commission (SEC). The vote, which took place on Thursday, passed with a narrow margin of 13-11, along party lines.
Paul Atkins, nominated by President Donald Trump, now moves one step closer to taking over the top regulatory position at the US SEC.
Senate Banking Committee Approves Paul Atkins Nomination
Paul Atkins’ nomination for SEC Chair has received approval despite sharp opposition from Democratic members of the Senate Banking Committee. The vote was entirely split, with Republicans supporting Atkins and all Democrats opposing the decision.
This partisan divide highlights the contentious nature of Atkins’ confirmation, which had been under scrutiny for several reasons.
The committee’s approval now clears the path for Atkins to proceed to the full Senate for a final confirmation vote. Given the Republican-controlled Senate, it is widely expected that Atkins will secure the necessary votes to take over the SEC leadership. With Republicans holding a 53-47 majority in the Senate, the confirmation process is anticipated to move forward swiftly.
This Is A Developing News, Please Check Back For More
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.
Regulation
Kraken Obtains Restricted Dealer Registration in Canada

Cryptocurrency exchange Kraken has obtained a Restricted Dealer registration in Canada. The registration comes after completing a pre-registration undertaking (PRU) process with Canadian authorities.
The exchange has also announced the appointment of Cynthia Del Pozo as its new General Manager for North America. Del Pozo will oversee Kraken’s growth initiatives in Canada.
Kraken Completes PRU Process In Canada
Kraken’s Restricted Dealer registration marks the completion of a thorough pre-registration undertaking (PRU) process with Canadian regulators. The registration places Kraken under the supervision of the Ontario Securities Commission (OSC). This oversight ensures users have access to secure crypto products within a properly regulated local ecosystem.
According to the Canadian Securities Administrators (CSA), the Restricted Dealer registration is one of eight firm registration types in Canada. This particular classification is used for firms that “do not quite fit under any other category.” It also comes with specific requirements and conditions set by securities regulators.
Kraken’s regulatory achievement comes during a period of change in the Canadian crypto sector. Just months earlier, competitor Gemini exchange announced its departure from the Canadian exchange market by the end of 2024. This was a move that surprised many and raised questions about cryptocurrency regulation clarity in the country.
Kraken Introduces New Canadian GM
Del Pozo has joined Kraken to lead its Canadian operations as the new General Manager for North America. She has nearly 15 years of experience in corporate development, operations, and fintech consulting. Del Pozo will help to guide Kraken’s expansion across Canada during this important phase of crypto’s development in the region.
“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.
In her role, Del Pozo will focus on strengthening Kraken’s regulatory relationships and also scaling the company’s presence throughout North America.
Del Pozo also commented on the registration achievement: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform and to deliver innovative products that provide real-world utility to Canadians.”
The Exchange’s Continued Growth In Canada
Over the past two years, the cryptocurrency exchange has shown steady expansion in Canada while working through the PRU process with regulators. During this period, the exchange has doubled its team size and monthly active users.
According to the official blog post figures, the firm now has more than $2 billion CAD in total client assets under custody. Kraken has also increased support for some of the most popular cryptocurrencies. It provides several CAD spot trading pairs that enable Canadians to trade crypto without paying expensive foreign exchange fees.
According to Innovative Research Group’s 2024 Investor Survey, 30% of Canadian investors currently own or have owned cryptocurrencies. Likewise, a KPMG Canada survey discovered that 30% of Canadian institutional investors now have exposure to cryptocurrencies, which means widespread adoption across investor types.
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.
Regulation
USDC Issuer Circle Set To File IPO In April, Here’s All

USDC issuer Circle is reportedly set to file its initial public offering (IPO) in April as part of the firm’s plans to finally go public. The stablecoin issuer is allegedly already working with top financial institutions to achieve this move.
Circle To File IPO In Late April
According to a Fortune report, Circle is looking to file its IPO in late April, although the listing period remains uncertain. The report noted that when a company files to go public, its shares usually begin trading four weeks later, indicating that the listing could occur in May. However, there is also a scenario where the IPO process could drag on for months.
The stablecoin issuer is reportedly working with investment banks JPMorgan Chase and Citi to achieve its long-anticipated IPO. The firm had previously tried to go public in 2021 under a SPAC arrangement with a shell company.
The US SEC failed to sign off on this arrangement back then, and the company eventually scrapped these IPO plans by the end of 2022 when the crypto exchange FTX collapsed and the broader crypto market experienced a downturn.
Revelation about Circle’s IPO plans comes just days after the stablecoin issuer partnered with NYSE’s parent company to explore USDC’s use in traditional finance (TradFi). Meanwhile, the USDC stablecoin recently launched in Japan following approval from the country’s regulator. Notably, USDC is the first and only global dollar stablecoin approved under Japan’s stablecoin framework.
An Easier Path Now For The Stablecoin Issuer
Circle will likely face less resistance for its IPO plans under the current SEC administration. Under acting Chair Mark Uyeda, the Commission has shown its willingness to work hand in hand with crypto firms, which was missing under Gary Gensler’s administration.
US SEC Chair nominee Paul Atkins has also shown his willingness to change the approach that Gensler’s administration adopted towards crypto firms. During his nomination hearing, the SEC Chair nominee promised to prioritize providing regulatory clarity for the industry.
Circle’s IPO listing would be the biggest since the top crypto exchange Coinbase went public in 2021. Interestingly, Coinbase owns an equity stake in the crypto firm.
The firm’s USDC is currently the second-largest stablecoin by market cap, only behind Tether’s USDT. The stablecoin industry is heating up as more financial institutions look to develop their own stablecoin.
Donald Trump’s World Liberty Financial recently revealed plans to launch its USD1 stablecoin, while asset manager Fidelity is also considering doing so.
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.
-
Altcoin24 hours ago
Here’s Why This Analyst Believes XRP Price Could Surge 44x
-
Altcoin23 hours ago
How Will Elon Musk Leaving DOGE Impact Dogecoin Price?
-
Ethereum21 hours ago
Why A Massive Drop To $1,400 Could Rock The Underperformer
-
Ethereum23 hours ago
Whales Dump 760,000 Ethereum in Two Weeks — Is More Selling Ahead?
-
Altcoin20 hours ago
First Digital Trust Denies Justin Sun’s Allegations, Claims Full Solvency
-
Altcoin21 hours ago
Will Cardano Price Bounce Back to $0.70 or Crash to $0.60?
-
Market12 hours ago
XRP Price Under Pressure—New Lows Signal More Trouble Ahead
-
Altcoin12 hours ago
Analyst Forecasts 250% Dogecoin Price Rally If This Level Holds
✓ Share: