All posts tagged "Crypto"

A Republican lawmaker's claims about President Donald Trump's crypto investments backfired on Tuesday when the internet fact-checked her comments.

Sen. Cynthia Lummis (R-WY) defended Trump on Fox News and argued that the president had conducted his digital currency business before returning to the White House for his second term, despite reports that Trump has raked in more than $1 billion in crypto earnings since his first year in office.

"The president made his money on digital assets before he took the oath of office, so we have to make sure that people, when they are private citizens, can retain their rights to make money and use their intellectual prowess to make money in this country," Lummis said. "That's not wrong. In fact, that's kind of the great American capitalist premise."...

President Donald Trump's newest defense of his family's self-enriching cryptocurrency deals didn't go over well with MS NOW's "The Weeknight" gang on Monday evening.

"Tonight, folks, we're on the corruption watch as Donald Trump prepares to leave for Turkey aboard his brand-new Qatari-gifted jet to attend this year's NATO summit," said anchor and former GOP chairman Michael Steele, who added that Trump "continues to remake every aspect of the presidency to serve his interests."

Just hours before, for example, he said, Trump "rang the stock market's opening bell from the Oval Office, just days after his financial disclosures revealed more than 20,000 stock trades made on his behalf last year. That's a busy broker, indeed."...

One of the largest stakeholders in the Trump family's crypto venture accused the company of bilking investors.

Crypto billionaire Justin Sun alleged that World Liberty Financial grants company officials with unilateral authority over user accounts – including the power to freeze them – and an independent analysis found the value of his personal stake in the company has shriveled while he's been locked out of his account, reported NBC News.

“I have always been an ardent supporter of President Trump and his crypto friendly policy,” Sun posted Monday on X. "[However,] this is the opposite of decentralization. This is a trap door marketed as an open door. I denounce the ongoing token scandals by the bad actors at WLFI.”...

President Donald Trump had a searing response Tuesday to the banking industry, saying that banks were trying to "undermine" controversial legislation he has touted.

Trump has pushed the Guiding and Establishing National Innovation for U.S. Stablecoins, also known as the GENIUS Act. The bill seeks to create a legal framework for stablecoins, or digital assets whose value is tied to a physical asset like fiat currency or gold. It has support from the crypto industry, which considers the bill an important step toward mainstreaming digital assets.

Trump attacked banks, calling them out and claiming that if the United States doesn't act quickly to pass the cryptocurrency bill, China would benefit and make America less competitive. ...

A Donald Trump ally has plans to boost the president's memecoin after it crashed 87% with a "Billionaires Club"-themed game, according to reports on Tuesday.

Entrepreneur Bill Zanker revealed he will release the “Trump Billionaires Club” on Apple's App Store and online at the end of the month, Bloomberg reported.

In a new trailer for the mobile game, a voice similar to Trump tells players they can become billionaires and collect the memecoin. ...

President Donald Trump's once favorite daily tabloid, The New York Post, set off alarm bells Monday over his "questionable" cryptocurrency dealings that threaten a "Hunter Biden-style scandal at the White House."

Reporters Thomas Barrabi and Isabel Vincent cited experts who concluded "Donald Trump risks undercutting his presidency with a Hunter Biden-style influence-peddling scandal unless he clamps down on questionable crypto deals."

The story took aim at Trump's "latest apparent conflict of interest" involving a Chinese e-commerce firm pledging to buy up to $300 million of $TRUMP meme coins. The Post also cited another case of a Chinese billionaire investing $75 million in Trump's World Liberty Financial that lists Donald Trump Jr. and Eric Trump as top executives. ...