The TRUMP memecoin, originally launched on the Solana blockchain on January 18 with a total supply of 1 billion tokens, is expanding to the TRON blockchain. The token currently has a circulating market capitalization of $1.718 billion and a fully diluted valuation of $8.59 billion. This move is facilitated by LayerZero technology, enabling seamless cross-chain transactions to TRON, which is noted as the most transacted blockchain in the crypto space. The expansion places TRUMP alongside other popular memecoins like WIF and PEPE on the TRON network, which is led by Justin Sun. The memecoin experienced a price drop from $74 to $8.59 prior to this expansion, indicating recent volatility in its market performance.

Financial records released in a New York civil-fraud lawsuit show that Donald Trump’s personal cash reserves shrank to roughly $50 million in 2018, far below the image of a cash-rich empire he projected while seeking a return to the White House. The documents, filed during 2023 proceedings in which a judge ordered the former president to pay $355 million plus interest for exaggerating his net worth, depict an enterprise burdened by sluggish real-estate assets, maturing debt and drying television income.

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Two separate Capitol Hill hearings on Wednesday were derailed by sharp partisan exchanges involving high-profile allies of former President Donald Trump.

At a House Foreign Affairs Committee session reviewing the U.S. Agency for Global Media, senior adviser Kari Lake rebuffed persistent questioning from Rep. Greg Stanton, who asked whether she would finally concede her 2022 loss in Arizona’s gubernatorial race. Lake instead cited an unverified rumour that Stanton once had a “gay lover,” leading the Democrat to demand the remark be struck from the record. The quarrel eclipsed substantive discussion of Lake’s plan to eliminate roughly 1,400 positions—about 85 percent of the agency’s workforce—as part of a sweeping overhaul of Voice of America and its sister outlets.

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On-chain monitoring services recorded a transfer of about 3.53 million TRUMP tokens, valued at roughly US$32.8 million, from a wallet associated with the TRUMP token development team to Binance on 21 June.

The latest transaction is the fourth large deposit from team-linked wallets since 28 April. In total, 12.54 million TRUMP tokens—worth approximately US$150.7 million at the time of each transfer—have been moved to major centralized venues, including Binance, OKX, Bybit and Coinbase.

Repeated deposits by project insiders can precede increased market liquidity and potential selling pressure, although no subsequent sales have been confirmed on the destination exchanges.

U.S. President Donald Trump reported over $630 million in income for the year 2024, according to a public financial disclosure filed in June 2025. The income sources include cryptocurrency holdings and token sales, golf clubs, licensing fees, and other business ventures. Notably, Trump earned more than $57 million from token sales related to a crypto venture he and his sons launched in 2024.

His financial disclosure also revealed assets valued at approximately $1.6 billion. The report highlights the complexity of Trump's business empire, naming hundreds of distinct LLCs. Cryptocurrency was identified as his second-largest income source last year, contributing tens of millions of dollars. Trump's earnings also include revenue from Trump-branded products promoted during his campaign. The financial disclosure provides insight into the vast and diverse portfolio maintained by the president through his business activities.

Over the past nine months, beginning slightly before the 2024 US presidential election, former President Donald Trump has significantly expanded his involvement in the cryptocurrency sector. Forbes reports that Trump has generated an estimated $1 billion from various crypto ventures, including new coins and related enterprises. His digital asset holdings have reportedly surpassed $1.2 billion, outpacing previous valuations. Trump Media, the media company associated with him, now holds $2.3 billion in Bitcoin buying power following a recent capital raise.

Additionally, World Liberty Financial, a decentralized finance project linked to the Trump family, announced plans to acquire a substantial position in the $TRUMP memecoin as part of its treasury strategy. The $TRUMP token faces a $520 million unlock event, coinciding with President Trump's endorsement of a sentiment tracking theory. Trump has also hosted private dinners with top crypto investors at his golf club, further consolidating his crypto influence. Meanwhile, Democrats are increasingly engaging with the cryptocurrency industry despite internal divisions related to Trump, and have criticized the White House for what they describe as corruption tied to the president's crypto activities.

The Trump administration has taken a hard stance on Chinese nationals by expelling Chinese students from American universities, citing security risks. However, this position contrasts with the administration's welcoming of a Chinese technology executive linked to the Chinese Communist Party (CCP), who gained access to the White House after purchasing $3.7 million worth of President Trump's meme cryptocurrency. This individual, identified as entrepreneur Justin Sun, reportedly invested over $40 million in Trump-related digital coins and received VIP treatment at a White House gala for crypto purchasers. The situation has raised questions about potential conflicts of interest and the integrity of the administration's policies toward China. Despite previously dismissing cryptocurrency as a scam, Trump and his family have become heavily involved in the digital currency market in recent months, launching new ventures and coins that have generated revenue for the president. Critics argue that these dealings damage the reputation of the cryptocurrency industry and highlight inconsistencies in the administration's approach to China, especially given the imposition of a 145% tariff on Chinese goods earlier in 2025.

World Liberty Financial (WLFI), a company partly owned by Donald Trump's sons, has announced plans to acquire a substantial position in the TRUMP meme coin for its long-term treasury. This development follows a cease-and-desist letter WLFI sent to Fight Fight Fight, the organization behind the TRUMP memecoin wallet project, leading to the cancellation of the wallet and ending a rumored partnership with Magic Eden. Eric Trump confirmed the alignment between the TRUMP meme coin team and WLFI, emphasizing the firm's commitment to supporting the token despite discontinuing the wallet initiative. Meanwhile, WLFI's advisor recently placed a high-leverage short position against the TRUMP token on Hyperliquid, with a liquidation price set at $12.49. The TRUMP meme coin's price showed minimal reaction to these developments.

Donald Trump, following his return to the White House, has sparked renewed interest in the cryptocurrency market amid expectations of looser regulatory policies. Trump and his wife, Melania, have actively engaged with the crypto space, including launching their own memecoin. Despite the rally in cryptocurrencies associated with his presidency, experts caution that risks remain for average investors. Trump has been posting frequently on social media platforms, including Truth Social, where his messages have generated significant attention. The renewed focus on cryptocurrencies coincides with Trump's unique position as the first U.S. president to openly embrace digital assets.

Representative Jamie Raskin, the top House Democrat, has initiated an investigation into a private dinner hosted by former President Donald Trump for prominent investors in his meme cryptocurrency, $TRUMP. The probe seeks to obtain the guest list from the event, which reportedly included over 220 mostly foreign buyers who paid millions to attend. Raskin has expressed concerns about the ethical implications of Trump profiting from the meme coin while in office and the potential for foreign governments to use cryptocurrency investments to curry favor with the former president. The investigation highlights scrutiny over Trump's financial dealings related to the meme coin and the involvement of international investors.

President Donald Trump and his family have generated approximately $320 million in recent months, primarily through the launch of the $TRUMP cryptocurrency and related events. Trump's net worth has reportedly doubled to over $5.4 billion since his reelection, with Forbes estimating his fortune at $5.1 billion as of March.

The Trump Organization has secured major overseas deals, including a $1.5 billion golf complex in Vietnam and a $5.5 billion resort near Doha, Qatar. In Washington, the family opened the Executive Branch club, charging a $500,000 membership fee. At a recent dinner at Trump's Virginia golf club, 220 investors in $TRUMP attended, with access tied to investment amounts. Chinese billionaire Justin Sun, who invested over $40 million in $TRUMP, attended a VIP reception. The SEC lawsuit against Sun was put on hold after Trump's return to office.

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Former President Donald Trump has issued a full and unconditional pardon to a public employee who was convicted of accepting $75,000 in bribes on video. The decision has drawn criticism from political figures, including Senator Mark Warner, who condemned the pardon as undeserved and disrespectful to taxpayers and honest workers. The case has raised concerns about the criteria for presidential pardons, with some observers alleging that pardons may be influenced by financial transactions involving Trump-related cryptocurrency. The pardon has sparked debate over the integrity of the pardon process and the message it sends regarding corruption and accountability.

A new book, 'Original Sin: President Biden’s Decline, Its Cover-Up, and His Disastrous Choice to Run Again,' co-authored by CNN anchor Jake Tapper and Axios reporter Alex Thompson, alleges that during Joe Biden's presidency, a small group of unelected advisers and family members, referred to as the 'Politburo,' effectively ran the White House as Biden's health declined.

According to the book and interviews with former aides, the core decision-makers included Mike Donilon, Steve Ricchetti, Bruce Reed, Jill Biden, and Hunter Biden, with Ron Klain and Annie Tomasini also playing significant roles at times. The book claims these individuals made key decisions, sometimes without consulting cabinet officials such as Treasury Secretary Janet Yellen. Mike Donilon reportedly received a $4 million salary during the 2024 campaign.

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Under President Donald Trump's administration, the United States has positioned itself as a leading region for blockchain and cryptocurrency development. Trump has expressed a commitment to maintaining this status, pledging to do everything possible to support the industry. The administration promises to apply "the highest regulatory standards" to digital assets, signaling a proactive regulatory approach. While public sentiment among cryptocurrency advocates remains optimistic about securing supportive legislation, some prominent industry figures privately criticize Trump's crypto ventures, raising concerns about the intertwining of the industry's fate with its political benefactor. Additionally, ethical concerns have been raised due to Trump's extensive business interests in the cryptocurrency sector. Overall, the crypto industry is regarded as one of the major beneficiaries of Trump's second presidential term, though opinions on increased government involvement in blockchain regulation vary.

A recent event involving former President Donald Trump and a memecoin-themed dinner has drawn scrutiny and criticism. Thirty-five members of the U.S. House of Representatives have requested the Department of Justice to investigate the dinner for potential violations of federal bribery laws and the Constitution's emoluments clause. The event, which promised attendees a dinner with Trump in exchange for purchasing the memecoin, reportedly failed to deliver on this promise, with some participants expressing disappointment over the quality of the event and the lack of direct interaction with Trump.

Analysis indicates that 19 of the 25 largest holders of the Trump memecoin are foreign nationals, raising concerns about the implications of their access to Trump. Additionally, many VIP attendees have sold or moved their coins following the event. Critics have characterized the financial contributions associated with the memecoin as a form of bribery, especially given the involvement of corporate executives and foreign officials.

Lamar Odom, former NBA player and ex-husband of a Kardashian, attended a private dinner hosted by President Donald Trump for top investors in his meme cryptocurrency. The exclusive event reportedly drew around 220 attendees, including high-profile figures who paid millions to participate. Odom's presence at the gala was met with boos and shouts of "shame" from some attendees and protesters. The dinner, covered by multiple news outlets including NBC News and Fox News, highlighted ongoing efforts by the Trump administration to promote its cryptocurrency initiative amid public scrutiny and controversy.

Steve Witkoff is serving as a Middle East envoy for former President Donald Trump, traveling internationally to pursue diplomatic deals. Concurrently, his son Zach Witkoff is actively promoting foreign business opportunities linked to a cryptocurrency venture associated with the Trump family. This dual involvement highlights the Trump administration's expansion into various sectors, including licensing, hospitality, firearms, retail, and particularly cryptocurrency. During Donald Trump's first term, his sons Don Jr. and Eric Trump faced challenges in launching new business ventures but have since identified multiple opportunities across diverse industries. The parallel activities of Steve and Zach Witkoff underscore the intertwining of diplomatic and commercial interests involving the Trump family.

Representative Maxine Waters introduced the "Stop TRUMP in Crypto Act" on May 22, 2025, just hours before former President Donald Trump’s private dinner with holders of his meme cryptocurrency. The proposed legislation aims to prohibit the president, vice president, members of Congress, and their immediate families from profiting financially from digital assets while holding office. The bill specifically targets the ability of elected officials to own a controlling proportion of digital assets that would allow unilateral changes. Concurrently, Senate Minority Leader Chuck Schumer, along with Senators Elizabeth Warren and Jeff Merkley, announced plans to amend the GENIUS Act to prevent presidents from profiting off stablecoins, with a focus on Trump’s connections to World Liberty Financial’s USD1 stablecoin.

The GENIUS Act, which has recently advanced in the Senate, seeks to establish a comprehensive federal regulatory framework for stablecoins, including licensing issuers, enforcing 100% reserves, and creating clear U.S. stablecoin rules. The stablecoin market currently holds a capitalization of approximately $230 billion, with major banks such as JPMorgan Chase and Citi exploring joint stablecoin issuance. These legislative efforts reflect heightened political scrutiny on cryptocurrency involvement by elected officials and aim to address ethical concerns surrounding digital asset profits in public office.

White House Press Secretary Karoline Leavitt addressed questions regarding a dinner event hosted by President Donald Trump for top holders of the TRUMP coin. Leavitt emphasized that the president is attending the dinner in his personal capacity and is not profiting from the presidency. She stated that Trump is abiding by conflict of interest laws and described any suggestion that he is financially benefiting from his position as "absurd." Leavitt highlighted Trump's prior success before assuming office and reiterated that the White House rejects claims of presidential profiteering.

World Liberty Financial, a firm backed by former President Donald Trump, has purchased 636,961 $B tokens, investing approximately $25,011 to support the BUILDon project, a memecoin ecosystem on the Binance Smart Chain. Following this announcement, the $B token experienced a rapid price surge, increasing by 500% within hours. The memecoin sector has seen notable gains recently, with $B leading with an 884% increase over the week. Other memecoins such as MOONPIG, GOG, and COOKIE have also posted substantial daily gains ranging from 37.5% to 144%.

Binance insiders have been quietly accumulating memecoins, including $B, with some wallets achieving up to 385 times growth. Despite the recent rally, some cryptocurrencies like Official Trump ($TRUMP) have declined by over 12%. The memecoin market's strong inflows have raised questions about the potential return of a memecoin supercycle.

The TRUMP memecoin, originally launched on the Solana blockchain on January 18 with a total supply of 1 billion tokens, is expanding to the TRON blockchain. The token currently has a circulating market capitalization of $1.718 billion and a fully diluted valuation of $8.59 billion. This move is facilitated by LayerZero technology, enabling seamless cross-chain transactions to TRON, which is noted as the most transacted blockchain in the crypto space. The expansion places TRUMP alongside other popular memecoins like WIF and PEPE on the TRON network, which is led by Justin Sun. The memecoin experienced a price drop from $74 to $8.59 prior to this expansion, indicating recent volatility in its market performance.

Financial records released in a New York civil-fraud lawsuit show that Donald Trump’s personal cash reserves shrank to roughly $50 million in 2018, far below the image of a cash-rich empire he projected while seeking a return to the White House. The documents, filed during 2023 proceedings in which a judge ordered the former president to pay $355 million plus interest for exaggerating his net worth, depict an enterprise burdened by sluggish real-estate assets, maturing debt and drying television income.

Read more

Two separate Capitol Hill hearings on Wednesday were derailed by sharp partisan exchanges involving high-profile allies of former President Donald Trump.

At a House Foreign Affairs Committee session reviewing the U.S. Agency for Global Media, senior adviser Kari Lake rebuffed persistent questioning from Rep. Greg Stanton, who asked whether she would finally concede her 2022 loss in Arizona’s gubernatorial race. Lake instead cited an unverified rumour that Stanton once had a “gay lover,” leading the Democrat to demand the remark be struck from the record. The quarrel eclipsed substantive discussion of Lake’s plan to eliminate roughly 1,400 positions—about 85 percent of the agency’s workforce—as part of a sweeping overhaul of Voice of America and its sister outlets.

Read more

On-chain monitoring services recorded a transfer of about 3.53 million TRUMP tokens, valued at roughly US$32.8 million, from a wallet associated with the TRUMP token development team to Binance on 21 June.

The latest transaction is the fourth large deposit from team-linked wallets since 28 April. In total, 12.54 million TRUMP tokens—worth approximately US$150.7 million at the time of each transfer—have been moved to major centralized venues, including Binance, OKX, Bybit and Coinbase.

Repeated deposits by project insiders can precede increased market liquidity and potential selling pressure, although no subsequent sales have been confirmed on the destination exchanges.

U.S. President Donald Trump reported over $630 million in income for the year 2024, according to a public financial disclosure filed in June 2025. The income sources include cryptocurrency holdings and token sales, golf clubs, licensing fees, and other business ventures. Notably, Trump earned more than $57 million from token sales related to a crypto venture he and his sons launched in 2024.

His financial disclosure also revealed assets valued at approximately $1.6 billion. The report highlights the complexity of Trump's business empire, naming hundreds of distinct LLCs. Cryptocurrency was identified as his second-largest income source last year, contributing tens of millions of dollars. Trump's earnings also include revenue from Trump-branded products promoted during his campaign. The financial disclosure provides insight into the vast and diverse portfolio maintained by the president through his business activities.

Over the past nine months, beginning slightly before the 2024 US presidential election, former President Donald Trump has significantly expanded his involvement in the cryptocurrency sector. Forbes reports that Trump has generated an estimated $1 billion from various crypto ventures, including new coins and related enterprises. His digital asset holdings have reportedly surpassed $1.2 billion, outpacing previous valuations. Trump Media, the media company associated with him, now holds $2.3 billion in Bitcoin buying power following a recent capital raise.

Additionally, World Liberty Financial, a decentralized finance project linked to the Trump family, announced plans to acquire a substantial position in the $TRUMP memecoin as part of its treasury strategy. The $TRUMP token faces a $520 million unlock event, coinciding with President Trump's endorsement of a sentiment tracking theory. Trump has also hosted private dinners with top crypto investors at his golf club, further consolidating his crypto influence. Meanwhile, Democrats are increasingly engaging with the cryptocurrency industry despite internal divisions related to Trump, and have criticized the White House for what they describe as corruption tied to the president's crypto activities.

The Trump administration has taken a hard stance on Chinese nationals by expelling Chinese students from American universities, citing security risks. However, this position contrasts with the administration's welcoming of a Chinese technology executive linked to the Chinese Communist Party (CCP), who gained access to the White House after purchasing $3.7 million worth of President Trump's meme cryptocurrency. This individual, identified as entrepreneur Justin Sun, reportedly invested over $40 million in Trump-related digital coins and received VIP treatment at a White House gala for crypto purchasers. The situation has raised questions about potential conflicts of interest and the integrity of the administration's policies toward China. Despite previously dismissing cryptocurrency as a scam, Trump and his family have become heavily involved in the digital currency market in recent months, launching new ventures and coins that have generated revenue for the president. Critics argue that these dealings damage the reputation of the cryptocurrency industry and highlight inconsistencies in the administration's approach to China, especially given the imposition of a 145% tariff on Chinese goods earlier in 2025.

World Liberty Financial (WLFI), a company partly owned by Donald Trump's sons, has announced plans to acquire a substantial position in the TRUMP meme coin for its long-term treasury. This development follows a cease-and-desist letter WLFI sent to Fight Fight Fight, the organization behind the TRUMP memecoin wallet project, leading to the cancellation of the wallet and ending a rumored partnership with Magic Eden. Eric Trump confirmed the alignment between the TRUMP meme coin team and WLFI, emphasizing the firm's commitment to supporting the token despite discontinuing the wallet initiative. Meanwhile, WLFI's advisor recently placed a high-leverage short position against the TRUMP token on Hyperliquid, with a liquidation price set at $12.49. The TRUMP meme coin's price showed minimal reaction to these developments.

Donald Trump, following his return to the White House, has sparked renewed interest in the cryptocurrency market amid expectations of looser regulatory policies. Trump and his wife, Melania, have actively engaged with the crypto space, including launching their own memecoin. Despite the rally in cryptocurrencies associated with his presidency, experts caution that risks remain for average investors. Trump has been posting frequently on social media platforms, including Truth Social, where his messages have generated significant attention. The renewed focus on cryptocurrencies coincides with Trump's unique position as the first U.S. president to openly embrace digital assets.

Representative Jamie Raskin, the top House Democrat, has initiated an investigation into a private dinner hosted by former President Donald Trump for prominent investors in his meme cryptocurrency, $TRUMP. The probe seeks to obtain the guest list from the event, which reportedly included over 220 mostly foreign buyers who paid millions to attend. Raskin has expressed concerns about the ethical implications of Trump profiting from the meme coin while in office and the potential for foreign governments to use cryptocurrency investments to curry favor with the former president. The investigation highlights scrutiny over Trump's financial dealings related to the meme coin and the involvement of international investors.

President Donald Trump and his family have generated approximately $320 million in recent months, primarily through the launch of the $TRUMP cryptocurrency and related events. Trump's net worth has reportedly doubled to over $5.4 billion since his reelection, with Forbes estimating his fortune at $5.1 billion as of March.

The Trump Organization has secured major overseas deals, including a $1.5 billion golf complex in Vietnam and a $5.5 billion resort near Doha, Qatar. In Washington, the family opened the Executive Branch club, charging a $500,000 membership fee. At a recent dinner at Trump's Virginia golf club, 220 investors in $TRUMP attended, with access tied to investment amounts. Chinese billionaire Justin Sun, who invested over $40 million in $TRUMP, attended a VIP reception. The SEC lawsuit against Sun was put on hold after Trump's return to office.

Read more

Former President Donald Trump has issued a full and unconditional pardon to a public employee who was convicted of accepting $75,000 in bribes on video. The decision has drawn criticism from political figures, including Senator Mark Warner, who condemned the pardon as undeserved and disrespectful to taxpayers and honest workers. The case has raised concerns about the criteria for presidential pardons, with some observers alleging that pardons may be influenced by financial transactions involving Trump-related cryptocurrency. The pardon has sparked debate over the integrity of the pardon process and the message it sends regarding corruption and accountability.

A new book, 'Original Sin: President Biden’s Decline, Its Cover-Up, and His Disastrous Choice to Run Again,' co-authored by CNN anchor Jake Tapper and Axios reporter Alex Thompson, alleges that during Joe Biden's presidency, a small group of unelected advisers and family members, referred to as the 'Politburo,' effectively ran the White House as Biden's health declined.

According to the book and interviews with former aides, the core decision-makers included Mike Donilon, Steve Ricchetti, Bruce Reed, Jill Biden, and Hunter Biden, with Ron Klain and Annie Tomasini also playing significant roles at times. The book claims these individuals made key decisions, sometimes without consulting cabinet officials such as Treasury Secretary Janet Yellen. Mike Donilon reportedly received a $4 million salary during the 2024 campaign.

Read more

Under President Donald Trump's administration, the United States has positioned itself as a leading region for blockchain and cryptocurrency development. Trump has expressed a commitment to maintaining this status, pledging to do everything possible to support the industry. The administration promises to apply "the highest regulatory standards" to digital assets, signaling a proactive regulatory approach. While public sentiment among cryptocurrency advocates remains optimistic about securing supportive legislation, some prominent industry figures privately criticize Trump's crypto ventures, raising concerns about the intertwining of the industry's fate with its political benefactor. Additionally, ethical concerns have been raised due to Trump's extensive business interests in the cryptocurrency sector. Overall, the crypto industry is regarded as one of the major beneficiaries of Trump's second presidential term, though opinions on increased government involvement in blockchain regulation vary.

A recent event involving former President Donald Trump and a memecoin-themed dinner has drawn scrutiny and criticism. Thirty-five members of the U.S. House of Representatives have requested the Department of Justice to investigate the dinner for potential violations of federal bribery laws and the Constitution's emoluments clause. The event, which promised attendees a dinner with Trump in exchange for purchasing the memecoin, reportedly failed to deliver on this promise, with some participants expressing disappointment over the quality of the event and the lack of direct interaction with Trump.

Analysis indicates that 19 of the 25 largest holders of the Trump memecoin are foreign nationals, raising concerns about the implications of their access to Trump. Additionally, many VIP attendees have sold or moved their coins following the event. Critics have characterized the financial contributions associated with the memecoin as a form of bribery, especially given the involvement of corporate executives and foreign officials.

Lamar Odom, former NBA player and ex-husband of a Kardashian, attended a private dinner hosted by President Donald Trump for top investors in his meme cryptocurrency. The exclusive event reportedly drew around 220 attendees, including high-profile figures who paid millions to participate. Odom's presence at the gala was met with boos and shouts of "shame" from some attendees and protesters. The dinner, covered by multiple news outlets including NBC News and Fox News, highlighted ongoing efforts by the Trump administration to promote its cryptocurrency initiative amid public scrutiny and controversy.

Steve Witkoff is serving as a Middle East envoy for former President Donald Trump, traveling internationally to pursue diplomatic deals. Concurrently, his son Zach Witkoff is actively promoting foreign business opportunities linked to a cryptocurrency venture associated with the Trump family. This dual involvement highlights the Trump administration's expansion into various sectors, including licensing, hospitality, firearms, retail, and particularly cryptocurrency. During Donald Trump's first term, his sons Don Jr. and Eric Trump faced challenges in launching new business ventures but have since identified multiple opportunities across diverse industries. The parallel activities of Steve and Zach Witkoff underscore the intertwining of diplomatic and commercial interests involving the Trump family.

Representative Maxine Waters introduced the "Stop TRUMP in Crypto Act" on May 22, 2025, just hours before former President Donald Trump’s private dinner with holders of his meme cryptocurrency. The proposed legislation aims to prohibit the president, vice president, members of Congress, and their immediate families from profiting financially from digital assets while holding office. The bill specifically targets the ability of elected officials to own a controlling proportion of digital assets that would allow unilateral changes. Concurrently, Senate Minority Leader Chuck Schumer, along with Senators Elizabeth Warren and Jeff Merkley, announced plans to amend the GENIUS Act to prevent presidents from profiting off stablecoins, with a focus on Trump’s connections to World Liberty Financial’s USD1 stablecoin.

The GENIUS Act, which has recently advanced in the Senate, seeks to establish a comprehensive federal regulatory framework for stablecoins, including licensing issuers, enforcing 100% reserves, and creating clear U.S. stablecoin rules. The stablecoin market currently holds a capitalization of approximately $230 billion, with major banks such as JPMorgan Chase and Citi exploring joint stablecoin issuance. These legislative efforts reflect heightened political scrutiny on cryptocurrency involvement by elected officials and aim to address ethical concerns surrounding digital asset profits in public office.

White House Press Secretary Karoline Leavitt addressed questions regarding a dinner event hosted by President Donald Trump for top holders of the TRUMP coin. Leavitt emphasized that the president is attending the dinner in his personal capacity and is not profiting from the presidency. She stated that Trump is abiding by conflict of interest laws and described any suggestion that he is financially benefiting from his position as "absurd." Leavitt highlighted Trump's prior success before assuming office and reiterated that the White House rejects claims of presidential profiteering.

World Liberty Financial, a firm backed by former President Donald Trump, has purchased 636,961 $B tokens, investing approximately $25,011 to support the BUILDon project, a memecoin ecosystem on the Binance Smart Chain. Following this announcement, the $B token experienced a rapid price surge, increasing by 500% within hours. The memecoin sector has seen notable gains recently, with $B leading with an 884% increase over the week. Other memecoins such as MOONPIG, GOG, and COOKIE have also posted substantial daily gains ranging from 37.5% to 144%.

Binance insiders have been quietly accumulating memecoins, including $B, with some wallets achieving up to 385 times growth. Despite the recent rally, some cryptocurrencies like Official Trump ($TRUMP) have declined by over 12%. The memecoin market's strong inflows have raised questions about the potential return of a memecoin supercycle.