The project has a fully diluted market capitalization of $16 billion at pre-market trading prices, making WLFI the 11th-largest token.
President Donald Trump is reportedly intensifying his pro-crypto agenda with plans to expand access to trillions from retirement funds and ease taxation for everyday crypto use. According to a June 17 report by the Financial Times, sources familiar with the matter say the President could soon issue an executive order allowing 401(k) retirement plans to […]
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Nasdaq-listed Thumzup Media said its board has authorized the company to hold up to $250 million worth of cryptocurrencies.
President Donald Trump is reportedly poised to open the $9 trillion retirement market to a range of alternative investments, including crypto, gold, and private equity. According to the Financial Times, this initiative is expected to be formalized through an executive order as early as this week. It seeks to diversify the investment options available within 401(k) plans, which have traditionally been limited to stocks and bonds. Crypto In Retirement Savings Trump’s forthcoming executive order will direct regulatory agencies to explore the necessary adjustments to facilitate the inclusion of these alternative asset classes in professionally managed retirement funds. According to insiders familiar with the plan, this shift aims to enable American workers to invest their retirement savings in a broader spectrum of opportunities, including digital assets, metals, and funds that focus on private loans and corporate takeovers. Related Reading: Bitcoin Sees Influx Of New Capital: First-Time Buyers Add 140,000 BTC This executive order marks a significant acceleration in Trump’s efforts to mainstream cryptocurrency investments. His administration has already taken steps to ease regulatory burdens, notably by reversing a Biden-era policy that discouraged the inclusion of crypto options in retirement accounts. The recent passage of three crypto-related bills by the House, which Trump has vocally supported, further underscores his commitment to bolster the digital asset industry. Higher Fees And Transparency Concerns The implications of opening the retirement market to private equity are vast. Major capital groups, including Blackstone, Apollo, and BlackRock, have expressed keen interest in gaining access to 401(k) funds, which they view as a potential source of hundreds of billions in new assets. However, the push to integrate less liquid private investments into retirement plans carries inherent risks. Higher fees and reduced transparency regarding asset valuations may pose challenges for plan administrators and investors alike. Related Reading: All 40K Remaining Bitcoin From The 80K Whale Just Moved: $4.75B In One Wallet Now Featured image from DALL-E, chart from TradingView.com
Trump's potential executive order would follow other federal agencies softening their stance in allowing crypto into retirement funds.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Ondo is a real-world asset startup with backing from World Liberty Financial, the DeFi project led by President Donald Trump's friends and family.
House Majority Leader Steve Scalise said that the next House floor vote on these crypto bills will take place on Thursday.
A proposal submitted by the WLFI team on July 9 was approved on Wednesday with 99.94% of voters in support.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A single-word reply on X from Rep. Anna Paulina Luna (R‑FL) — “Confirmed” — rocketed through the crypto markets early Wednesday, convincing a growing chorus of traders that Federal Reserve Chair Jerome Powell’s tenure is measured in days, not months. Within minutes of Luna’s affirmation that “Jerome Powell is going to be fired. Firing is imminent,” prediction‑market odds of his ouster on Polymarket leapt to 26 percent, the highest reading this year, up from 16 percent only 24 hours earlier. A White‑House‑backed search is already under way. Treasury Secretary Scott Bessent, in an on‑record Bloomberg interview, acknowledged “a formal process that’s already starting” to identify Powell’s successor, adding that “there are a lot of good candidates inside and outside the Federal Reserve.” Related Reading: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts President Donald Trump underscored the point during an impromptu press gaggle, repeating last week’s warning that “the renovations at the central bank were a fireable offense.” Those renovations — an over‑budget, $2.5 billion overhaul of the Fed’s historic Eccles Building — have become the legal pretext for dismissal, with Trump allies alleging “inefficiency” and “neglect of duty,” two of the three causes for removal spelled out in the Federal Reserve Act. Powell has asked the Fed’s inspector general to reopen its review of the project. Notably, Bill Pulte, the Federal Housing Finance Agency head and a longtime Powell critic, confirmed the rumors to his followers on X: “I heard from a very credible, bipartisan source, today, that Jerome Powell is considering resigning. This maps with both reports and also the talk in DC.” Crypto Markets Sense A Massive Bull Run The Bitcoin and crypto prices haven’t shown any reaction to the rumor yet. After piercing $123,000 on Monday, BTC is still 4.5 percent below the record high. The entire crypto market seems to be in a wait-and-see position. However, long-term, the implication could be profound for the crypto markets. “I cannot think of a more bullish catalyst for Bitcoin in the past five years than the complete and utter humiliation of Jerome Powell,” wrote macro commentator Julian Figueroa, pointing to what he called the “façade” of central‑bank independence collapsing in real time. Related Reading: Happy Ending: Crypto Hacker Returns Funds From $42 Million GMX Exploit Long‑time trader Byzantine General echoed the ambivalence: “Powell was actually a great Fed chair. But… if he resigns then it’s very likely that whoever comes next will lower rates, which is bullish for our cryptographic currencies.” Should President Trump succeed in replacing Powell with a more accommodating successor—one prepared to deliver the “three‑percentage‑point” rate cut he has publicly demanded—the Federal Reserve would likely be forced to shelve its balance‑sheet runoff precisely as Washington ramps up fresh fiscal stimulus. That synchronous pivot away from quantitative tightening would flip the liquidity regime from drain to deluge, recreating the macro backdrop that powered the crypto market’s 2020‑21 vertical ascent and positioning it for the next major bull run. At press time, the total crypto market cap stood at $3.68 trillion. Featured image created with DALL.E, chart from TradingView.com
Significant legal challenges would arise from an attempt to remove Fed chair Jerome Powell, but Polymarket bettors are warming to the idea – even if it's still a longshot.
Trump said he has spoken to members of Congress and confirmed that they will vote in favor to pass the GENIUS Act on Wednesday.
As prominent U.S. crypto insiders and Republicans in Congress push for industry unity on the House's Clarity Act, senators prepare to go their own way.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The U.S. House of Representatives will consider the stablecoin GENIUS bill and the Digital Asset Market Clarity Act.
If pro-crypto legislation passes through Congress over the coming days, "crypto will never be the same" again, Hougan said.
A recent report has found that US President Donald Trump’s official memecoin, TRUMP, had a faster listing process on crypto exchanges than the average memecoin and generated millions of dollars in gains for the platforms. Related Reading: Fibonacci Maps Dogecoin Path To $23—Is It Too Far-Fetched? Crypto Exchanges Profit From TRUMP Memecoin On Monday, news agency Reuters shared an analysis of market data and industry announcements related to the listing of the official TRUMP memecoin on some of the biggest crypto exchanges by market share. In January, President Trump surprised the crypto industry after launching his official token ahead of the start of his presidency. The cryptocurrency quickly skyrocketed to its all-time high (ATH) of $75, yielding significant profits for many early investors. However, the memecoin faced heavy backlash from the community, with several investors calling the President’s crypto venture a “big red flag.” Notably, 80% of the cryptocurrency’s supply was held by the Trump family and their partners, raising concerns over “such a high concentration of ownership”, which can allow the team behind it to “sell large amounts of it at once, collapsing the price for retail investors,” Reuters noted. The report claims that exchanges have been “major beneficiaries of Trump’s embrace of the industry,” as TRUMP has generated millions of dollars in revenue for the 10 largest exchanges reviewed by Reuters. Based on standard fee estimates compiled for the analysis, the crypto platforms allegedly made more than $172 million in trading fees since the token’s listing. Additionally, the token has “favored a small group of investors,” with 45 crypto wallets making around $1.2 billion in profits over the past six months. Nonetheless, as the token trades at 87.1% below its ATH, 712,777 wallets accumulate a collective loss of $4.3 billion, according to Bubblemaps data. Presidential Token Saw Express Listing Process According to the report, the largest exchanges, including Binance, Gate.io, Bitget, MEXC, OKX, Coinbase, Bybit, Upbit, Crypto.com, and HTX, listed Trump’s token “with unusual speed” compared to other recent prominent memecoins, despite the industry’s concerns. Reuters’ analysis showed that eight of the 10 largest crypto exchanges listed TRUMP within the first 48 hours since its launch. Coinbase listed the memecoin three days later, while Upbit added the token nearly a month later, on February 13. Meanwhile, the same 10 exchanges took significantly more to list Pepe (PEPE), Bonk (BONK), Fartcoin (FARTCOIN), and dogwifhat (WIF), the four other largest memecoins launched since 2022. Per the report, all 10 exchanges listed PEPE and BONK, while nine listed WIF, and only seven listed FARTCOIN. For comparison, all 10 exchanges took an average of 129 days to list these tokens, but only took an average of four days to list the presidential memecoin. Bitget, MEXC, and Coinbase reportedly said they listed the token quickly to “respond to overwhelming demand for the $TRUMP coin.” Gracy Chen, Bitget’s CEO, explained in a statement that “the crypto space was buzzing with the hype and, as any other token with a growing craze, it was imperative to add TRUMP.” Related Reading: Bitcoin Ignites Intraday Optimism With A Step Past $119,000 Threshold Chen told Reuters that Bitget also had concerns about the 80% supply figure but said the fact that the upcoming US president announced the coin on his social media accounts “should kind of solve the compliance issue.” “Ultimately, user trading volume, demand … overrode the so-called risky factor here,” Bidget CEO concluded. As of this writing, TRUMP trades at $9.43, a 2.6% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Aqua 1 Foundation denied a recent report connecting its founder Dave Lee to David Li, a member of disgraced market making firm Web3Port.
In an interview with CoinDesk, Zanker said he's still in good graces with the President's family despite receiving a cease-and-desist from it just weeks ago, and also teased an upcoming $TRUMP mobile game.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
ETH has surpassed the $3,000 level for the first time in five months as new bitcoin all-time highs breathe fresh life into the crypto market.
Jonathan Gould, a former top official at the agency and ex-chief legal officer for Bitfury, is set to run the OCC as Trump's pro-crypto policies rise into place.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
This comes after Trump Media said in April that it is exploring the possibility of a utility token within a Truth digital wallet.
BTC jumped within 30 minutes of Trump’s rate-cut post as analysts weighed inflation risks and the impact of a potential 300 bp cut on asset prices. (157 characters)
Trump Media & Technology Group (TMTG) quietly lodged an S-1 with the US Securities and Exchange Commission late on July 8, seeking approval for the “Truth Social Crypto Blue Chip ETF.” Despite a swirl of social-media posts placing the paperwork in early June, the SEC’s time-stamp confirms the filing date as July 8. The prospectus sketches a five-coin portfolio weighted approximately 70 percent to bitcoin, 15 percent to ether, 8 percent to solana, 5 percent to Cronos and 2 percent to XRP, making it the first Trump-branded product to diversify beyond the two largest digital assets. The trust, structured as a Nevada business trust and sponsored by boutique issuer Yorkville America Digital, aims to list its shares on NYSE Arca. Foris DAX Trust — the US institutional arm of Crypto.com — is named digital-asset custodian, while authorized participants will create and redeem blocks of 10,000 shares in kind or for cash, subject to NYSE rule changes. The prospectus also discloses that staking rewards on ether, solana and cronos may be passed through to the fund, a design choice that would set a precedent among US spot-crypto ETFs. Related Reading: Pundit Explains Why XRP Stands To Gain Big From Ripple’s RLUSD Analyst Eric Balchunas of Bloomberg distilled the filing in two succinct posts on X: “New filing for the Truth Social Crypto Blue Chip ETF, which will be a spot crypto basket holding Bitcoin, Ether, Solana, XRP and Cronos,” he wrote; in a follow-up, he reproduced the pivotal language: “the Trust’s allocation… is initially expected to approximate 70% bitcoin, 15% ether, 8% SOL, 5% CRO and 2% XRP.” Those percentages now serve as the market’s working model for how the Trump universe ranks crypto’s ‘blue chips.’ Why Solana, Cronos And XRP? Overall, the allocation may serve as an implicit ranking of the top five crypto assets as viewed through the lens of Trump’s inner circle. Binance top trader by PnL Nachi (@alphawifhat) commented via X: “I think it’s useful to look at the allocation ratio of the Truth Social Crypto ETF […] I see this as an indication of how Trump’s crypto team looks at the top crypto assets and what are the top 5 they want to value the most. This could be a catalyst to pump CRO as it’s a dark horse.” Solana’s climb to an 8 percent weight is more than a momentum trade. CME Group this spring announced cash-settled Solana futures pending CFTC sign-off, extending the same institutional rails that helped bitcoin and ether graduate into ETF form. Notably, the SEC has set a July deadline for spot Solana ETF refilings, indicating a potential approval before the October 2 deadline. Related Reading: XRP Set To Shock The Crypto Market With 30% Share, Analyst Predicts Cronos leaps over better-capitalized tokens because Crypto.com is literally powering Trump’s ETFs. “We are proud to partner with Trump Media and Yorkville… including the first-of-its-kind basket of tokens featuring CRO,” Crypto.com co-founder Kris Marszalek said in March when the multi-year, roughly $2.7 billion partnership was unveiled. Under the agreement, Crypto.com supplies custody, liquidity and back-end order routing for all Truth-branded funds. XRP brings up the rear at two percent, reflecting both its renewed legitimacy and its still-nascent institutional plumbing. On June 27, Ripple Labs announced that it will withdraw its cross appeal against the SEC. The token’s modest two-percent slice is politicized as much as it is financial. In early March a staffer from Ballard Partners—the K-Street shop that counts Ripple as a client—slipped Donald Trump draft language for a Truth Social post urging that XRP, Solana and Cardano be placed in a national “Crypto Strategic Reserve.” Trump hit “post” and only later discovered the Ripple connection; insiders told Politico he “was furious and felt like he’d been used.” Despite that, the inclusion of XRP still shows Trump’s ties with Ripple. At press time, XRP traded at $2.33. Featured image created with DALL.E, chart from TradingView.com
Jerome Powell’s cautious rate policy sparks fierce criticism and succession talks, putting his Fed Chair tenure under unprecedented scrutiny.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The "Truth Social Crypto Blue Chip ETF" will primarily consist of BTC, ETH, SOL, XRP, and CRO.