“EXPANDING EMPIRE”
The dinner got here because the US Senate is pushing by laws to extra clearly regulate cryptocurrencies, a long-sought request of the trade, and as Trump expands his enterprise community into the sector.
Senators on Monday superior a landmark Invoice referred to as the GENIUS Act that proposes a regulatory framework for stablecoins – a sort of crypto token seen as extra predictable for traders as its worth is pegged to laborious currencies just like the greenback.
Bitcoin’s worth hit a brand new all-time excessive on Thursday, climbing above US$111,000 earlier than falling barely.
Trump’s newfound enthusiasm for digital currencies has expanded into a number of ventures led primarily by his eldest sons.
Their rising portfolio contains investments in Binance, a serious crypto trade whose founder seeks a presidential pardon to re-enter the US market.
This funding flows by World Liberty Monetary, a Trump family-backed enterprise launched final September with important Mideast offers.
The corporate’s founding workforce contains Donald Jr and Eric Trump alongside Zach Witkoff, son of Trump’s diplomatic adviser.
President Trump has taken concrete steps to cut back regulatory obstacles, together with an govt order establishing a “Strategic Bitcoin Reserve” for presidency holdings of the main digital foreign money.
