Coin Market

Senators press regulators on Trump’s WLFI stablecoin

Published

6 days ago

March 28, 2025

Five Democratic lawmakers in the US Senate have called on leadership at regulatory agencies to consider the potential conflicts of interest from a stablecoin launched by World Liberty Financial (WLFI), the crypto firm backed by US President Donald Trump’s family.

In a March 28 letter from the US Senate Banking Committee, Massachusetts Senator Elizabeth Warren and four other Democrats asked the Federal Reserve’s committee chair on supervision and regulation, Michelle Bowman, and acting comptroller of the currency, Rodney Hood, how they intended to regulate WLFI and its stablecoin, USD1.

March 28 letter from five Democratic senators to OCC, Fed leadership. Source: US Senate Banking Committee

The letter came as members of Congress are considering legislation to regulate stablecoins through the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act. The bill, if signed into law, would essentially allow the Office of the Comptroller of the Currency (OCC) and Federal Reserve to oversee stablecoin regulation, including for issuers like WLFI and its USD1 coin.

Trump also signed an executive order in February attempting to have all federal agencies — purportedly including the OCC — “regularly consult with and coordinate policies and priorities” with White House officials, giving the US president unprecedented control.

“President Trump’s involvement in this venture, as he strips financial regulators of their independence and Congress simultaneously considers stablecoin legislation, presents an extraordinary conflict of interest that could create unprecedented risks to our financial system and to the integrity of decisions made by the [Fed and OCC],” said the letter, adding:

“The launch of a stablecoin directly tied to a sitting President who stands to benefit financially from the stablecoin’s success presents unprecedented risks to our financial system.”

Since World Liberty launched in September 2024 — months before the US election and Trump’s inauguration — many of the firm’s goals have been shrouded in secrecy. The project’s website notes that Trump and some of his family members control 60% of the company’s equity interests.

As of March 14, World Liberty had completed two public token sales, netting the company a combined $550 million. On March 24, the project confirmed launching its first stablecoin on the BNB Chain and Ethereum. The president’s son, Donald Trump Jr., also pitched USD1 from the DC Blockchain Summit on March 26 with three of WLFI’s co-founders.

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Coin Market

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

59 minutes ago

April 3, 2025

Binance co-founder Changpeng “CZ” Zhao donated over half a million dollars worth of crypto to the earthquake disaster relief effort in Thailand and Myanmar, in another testament to the growing utility of blockchain-based emergency charity efforts.

Zhao donated 1,000 BNB (BNB) tokens worth almost $600,000 to the disaster relief funds for the region on March 3, blockchain data shows.

Zhao donates 1,000 BNB. Source: BscScan

“Sent 1000 BNB for the donation for Myanmar and Thailand,” wrote Zhao in an April 3 X post.

The crypto donation comes after Thailand and Myanmar were hit by a 7.7 magnitude earthquake on March 28, causing severe damage to buildings and widespread flooding.

At least 2,719 people have been confirmed dead in Myanmar and 18 in Thailand, with 76 people still unaccounted for, according to the latest figures shared by Reuters.

The $600,000 donation comes nearly a week after Zhao pledged to donate 500 BNB for the relief efforts, an initial commitment that he doubled. Cryptocurrency-based donations have emerged as a significant lifeline for the region, due to banking restrictions caused by damaged infrastructure.

Source: The Giving Block

Crypto donations exceeded $1 billion in 2024, spurred by increasing digital asset valuations and growing crypto regulatory clarity. About 16% of the donations went toward education, while 14% went toward medicine and health-related efforts.

The Giving Block has launched a crypto-based emergency relief effort for Myanmar and Thailand to raise $500,000 for the devastated region.

Source: TheGivingBlock

The organization expects crypto donations to reach $2.5 billion in 2025 on growing crypto wealth generation and increasing adoption due to a more favorable political landscape.

Crypto donations gain traction for emergency relief efforts

Zhao’s donation is a testament to the growing role of cryptocurrency in humanitarian aid, according to Anndy Lian, author and intergovernmental blockchain expert.

“Crypto donations, compared to traditional fiat contributions, offer unique advantages, especially in emergencies,” Lian told Cointelegraph, adding:

“Speed is a key factor—transactions on blockchain networks can settle in minutes, bypassing the delays of banks or intermediaries, which is critical when time saves lives.”

“In disaster-stricken areas like Myanmar or Thailand, where infrastructure might be compromised, crypto can reach recipients directly via digital wallets, no SWIFT codes or wire transfers required,” Lian explained.

Source: Anndy Lian

Lian also donated 44 BNB tokens to the relief efforts in Myanmar and Thailand, a move that was publicly praised by Zhao.

Ethereum co-founder Vitalik Buterin has been known for his crypto donations. In October, Buterin donated over $180,000 in Ether (ETH) to the biotech charity Kanro.

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Coin Market

Bitcoin gets $71K target as tariffs deal rare US business outlook slump

Published

4 hours ago

April 3, 2025

Bitcoin (BTC) faces conditions similar to the 2022 bear market bottom as US business sees “very high risk” to come.

In his latest analysis, Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, queried when the US would start printing money.

”Higher than expected” US tariffs pressure Bitcoin

Bitcoin reacted noticeably worse than US stocks after President Donald Trump announced worldwide reciprocal trade tariffs on April 2.

BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher.

Despite this, Edwards notes that US business expectations reflect the type of uncertainty seen only three times since the turn of the millennium.

“Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,” he told X followers.

An accompanying chart showed the Philadelphia Fed’s Business Outlook Survey (BOS) back under 15 for the first time since the start of 2024. Late 2022, meanwhile, was the pit of the most recent crypto bear market when BTC/USD reversed at $15,600.

Philadelphia Fed Business Outlook Survey vs. S&P 500. Source: Charles Edwards/X

In Capriole’s latest market update on March 31, Edwards acknowledged that BOS data can produce unreliable signals over market sentiment but argued that it should not be ignored.

“While no guarantee of the future outlook (this metric does have false signals) this is a data reading we have had before at very high risk zones (year 2000, 2008 and 2022), telling us to keep a very open mind,” he wrote.

“Especially if the tariff war escalates significantly beyond current expectations or corporate margins start to fall.”

For Bitcoin, a key level to watch in the tariff aftermath is $91,000, with Capriole suggesting that US macroeconomic moves would “decide the ultimate technical trend from here.”

“All else equal, a daily close above $91K would be a strong bullish reclaim signal,” the update explained alongside the weekly BTC/USD chart.

“Failing that, a dip into the $71K zone would likely see a sizable bounce.”

BTC/USD 1-day chart (screenshot). Source: Capriole Investments

BTC price focus on US liquidity trend

As Cointelegraph reported, a silver lining for crypto and risk assets could come in the form of increasing global liquidity.

In the US, the Fed has already begun to loosen tight financial policy, with bets on a return to so-called quantitative easing (QE) varying.

“How long until the Powell printer starts humming?” Edwards queried.

M2 money supply, meanwhile, is due for an “influx” — something which has historically spawned major BTC price upside.

“The BIG take-away (the most important observation) is that a big M2 influx is coming. The exact date is less important,” popular analyst Colin Talks Crypto predicted in an X thread this week.

A comparative chart hinted at a potential BTC price rebound by the start of May.

US M2 money supply vs BTC/USD chart. Source: Colin Talks Crypto/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Alabama, Minnesota lawmakers join US states pushing for Bitcoin reserves

Published

4 hours ago

April 3, 2025

Lawmakers in the US states of Minnesota and Alabama filed companion bills to identical existing bills that if passed into law, would allow each state to buy Bitcoin.

The Minnesota Bitcoin Act, or HF 2946, was introduced to the state’s House by Republican Representative Bernie Perryman on April 1, following an identical bill introduced on March 17 by GOP state Senator Jeremy Miller.

Meanwhile, on the same day in Alabama, Republican state Senator Will Barfoot introduced Senate Bill 283, while a bi-partisan group of representatives led by Republican Mike Shaw filed the identical House Bill 482, which allows for the state to invest in crypto, but essentially limits it to Bitcoin (BTC).

Twin Alabama bills don’t explicitly name Bitcoin

Minnesota’s Bitcoin Act would allow the state’s investment board to invest state assets in Bitcoin and other cryptocurrencies and permit state employees to add crypto to retirement accounts.

It would also exempt crypto gains from state income taxes and give residents the option to pay state taxes and fees with Bitcoin.

Source: Bitcoin Laws

The twin Alabama bills don’t explicitly identify Bitcoin, but would limit the state’s crypto investment into assets that have a minimum market value of $750 billion, a criterion that only Bitcoin currently meets.

26 Bitcoin reserve bills now introduced in the US

Introducing identical bills is not uncommon in the US and is typically done to speed up the bicameral legislative process so laws can pass more quickly.

Bills to create a Bitcoin reserve have been introduced in 26 US states, with Arizona currently the closest to passing a law to make one, according to data from the bill tracking website Bitcoin Laws.

Arizona currently leads in the US state Bitcoin reserve race. Source: Bitcoin Laws

Pennsylvania was one of the first US states to introduce a Bitcoin reserve bill, in November 2024. However, the initiative was reportedly eventually rejected, with similar bills also killed in Montana, North Dakota, South Dakota and Wyoming.

Montana, North Dakota, Pennsylvania, South Dakota and Wyoming are the five states thathave rejected Bitcoin reserve initiatives. Source: Bitcoin Laws

According to a March 3 report by Barron’s, “red states” like Montana have faced setbacks to the Bitcoin reserve initiatives amid political confrontations between the Democratic Party and the Republican Party.

Additional reporting by Helen Partz.

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