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Trump’s Profit Engine: Funds, Stocks and a Crypto Empire
politics7 days ago

Trump’s Profit Engine: Funds, Stocks and a Crypto Empire

Democrats allege a $1.8 billion taxpayer-funded 'anti-weaponization' fund tied to Trump allies signals a new level of political enrichment, while Trump’s finances—massive stock trades and a crypto-linked World Liberty Financial empire—highlight a growing pattern of conflicts of interest; the Trump Organization says outside advisers control investments, and critics point to the STOCK Act disclosures as evidence that wealth and power are becoming intertwined with the presidency.

via Axios|
#conflicts-of-interest#crypto#politics
politics12 days ago

Banks, Warren Align on Crypto Bill Ahead of Senate Vote

A high-stakes fight over a landmark crypto-regulation bill is reshaping Senate alliances: Wall Street banks back a Tillis–Alsobrooks compromise to curb crypto-yield rewards and stem potential deposits flight, while Elizabeth Warren and progressive Democrats push for tougher stablecoin restrictions. With most Republicans reluctant to concede, the banking lobby is pushing for more changes as the bill advances through the Senate Banking Committee, signaling a rare convergence between Warren and banks against some GOP allies and crypto interests.

via Politico|
#crypto#elizabeth-warren#politics
politics14 days ago

Trump Sign‑Off Hinge Pushes Senate Crypto Ethics Talks to a Crossroad

Democrats are pressing to add ethics provisions to a landmark cryptocurrency bill to curb government officials’ dealings with digital assets, and are negotiating with a White House adviser while seeking Trump’s sign‑off before a Thursday Banking Committee markup; Republicans have publicly mocked the process as a circus, though some say progress is possible if the president approves the deal. The live updates also cover DOJ‑related scrutiny of payments to agents under acting AG Todd Blanche, debates over Secret Service funding tied to Trump’s ballroom plans, and a House Oversight hearing with Epstein victims, along with other Capitol Hill developments shaping the week.

via Politico|
#congress#crypto#ethics
Labor unions warn crypto bill could endanger workers' retirement amid Senate vote
business14 days ago

Labor unions warn crypto bill could endanger workers' retirement amid Senate vote

Labor unions including AFL-CIO and SEIU press Congress to oppose a rules-based crypto bill, warning it could jeopardize workers' retirement plans. As the Senate Banking Committee plans to amend and vote on the measure, concerns over safety and ethics persist, with Democrats and Republicans negotiating while the banking industry opposes a stablecoin provision—leaving the bill's fate uncertain.

via CNBC|
#business#crypto#regulation
Trump Media posts $405M Q1 loss as it bets on fusion energy and prediction markets
business17 days ago

Trump Media posts $405M Q1 loss as it bets on fusion energy and prediction markets

Trump Media and Technology Group reported more than $405 million in first-quarter net losses on just over $871,000 in net sales, attributing the red ink to unrealized losses on digital assets, pledged assets, accreted interest and stock-based compensation; the company pointed to $2.2 billion in total assets and a fourth consecutive quarter of positive operating cash flow. It has replaced its CEO, is pursuing a more than $6 billion all-stock merger with fusion-energy firm TAE Technologies, plans to offer prediction markets on Truth Social, and is considering spinning off Truth Social as the stock trades around $9.

via The Independent|
#business#crypto#donald-trump
Banks warn Clarity Act tweak could enable stablecoin evasion
business17 days ago

Banks warn Clarity Act tweak could enable stablecoin evasion

A coalition of major banking trade groups criticizes a compromise in the Clarity Act that would ban stablecoin yield but allow certain rewards tied to balances or governance, arguing those exemptions could let crypto firms evade the prohibition. They urge tightening the language before a Senate Banking Committee vote, as lawmakers rush to advance digital-asset legislation amid looming elections and ongoing industry lobbying.

via Decrypt|
#banking#business#clarity-act
a16z Crypto closes $2.2B fifth fund, promotes CTO to general partner
venture-capital21 days ago

a16z Crypto closes $2.2B fifth fund, promotes CTO to general partner

Andreessen Horowitz’s crypto arm a16z crypto has raised $2.2 billion for its fifth fund and promoted CTO Eddy Lazzarin to general partner, keeping Fund 5 crypto-focused across all stages. The move follows a shift toward real adoption and on-chain infrastructure, with the firm noting smaller fund size (vs. the $4.5B fourth fund) to align with faster fundraising cycles and evolving crypto trends, while highlighting themes like stablecoins and clearer regulation.

via The Block|
#crypto#new-vc-funds#startups
PayPal reshapes into three business lines with leadership overhaul to accelerate growth
business26 days ago

PayPal reshapes into three business lines with leadership overhaul to accelerate growth

PayPal announced a strategic reorganization into three operating units—Checkout Solutions & PayPal; Consumer Financial Services & Venmo; and Payment Services & Crypto—aimed at speeding growth and simplifying decision-making, alongside leadership changes (Frank Keller as President of Checkout Solutions & PayPal; Alexis Sowa and Jeff Pomeroy as interim leads for the other two units; Antonio Lucio as Chief Marketing & Corporate Affairs Officer; Anshu Bhardwaj as Chief AI Transformation & Simplification Officer). Departures include Diego Scotti and Michelle Gill. More details will be shared on the May 5 earnings call.

via PayPal Newsroom|
#business#crypto#leadership
politics1 month ago

Trump’s Memecoin Momentum Fades Ahead of Mar-a-Lago Conference

Trump’s $TRUMP memecoin has fallen more than 95% from its January 2025 high, and a Mar-a-Lago investor dinner this weekend is drawing far less trading than last year’s event. Where the 2025 run-up saw about $12.9 billion in token trading, this year’s activity sits around $1.4 billion. Critics call the venture a self-enriching scheme and ethics watchdogs are watching for conflicts of interest as Senate Democrats push for stronger guardrails. The Mar-a-Lago lineup includes crypto executives plus Mike Tyson and Tony Robbins; Trump will speak at the luncheon and is expected to be in Washington later for the White House Correspondents’ Dinner.

via Politico|
#crypto#ethics#mar-a-lago