All articles tagged with #cryptocurrency
The U.S. Securities and Exchange Commission is expected to release an innovation exemption that would create a framework for trading tokenized versions of public company shares, signaling a possible shift toward crypto-like securities in the stock market as the administration nudges ahead with crypto-friendly rules.
Zcash, a decade-old privacy-focused token, has surged in crypto circles as investors prize its shielded transactions amid rising concerns about surveillance and data privacy; momentum comes from high-profile endorsers, institutional interest, and the launch of a US spot Zcash ETF, with ZEC rising about 50% in a month while Bitcoin remains range-bound.
Rep. Tom Kean Jr. remains off the Hill due to a personal medical issue and has not voted since March, as a broad Capitol Hill agenda unfolds with Democrats pressing to attach ethics language to a major cryptocurrency bill amid GOP pushback; the day also covers debates over a $1 billion Secret Service funding tied to Trump’s ballroom project, Warsh’s Fed Board confirmation, Luna’s possible bid for RNC chair, and backlash against Rep. Jen Kiggans for a racist remark—reflecting a busy, fractious political landscape.
Crypto investors funded a 22-foot bronze statue of Donald Trump at Trump National Doral, wrapped in gold leaf to market a meme coin called $PATRIOT, with a blessing from clergy and a phone call from the president; the promoters paid the sculptor and secured image rights to market the coin, while Trump Organization officials denied any official connection and the statue’s use sparked copyright disputes and comparisons to gold-calves in public commentary.
Coinbase posted a Q1 2026 loss of $1.49 per share on revenue of $1.41 billion, missing estimates as falling crypto prices weighed on spot trading. Transaction revenue and subscription revenue came up short of expectations, while stablecoins revenue rose to $305 million. Derivatives trading surged to about $4.2 billion in volume (up 169% year-over-year), and Coinbase captured an all-time high 8.6% market share, even as executives signaled continued volatility. The company reiterated its plan to become an “everything exchange,” highlighting growth in non‑crypto revenue and forecasting roughly $100 million in annualized revenue from Kalshi’s prediction markets. Separately, Coinbase announced a ~14% workforce reduction (~700 jobs) as part of an AI‑driven restructuring to tighten margins amid slower trading conditions.
As crypto money looms over his Ohio comeback, Sen. Sherrod Brown softens his previously hard line on cryptocurrency and signals openness on the issue, in a race heavily influenced by outside spending from crypto-linked groups like Fairshake that could shape the contest and Senate control.
Senate negotiators are set to advance a bipartisan crypto-regulation bill that would ban stablecoin rewards resembling interest, reflecting crypto lobbying power gaining traction in Washington as regulators push to mainstream finance and pass the CLARITY Act.
A POLITICO poll finds Americans skeptical of both AI and cryptocurrency even as pro-AI and pro-crypto groups pour tens of millions into competitive 2026 races and lobbying. About 45% say investing in crypto isn’t worth the risk and 44% say AI is developing too quickly; two-thirds want federal AI rules, and nearly half trust traditional banks more than crypto. Leading the Future has raised over $75 million and Fairshake around $28 million to back candidates, signaling a new era of industry-driven spending that could face voter pushback if perceived to overwhelm politics.
A 15-foot gold statue of President Donald Trump, commissioned by a cryptocurrency group, was installed at Trump National Doral ahead of the PGA Tour's Cadillac Championship; moved from Ohio after a copyright dispute, the statue overlooks the course as the event returns, with a possible presidential appearance not confirmed.
Forbes details that Eric Trump’s bitcoin-related business has struggled or failed to gain traction, highlighting fundraising issues, credibility concerns, and market headwinds that undermine the venture’s prospects and real-world impact.
Democrats are pushing to attach an ethics provision to a sweeping crypto bill to curb how executive branch officials use digital assets, leveraging scrutiny of the Trump family’s growing crypto ventures. Bipartisan talks led by Democrats Schiff and Gallego and Republican Tillis are ongoing, with the White House saying there are no conflicts of interest. The outcome hinges on securing a workable ethics framework that could determine whether the legislation advances in both chambers.
Trump hosted a closed‑door VIP conference at Mar-a-Lago for about 297 top holders of his $TRUMP token, while the meme coin fell more than 95% from its peak and traded around $2.5–$3; the event amplifies scrutiny of the Trump family’s crypto ventures, with Reuters noting substantial crypto sales tied to the family.
Trump welcomed winners of a cryptocurrency contest to Mar-a-Lago, highlighting his continued ties to crypto projects even as his own coin has stalled in the market.
Newport Beach resident Evan Tangeman, 22, was sentenced to 70 months for laundering more than $263 million in cryptocurrency for a multi-state criminal enterprise tied to online gaming; he previously pleaded guilty to laundering at least $3.5 million. The group used hackers, organizers, target identifiers and burglars to steal funds and spent the loot on nightclub tabs, exotic cars, private jets and rental homes in Los Angeles, Miami and the Hamptons. Tangeman allegedly destroyed evidence after co-conspirators were arrested and will face three years of supervised release following his prison term. The investigation involved the DOJ, FBI and IRS-CI.
A U.S. District Court in Washington, D.C., sentenced Evan Tangeman, 22, of Newport Beach, to 70 months in prison for laundering at least $3.5 million generated by a multi-state social-engineering scheme that stole more than $263 million in cryptocurrency; he helped destroy electronic evidence when co-conspirators were arrested, and the scheme funded luxury cars, mansions, and other lavish purchases across California, Florida, and beyond.