crypto news update today for Trump coin

There is no specific news update from Binance Square regarding the Trump coin ($TRUMP ) for today, May 10, 2025, based on available information. However, recent reports indicate significant developments involving the Trump family's cryptocurrency ventures, particularly with Binance and the Trump-affiliated stablecoin USD1.

Key points from recent coverage:

On May 1, 2025, World Liberty Financial, a Trump family crypto venture, announced that its USD1 stablecoin was selected by MGX, an Abu Dhabi-backed investment firm, for a $2 billion investment in Binance, the world’s largest crypto exchange. This deal has raised concerns about potential conflicts of interest, as the Trump family owns 60% of World Liberty Financial and is entitled to 75% of its revenue.

The $TRUMP meme coin, separate from the USD1 stablecoin, has seen volatile trading. Data from Chainalysis indicates that while 58 crypto wallets have made millions on $TRUMP, approximately 764,000 wallets have lost money. Interest in the coin surged over 50% after an announcement promising the top 220 holders a dinner with President Trump, though this has drawn criticism as a "pay-for-play scheme."

U.S. lawmakers, including Senators Elizabeth Warren and Richard Blumenthal, have raised alarms about the deal, citing national security risks and potential violations of federal ethics laws. They are pushing for investigations into Trump’s crypto ventures and have proposed legislation to restrict elected officials and their families from issuing digital assets.

For the latest updates, you may want to check Binance Square directly or follow relevant discussions on platforms like X, as the crypto market is highly dynamic, and new developments could emerge rapidly. If you’d like me to search for more real-time information or analyze specific posts on X, let me know.