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Hello everyone, On Thursday (May 15), Bitcoin has been fluctuating at these levels, having retreated to around $102,000. The upward momentum resulting from the trade war has slowly begun to fade. Adam Back, one of the legendary names in the Bitcoin community and the person closest to Satoshi Nakamoto, thinks that the current price is too low and states that Bitcoin should reach the $500,000 to $1 million range in this cycle. Meanwhile, the US Democratic Party is requesting an investigation report into suspected corruption activities linked to Donald Trump. These activities include projects such as World Liberty Financial (WLFI) and various meme coins.

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The Democratic lawmakers said the purpose of their investigation was to “determine whether regulatory changes are needed to prevent violations of election finance, consumer protection, bribery, securities fraud and other anti-corruption laws,” as well as “to prevent financial improprieties involving current or future federal officials.” In the letter, the lawmakers said WLFI may have been misused as a “foreign influence peddling vehicle,” as some of its token sales were directed to foreign investors, who are “generally subject to less stringent regulations than U.S. investors.” Trump’s meme coin also drew criticism, with the lawmakers arguing in the letter that the identities of the token buyers were not disclosed, which could open the door to malicious actors purchasing tokens “in an effort to please Trump.”

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According to Bloomberg on May 9, a group of Democratic senators sent a letter to senior officials at the US Department of Justice and the Treasury Department, expressing concerns about Donald Trump’s relationship with cryptocurrency exchange Binance and the potential conflicts of interest that may arise in regulating the industry. Democratic lawmakers also launched a multi-pronged attack on May 6, introducing two bills and launching a subcommittee investigation to scrutinize Trump’s ability to profit from cryptocurrency projects.

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American financial institutions are required to file a Suspicious Activity Report (SAR) with the Financial Crimes Enforcement Network (FinCEN), an agency of the U.S. Treasury Department, when they detect suspicious activity, such as potential money laundering or fraud. As part of this comprehensive investigation, all SAR reports related to WinRed, America PAC, Elon Musk, political action committees (PACs), Trump, World Liberty Financial, TRUMP coin, and MELANIA coin are requested to be submitted no later than May 30

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In addition, Bitcoin’s market cap has now surpassed silver and Google to become the world’s sixth-largest traded asset. The news that Strategy Corporation (formerly MicroStrategy) purchased an additional 13,390 Bitcoins between May 5 and 11 has raised concerns among investors. BlackRock and Strategy Corporation now collectively hold a combined 1.19 million Bitcoins, or about 6% of the circulating supply. Some investors are concerned that Strategy founder Michael Saylor is taking too much responsibility for supporting the price of Bitcoin. Critics such as Peter Schiff have suggested that Strategy Corporation’s increasingly high average purchase cost could eventually lead to losses, and that the company may be forced to sell some of its assets to cover borrowing costs. However, this scenario seems unlikely, as the company has doubled its capitalization limit, which includes $21 billion in stock and $21 billion in debt

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