Democratic lawmakers in the U.S. have launched a multifaceted attack against President Donald Trump's cryptocurrency initiatives with two bills and an investigation by a subcommittee aimed at limiting his ability to profit from these initiatives.
The Modern Emoluments and Malfeasance Enforcement Act, or MEME Act, seeks to prevent federal officials from using their position to profit from memecoins, according to Democratic Senator Chris Murphy in a statement on May 6.
Christopher Scott Murphy is an American politician affiliated with the Democratic Party. Since 2012, he has represented the state of Connecticut in the U.S. Senate. From 2007 to 2013, he was a member of the House of Representatives for Connecticut's 5th congressional district.
U.S. Representative Sam Liccardo, another Democrat, introduced complementary legislation in the House of Representatives. However, Trump's party, the Republicans, controls both chambers, and the legislation will need Republican support.
Samuel Theodore Liccardo is an American lawyer and politician who currently serves as the U.S. Representative for California's 16th congressional district. Previously, he was the 65th mayor of San Jose from 2015 to 2023. A member of the Democratic Party, Liccardo was elected mayor in November 2014 and re-elected in 2018 with 75.8% of the votes.
Meanwhile, Democratic Senator Richard Blumenthal, a senior member of the Permanent Subcommittee on Investigations (PSI), said in a statement on May 6 that the committee is launching a preliminary investigation into the Official Trump token (TRUMP), the platform backed by Trump World Liberty Financial (WLFI) and other associated trading companies.
Richard Blumenthal is an American politician affiliated with the Democratic Party. Since 2010, he has represented the state of Connecticut in the Senate. He was re-elected in 2016.
The action of the multiple time frame chart of Bitcoin continues to reflect bullish strength, particularly in the daily chart, where the asset maintains a strong upward trend that began in mid-April. Prices rose from approximately $74,434 to reach a local peak near $97,938 before entering a consolidation phase. Although volume has slightly decreased after the rally, the price structure remains constructive, showing no immediate signs of distribution. Key support is at $92,000, with resistance observed near $98,000. A breakout above this resistance with volume confirmation could catalyze a move towards the psychological level of $100,000.
The market is awaiting what the Fed may announce this Wednesday, May 7, 2025, where no immediate rate cuts are expected:
TIME (-5 UTC) WEDNESDAY MAY 7 CURRENT FORECAST 1:00 PM FOMC Statement 1:00 PM Interest Rate Decision 4.50% 4.50% 1:30 PM FOMC Press Conference
However, Jerome Powell's message regarding the number of expected cuts for 2025 will be key. This statement could trigger a strong reaction in risk assets, including BTC.
Simultaneously, the trade front is generating additional pressure. President Donald Trump has proposed a 100% tariff on foreign audiovisual products, while China demands that the U.S. unilaterally remove existing tariffs to initiate negotiations. Although Trump has shown willingness to soften his stance, the lack of concrete agreements adds uncertainty, affecting investor sentiment.
Support and Resistance: Key Support: $92,000. Key Resistance: $98,000. Immediate Resistance: $95,000. Major Resistance: $100,000. Immediate Support: $92,204.
The Federal Reserve of the United States announced on Wednesday a new pause in rate cuts and warned about greater risks to its inflation and unemployment targets, likely referring to President Donald Trump's tariffs.
The authorities voted unanimously to maintain the key interest rate of the U.S. central bank between 4.25% and 4.50%, as reported by the Fed in a statement.
In the massive blackout that occurred days ago in Spain, an internet user explained how they maintained their internet connection using 8 AA batteries of 1.5V connected in series to power their router and the ONT, which require 12V of direct current.
They clarified that this only works if the network node they are connected to still has backup power, only in that case.
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The word of the day. This week the topic is Tariffs.
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The word of the day. This week the theme is Tariffs. Don't miss this opportunity for an additional point, to accumulate points along with the tasks you carry out in Square and the daily attendance record. The word of the day is: trade. Regards and successes, remember that the best investment always takes into account the long term. 👉 By reaching the end of this post, here is a sobre rojo de regalo for you. To access, scan the QR code of the image or use the link. 👉 You may also be interested in today's topic of blog de Binance.