Sarah Suleiman

Argentinian President Milei skips civil hearing as Libra case judge orders bank records unsealed

A judge asked Argentina's central bank to revoke President Javier Milei's bank secrecy privileges as investigators looking into Milei's dealings with the team behind the $LIBRA token project probe his finances and those of his associates, including his sister.

Local news site Pagina12 reported Federal Judge María Servini, presiding over the Libra case, asked the country's Central Bank to unseal the president's accounts and those of Karina Milei, his sister, who reportedly engaged with some of the Libra co-founders ahead of the token's launch.

The launch and subsequent collapse of the Libra token has become a significant scandal for Mr. Milei; dubbed "CryptoGate" by the country's media, Milei has faced calls for impeachment and fraud charges after he promoted and then revoked his promotion for a new crypto asset. Its plunge in value led investors to lose millions as the token crashed 90% in mere hours.

Judge Servini previously ordered a freeze of the finances of three co-founders of the Libra memecoin, according to Pagina12, which said prosecutors are also reviewing video evidence of one of the co-founders' mother and sister allegedly emptying bank safe-deposit boxes on the day after Milei's promotion of the token.

The President and his sister also declined to show up for a mediation hearing in a prelude to a possible civil suit, Pagina12 reported. The summons was issued by an Argentine lawyer representing 25 foreign and native victims of the debacle.

Milei has denied any wrongdoing, downplaying the idea that many Argentinians lost money and arguing he just intended to promote the project as a "super technology enthusiast."

Hong Kong police arrest 12 suspected of laundering $15 million through crypto exchange shops

Hong Kong police said a raid targeting a cross-border money laundering syndicated culminated in 12 arrests, dismantling a ring responsible for laundering HK$118 million ($15 million USD) through banks and crypto exchange shops.

The police's commercial crime bureau arrested two local key members of the syndicate and ten mainland Chinese operatives, nine men and three women between the ages of 20 and 42, the police told local media. The local operatives had recruited the mainland citizens to open shell accounts in both traditional and digital banks in Hong Kong.

"These people were also arranged to use other bank cards to withdraw cash and then transport the funds to some virtual asset exchange stores to convert them into cryptocurrency as a means of laundering money," police superintendent Shirley Kwok Ching-yee said. As many as 500 stooge accounts were set up.

A portion of the funds, around $1.3 million, was linked to the proceeds of 58 scam operations. Hong Kong has seen a nearly 12% year-over-year increase in fraud cases, the police said, with more than 10,000 people arrested in connection to fraud operations.

Hong Kong, which is seeking to accelerate digital asset development, is also cracking down harder on money laundering and fraud, the police said.

📉 $PEPE Update – Price: $0.00001245 (-8.84%)

🚨 Market Dip = Opportunity?

PEPE has seen a sharp correction today, but this could be setting up for a bounce or deeper retrace depending on how support levels hold.

📊 Key Levels to Watch:

🔻 Support Zone: $0.00001180 - $0.00001200 → Strong buy interest seen here previously.

🔼 Resistance: $0.00001320 → Needs to flip for bullish momentum to return.

📈 Breakout Level: $0.00001400 → Break and hold = potential push to new highs.

🧠 Trade Idea (Short-Term Swing):

Buy Zone: $0.00001200 - $0.00001220

Stop Loss: Below $0.00001170

Target 1: $0.00001320

Target 2: $0.00001400+

🕵️‍♂️ Watch for:

RSI oversold bounce

Bitcoin stability (macro risk still in play)

Volume surge as a sign of reversal

For my fans 👉 ETH

🔄 Trading Spotlight: $USDC – The Stable Cornerstone of Crypto 🔄

If you're looking for stability in the ever-volatile world of crypto, USDC is one of the most trusted assets in the space. Pegged 1:1 to the U.S. dollar and backed by fully reserved assets, USDC offers a reliable way to park value, move funds quickly across exchanges, and manage risks.

Pairing USDC with other cryptocurrencies opens up a world of strategic opportunities. Whether you're trading it against Bitcoin, Ethereum, or newer altcoins, USDC allows you to lock in profits and mitigate losses when markets swing. Plus, it's widely supported on DeFi platforms, offering yield farming and liquidity pool options.

Stay steady. Stay smart. Trade with $USDC. 💸📊

Alchemy acquires Solana infrastructure provider DexterLab as it continues expansion beyond Ethereum

Alchemy, the so-called "AWS of blockchain," has acquired top Solana
SOL -2.14%
infrastructure provider DexterLab, used by Google, Chainstack, and the Solana Foundation. The acquisition will help Alchemy expand its enterprise-grade Solana services.

"This acquisition is a significant milestone in our Solana journey," Alexandru Minulescu, Alchemy engineering lead, said in a statement. "By combining expertise and resources, we'll scale our infrastructure and accelerate innovation across the ecosystem. What began as a collaboration nearly six months ago has evolved into a true partnership.”

The move comes amid the rising prominence of Solana, largely driven by successful consumer applications like Pump.fun, which benefit from the blockchain’s highly scalable design.

The terms of the deal were not disclosed
DexterLab provides managed web3 services for companies looking to monitor the Solana ecosystem. It provides raw data APIs, real-time data feeds, and other services for the Solana mainnet as well as the wider SVM rollup and sidechain ecosystem.

The Solana Virtual Machine ecosystem generates approximately 1 terabyte of data per day, which represents challenges for "conventional RPC services," DexterLab notes on its website. The startup engages data centers across the world to offer lower latency for data queries.

Alchemy is a blockchain development platform that provides tools and infrastructure — like SDKs, debugging tools, and validator support — to simplify the process of building and scaling decentralized applications and interacting with protocols. Since its launch, Alchemy has largely focused on providing solutions for Ethereum and EVM-based networks

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KULR sees Q1 revenue boost amid bitcoin mining debut, blockchain rollout, and expanding BTC treasury

NYSE-listed energy management solutions firm KULR Technology reported its first-quarter results on Thursday — a quarter that saw the company significantly expand its Strategy-esque corporate bitcoin treasury, unveil its own blockchain, and register its first bitcoin mining revenue.

KULR's revenue rose 40% year-over-year to $2.45 million, driven by strong product sales. However, the firm's net losses widened significantly to $18.81 million compared to $5 million during the same period last year — primarily due to mark-to-market adjustments on its bitcoin holdings compared to Dec. 31, according to a release.

KULR announced on May 15 it had expanded its bitcoin holdings to 716.2
BTC +0.086%
($74.4 million) after its latest $4 million purchase at an average price of $94,403, building on its 668.3 BTC total as of March 25. KULR's total holdings were acquired at a cumulative cost of $69 million, implying a paper gain of $5.4 million. Year to date, the company reported a 197.5% BTC Yield — a metric it uses to track bitcoin growth relative to fully diluted shares, funded through surplus cash and its at-the-market equity program.

"2025 is a transformational year for KULR and the transformation is well on its way," KULR CEO Michael Mo said in the statement. "With over $100 million in cash and bitcoin holdings on our balance sheet as of the present day and virtually no debt, we are well capitalized to grow our battery and AI Robotics businesses, while our capital market activities in the foreseeable future are geared to turbocharge our bitcoin acquisition strategy, establishing KULR as a pioneer BTC-First Bitcoin Treasury Company."

KULR is among an increasing number of firms looking to emulate Strategy's (formerly MicroStrategy) bitcoin acquisition playbook, alongside Semler Scientific, Metaplanet, Twenty One, and Nakamoto, among others.

KULR's first bitcoin mining revenue and its own blockchain-based supply chain initiative

BlackRock’s sBUIDL launches 'first direct DeFi protocol integration' with Euler on Avalanche

BlackRock's BUIDL has its "first direct DeFi protocol integration" following an implementation on Euler
EUL +0.75%
on Avalanche
AVAX -6.80%
, according to an announcement on Thursday. The launch builds on the sToken framework developed by Securitize, which enables tokenized products like BUIDL to expand further onchain.

BUIDL is the world’s largest tokenized treasury fund, representing nearly $3 billion worth of short-term Treasuries and repo agreements. sBUIDL, a composable ERC-20 token, is fully redeemable for BlackRock’s BUIDL.

Thursday’s integration, developed by Re7 Labs, will enable the use of sBUIDL as collateral on Euler. Users will also be able to earn AVAX rewards when borrowing USDC or AUSD against sBUIDL, as well as the underlying yield generated by the BUIDL fund.

"It turns BUIDL into a composable ERC-20, enabling onchain utility without compromising redeemability," Euler wrote in an announcement.

Euler Finance is a decentralized, non-custodial EVM-based lending protocol. In 2023, it suffered a $197 million flash loan attack due to a vulnerability in its "donateToReserves" function that lacked liquidity checks, enabling the attacker to manipulate collateral and debt tokens.

The protocol relaunched in September 2024 with a modular, developer-focused v2 protocol and has garnered over $387 million in deposits by March 2025.

Democrats ask Treasury for 'suspicious activity reports' on Trump crypto ventures, mention Justin Sun

House Democrats on Wednesday requested that the U.S. Treasury Department provide details of any suspicious financial activity related to cryptocurrency projects backed by President Donald Trump.

In a letter to Treasury Secretary Scott Bessent, the Democrats asked the department to "make available to the Committees all suspicious activity reports (SARs) related to ... the Trump family’s recently launched crypto venture World Liberty Financial (WLF) and Trump-branded meme coins," according to a statement.

The request was part of a broader inquiry that also included the Elon Musk-aligned political action committee that supported Trump and the Republican fundraising platform WinRed. The Democrats cited concerns about “bribery, corruption, and conflicts of interest” as the basis for their request.

The Democrats also specifically singled out Justin Sun, who has been a big backer of World Liberty Financial.

"In January, Mr. Sun bought $45 million of WLF’s token, bringing his total investment in the venture to $75 million," the letter said. "Shortly thereafter, SEC asked the court to pause its enforcement action against Mr. Sun
Trump’s increasing involvement in cryptocurrency has drawn considerable criticism from political opponents, who have accused the former president of using the sector for personal enrichment.

Last week, Rep. Ritchie Torres, D-N.Y., introduced legislation that would block President Trump, future presidents, and members of Congress from "profiteering" on memecoins and stablecoins. Senate Democrats, including Sen. Elizabeth Warren, have demanded information about President Trump's ties to Binance, the world's largest cryptocurrency exchange by trading volume.

VanEck, Securitize launch tokenized US Treasury fund across four blockchains

VanEck and Securitize said Tuesday they have partnered to launch a tokenized fund offering investors onchain exposure to U.S. Treasurys.

The fund, called VanEck Treasury Fund Ltd. (VBILL), is aimed at providing a secure, transparent and liquid tool for cash management.

"Tokenized funds like VBILL are enhancing market liquidity and efficiency, underscoring our commitment to providing value to our investors," VanEck's Director of Digital Assets Product Kyle DaCruz said in a statement.

While leveraging "Securitize's integrated services" the VBILL fund is initially available on Avalanche
AVAX -1.46%
, BNB Chain, Ethereum and Solana
SOL -1.75%
blockchains with Wormhole facilitating cross-chain interoperability.

Securitize is the leading platform for real-world assets with over $3.9 billion in tokenized securities, according to the statement. The company has worked with firms such as Apollo, BlackRock, Hamilton Lane and KKR.
With VBILL, our combined efforts demonstrate tokenization's ability to create new market opportunities with the speed, transparency, and programmability of blockchain technology," Securitize co-founder and CEO Carlos Domingo said.

To buy into VBILL, a minimum investment of $100,000 is required for exposure on Avalanche, BNB Chain and Solana, or $1,000,000 on Ethereum, the companies said.

Last month, Securitize launched an institutional crypto index fund in partnership with Mantle, which committed $400 million as the fund's anchor investment.

According to RWA.xyz, there is currently nearly $23 billion worth of real-world assets represented onchain.

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Robinhood to acquire Canadian crypto trading platform WonderFi for around $179 million

Robinhood Markets, a subsidiary of financial services giant Robinhood, has agreed to acquire WonderFi Technologies, a Canadian crypto trading platform, in an all-cash deal valued at C$250 million (around US$179 million). The acquisition marks a major step in Robinhood's crypto expansion into the Canadian market.

The deal values WonderFi shares at C$0.36 each — a 41% premium to their May 12 closing price on the Toronto Stock Exchange and a 71% premium to the 30-day volume-weighted average trading price, Robinhood and WonderFi said Tuesday.

"WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood's mission in Canada," said Johann Kerbrat, senior vice president and general manager of Robinhood Crypto. WonderFi operates registered platforms including Bitbuy, Coinsquare and SmartPay, and currently holds over C$2.1 billion in client assets under custody.

WonderFi's leadership team will stay on and continue operating under Robinhood Crypto, with plans to expand its crypto product offerings for Canadian users. The deal will also see WonderFi employees join Robinhood, adding to its more than 140 staff in Canada. Robinhood opened a Canadian headquarters in Toronto last year.

WonderFi shareholders will vote on the deal at a special meeting expected in July. If approved by shareholders and regulators, the transaction is expected to close in the second half of 2025. Last November, WonderFi president and CEO Dean Skurka was reportedly kidnapped and released after a $1 million ransom was paid.

JPMorgan Securities served as exclusive financial advisor to Robinhood, with Davies Ward Phillips & Vineberg acting as its legal counsel. WonderFi was advised by Financial Technology Partners and others, with Cassels Brock & Blackwell and Mintz acting as its legal and regulatory counsel, respectively.

Trump memecoin gala dinner winners locked in with promise of background checks
President Donald Trump's official memecoin competition to decide who will be able to attend an exclusive dinner with the Commander in Chief has ended, and the 220 winners will be notified, the project said Monday.

TRUMP -4.94%
Competition is officially over," the project posted to X. "If you were in the top 220 on the leaderboard, check the email you signed up with for details on the Dinner with President Trump as soon as possible. There will be background checks that need to be completed before your attendance is confirmed.

Since Trump's memecoin launched in January, it has experienced pronounced volatility, reaching an all-time high of $73 before sinking in dramatic fashion. TRUMP was changing hands at $12.63 as of 4:28 p.m. ET, according to The Block Price Page.

The memecoin has also been the subject of much criticism, especially after the project announced that the top 220 holders could win a chance to dine with President Trump. The gala dinner is scheduled to be held at Trump National Golf Club in Washington, D.C.

Along with Monday's announcement, the project said that holders who maintain their position would earn an NFT.
For all those that hold the same amount of TRUMP at the dinner as on your final leaderboard number, you will also get a Trump Diamond Hand limited edition Trump Solana
SOL +1.05%
NFT. Very Special and Rare," the project posted.

Buyers of U.S. President Donald Trump’s TRUMP memecoin spent an estimated $148 million in the contest to win the opportunity to dine with the president," according to a report from Reuters on Monday, which cited data from Inca Digital. According to Chainalysis, 58 digital wallets that bought the memecoin made more than $10 million, with over $1 billion in total gains, while 764,000 wallets lost money
The official Trump memecoin was launched by Fight Fight Fight LLC.

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There is more USDT in circulation than ever as Tether supply crosses $150 billion mark

There are now more tether’s in circulation than ever, according to Tether
USDT -0.03%
's latest Transparency page update. The total USDT supply crossed the $150 billion mark, Tether CEO Paolo Ardoino posted on X on Monday.

The news comes amid a gangbuster couple of years for the storied stablecoin issuer, which has been minting profits from its sizable holdings of U.S. Treasurys. Last quarter, Tether reported "over $1 billion in operating profit,” continuing on a growth trajectory that began during the second half of 2022.

Tether said its “total exposure” to U.S. Treasurys had neared $120 billion in Q1 2025, including its indirect exposure to government debt through money market funds and reverse repurchase agreements. Short-dated Treasurys make up the majority of USDT’s backing reserves, according to its attestations.

According to Tether, the company has issued over $73 billion worth of USDT tokens on Tron
TRX +2.35%
, which is the first time another blockchain has surpassed the amount of tethers circulated on Ethereum.

Tether’s largest competitor, Circle, has issued approximately $60 billion USDC tokens. None of the next largest rivals, like Sky’s USDS, Ethena’s USDe and Trump’s USD1, have cracked the $10 billion mark.

Strategy stacks another 13,390 bitcoin for $1.3 billion, bringing total holdings to 568,840 BTC

Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 13,390
BTC -1.37%
for approximately $1.34 billion at an average price of $99,856 per bitcoin between May 5 and May 11, according to an 8-K filing with the Securities and Exchange Commission on Monday.

Strategy now holds a total of 568,840 BTC — worth over $59 billion — bought at an average price of $69,287 per bitcoin for a total cost of around $39.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. That's the equivalent of more than 2.7% of bitcoin's total 21 million supply and implies around $20 billion of paper gains — with 303,230 BTC bought in the last six months alone.

The latest acquisitions were made using proceeds from the sale of its class A common stock, MSTR, and perpetual strike preferred stock, STRK. Last week, Strategy sold 3,222,875 MSTR shares for approximately $1.31 billion. As of May 11, $19.69 billion worth of MSTR shares remain available for issuance and sale under that program, the firm said. Strategy also sold 273,987 STRK shares for approximately $25.1 million, with $20.85 billion worth of STRK shares remaining available for issuance and sale under that program.

Strategy's STRK and STRF perpetual preferred stocks are in addition to the firm's "42/42" plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027 — upsized from its initial $42 billion, "21/21" plan, of which the equity side was recently depleted.
Saylor again hinted at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy's bitcoin purchase tracker on Sunday, stating, "Connect the dots
Strategy previously acquired an additional 1,895 BTC for approximately $180 million at an average price of $95,167 per bitcoin between April 28 and May 4 — taking its total holdings to 555,450 BTC.

Goldman Sachs boosts IBIT holdings by 28% as BlackRock's bitcoin ETF logs longest inflow streak of 2025

BlackRock's spot bitcoin ETF, IBIT, has seen net inflows on each of the last 20 trading days, the longest such streak for any spot bitcoin ETF on the market so far this year.

The fund has taken in around $5.1 billion over the past 20 trading days, according to SoSoValue data, the most of any spot bitcoin ETF on the market. With the rising price of bitcoin, U.S.-based spot bitcoin funds cumulatively hold over $121 billion in net asset value, the highest such sum since January of this year.

Bloomberg ETF analyst Eric Balchunas recently noted the divergence between IBIT and other funds in a post on X. "[IBIT is] taking in SO much more then the rest of them," Balchunas wrote on Monday. "Usually there's much more parity...My theory, return of the HF [hedge fund] basis trade and some big fish biting after the decoupling and subsequent rally."

One significant IBIT buyer has been Goldman Sachs, according to a recent SEC filing first spotted by MacroScope, which said Goldman Sachs is now the largest known IBIT holder internationally. The finance firm holds 30.8 million shares valued around $1.4 billion, a 28% increase from its holdings at the start of 2025's first quarter.

The firm also holds 3.5 million shares of FBTC, the market's second-largest spot bitcoin ETF by assets under management, worth about $315 million. It added around 30,000 shares over the first quarter of 2025, according to the filing.

Goldman's filing in December also reported an IBIT call valued at $157 million and a put valued at $527 million, and an FBTC put valued at $84 million," MacroScope wrote. "None of these positions appeared in the 13F [filing] today."

The filing comes mere months after Goldman Sachs acknowledged crypto in its annual shareholder letter for the first time. Stablecoin legislation may provide another accelerant to the firm's crypto adoption, its head of digital assets said at Token2049 recently.

Doodles launches its native token DOOD on Solana

The NFT project Doodles has launched its token DOOD on Solana.

Exchanges that will support the token include Bybit, Binance Alpha, Gate, KuCoin, and MEXC, with more platforms to come, according to a release shared with The Block. The token airdrop claim is now available on the Doodles website.

Launching alongside DOOD is DreamNet, a decentralized protocol for AI-powered storytelling. Users can create characters and story worlds within DreamNet and earn fees in DOOD if their creations are used in other games or animations on the protocol. Doodles has also launched an office-based survival game called "Lord of the Files" in which users must compete against each other for a pot of 500,000 DOOD.

"DOOD will be embedded into everything we do, from DreamNet and product integrations to gaming and creative participation," Doodles CEO Scott Martin told The Block in an email. "One of the first token powered experiences is Lord of the Files, a social game that lives entirely on X. We’re excited about that!"

Initially announced in February, DOOD has a total supply of 10 billion. The Doodles community will get 30%, an ecosystem fund nabs 25%, the team keeps 17%, and "New Blood" gets 13%, with the remaining 10% for liquidity and 5% for the company, The Block previously reported. Though initially launched on Solana, Doodles intends to launch DOOD on Base.
We’ve always believed in creating a space where people can escape and connect at the same time," Martin said in a statement. "Launching $DOOD on Solana is a huge step toward making that future real. It’s about giving more people a real stake in the worlds we’re creating, and using tech to bring art, ownership, and imagination closer together."
Doodles is a collection of 10,000 cartoon image collectibles launched in October 2021. The floor price of a Doodles NFT sits at 3.37 ETH (about $8,000), with the project bringing in $4 million in trading volume

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The Daily: Ethereum jumps over 20% following Pectra upgrade, Wellgistics unveils $50 million XRP integration and treasury reserve plan, and more

Ethereum jumps over 20% following Pectra upgrade
Ethereum soared over 20% on Thursday following the network's Pectra upgrade earlier in the week — marking its biggest single-day gain since May 2021.

"ETH is finally catching up after lagging behind BTC for most of the year," Presto Research Analyst Min Jung said. "The recent Pectra upgrade has helped restore some confidence, and with ETH/BTC down nearly 40% year-to-date at 0.02, it's not surprising to see buyers stepping in at these levels."
Pectra is Ethereum's biggest upgrade since The Merge in 2022, introducing improvements to staking efficiency, validator operations, and Layer 2 scalability.
LVRG Research Director Nick Ruck told The Block that the upgrade triggered a bullish reaction, driving gains in altcoins.
"In addition to positive macroeconomic news, traders believe the crypto industry may have finally found its second wind as a hedge against market uncertainty," Ruck said.
"Investors are changing their perspectives on crypto now that altcoins have departed from a negative trend and found buying pressure from a renewed risk-on sentiment," he added.
The broader crypto market rallied alongside Ethereum, supported by renewed U.S.-China trade negotiations, as bitcoin retook the $100,000 level.
Wellgistics to adopt XRP for payments and treasury reserve with $50 million credit facility
Pharmaceutical distribution company Wellgistics plans to use XRP as a real-time payment rail and treasury management asset, aiming to cut costs and settlement times across the healthcare supply chain.Wellgistics plans to use XRP as a real-time payment rail and treasury management asset, aiming to cut costs and settlement times across the healthcare supply chain.

The Florida-based firm has secured a $50 million equity credit line to fund its XRP plan and explore programmable liquidity models.

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Senate Democrats demand answers on Trump's crypto ties and Binance dealings

Senate Democrats, including Sen. Elizabeth Warren, Chris Van Hollen and Richard Blumenthal, are seeking information about President Donald Trump's cryptocurrency ties and Binance.

In a letter sent Friday to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, the senators, along with four other Democrats, demanded answers about the Trump administration's supervision of Binance. Bloomberg earlier reported the news.

Binance pleaded guilty to federal charges in 2023, agreeing to pay $4 billion. Former CEO Changpeng Zhao also served a four-month prison sentence after stepping down, and the firm also agreed to a three-year compliance monitor as part of the plea agreement.

The Democratic senators also criticized Trump and his family's reported ties to Binance. In March, the Wall Street Journal reported that people representing Trump's family had been in discussions about a "business deal" with Binance executives. Then last week, World Liberty Financial co-founder Zach Witkoff announced that Abu Dhabi investment firm MGX will use World Liberty Financial's stablecoins to close a landmark $2 billion deal with Binance. World Liberty Financial is a decentralized finance project that lists Trump and three of his sons as team members.

"Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies," the senators wrote
Binance, the DOJ, and the Treasury Department did not immediately respond to a request for comment.

Some Democrats have increasingly raised concerns about Trump's ties to digital assets, which have in turn complicated legislative efforts.

Trump 'furious' after lobbyist behind XRP-tied crypto post revealed to have worked for Ripple: Politico

President Donald Trump was reportedly upset after he learned his Truth Social post saying
XRP +5.42%
, Solana and Cardano
ADA +10.84%
should be included in a "Crypto Strategic Reserve" was crafted by a lobbyist firm working for Ripple, according to Politico, which cited anonymous sources.

An employee of Ballard Partners, the lobbying group run by Brian Ballard, is said to have provided Trump with a message they thought the president should write, according to Politico. Trump then posted the "missive," according to Politico, but then became angry when he learned that Ballard worked for Ripple, the report also said.

Trump's Truth Social post from March read: "A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World."

Cardano, XRP, and Solana all rose in price after Trump's post. The president later clarified that the planned reserve would also hold Bitcoin
BTC +4.75%
and Ethereum.

Although Ripple maintains that it does not control XRP, it is the company most closely associated with the token. Ripple did not immediately respond to a request for comment
According to Politico, Trump was not only "furious and felt like he’d been used," Ballard quickly became a pariah "in the West Wing" in the aftermath. Ballard Partners did not immediately respond to a request for comment.

Politico also reported that Ballard's "image as a Trump whisperer has allowed his firm to rack up a staggering 130 new clients since the November election, including Chevron, JP Morgan, Palantir, Netflix, Bayer, United Airlines and T-Mobile. "

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Bitcoin crosses $100,000 for first time since February amid renewed US trade negotiations

Bitcoin
BTC +4.52%
crossed the psychologically important trading level of $100,000 on Thursday morning, according to The Block’s BTC price data. The move marks a recent high after sinking to a local low of $76,320 on April 8, amid a mix of macroeconomic uncertainty largely driven by President Donald Trump’s touch-and-go trade policy.

The world's largest cryptocurrency is up nearly 4% on the day, about 7.8% on the week, and 27.4% over the past 30 days, according to The Block's data. This is the first time bitcoin has touched the $100,000 level since Feb. 4.

According to some experts, the rally this week was sparked by renewed trade negotiations between U.S. Treasury Secretary Scott Bessent and Chinese officials scheduled to take place in Switzerland. Trump said on Thursday that trade deals could come this week, including with the UK.

Others, including Standard Chartered analyst Geoffrey Kendrick, argued BTC is rising due to increased flows. If the levels hold, bitcoin could rise to all-time highs.

"I think a fresh all-time high for Bitcoin is coming soon. My specific target of USD120k for Q2 looks very achievable," Kendrick told The Block in an email. "The dominant story for Bitcoin has changed again."
Bitcoin then became a way to position for strategic asset reallocation out of U.S. assets. It is now all about flows. And flows are coming in many forms," Kendrick said, pointing specifically at over $3.5 billion worth of spot Bitcoin exchange-traded product inflows in the past three weeks, Strategy’s recently announced "42/42" plan to raise an additional $84 billion to buy BTC, and other dynamics.

Rep. Torres to introduce bill banning Trump, lawmakers from cashing in on memecoins and stablecoins
Rep. Ritchie Torres, D-N.Y., plans to introduce legislation that would block President Donald Trump, future presidents, and members of Congress from "profiteering" on memecoins and stablecoins.

The bill, called the Stop Presidential Profiteering from Digital Assets Act, would make it unlawful for someone to create, issue or promote a digital asset that "uses the name, likeness, image, or other recognizable traits of a covered individual," in a message sent by Benny Stanislawski, a spokesman for Rep. Torres, to The Block.

The legislation defines a “covered individual” as a current or former U.S. president, vice president, member of Congress, or any presidentially appointed and Senate-confirmed federal official, along with their immediate family members.

The move comes amid growing criticism among Democrats about Trump’s involvement in crypto, which has created tension as they and their Republican counterparts work on legislation to regulate digital assets.
Since late 2024, Trump and his family have embraced digital assets, launching their own memecoins shortly before his 2025 inauguration. His affiliated venture, World Liberty Financial, recently launched its own stablecoin. Trump also hosted a crypto-themed fundraiser Monday night for the MAGA Inc. super PAC, and is hosting a gala later this month for the top 220 owners of his memecoin