In a cryptocurrency world that claims to prioritise rigour and investor protection, the $TRUMP meme coin flipped the rules overnight. When US President Donald Trump launched his namesake digital token, $TRUMP, just days before his inauguration in January, some of the world’s largest crypto exchanges listed it in record time, many within 48 hours, according to a Reuters investigation. That’s unusually fast in an industry that often takes months to vet risky assets.&nbsp;The coin, while politically charged and culturally viral, has no intrinsic value, it’s a meme coin, prone to wild price swings and vulnerable to insider control. And as trading history now shows, the biggest winners were a handful of early wallets, while hundreds of thousands of others were left nursing heavy losses.<h2>The $TRUMP listing frenzy: How fast is too fast?</h2>Most large exchanges, including Binance, Coinbase, OKX and Bitget, claim to vet new tokens meticulously. On its website, Coinbase promises a “rigorous” process to protect customers from scams and market manipulation.&nbsp;Yet, when it came to $TRUMP, Coinbase made a decision in just one day, adding it to its listings roadmap on 18 January and trading it live just three days later. Eight of the 10 largest exchanges listed the coin within 48 hours, Reuters reported. By contrast, the same exchanges took an average of 129 days to list other major meme coins like Pepe, Bonk, Fartcoin, and dogwifhat.&nbsp;Gracy Chen, CEO of Bitget, told Reuters that public demand made it imperative to act quickly. “The crypto space was buzzing with the hype… and the fact that Trump himself announced the coin should kind of solve&nbsp;the compliance issue.”<h2>From $75 to $9: What happened to the price?</h2>On 19 January, just two days after launch, $TRUMP surged to an all-time high of $75.35. But the momentum didn’t last. By early April, it had crashed to under $10, and as of last Thursday, traded at around $9.55. Dubai-based investor Carl “Moon” Runefelt, who runs a crypto YouTube channel, told Reuters he invested $300,000 in $TRUMP at prices between $50 and $60. “It’s probably one of my worst trades, unfortunately.”&nbsp;According to data analysed by Bubblemaps and cited by Reuters, 45 wallets made a combined profit of $1.2 billion, while over 712,000 wallets collectively lost $4.3 billion. Another half a million made an average profit of $5,656.<h2>The red flag everyone ignored</h2>The terms of the $TRUMP coin specified that 80 per cent of the total token supply would be held by the Trump family and its partners, to be gradually unlocked over three years. In crypto, such concentrated holdings are a classic warning sign for pump-and-dump schemes, where prices are inflated and early holders exit at profit, leaving retail investors behind.&nbsp;Bitget CEO Gracy Chen admitted this was a concern told Reuters that, “Eighty per cent held by the team… is in my opinion very risky. But user demand overrode that". MEXC’s COO, Tracy Jin, echoed similar concerns to Reuters, saying the token didn’t meet the firm’s usual listing standards, but the hype was too strong to ignore.<h2>Was this political favouritism?</h2>Reuters found no evidence that Trump or his associates pressured any exchange. However, the pace and scale of listings came after Trump’s public support for crypto and his promises to overhaul its regulation.&nbsp;Trump has declared himself the “crypto president”, and since his election last November, his administration has slowed enforcement actions by the US Securities and Exchange Commission (SEC) against crypto firms. Coinbase and others have responded by listing more politically connected meme coins.&nbsp;The White House told Reuters there were “no conflicts of interest” because Trump’s assets had been placed in a family trust. The Trump Organisation did not respond to questions about the $TRUMP coin.<h2>SEC quiet as regulation shifts under Trump</h2>Under former President Biden, the SEC took a strict stance that most crypto tokens should be treated as securities. But that posture changed rapidly after Trump’s return.&nbsp;According to Reuters, the SEC has paused or withdrawn several enforcement actions against crypto firms, including a top investor in a Trump-linked project. The agency also issued a staff statement concluding that meme coins are not securities, a major policy shift.&nbsp;An SEC spokesperson declined to comment on its approach to Trump’s coin or crypto policy under the current administration.<h2>Who profited from $TRUMP?</h2>According to CoinDesk Data estimates cited by Reuters, the $TRUMP token generated over $172 million in trading fees for the 10 largest exchanges that listed it.&nbsp;But the structure of the coin’s ownership ensured the vast majority of profits went to a select few. Bubblemaps’ analysis revealed:<ul><li>Top 45 wallets made $1.2 billion</li><li>712,777 wallets lost a combined $4.3 billion</li><li>More than 500,000 wallets made small gains averaging $5,656</li></ul><h2>Regulatory warnings ignored</h2>Just one day before the coin’s launch, the New York State Department of Financial Services issued a consumer alert about the dangers of meme coins, highlighting high ownership concentration and lack of regulation.&nbsp;Coinbase, which must comply with New York regulations, blocked residents of the state from trading $TRUMP but allowed trading elsewhere in the US. Listing it in New York would have required a much more extensive review.&nbsp;Even so, five of the largest exchanges told Reuters they did not cut corners. Coinbase’s chief legal officer Paul Grewal said, “We were confident users could engage with the token positively and safely.”However, David Krause, professor emeritus of finance at Marquette University, said the fast listing “suggests either a dramatic acceleration of due diligence or corners being cut. Either scenario has significant implications for investor protection and market integrity.”<h2>What now?</h2>With $TRUMP’s value down and most investors in the red, questions loom over the ethics of fast-tracking politically charged meme coins. Despite mounting scrutiny, exchanges maintain their decision was driven by demand, not politics.&nbsp;But as Trump continues to reshape the regulatory landscape in favour of crypto, and his family-linked ventures rake in hundreds of millions, the line between governance, business, and speculation is becoming increasingly blurred. &nbsp;

Fast tracked by major exchanges, the $TRUMP meme coin enriched insiders while retail investors lost billions. As SEC oversight wanes, questions grow over crypto ethics and political influence in token listings.

In a cryptocurrency world that claims to prioritise rigour and investor protection, the $TRUMP meme coin flipped the rules overnight. When US President Donald Trump launched his namesake digital token, $TRUMP, just days before his inauguration in January, some of the world’s largest crypto exchanges listed it in record time, many within 48 hours, according to a Reuters investigation. That’s unusually fast in an industry that often takes months to vet risky assets. The coin, while politically charged and culturally viral, has no intrinsic value, it’s a meme coin, prone to wild price swings and vulnerable to insider control. And as trading history now shows, the biggest winners were a handful of early wallets, while hundreds of thousands of others were left nursing heavy losses. The $TRUMP listing frenzy: How fast is too fast? Most large exchanges, including Binance, Coinbase, OKX and Bitget, claim to vet new tokens meticulously. On its website, Coinbase promises a “rigorous” process to protect customers from scams and market manipulation. Yet, when it came to $TRUMP, Coinbase made a decision in just one day, adding it to its listings roadmap on 18 January and trading it live just three days later. Eight of the 10 largest exchanges listed the coin within 48 hours, Reuters reported. By contrast, the same exchanges took an average of 129 days to list other major meme coins like Pepe, Bonk, Fartcoin, and dogwifhat. Gracy Chen, CEO of Bitget, told Reuters that public demand made it imperative to act quickly. “The crypto space was buzzing with the hype… and the fact that Trump himself announced the coin should kind of solve the compliance issue.” From $75 to $9: What happened to the price? On 19 January, just two days after launch, $TRUMP surged to an all-time high of $75.35. But the momentum didn’t last. By early April, it had crashed to under $10, and as of last Thursday, traded at around $9.55. Dubai-based investor Carl “Moon” Runefelt, who runs a crypto YouTube channel, told Reuters he invested $300,000 in $TRUMP at prices between $50 and $60. “It’s probably one of my worst trades, unfortunately.” According to data analysed by Bubblemaps and cited by Reuters, 45 wallets made a combined profit of $1.2 billion, while over 712,000 wallets collectively lost $4.3 billion. Another half a million made an average profit of $5,656. The red flag everyone ignored The terms of the $TRUMP coin specified that 80 per cent of the total token supply would be held by the Trump family and its partners, to be gradually unlocked over three years. In crypto, such concentrated holdings are a classic warning sign for pump-and-dump schemes, where prices are inflated and early holders exit at profit, leaving retail investors behind. Bitget CEO Gracy Chen admitted this was a concern told Reuters that, “Eighty per cent held by the team… is in my opinion very risky. But user demand overrode that". MEXC’s COO, Tracy Jin, echoed similar concerns to Reuters, saying the token didn’t meet the firm’s usual listing standards, but the hype was too strong to ignore. Was this political favouritism? Reuters found no evidence that Trump or his associates pressured any exchange. However, the pace and scale of listings came after Trump’s public support for crypto and his promises to overhaul its regulation. Trump has declared himself the “crypto president”, and since his election last November, his administration has slowed enforcement actions by the US Securities and Exchange Commission (SEC) against crypto firms. Coinbase and others have responded by listing more politically connected meme coins. The White House told Reuters there were “no conflicts of interest” because Trump’s assets had been placed in a family trust. The Trump Organisation did not respond to questions about the $TRUMP coin. SEC quiet as regulation shifts under Trump Under former President Biden, the SEC took a strict stance that most crypto tokens should be treated as securities. But that posture changed rapidly after Trump’s return. According to Reuters, the SEC has paused or withdrawn several enforcement actions against crypto firms, including a top investor in a Trump-linked project. The agency also issued a staff statement concluding that meme coins are not securities, a major policy shift. An SEC spokesperson declined to comment on its approach to Trump’s coin or crypto policy under the current administration. Who profited from $TRUMP? According to CoinDesk Data estimates cited by Reuters, the $TRUMP token generated over $172 million in trading fees for the 10 largest exchanges that listed it. But the structure of the coin’s ownership ensured the vast majority of profits went to a select few. Bubblemaps’ analysis revealed: Top 45 wallets made $1.2 billion 712,777 wallets lost a combined $4.3 billion More than 500,000 wallets made small gains averaging $5,656 Regulatory warnings ignored Just one day before the coin’s launch, the New York State Department of Financial Services issued a consumer alert about the dangers of meme coins, highlighting high ownership concentration and lack of regulation. Coinbase, which must comply with New York regulations, blocked residents of the state from trading $TRUMP but allowed trading elsewhere in the US. Listing it in New York would have required a much more extensive review. Even so, five of the largest exchanges told Reuters they did not cut corners. Coinbase’s chief legal officer Paul Grewal said, “We were confident users could engage with the token positively and safely.” However, David Krause, professor emeritus of finance at Marquette University, said the fast listing “suggests either a dramatic acceleration of due diligence or corners being cut. Either scenario has significant implications for investor protection and market integrity.” What now? With $TRUMP’s value down and most investors in the red, questions loom over the ethics of fast-tracking politically charged meme coins. Despite mounting scrutiny, exchanges maintain their decision was driven by demand, not politics. But as Trump continues to reshape the regulatory landscape in favour of crypto, and his family-linked ventures rake in hundreds of millions, the line between governance, business, and speculation is becoming increasingly blurred.

The $TRUMP meme coin, launched just days before Donald Trump’s 2025 inauguration, was fast-tracked by major crypto exchanges in under 48 hours—bypassing typical vetting timelines.

How crypto exchanges rushed to list Trump’s meme coin and why many investors lost big

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds.&nbsp;&nbsp;The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity.<h2>A long-awaited policy framework</h2>Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar.&nbsp;Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments.&nbsp;Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law.<h2>Expanding regulatory oversight</h2>The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC).&nbsp;Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk.<h2>Trump’s pro-crypto stance</h2>President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector.&nbsp;Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children.<h2>Bullish momentum and sceptics’ warnings</h2>Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters.&nbsp;Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility.&nbsp;“The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection.<h2>What’s next?</h2>If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years.&nbsp;As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.&nbsp;

Bitcoin hits record highs ahead of US House votes on the Genius and Clarity Acts, signaling long-awaited regulatory clarity as Trump backs crypto-friendly reforms and markets brace for a pivotal policy shift.

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds. The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity. A long-awaited policy framework Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar. Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments. Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law. Expanding regulatory oversight The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC). Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk. Trump’s pro-crypto stance President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector. Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children. Bullish momentum and sceptics’ warnings Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters. Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility. “The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection. What’s next? If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years. As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.

Crypto markets rally as US Congress prepares for ‘crypto week,’ with key bills poised to reshape regulation and boost investor confidence.

Bitcoin hits record as US Congress prepares for major crypto policy push

History may be in the making for the crypto world. Shares of Circle and Coinbase surged on Wednesday after the US Senate passed the long-awaited GENIUS Act, a landmark bill aimed at regulating stablecoins and giving the digital dollar its clearest legal status yet.&nbsp;Circle, issuer of the second-largest stablecoin, ended the day 33.8 per cent higher. Coinbase jumped 16 per cent, while Robinhood, another crypto-friendly platform, rose 4.5 per cent, as reported by Reuters.<h2>GENIUS Act clears Senate, what happens next?</h2>The bipartisan vote marks a watershed moment for crypto oversight in the United States. The GENIUS Act—short for Guaranteed Electronic National Infrastructure for US-dollar Stablecoins-&nbsp;now moves to the Republican-controlled House of Representatives.&nbsp;&nbsp;If cleared, it will head to President Donald Trump for final approval, likely before the end of summer, as per Reuters.For an industry long trapped in regulatory ambiguity, this could mean a full reset.&nbsp;“If signed into law, we expect stablecoins to evolve from the money rail of crypto to the money rail of the internet,” analysts at brokerage Bernstein wrote, as quoted by Reuters.<h2>Why markets cheered the bill</h2>Circle, which went public on the New York Stock Exchange earlier this month, has become one of the biggest beneficiaries of the stablecoin momentum. Its shares, initially priced at $31, closed at $199.59, with another 4.4 per cent jump after hours, according to Reuters.&nbsp;The company’s flagship token, USDC, co-developed with Coinbase, now boasts a market capitalisation of $61.4 billion, according to data from CoinGecko. The stablecoin also underpins much of Coinbase’s revenue from digital dollars, which surged 51 per cent in the first quarter as USDC hit a new record high.&nbsp;“This is history in the making,” said Circle CEO Jeremy Allaire on social platform X. “This legislation will drive US economic and national competitiveness for decades to come.”<h2>What the GENIUS Act will change</h2>If passed into law, the GENIUS Act will introduce tough transparency and reserve standards. All stablecoins will need to be fully backed by highly liquid assets such as US dollars or short-term Treasury bills, while issuers will be required to disclose the composition of their reserves publicly each month. Crucially, the bill will bring the sector under formal oversight by US regulators, offering long-awaited legal clarity.&nbsp;According to Reuters, analysts at Barclays said the bill could become one of two major crypto laws expected to pass in 2025, offering the industry its most comprehensive regulatory base to date.&nbsp;“While stablecoin demand is already impressive, the new bill can accelerate that demand,” said Andrew Rocco, strategist at Zacks Investment Research, as quoted by Reuters.<h2>Wider crypto sector stands to benefit</h2>Though the law is focused on dollar-pegged tokens, its ripple effects could lift the entire digital asset industry. Analysts at KBW said that providing legal status to stablecoins could act as a strong tailwind for Bitcoin and other major cryptocurrencies.&nbsp;The legislation may also pave the way for large corporates and traditional banks to develop their own regulated stablecoins.&nbsp;“This bill lends credibility to the entire digital asset space,” Rocco added, as quoted by Reuters.<h2>The bigger picture: Crypto goes mainstream?</h2>The global stablecoin market is now worth $256 billion, as per CoinGecko. With regulation now moving swiftly through Congress, analysts say the market could grow significantly, especially if stablecoins become embedded into e-commerce, cross-border trade, and digital financial infrastructure.&nbsp;For Coinbase and Circle, the rally may just be the beginning. But for the broader economy, the GENIUS Act could mark a turning point, the moment the US decided to embrace digital dollars, not resist them.&nbsp;(With inputs from the agencies)

Circle’s stock rose 33.8%, Coinbase 16%, and Robinhood 4.5%. The bill moves to the House for approval, potentially heading to President Trump soon. 

History may be in the making for the crypto world. Shares of Circle and Coinbase surged on Wednesday after the US Senate passed the long-awaited GENIUS Act, a landmark bill aimed at regulating stablecoins and giving the digital dollar its clearest legal status yet. Circle, issuer of the second-largest stablecoin, ended the day 33.8 per cent higher. Coinbase jumped 16 per cent, while Robinhood, another crypto-friendly platform, rose 4.5 per cent, as reported by Reuters. GENIUS Act clears Senate, what happens next? The bipartisan vote marks a watershed moment for crypto oversight in the United States. The GENIUS Act—short for Guaranteed Electronic National Infrastructure for US-dollar Stablecoins- now moves to the Republican-controlled House of Representatives. If cleared, it will head to President Donald Trump for final approval, likely before the end of summer, as per Reuters. For an industry long trapped in regulatory ambiguity, this could mean a full reset. “If signed into law, we expect stablecoins to evolve from the money rail of crypto to the money rail of the internet,” analysts at brokerage Bernstein wrote, as quoted by Reuters. Why markets cheered the bill Circle, which went public on the New York Stock Exchange earlier this month, has become one of the biggest beneficiaries of the stablecoin momentum. Its shares, initially priced at $31, closed at $199.59, with another 4.4 per cent jump after hours, according to Reuters. The company’s flagship token, USDC, co-developed with Coinbase, now boasts a market capitalisation of $61.4 billion, according to data from CoinGecko. The stablecoin also underpins much of Coinbase’s revenue from digital dollars, which surged 51 per cent in the first quarter as USDC hit a new record high. “This is history in the making,” said Circle CEO Jeremy Allaire on social platform X. “This legislation will drive US economic and national competitiveness for decades to come.” What the GENIUS Act will change If passed into law, the GENIUS Act will introduce tough transparency and reserve standards. All stablecoins will need to be fully backed by highly liquid assets such as US dollars or short-term Treasury bills, while issuers will be required to disclose the composition of their reserves publicly each month. Crucially, the bill will bring the sector under formal oversight by US regulators, offering long-awaited legal clarity. According to Reuters, analysts at Barclays said the bill could become one of two major crypto laws expected to pass in 2025, offering the industry its most comprehensive regulatory base to date. “While stablecoin demand is already impressive, the new bill can accelerate that demand,” said Andrew Rocco, strategist at Zacks Investment Research, as quoted by Reuters. Wider crypto sector stands to benefit Though the law is focused on dollar-pegged tokens, its ripple effects could lift the entire digital asset industry. Analysts at KBW said that providing legal status to stablecoins could act as a strong tailwind for Bitcoin and other major cryptocurrencies. The legislation may also pave the way for large corporates and traditional banks to develop their own regulated stablecoins. “This bill lends credibility to the entire digital asset space,” Rocco added, as quoted by Reuters. The bigger picture: Crypto goes mainstream? The global stablecoin market is now worth $256 billion, as per CoinGecko. With regulation now moving swiftly through Congress, analysts say the market could grow significantly, especially if stablecoins become embedded into e-commerce, cross-border trade, and digital financial infrastructure. For Coinbase and Circle, the rally may just be the beginning. But for the broader economy, the GENIUS Act could mark a turning point, the moment the US decided to embrace digital dollars, not resist them. (With inputs from the agencies)

Shares of Circle and Coinbase surged after the US Senate passed the GENIUS Act, a pivotal bill regulating stablecoins and affirming the digital dollar's legal status.

Circle, Coinbase shares soar as Senate passes landmark stablecoin bill: What it means for crypto’s future

In a sweeping move against crypto crime, US authorities have seized $225.3 million in digital assets tied to a sprawling international investment fraud ring.&nbsp;&nbsp;The bust marks the largest-ever recovery from a cryptocurrency confidence scam, exposing a sophisticated laundering network and underscoring the rise of financial cybercrime.&nbsp;The seizure, announced on 18 June 2025, follows a civil forfeiture complaint filed by the US Attorney’s Office for the District of Columbia. Investigators from the FBI and US Secret Service tracked hundreds of thousands of blockchain transactions, unmasking illicit flows used to defraud over 400 victims worldwide, including dozens in the US.&nbsp;“This seizure marks the largest cryptocurrency seizure in US Secret Service history,” said Shawn Bradstreet, Special Agent in Charge, as quoted by Reuters. “These scams prey on trust, often resulting in extreme financial hardship.”&nbsp;US Attorney Jeanine Ferris Pirro added, “With the support of President Trump and Attorney General Bondi, this office is working to return stolen funds to victims—and strip criminals of their digital loot,” as per the DOJ press release.<h2>Legal breakthrough under evolving US crypto law</h2>The enforcement action, though civil, not criminal, was enabled by advanced anti-money laundering (AML) laws and represents a growing trend in crypto-related litigation. Prosecutors filed the complaint in the District of Columbia District Court, leveraging new tools to trace decentralised criminal networks.&nbsp;It coincides with a renewed push to regulate crypto under the GENIUS Act, which recently passed the US Senate and is now headed for a House vote. The bill aims to create federal oversight for stablecoins and digital asset infrastructure, long viewed as a blind spot in financial regulation.<h2>Crypto’s expanding footprint in the US</h2>The seizure highlights the scale of the US crypto ecosystem. Circle’s USDC stablecoin, which was co-founded with Coinbase, has a market capitalisation of $61.4 billion, making it the second largest in the world, according to Reuters.&nbsp;According to Bloomberg, Coinbase—the largest publicly listed crypto exchange in the US—handled approximately 11 per cent of global crypto transactions in 2024, with the US accounting for nearly 25 per cent of all stablecoin activity. The country remains the world’s single largest market for digital assets.<h2>Crypto scams surge to record levels</h2>The action comes amid a dramatic rise in crypto scams. According to Chainalysis, investment fraud and confidence scams generated between $9.9 and $12.4 billion in illicit proceeds in 2024, a year-on-year increase of over 35 per cent.&nbsp;These scams, often labelled “pig butchering,” involve long-term deception, where victims are emotionally manipulated into transferring funds into fake crypto investment platforms.&nbsp;Meanwhile, the FBI’s Internet Crime Complaint Centre (IC3) reported $5.8 billion in reported losses from crypto-related fraud in 2024, up from $5.6 billion in 2023. Institutional thefts are also surging, with $2.2 billion stolen in hacks last year alone, as per Chainalysis.<h2>The global trail: From Southeast Asia to the US</h2>US law enforcement reportedly traced scam proceeds through laundering networks spanning Southeast Asia, including Philippine-linked addresses, and illicit trading platforms in Myanmar and Thailand.&nbsp;As per The Wall Street Journal, one syndicate, Huione, was linked to North Korean hackers and laundered over $28 billion via crypto exchanges and shell companies, prompting recent US Treasury sanctions.&nbsp;“These are not lone-wolf scammers,” said FBI Special Agent Sanjay Virmani, as quoted by Reuters. “They are coordinated criminal networks exploiting international gaps in oversight.”<h2>Victims to receive restitution</h2>The US government has secured custody of the funds and is now working to return them. Victims can report their cases via the FBI’s IC3 portal (www.ic3.gov), using code BT06182025 for case identification.&nbsp;The investigation is led by Assistant US Attorneys Kevin Rosenberg and Rick Blaylock Jr., along with the DOJ’s Computer Crime &amp; Intellectual Property Section (CCIPS). The stablecoin firm Tether also played a key role by cooperating with investigators.<h2>What’s next?&nbsp;</h2>While the Trump administration recently disbanded the National Cryptocurrency Enforcement Team, the DOJ says crypto enforcement remains a top priority. Deputy Attorney General Todd Blanche has pledged “aggressive pursuit of decentralised fraud rings,” according to internal memos reported by CNN.&nbsp;Still, the threat continues to evolve. Experts warn of rising use of AI-driven phishing scams, making it harder for even tech-savvy investors to detect fraud.&nbsp;“This is the Wild West of finance. And it’s not just the West—it’s the Wild North, East and South too,” said Pirro at the press conference, as quoted by CNN.&nbsp;As digital currencies become mainstream, so too do the risks. The record-breaking $225 million seizure is not just a headline—it’s a glimpse into the murky world of decentralised crime.&nbsp;But with new legislation, public–private cooperation, and more tech-savvy investigators, the tide may be turning. Crypto isn’t going anywhere—but neither are the scammers. Now, regulators must race to keep&nbsp;up.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

This action, announced on June 18, 2025, stemmed from a civil forfeiture complaint by the US Attorney Office, with investigations revealing illicit funds affecting over 400 victims globally. 

In a sweeping move against crypto crime, US authorities have seized $225.3 million in digital assets tied to a sprawling international investment fraud ring. The bust marks the largest-ever recovery from a cryptocurrency confidence scam, exposing a sophisticated laundering network and underscoring the rise of financial cybercrime. The seizure, announced on 18 June 2025, follows a civil forfeiture complaint filed by the US Attorney’s Office for the District of Columbia. Investigators from the FBI and US Secret Service tracked hundreds of thousands of blockchain transactions, unmasking illicit flows used to defraud over 400 victims worldwide, including dozens in the US. “This seizure marks the largest cryptocurrency seizure in US Secret Service history,” said Shawn Bradstreet, Special Agent in Charge, as quoted by Reuters. “These scams prey on trust, often resulting in extreme financial hardship.” US Attorney Jeanine Ferris Pirro added, “With the support of President Trump and Attorney General Bondi, this office is working to return stolen funds to victims—and strip criminals of their digital loot,” as per the DOJ press release. Legal breakthrough under evolving US crypto law The enforcement action, though civil, not criminal, was enabled by advanced anti-money laundering (AML) laws and represents a growing trend in crypto-related litigation. Prosecutors filed the complaint in the District of Columbia District Court, leveraging new tools to trace decentralised criminal networks. It coincides with a renewed push to regulate crypto under the GENIUS Act, which recently passed the US Senate and is now headed for a House vote. The bill aims to create federal oversight for stablecoins and digital asset infrastructure, long viewed as a blind spot in financial regulation. Crypto’s expanding footprint in the US The seizure highlights the scale of the US crypto ecosystem. Circle’s USDC stablecoin, which was co-founded with Coinbase, has a market capitalisation of $61.4 billion, making it the second largest in the world, according to Reuters. According to Bloomberg, Coinbase—the largest publicly listed crypto exchange in the US—handled approximately 11 per cent of global crypto transactions in 2024, with the US accounting for nearly 25 per cent of all stablecoin activity. The country remains the world’s single largest market for digital assets. Crypto scams surge to record levels The action comes amid a dramatic rise in crypto scams. According to Chainalysis, investment fraud and confidence scams generated between $9.9 and $12.4 billion in illicit proceeds in 2024, a year-on-year increase of over 35 per cent. These scams, often labelled “pig butchering,” involve long-term deception, where victims are emotionally manipulated into transferring funds into fake crypto investment platforms. Meanwhile, the FBI’s Internet Crime Complaint Centre (IC3) reported $5.8 billion in reported losses from crypto-related fraud in 2024, up from $5.6 billion in 2023. Institutional thefts are also surging, with $2.2 billion stolen in hacks last year alone, as per Chainalysis. The global trail: From Southeast Asia to the US US law enforcement reportedly traced scam proceeds through laundering networks spanning Southeast Asia, including Philippine-linked addresses, and illicit trading platforms in Myanmar and Thailand. As per The Wall Street Journal, one syndicate, Huione, was linked to North Korean hackers and laundered over $28 billion via crypto exchanges and shell companies, prompting recent US Treasury sanctions. “These are not lone-wolf scammers,” said FBI Special Agent Sanjay Virmani, as quoted by Reuters. “They are coordinated criminal networks exploiting international gaps in oversight.” Victims to receive restitution The US government has secured custody of the funds and is now working to return them. Victims can report their cases via the FBI’s IC3 portal (www.ic3.gov), using code BT06182025 for case identification. The investigation is led by Assistant US Attorneys Kevin Rosenberg and Rick Blaylock Jr., along with the DOJ’s Computer Crime & Intellectual Property Section (CCIPS). The stablecoin firm Tether also played a key role by cooperating with investigators. What’s next? While the Trump administration recently disbanded the National Cryptocurrency Enforcement Team, the DOJ says crypto enforcement remains a top priority. Deputy Attorney General Todd Blanche has pledged “aggressive pursuit of decentralised fraud rings,” according to internal memos reported by CNN. Still, the threat continues to evolve. Experts warn of rising use of AI-driven phishing scams, making it harder for even tech-savvy investors to detect fraud. “This is the Wild West of finance. And it’s not just the West—it’s the Wild North, East and South too,” said Pirro at the press conference, as quoted by CNN. As digital currencies become mainstream, so too do the risks. The record-breaking $225 million seizure is not just a headline—it’s a glimpse into the murky world of decentralised crime. But with new legislation, public–private cooperation, and more tech-savvy investigators, the tide may be turning. Crypto isn’t going anywhere—but neither are the scammers. Now, regulators must race to keep up. (With inputs from the agencies)

US authorities seized $225.3 million in digital assets linked to a major international investment fraud ring, marking the largest recovery from a cryptocurrency confidence scam.

US seizes $225 million in the biggest crypto scam; is this a turning point for regulation?

In a stunning move that signals a major policy shift under President Donald Trump’s second administration, the US Securities and Exchange Commission (SEC) has officially dropped its civil enforcement case against Binance, the world’s largest cryptocurrency exchange.&nbsp; &nbsp;The decision was made public in a joint court filing submitted on May 29 in a Washington, DC, federal court, as per Reuters.&nbsp;<h2>What did SEC say</h2>According to Reuters, the SEC said its decision to dismiss the case was based on policy considerations and not a reflection of its stance on cryptocurrency regulation at large. The lawsuit has been dismissed with prejudice, meaning the SEC is legally barred from reopening this specific case in the future.&nbsp;A Binance spokesperson hailed the move as a “landmark moment,” expressing gratitude to SEC Chairman Paul Atkins and the Trump administration. “Innovation can’t thrive under regulation by enforcement,” the spokesperson said, as quoted by Reuters.<h2>Background of the Lawsuit</h2>According to Reuters, the SEC had initially sued Binance and its founder Changpeng Zhao (commonly known as CZ) in June 2023. The agency reportedly accused the crypto giant of inflating trading volumes, diverting customer funds, and misleading investors about its internal compliance mechanisms. The SEC also alleged that Binance facilitated the trading of multiple tokens that, under President Joe Biden’s administration, were considered unregistered securities. &nbsp;This civil case was entirely separate from Binance’s high-profile criminal settlement in November 2023, in which the exchange pleaded guilty to violating US anti-money laundering and sanctions laws. Binance agreed to pay a record $4.32 billion penalty. Zhao himself served a four-month prison term for anti-money laundering violations and was released in September 2024, as per Reuters.<h2>Not just Binance, SEC also dropped Coinbase case</h2>According to Reuters, this isn’t the first crypto enforcement rollback under Trump’s new term. In February 2025, the SEC also dropped a similar case against Coinbase, the largest cryptocurrency exchange in the US, which was accused of listing at least 13 unregistered tokens.&nbsp;&nbsp;Both dismissals reportedly reflect a broader recalibration of regulatory posture under Chairman Paul Atkins.<h2>Atkins’ vision: Clarity over crackdowns</h2>In a speech earlier this month, Atkins emphasized the need for a consistent and transparent regulatory framework. According to Reuters, he stated that one of his top priorities is to create “clear rules of the road” for issuing, trading, and securing digital assets—rules that support innovation while deterring bad actors.&nbsp;For years, the crypto industry has criticized the SEC’s practice of regulating by enforcement rather than issuing clear guidelines. Industry leaders argue that most crypto tokens function more like commodities than securities, a classification that would remove the SEC from the regulatory equation altogether.<h2>What this means for the future of Crypto in the US</h2>The SEC’s decision to withdraw its lawsuit against Binance could be a harbinger of major changes in how digital assets are governed in the US.&nbsp; &nbsp;With both Binance and Coinbase off the legal hook for now, crypto companies may find themselves operating in a more favorable regulatory environment—at least during the current administration.&nbsp;However, the SEC has not ruled out future enforcement in other cases, making it clear that this dismissal should not be interpreted as a blanket approval of the crypto industry’s past conduct.<h2>The road ahead</h2>While this legal victory offers breathing room for Binance and the broader crypto sector, it also raises important questions about the future of investor protections, market transparency, and the regulatory role of federal agencies in the evolving digital economy.&nbsp;As regulatory agencies rethink their approach, one thing is clear: the Trump administration is ushering in a new era for crypto, one that may prioritize innovation over enforcement.

Business & Economy: The decision was made public in a joint court filing, and the SEC stated that the decision was based on policy considerations, not its stance on cryptocurrency regulation. 

In a stunning move that signals a major policy shift under President Donald Trump’s second administration, the US Securities and Exchange Commission (SEC) has officially dropped its civil enforcement case against Binance, the world’s largest cryptocurrency exchange. The decision was made public in a joint court filing submitted on May 29 in a Washington, DC, federal court, as per Reuters. What did SEC say According to Reuters, the SEC said its decision to dismiss the case was based on policy considerations and not a reflection of its stance on cryptocurrency regulation at large. The lawsuit has been dismissed with prejudice, meaning the SEC is legally barred from reopening this specific case in the future. A Binance spokesperson hailed the move as a “landmark moment,” expressing gratitude to SEC Chairman Paul Atkins and the Trump administration. “Innovation can’t thrive under regulation by enforcement,” the spokesperson said, as quoted by Reuters. Background of the Lawsuit According to Reuters, the SEC had initially sued Binance and its founder Changpeng Zhao (commonly known as CZ) in June 2023. The agency reportedly accused the crypto giant of inflating trading volumes, diverting customer funds, and misleading investors about its internal compliance mechanisms. The SEC also alleged that Binance facilitated the trading of multiple tokens that, under President Joe Biden’s administration, were considered unregistered securities. This civil case was entirely separate from Binance’s high-profile criminal settlement in November 2023, in which the exchange pleaded guilty to violating US anti-money laundering and sanctions laws. Binance agreed to pay a record $4.32 billion penalty. Zhao himself served a four-month prison term for anti-money laundering violations and was released in September 2024, as per Reuters. Not just Binance, SEC also dropped Coinbase case According to Reuters, this isn’t the first crypto enforcement rollback under Trump’s new term. In February 2025, the SEC also dropped a similar case against Coinbase, the largest cryptocurrency exchange in the US, which was accused of listing at least 13 unregistered tokens. Both dismissals reportedly reflect a broader recalibration of regulatory posture under Chairman Paul Atkins. Atkins’ vision: Clarity over crackdowns In a speech earlier this month, Atkins emphasized the need for a consistent and transparent regulatory framework. According to Reuters, he stated that one of his top priorities is to create “clear rules of the road” for issuing, trading, and securing digital assets—rules that support innovation while deterring bad actors. For years, the crypto industry has criticized the SEC’s practice of regulating by enforcement rather than issuing clear guidelines. Industry leaders argue that most crypto tokens function more like commodities than securities, a classification that would remove the SEC from the regulatory equation altogether. What this means for the future of Crypto in the US The SEC’s decision to withdraw its lawsuit against Binance could be a harbinger of major changes in how digital assets are governed in the US. With both Binance and Coinbase off the legal hook for now, crypto companies may find themselves operating in a more favorable regulatory environment—at least during the current administration. However, the SEC has not ruled out future enforcement in other cases, making it clear that this dismissal should not be interpreted as a blanket approval of the crypto industry’s past conduct. The road ahead While this legal victory offers breathing room for Binance and the broader crypto sector, it also raises important questions about the future of investor protections, market transparency, and the regulatory role of federal agencies in the evolving digital economy. As regulatory agencies rethink their approach, one thing is clear: the Trump administration is ushering in a new era for crypto, one that may prioritize innovation over enforcement.

The US Securities and Exchange Commission (SEC) has dropped its civil enforcement case against Binance, the world's largest cryptocurrency exchange, marking a significant policy shift under President Donald Trump's second administration.&nbsp;

Trump-era SEC drops Binance lawsuit: Is it a landmark shift in Crypto regulation?