Latest news with #$Trump
Business Insider
14 hours ago
- Business
- Business Insider
Mark Cuban thinks the Trump phone could be all about crypto fees
Mark Cuban thinks the Trump smartphone announced Monday may include a crypto wallet linked to Trump coins. He said it may generate fees through $Trump and stablecoin transactions. The phone is the latest moneymaking venture from the family of President Donald Trump. Mark Cuban believes that the real money-making idea behind the Trump Phone might not be the device itself — but what's inside it. After Donald Trump Jr and Eric Trump unveiled a new Trump-branded smartphone on Monday, the billionaire investor floated a provocative theory on X. He thinks the $499 gold "T1" phone is likely about making crypto cash. "I think the smart game they are probably playing is to put a crypto wallet on the phone that leverages WLF, $Trump, and their stable coins," Cuban posted in response to the product launch. WLF is a reference to crypto firm World Liberty Financial that's connected with the Trumps. "Whatever transactions they can create generates fees for them, and there are so many way to sell things and pre-load whatever they want," he added. Earlier this year, President Donald Trump launched his own meme coin, $Trump, which soared north of $70 billion at its valuation peak in mid-January. A private dinner for top holders of the coin late last month required an average investment of nearly $1.8 million to attend, NBC News reported. According to blockchain analytics firm Chainalysis, the coin's backers, including Trump's family and a network of affiliate companies, have already earned over $350 million in trading fees. Trump Media & Technology Group also filed documents with the Securities and Exchange Commission seeking approval of a new bitcoin and ether ETF on Monday, with the fund aiming to invest 75% of its assets in bitcoin and 25% in ethereum — increasing the family's entrenchment in crypto. The T1 phone Eric Trump told Fox Business on Monday that the T1 would "revolutionize cellphones," while Trump Jr touted it as a "true value" American-made alternative to mainstream operators at a press conference in New York City. It's unclear who is making the devices. Cuban also said on X: "I just want to know who makes them and where." If Cuban's theory is right, the Trump phone could be a portal to a Trump-branded Web3 ecosystem preloaded with wallets, digital assets, and transaction-generating features. There is no mention on the Trump Mobile website of cryptos. Trump Jr said the venture would offer roadside assistance and telemedicine services as well as wireless coverage and the smartphone.
Yahoo
15-05-2025
- Business
- Yahoo
It looks like stablecoins are about to go mainstream
Stablecoins are nearing mainstream adoption as the US advances regulatory legislation. Stablecoins are digital currencies pegged to more traditional assets like the US dollar or gold. The market cap of stablecoins rose from $20 billion in 2020 to $246 billion in May 2025, Deutsche Bank said. Stablecoins aren't far from becoming mainstream, per Deutsche Bank. Marion Laboure, managing director of thematic research at the German multinational investment bank, and analyst Camilla Siazon wrote in a presentation that the coins are likely to start being more widely used this year as the US pushes forward with legislation to regulate the crypto market. Stablecoins are a type of decentralized digital currency that can be bought and sold on a blockchain, similar to cryptocurrencies like bitcoin and ether, and meme coins, such as $Trump and Dogecoin. The most prominent stablecoin is Tether, with an overall market capitalization of around $150 billion, per CoinMarketCap, but dozens of others also exist. Deutsche Bank said the sector has a market capitalization of $246 billion. The difference between stablecoins and regular cryptocurrencies is that stablecoins are pegged to other assets, often commonly used and relatively secure ones, including safe havens like the US dollar or gold. One stablecoin might be equal to one dollar, with the coin's value rising and falling alongside the dollar. Both the House bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, and the Senate bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, aim to create a regulatory framework for dollar-denominated stablecoins. Crypto legislation has faced some backlash. Senate Democrats have rallied against the GENIUS Act over concerns about President Donald Trump and his family's links to the industry. Both Trump and his wife Melania have cryptocurrencies bearing their names, which launched soon after he became president. The market capitalization of stablecoins has soared from $20 billion in 2020 to its current level, a more than 1200% surge. The coins also saw $28 trillion in transfer volume — the value of coins traded — last year, surpassing the levels of transfers made using major credit and debit card providers like Visa and Mastercard. "They now power over two-thirds of crypto-trading," the analysts said. The analysts wrote that 83% of fiat currency-backed stablecoins are backed by the dollar. Over $120 billion in dollar reserves are held in stablecoins. Deutsche Bank said $99 billion in US Treasury bills are held in Tether, making it one of the top stores of US government debt worldwide. Deutsche Bank's analysts predict that mainstream adoption of stablecoins will lead to overall increased demand for US Treasurys. "They are now integral to digital dollar infrastructure, transforming FX, liquidity, capital flows, and payment innovation," Laboure and Siazon said. "US regulation will bring clarity, enabling mainstream use cases and deeper financial integration." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
15-05-2025
- Business
- Business Insider
It looks like stablecoins are about to go mainstream
Stablecoins are nearing mainstream adoption as the US advances regulatory legislation. Stablecoins are digital currencies pegged to more traditional assets like the US dollar or gold. The market cap of stablecoins rose from $20 billion in 2020 to $246 billion in May 2025, Deutsche Bank said. Stablecoins aren't far from becoming mainstream, per Deutsche Bank. Marion Laboure, managing director of thematic research at the German multinational investment bank, and analyst Camilla Siazon wrote in a presentation that the coins are likely to start being more widely used this year as the US pushes forward with legislation to regulate the crypto market. Stablecoins are a type of decentralized digital currency that can be bought and sold on a blockchain, similar to cryptocurrencies like bitcoin and ether, and meme coins, such as $Trump and Dogecoin. The most prominent stablecoin is Tether, with an overall market capitalization of around $150 billion, per CoinMarketCap, but dozens of others also exist. Deutsche Bank said the sector has a market capitalization of $246 billion. The difference between stablecoins and regular cryptocurrencies is that stablecoins are pegged to other assets, often commonly used and relatively secure ones, including safe havens like the US dollar or gold. One stablecoin might be equal to one dollar, with the coin's value rising and falling alongside the dollar. Both the House bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, and the Senate bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, aim to create a regulatory framework for dollar-denominated stablecoins. Crypto legislation has faced some backlash. Senate Democrats have rallied against the GENIUS Act over concerns about President Donald Trump and his family's links to the industry. Both Trump and his wife Melania have cryptocurrencies bearing their names, which launched soon after he became president. The market capitalization of stablecoins has soared from $20 billion in 2020 to its current level, a more than 1200% surge. The coins also saw $28 trillion in transfer volume — the value of coins traded — last year, surpassing the levels of transfers made using major credit and debit card providers like Visa and Mastercard. "They now power over two-thirds of crypto-trading," the analysts said. The analysts wrote that 83% of fiat currency-backed stablecoins are backed by the dollar. Over $120 billion in dollar reserves are held in stablecoins. Deutsche Bank said $99 billion in US Treasury bills are held in Tether, making it one of the top stores of US government debt worldwide. Deutsche Bank's analysts predict that mainstream adoption of stablecoins will lead to overall increased demand for US Treasurys. "They are now integral to digital dollar infrastructure, transforming FX, liquidity, capital flows, and payment innovation," Laboure and Siazon said. "US regulation will bring clarity, enabling mainstream use cases and deeper financial integration."
Time of India
06-05-2025
- Business
- Time of India
Trump's crypto ventures cause tensions to bubble over as Democratic lawmaker scuttles key hearing
Live Events Tensions on Capitol Hill over President Donald Trump's various cryptocurrency ventures escalated on Tuesday and threatened to derail the digital asset sector's hope of legislation by the end of this year as a top Democratic lawmaker stalled efforts to debate a Congress had appeared likely earlier this year to pass legislation governing digital assets for the first time, Democrats have grown increasingly frustrated as Republican Trump and his family members have promoted their personal crypto projects. Representative Maxine Waters ' objection to a joint hearing scheduled for Tuesday effectively cancelled proceedings between the House Financial Services Committee and the House Agriculture Committee, which were due to discuss creating a new legal regime for crypto ventures include a so-called meme coin called $Trump, launched in January, and a business called World Liberty Financial , a crypto company owned partly by the president. Trump on social media has promoted a private dinner later this month for the top holders of his meme coin, along with a "special VIP tour" for a select few business endeavors have drawn criticism from government ethics experts and political opponents over potential conflicts of interest, especially because Trump courted cash from the crypto industry on the campaign trail and pledged to overhaul regulations for the have also put further legislation this year related to cryptocurrency in doubt as some lawmakers have expressed concern about self-dealing."I cannot in good faith agree to such a hearing to discuss crypto market structure while Republicans refuse to stop or even acknowledge Trump's abuse of power," Waters said in a statement ahead of the scheduled French Hill, the Republican chairman of the House Financial Services Committee, said that Waters objecting to Tuesday's hearing "has thrown partisanship into what has historically been a strong, good, working bipartisan relationship."In a statement, Anna Kelly, the White House deputy press secretary, said there were no conflicts of interest and that Trump's assets are in a trust managed by his children.'President Trump is dedicated to making America the crypto capital of the world and revolutionizing our digital financial technology," she Trump's crypto arrangements have threatened to derail legislation that was once considered near certain by analysts and lobbyists to pass this year. Congress is also debating a bill to create a regulatory framework for stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar Democrats have expressed concerns about the bill, especially after World Liberty Financial announced last week that its stablecoin would be used by an Abu Dhabi investment firm for its $2 billion investment in crypto exchange White House wants that bill to pass the Senate by next week, according to a source familiar with the discussions. But some Democrats said on Saturday that Republicans had failed to negotiate on stronger provisions related to foreign stablecoin issues and anti-money-laundering protections, and that they would be unable to support the bill as it currently stablecoin bill could still pass the Senate, in which Republicans hold the majority, but could pose a setback for the crypto industry which has tried to portray digital asset regulation as a bipartisan issue.
Yahoo
23-04-2025
- Business
- Yahoo
$Trump coin is surging again on plans for a dinner with the president and the token's top holders
$Trump coin surged as much as 71%Wednesday after plans were announced for an investor dinner with the president. A dinner for the top 220 token holders is scheduled for May 22 in Washington, D.C. The top 25 holders will attend a reception and a VIP White House tour, according to the token's website. The $Trump token soared as much as 71% on Wednesday after the project's organizers said President Donald Trump will attend a dinner for the top 220 holders of the meme coin. The token, launched days before Trump's inauguration in January, hit an intraday high of $16.17 but pared its gains to about 41% at $13.39 at 1:02 p.m. in New York. It's the highest price for the token since the beginning of March. According to the official website of the meme token, Trump will be in attendance at a dinner scheduled for May 22. The website read, "Have Dinner in Washington, D.C. With President Trump!" and added, "Will YOU be Having Dinner with PRESIDENT TRUMP?" Trump sparked a cryptocurrency bonanza earlier this year following his inauguration. In addition to minting his own meme coin, first lady Melania Trump also issued a $Melania token. The president has also made a push into the stablecoin arena via Liberty One Financial, a digital assets venture backed by Trump and his sons. The $Trump coin site said the top 25 holders of the token would be invited to an exclusive reception with Trump before the dinner. "PLUS, We have separately arranged for a Special VIP White House Tour for you - so make sure you stay in town," the website reads. A disclosure on the website said the tour is being arranged by FightFightFight LLC and that Trump is appearing at the dinner "as a guest and not soliciting any funds for it." To be eligible to attend, if selected, holders cannot be from a KYC watchlist country, they must pass a background check, and cannot bring guests. Read the original article on Business Insider Sign in to access your portfolio
