Latest news with #decentralizedFinance
CBS News
3 days ago
- Business
- CBS News
JD Vance says "crypto finally has a champion" in the White House during Bitcoin conference speech
Vice President JD Vance on Wednesday touted the Trump administration's ties with the cryptocurrency industry — a once-fringe business that President Trump and his allies have embraced in recent months. "I'm here today to say loud and clear, with President Trump, crypto finally has a champion and an ally in the White House," Vance told the Bitcoin 2025 Conference in Las Vegas. The Trump administration has leaned into cryptocurrency, looking to ease regulations, promote growth in the industry, and bring it into the mainstream. A longstanding backer of cryptocurrencies, Vance owned between $250,000 and $500,000 worth of Bitcoin, according to an August 2024 financial disclosure. "We want our fellow Americans to know that crypto and digital assets and particularly Bitcoin, are part of the mainstream economy, and are here to stay," Vance said Wednesday. Vance said it's been a while since he's been to a conference with "this level of energy," adding, "but I promise I'm not just saying that to juice my own memecoins." Vance gave few policy specifics in his speech. But he insisted that, through decentralized finance, crypto has "transformed" how Americans make transactions and acts as a "hedge" against bad policy. "Crypto is a hedge against bad policymaking from Washington, no matter what party's in control," he said. "It's a hedge against skyrocketing inflation, which has eroded the real savings rates of Americans over the last four years. And as you all know well, it's a hedge against a private sector that's increasingly willing to discriminate against consumers on the basis of their basic beliefs, including their politics." Vance urged Congress to pass the GENIUS Act, which would create a regulatory framework for stablecoins. Stablecoins are a type of crypto tied to an underlying asset such as the U.S. dollar. "In this administration, we do not think that stablecoin's threatened the integrity of the United States dollar, quite the opposite," Vance said Wednesday. "In fact, we view them as a force multiplier of our economic might." Vance said he knows a lot of people in 2024 chose to "speak up" and "get involved," and he needs them to step up again. "Unless you guys get involved in politics, politics is going to ignore this industry," Vance said. "... While Bitcoin is digital, none of you are. None of us are. What happens in the world of politics, what happens in the world of bureaucracy, it will affect even the most transformational and valuable technologies if we don't make the right decisions. So the first piece of advice, the first thing that I'd ask you, is to take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond." The Las Vegas event is also featuring a handful of other Trump backers: His two eldest sons Donald Trump Jr. and Eric Trump, who have invested in crypto ventures, are speaking Wednesday on a panel about "the rise of new bitcoin business models." Chris LaCivita, who co-managed Mr. Trump's 2024 campaign, and David Sacks, a venture capitalist who serves as the White House's crypto czar, spoke on Tuesday. Vance is the highest-ranking sitting politician to address the Bitcoin Conference, which describes itself as "the world's largest gathering of bitcoiners" and often draws crypto-friendly lawmakers. Mr. Trump, then a presidential candidate, was the headline speaker last year. Vance headlined a fundraiser hosted by MAGA Inc. on Tuesday night in Las Vegas, where tickets were priced at $1 million a head, CBS News has learned. The fundraiser was first reported by The Washington Post. Bitcoin — and cryptocurrency more generally — has grown in prominence and drawn allies from both parties, despite skepticism about its volatility. The price of Bitcoin, the world's most widely used cryptocurrency, has leaped nearly 60% in the last year. Mr. Trump was once a crypto skeptic, calling Bitcoin a "scam" whose value is "based on thin air." But in his second term, he has enthusiastically boosted crypto and promised to reverse strict Biden-era regulations. Mr. Trump and his family also have financial interests in crypto, which makes up $2.9 billion of his net worth, according to one recent report. Trump Media and Technology Group, the parent company of Truth Social, announced Tuesday it is raising $2.5 billion to invest in Bitcoin. Meanwhile, businesses linked to the president launched a Trump-branded "meme coin" earlier this year, and Mr. Trump hosted the digital currency's top investors at his Virginia golf club last week. The president and his sons are linked to crypto exchange World Liberty Financial. And Eric Trump co-founded a Bitcoin mining venture that's seeking to go public. The moves have drawn criticism from Democrats and some ethics experts who argue Mr. Trump's crypto ventures pose a conflict of interest, and investing in them could be a quick route to gaining access to the president. The GENIUS Act, the once-bipartisan Senate bill aimed at regulating stablecoins, bled support after Democratic lawmakers pushed for restrictions on elected officials buying or selling crypto — with some Democrats directly citing Mr. Trump's crypto investments. Senators ultimately voted to advance the bill earlier this month. The White House has strongly denied any conflict-of-interest issues, saying Mr. Trump's assets are held in a trust managed by his children. Joe Walsh Joe Walsh is a senior editor for digital politics at CBS News. Joe previously covered breaking news for Forbes and local news in Boston. contributed to this report.
Bloomberg
4 days ago
- Business
- Bloomberg
Wall Street, DC Consider Stablecoins
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: Perena Founder Anna Yuan, Blockstream CEO Adam Back, Bloomberg's Michael Regan, and Anthony Cormier. (Source: Bloomberg)
Forbes
21-05-2025
- Business
- Forbes
Trump Crypto Venture World Liberty Financial Partners With KuCoin, Exchange Banned In U.S., Fined $300 Million
Donald Trump's crypto venture launched its stablecoin Wednesday on an exchange recently banned from the United States after admitting to violating anti-money laundering laws and agreeing to pay a $300 million fine. President Donald Trump speaks at the Bitcoin 2024 Conference in July in Nashville. (AP Photo/Mark ... More Humphrey, File) Trump is also the chief crypto advocate and inspiration for World Liberty Financial, a decentralized finance platform launched in September 2024 with the involvement of his three sons. Trump and his family control about 60% of the company through an LLC, according to World Liberty Financial's website. World Liberty Financial's USD1 stablecoin, a cryptocurrency whose value is pegged to the U.S. dollar, began trading Wednesday on KuCoin, a crypto exchange headquartered in the Seychelles. KuCoin pleaded guilty in the United States in January to one count of operating an unlicensed money transmitting business, agreeing to pay almost $300 million in penalties and exit the U.S. market for at least two years. KuCoin's indicted cofounders, Chun Gan and Ke Tang, also agreed to no longer have any role in the company's management or operations, according to the Justice Department, which deferred prosecution against them for two years. Spokespeople for the White House, World Liberty Financial, the Trump Organization and KuCoin did not immediately respond to inquiries. Trump can earn income from his businesses while in office through the Donald J. Trump Revocable Trust, the same structure he used during his first term. He is its sole donor and beneficiary, while Donald Trump Jr. serves as the trustee. The Trump Organization confirmed in an April court filing in Britain that Trump retains control over his businesses. As president, he has pledged to make the United States the 'crypto capital of the world,' aligning with his expanding investments in digital assets. While there's no evidence World Liberty Financial and KuCoin's talks mentioned the plea agreement it reached with the Justice Department earlier this year, other Trump business associates have personally benefited from his administration's actions. For example, Chinese blockchain entrepreneur Justin Sun invested $30 million in World Liberty Financial tokens just weeks after Trump's election. Soon after Trump's inauguration, Trump's SEC asked a judge to pause its fraud case against Sun to 'explore a potential resolution.' 'For years, KuCoin avoided implementing required anti-money laundering policies designed to identify criminal actors and prevent illicit transactions,' U.S. Attorney for the Southern District of New York Danielle R. Sassoon said in a statement announcing the plea deal. 'As a result, KuCoin was used to facilitate billions of dollars' worth of suspicious transactions and to transmit potentially criminal proceeds, including proceeds from darknet markets and malware, ransomware, and fraud schemes.' 'It's not terribly surprising to me,' Molly White, a crypto researcher, told Forbes of USD1's trading on KuCoin. 'It's also listed on [crypto exchanges] HTX and MEXC, neither of which serve U.S. customers for regulatory reasons.' The terms of the deal between World Liberty Financial and KuCoin are not clear. Typically both parties earn trading fees, while some exchanges also charge listing fees and generate additional profits from market making, White said. An ethics white paper the Trump Organization released in January noted the Constitution does not bar a president from owning, operating or managing a private business. But to 'avoid even the appearance of any conflict,' the company said it hired an outside ethics adviser and Trump pledged to continue to keep his assets in a trust and not manage the company directly. (The Trump Organization has since fired that adviser at Trump's instruction.) Trump once called for heavy regulation of crypto, telling Fox Business in 2021, 'I don't think we should have all of the bitcoins of the world out there.' Senate Democrats introduced the End Crypto Corruption Act earlier this month, which would bar presidents and other officials from 'issuing, endorsing or sponsoring crypto assets.' $2.14 billion: USD1's market cap, according to Coinbase, a crypto trading platform. U.S. Attorney Danielle Sassoon, who announced KuCoin's plea deal, resigned in February after the Justice Department sought to drop corruption charges against New York City Mayor Eric Adams. Decentralized finance (DeFi) platforms like World Liberty Financial let users trade, borrow and lend crypto without banks. Stablecoins—such as the USD1 token—are digital currencies pegged to a traditional asset, like the U.S. dollar. The firms behind stablecoins typically profit from trading fees and interest earned on deposits. Forbes estimates Donald Trump is worth about $5.3 billion, with much of his wealth coming from his shares in Trump Media. Trump Businesses Hauled In $317,000 From RNC In March—Even As Crypto Ventures Soar (Forbes) Donald Trump Is Invested In Cryptocurrency (Forbes) Trump's Sons Invest In AI Data Centers After He Touts Billions In Industry Expansion (Forbes) Trump Media Executives Launch New SPAC Seeking $179 Million—And Target Crypto, Defense Sectors (Forbes) How Truth Social And Crypto Helped Trump Double His Fortune In Just One Year (Forbes) How Trump's Bitcoin Policies Are Making The U.S. A Crypto Superpower (Forbes) Trump's Crypto Reserve Hit With Unexpected Backlash From Billionaire Allies (Forbes)
Zawya
21-05-2025
- Business
- Zawya
3 game-changing best cryptos to buy for hold long-term in 2025 that could redefine wealth
With regulatory markets shifting rapidly and major economies cautiously embracing digital assets, market dynamics are flourishing in ways few could have predicted just months ago. For instance, recent policy announcements from major Central Asian countries emphasizing blockchain adoption have propelled certain crypto projects into the spotlight. Qubetics is among those gaining traction, recognized for its resilient architecture, real-world utility, and forward-thinking approach to decentralized finance and AI integration. This surge in activity highlights an urgent need to identify the best cryptos to buy for long-term hold—projects like Qubetics that combine durability, innovation, and strong growth potential. Contents1. Qubetics ($TICS): A New Paradigm in Blockchain Interoperability and Cross-Border SolutionsLatest Developments Driving Qubetics' MomentumApplication Spotlight: Cross-Border Transactions and Central Asian Business Integration2. Tron (TRX): Strengthening Decentralized Content and DApp Ecosystems3. Cronos (CRO): Bridging Crypto Finance and Real-World UsabilityConclusionFor More Information: Among the digital assets gaining renewed attention, Qubetics ($TICS) stands out by addressing core real-world challenges previously overlooked by many predecessors. With its advanced blockchain interoperability solutions and a focus on practical applications across Central Asia and beyond, $TICS is making significant waves during its crypto presale stages. Meanwhile, established players like Tron and Cronos CRO continue to refine their platforms with upgrades enhancing scalability and cross-chain functionality. These developments firmly establish these tokens as the Best cryptos to buy for hold long-term for participants aiming at sustainable gains. Identifying the Best cryptos to buy for hold long-term remains crucial amid the dynamic 2025 crypto market. 1. Qubetics ($TICS): A New Paradigm in Blockchain Interoperability and Cross-Border Solutions Qubetics has rapidly distinguished itself as a pioneering force within the blockchain ecosystem, particularly through its focus on interoperability and real-world usability. Currently in the 35th stage of its crypto presale, Qubetics has already sold over 513 million tokens to a holder base exceeding 26,700 individuals. The crypto presale has amassed more than $17.1 million, with tokens priced attractively at $0.2785 each during this phase. Latest Developments Driving Qubetics' Momentum The project's latest milestones reflect a strategic roadmap geared towards seamless multi-chain operations and decentralized finance integration. Recently, Qubetics successfully launched its Non-Custodial Multi-Chain Wallet, designed to empower users across diverse blockchain networks without compromising security or control. This development positions $TICS not merely as a speculative asset but as a practical tool that addresses persistent issues in crypto usability. Moreover, the Qubetics development team announced the upcoming launch of QubeQode and Qubetics IDE applications, aiming to facilitate decentralized application development and blockchain coding in an intuitive environment. Such initiatives are critical in broadening ecosystem participation, especially among developers in Central Asia's emerging tech hubs. Analysts project promising returns based on current market momentum: Price at $1 post-presale could yield a 258% at $5 post-presale surge implies a 1694% launch valuations reaching $15 would represent a staggering 5284% Spotlight: Cross-Border Transactions and Central Asian Business Integration Qubetics is engineered to resolve cross-border transaction inefficiencies prevalent in Central Asia, where complex regulatory environments and currency volatility pose significant challenges. Imagine a business in Kazakhstan needing to settle payments with suppliers in Uzbekistan and Russia while navigating fluctuating exchange rates and slow banking processes. Using Qubetics' blockchain infrastructure, these transactions become near-instantaneous and cost-efficient, bypassing traditional intermediaries. Key features enabling this transformation include: Decentralized Ledger Transparency: Ensures real-time tracking and verification of transactions without reliance on centralized Compatibility: Supports various blockchains to interoperate smoothly, increasing liquidity and asset movement Transaction Fees: Eliminates exorbitant cross-border bank fees, preserving capital for core business Contract Automation: Automates settlement processes based on predefined conditions, reducing manual errors and delays. This infrastructure opens doors for SMEs and larger enterprises in Russia, Ukraine, Belarus, and other Central Asian countries to engage confidently in international commerce without typical friction. Why did this coin make it to this list? Qubetics exemplifies the intersection of innovation and necessity by tackling one of the most persistent pain points in the regional economy. The presale traction, robust development roadmap, and its strategic focus on interoperability ensure that $TICS is a compelling candidate among the Best cryptos to buy for hold long-term in 2025. 2. Tron (TRX): Strengthening Decentralized Content and DApp Ecosystems Tron remains a dominant force in the blockchain arena, particularly in decentralized content delivery and decentralized application (DApp) ecosystems. Recent protocol upgrades have enhanced network throughput and lowered transaction costs, making TRX increasingly attractive for holders focused on long-term appreciation. The launch of the Tron Virtual Machine (TVM) upgrade has bolstered smart contract execution speed and developer accessibility. Coupled with a growing DeFi ecosystem and partnerships with gaming and NFT platforms, Tron maintains relevance amid intensifying competition. This is especially critical as decentralized finance and Web3 applications drive broader blockchain adoption. Why did this coin make it to this list? Tron's ability to continually upgrade its network performance while fostering vibrant DApp communities contributes to its standing as one of the Best cryptos to buy for hold long-term. Its proven resilience and widespread adoption set the stage for sustained growth potential. 3. Cronos (CRO): Bridging Crypto Finance and Real-World Usability Cronos (CRO) has carved a niche as a hybrid platform combining crypto finance with user-centric applications. Powered by the exchange, CRO benefits from one of the largest crypto user bases and access to traditional financial markets. The Cronos chain recently integrated advanced staking features and liquidity mining incentives designed to retain and expand its community. The platform's interoperability with Ethereum and Binance Smart Chain enhances asset mobility, a critical factor for long-term holders seeking diversification across multiple DeFi ecosystems. Why did this coin make it to this list? The combination of a robust backing exchange, continuous platform enhancements, and expanding cross-chain integrations place Cronos among the Best cryptos to buy for hold long-term. Its blend of finance and technology promises to unlock new opportunities for asset appreciation. Conclusion Based on research and analysis, the growing regulatory market and technological innovations underscore the importance of carefully selecting digital assets with solid fundamentals and real-world use cases. Qubetics ($TICS), Tron (TRX), and Cronos (CRO) collectively represent diverse yet complementary facets of the crypto ecosystem. Their unique value propositions — ranging from interoperability and cross-border transaction facilitation to decentralized content networks and hybrid finance platforms — position them as front-runners among the Best cryptos to buy for hold long-term. For those seeking sustainable growth opportunities, these coins offer a compelling blend of innovation, utility, and market traction. The momentum observed in Qubetics' crypto presale phase, alongside Tron's technical advancements and Cronos' expanding financial integrations, confirms their standing as some of the Best cryptos to buy for hold long-term in 2025. Navigating crypto markets with such assets maximizes potential for enduring portfolio appreciation. For More Information:Qubetics: Presale: Twitter: Frequently Asked Questions Q1: What makes Qubetics a strong candidate for long-term holding? Qubetics addresses blockchain interoperability and real-world cross-border transaction challenges, backed by robust presale performance and promising ROI projections. Q2: How is Tron growing to maintain its market position? Tron continues to enhance network speed, reduce fees, and expand its DApp ecosystem, particularly through recent TVM upgrades and strategic regional partnerships. Q3: What advantages does Cronos offer for crypto holders? Cronos benefits from integration with advanced staking features, liquidity incentives, and interoperability with major blockchains, increasing its usability and growth potential. Q4: Are these coins suitable for beginners in cryptocurrency? While all three coins offer strong long-term potential, thorough research and understanding of market dynamics are recommended before investing.
Bloomberg
20-05-2025
- Business
- Bloomberg
Trump To Host Memecoin Dinner
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: BitGo CEO Mike Belshe, Ledger Chief Experience Officer Ian Rogers, and Bloomberg's Lydia Beyoud and Olga Kharif. (Source: Bloomberg)
