OKX Opens Airdrop for Venezuelan Earthquake Victims

OKX, one of the largest cryptocurrency exchanges by volume, has taken action to help Venezuelan users affected by the twin earthquakes that left over 2,000 dead and hundreds of buildings collapsed.

On social media, using its Latam account, OKX referred to the twin earthquakes that hit Venezuela on June 24, 2026, and how the cryptocurrency community has responded to this event in one of the Latam countries with growing crypto adoption.

“We know that these days have been difficult. But we have also seen something extraordinary: the solidarity of Venezuela and the entire international community, which fills us with hope,” it declared.

To help Venezuelan users in regions hit by the natural disaster, OKX announced it will distribute 20 USDT to each user with proof of address (POA) verifying they reside in La Guaira, the state most affected by the twin earthquakes.

While OKX did not disclose the total funds available for this initiative, it pointed out that support was limited and would be distributed on a “first-come, first-served” basis.

The funds will be automatically credited to the accounts that fulfill the POA requirement. “No registration, claim code, or qualifying transaction is required; the 20 USDT reward is automatically credited once eligibility is confirmed,” the exchange explained.

“We know that the road ahead will require effort, help, and support from everyone for a long time. But you will not walk it alone. We are one region, and we will be with you on this journey. We stand with you, Venezuela.” OKX concluded.

OKX’s relief efforts follow a similar campaign by Binance. The most popular exchange in Venezuela pledged $3 million to users residing in La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón, and Yaracuy, offering a similar path for users to reclaim 20 USDT via redeemable vouchers.

Donald Trump made $1.4bn (approximately £1bn) from his cryptocurrency dealings in his first year back in office, in what his former White House lawyer has described as part of “the greatest onslaught of corruption in the history of mankind.”

Overall, Trump pulled in at least $2.2bn (£1.65bn) from his vast holdings, including real estate assets, in 2025. By comparison, his enterprises pulled in $662m (£495m) in 2024 before he returned to the presidency. 

The US president – who denies any wrongdoing – received around $500m (£374m) from $WLFI, the digital currency sold by his family’s main crypto firm World Liberty Financial (WLF).

Trump also got a windfall from his $TRUMP meme coin, which was launched three days before his inauguration and earned him more than $600m (£449m).

The coin was dismissed as a ‘pump-and-dump scheme’ by analysts and led to hundreds of thousands of mostly small investors losing money.  

The figures were released as part of Trump’s 927-page mandatory financial report for 2025.

An additional $500m (£374m) deal – struck days before his second inauguration in January 2025 – to sell 49% of WLF to representatives of a high-ranking Emirati royal has invited accusations of corruption. 

The deal saw $187m (£140m) of the initial payment steered to entities controlled by the Trump family, according to the Wall Street Journal. 

Months later, the UAE got the green light to import 500,000 Nvidia AI chips, despite concerns from US security officials.

Former White House lawyer Ty Cobb, who was part of the Trump administration’s legal team between 2017 and 2018, accused the president of violating parts of the constitution designed to prevent federal officials from engaging in corruption or being unduly influenced by foreign powers. 

“Several hundred million dollars related to those coins,” Cobb told CNN. “How can that be anything other than trading on his image and likeness in violation of the emoluments clause?”

He added: “We are seeing the greatest onslaught of corruption in the history of mankind in the last 18 months.” 

The White House has called the accusation “bogus and irrelevant”. Trump denied that he was profiting from the presidency, adding: “We have funds that run my money.”

“He got richer,” California’s governor Gavin Newsom posted on X. “His crypto supporters got rug-pulled.”

Lee Reiners, a former Federal Reserve Bank examiner who now specialises in cryptocurrency, told the New York Times: “It is hard to wrap your head around that the president of the United States would engage in this level of self-enrichment at the expense of so many of his supporters.”  

He added: “This is a president of the United States who has made more money off crypto since he took office than he made in any prior year in his entire business career.”

Limited July Schedule Raises Urgency for Floor Vote

Efforts to pass a federal crypto market-structure bill have entered a critical phase as the Senate remains in recess until July 13. The advocacy group Stand With Crypto on July 1 urged supporters to contact Senators and push for a floor vote on the Digital Asset Market Clarity Act, or CLARITY Act, before lawmakers leave for the August recess.

The timeline leaves a narrow window for action following months of committee work and industry lobbying. Supporters say the bill would reduce regulatory uncertainty by establishing clearer federal rules for digital asset issuers, trading platforms, developers, and market participants.

“The Senate is in recess. The clock on Clarity is running,” Stand With Crypto noted on X, adding:

“The window before the August recess is short, and when Senators return on July 13, they can vote on the Clarity Act to end years of regulatory guesswork. Don’t let the window close. Call your Senators to schedule a vote on Clarity.”

The legislation advanced in June when the Senate Banking Committee approved H.R. 3633 in a bipartisan 15-9 vote. The bill outlines agency oversight, registration pathways for crypto firms, consumer protections, and compliance standards across digital asset markets.

Lawmakers return to Washington on July 13 after the Independence Day recess, leaving Congress with just eight legislative business days before the planned August recess. The compressed schedule gives lawmakers limited time to consider the CLARITY Act alongside annual defense and government funding legislation.

Industry Groups Increase Pressure on Senate Leadership

Industry advocacy has intensified as the legislative calendar tightens ahead of the 2026 midterm elections. More than 200 organizations, including Coinbase, Ripple, Kraken, Circle, Binance.US, Uniswap Labs, Paradigm, Andreessen Horowitz, and Stand With Crypto chapters, have urged Senate leaders to bring the bill to the floor.

Mason Lynaugh, policy director at Stand With Crypto, said:

“There’s a limited window to get this done, with few remaining days left in the current Congress before the midterm elections. If Senate leaders don’t schedule a CLARITY Act vote in the coming weeks, an enormous amount of bipartisan work, compromise, and progress, could be wasted.”

Ripple has also promoted the effort in Washington, D.C., including a branded CLARITY truck near Capitol Hill to raise visibility as lawmakers consider crypto legislation.

Stand With Crypto cited polling showing nearly three-quarters of surveyed crypto owners in Senate battleground states are more likely to support candidates who favor clearer cryptocurrency rules. The group also reported that more than one-third of respondents use digital assets for personal transfers, while 21% use them for monthly expenses.

Despite the momentum, analysts remain cautious. Galaxy Research lowered its 2026 passage estimate for the CLARITY Act to 50-50 from 60%, citing the absence of a scheduled Senate floor vote, no motion to proceed, and no unified text between Senate committees.