Crypto
Trump Barely Mentions Crypto During Cryptocurrency Interview
Cryptocurrency enthusiasts tuned in to hear former President Donald Trump speak in an X Spaces event about digital currency and his own soon-to-launch crypto venture—but the president gave no details and spent about half the interview talking about the recent assassination attempt that took place in West Palm Beach, Florida.
The interviewer, the president of a cryptocurrency media startup called “Rug Radio,” spent the first portion of the broadcast asking Trump about Sunday’s incident, which Trump recounted in detail.
Over 16 minutes later, Trump finally addressed the topic of the broadcast.
“Crypto is one of those things we have to do,” Trump said. “Whether we like it or not, we have to do it.”
“You’re going to be happy, and you’re going to love your crypto,” he added. “And as long as you have your crypto, you’re happy.”
Trump gave almost no details about his new crypto venture, World Liberty Financial. But more than two hours into the broadcast, some of the company’s co-founders described it as a sort of crypto banking platform, CNBC reported. They said that customers will eventually be able to buy, sell, borrow and lend cryptocurrencies through the platform.
One of the founders, Zak Folkman, also announced the company would launch with its own cryptocurrency token—WLFI.
At least 20% of the initial tokens will be claimed by the company’s founders, 63% will be offered to customers and the remaining 17% will be saved and allocated as customer rewards, according to CNBC.
Trump talked at length about the influence of his sons, Don Jr., Eric, and Barron on the company, and said they had gotten him interested despite some healthy initial apathy toward the industry.
“I think my children opened my eyes more than anything else,” he said.
“Barron’s a young guy, but he knows it. He talks about his wallet, he’s got four wallets or something… But he knows this stuff inside and out,” Trump said. “Eric and Don know it so well, it’s almost like younger people know it a lot better than older people. But I have a lot of respect for them, they’ve shown great judgment—all of them,” he added.
Steve Witkoff, the real estate developer who was golfing with Trump during the incident on Sunday, is reportedly also a key figure in the new venture—along with his son, Zach Witkoff.
A source told the New York Times that the elder Witkoff is taking a hands-on role in the company. He even sat next to Trump during Monday’s interview and answered his own series of questions after Trump signed off.
“I said, ‘Who would understand this better than the Trump family?’” Witkoff said. “We had a meeting initially with Eric, Don Jr., and the president and his counsel. And we said, ‘Let’s go pursue it.’ We’ve been on it for close to nine months.”
Crypto
Convictions Upheld for Defendants in OneCoin Cryptocurrency Case
Two men convicted for their part in the OneCoin cryptocurrency fraud scheme can’t move forward on their appeals, the Second Circuit said Friday.
OneCoin Ltd. and its affiliated offshore companies conducted a Ponzi scheme that recruited investors without providing anything in return, allegedly making $4 billion. The scheme allegedly offered commissions to members for recruiting others to buy packages of the worthless OneCoin cryptocurrency. At its height, OneCoin claimed to have more than 3 million members worldwide.
As a result of the scheme, Karl Sebastian Greenwood pleaded guilty to conspiracy to commit wire fraud, wire fraud, and conspiracy to commit …
Crypto
How to protect yourself from crypto scams
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Crypto
Kraken Resumes Staking For US Customers
Key Takeaways
- Crypto exchange Kraken has reintroduced crypto staking services for its customers in the U.S.
- Kraken was previously sued by the SEC for offering similar services.
- The move by Kraken is yet another sign that the regulatory environment for crypto companies in the U.S. is changing rapidly since President Trump returned to office.
Cryptocurrency exchange Kraken is reintroducing staking services for U.S. customers again.
Kraken’s decision to resume staking comes nearly two years after it settled charges with the SEC, which had previously forced it to halt staking services and pay a $30 million fine for offering unregistered securities.
Staking is a process by which crypto investors can pledge and lock their tokens to a pool which is then used toward validating transactions. Successful validators receive rewards for verifying information on the blockchain, and those rewards are shared with investors who staked their assets.
Kraken Pro users in 37 states and two territories will be able to stake 17 digital assets including Ethereum (ETHUSD), Solana (SOLUSD), Polkadot (DOTUSD), and Cardano (ADAUSD).
This could be yet another sign that the crypto landscape is changing quickly under President Donald Trump’s second administration. In his first week in office, Trump signed an executive order on digital assets, and the Securities and Exchange Commission has become more friendly to the crypto industry.
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