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All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
Warsh’s Jackson Hole speech could shape expectations for Fed support of Treasury buybacks, with implications for bitcoin, gold and long-term yields.
Prosecutors are probing allegations that Zondacrypto’s CEO gave Radosław Piesiewicz a 40,000 euro watch for help with regulatory hurdles.
The changes aim to cut investor selling pressure and channel protocol revenue to ENA as Ethena looks to revive USDe growth.
The courtroom combat across state and federal courts is so far producing roughly split outcomes, suggesting a big job may be coming for the Supreme Court.
The nonprofit consumer advocacy organization Public Citizen reported that US President Donald Trump “left investors at least an estimated $4.7 billion underwater” since 2022 through his and his family’s digital asset ventures.
According to Public Citizen, investors lost billions of dollars through the Trump family World Liberty Financial governance token, the president’s nonfungible token (NFT) trading cards launched in 2022, his memecoin Official Trump (TRUMP) and Trump Media’s digital asset treasury.
The bulk of the estimated losses, according to the organization, came from investors in the TRUMP memecoin, with $3.2 billion lost, while buyers of World Liberty Financial‘s USD1 stablecoin “haven’t suffered major losses.” Public Citizen said that in the case of the memecoin, the losses represented “wealth transferred to a small group of early buyers rather than money that simply vanished.”
Estimated losses for investors in Donald Trump’s crypto ventures. Source: Public Citizen
According to Public Citizen, amid the $4.7 billion in investor losses, Trump earned $7.2 million from the NFT licensing fees and royalties, more than $600 million from World Liberty token sales and selling an equity stake, $635 million in licensing fees for his memecoin and $197 million in revenue from capital contributions to World Liberty. This did not reflect the stakes in companies and ventures he continues to hold. Some of the figures were included in the president’s 2025 disclosures, reporting $1.4 billion in earnings tied to crypto.
Related: Most Americans say the Trump family’s crypto investments are not ‘appropriate’: Poll
Cointelegraph reached out to the White House for comment but did not receive an immediate response. Spokesperson Anna Kelly has repeatedly said in response to questions on Trump’s crypto investments that there were “no conflicts of interest.”
Amid the crypto ventures and more “potentially on the way” from Trump, the group renewed calls for ethics provisions in a cryptocurrency market structure bill, the Digital Asset Market Clarity (CLARITY) Act, claiming that “the president’s policy choices and personal portfolio cannot be separated” and any legislation should require a US president and his family to divest from projects in the industry.
Trump met with crypto company executives last week, calling for a “fair version” of the CLARITY Act to pass once the Senate returns to session next month. The bill is scheduled for a cloture vote on Sept. 15, which will require votes from at least 60 senators to advance.
Magazine: SEC’s proposed crypto rules probably won’t spark new ICO boom
The token hit a $25 million market cap on the back of nine days of unreleased Grand Theft Auto VI footage. Its creator has now sold his stack — hours before Rockstar’s first official gameplay reveal.
Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.
All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
The UK is moving to put stablecoins at the center of a new Bank of England mandate aimed at supporting innovation in digital payments.
The government plans to give the Bank of England, the UK’s central bank, a secondary objective to support innovation in payment systems and emerging forms of digital money, HM Treasury announced on Thursday.
The mandate will cover payment systems that use digital settlement assets such as stablecoins, while financial stability will remain the BoE’s primary objective.
The proposal comes as the UK steps up its work on stablecoins through regulatory changes, payment experiments and closer coordination with the US.
The new responsibility would extend an existing approach used to regulate central counterparties (CCPs) and central securities depositories (CSDs), which help clear, hold and settle financial assets.
Under the proposed change, the central bank would report annually to Parliament on its progress toward the payments innovation objective.
“Developments in digital payments technology, including tokenisation and DLT [distributed ledger technology], have the potential to transform financial markets across the globe,” City Minister Lucy Rigby said.
The government expects to implement the objective through amendments to the Financial Services and Markets Bill, which is scheduled for further debate in the House of Lords on Sept. 7 and 9.
The new mandate’s impact may depend on how BoE uses its annual reporting requirement, Maksym Sakharov, co-founder and CEO of on-chain banking infrastructure provider WeFi, told Cointelegraph.
“The objective is secondary to financial stability, so it overrides nothing, but the bank will have to publish an annual account of its innovation efforts in payments and digital money,” Sakharov said. This requirement could put greater public scrutiny on stablecoin rules the central bank finalized in June.
Related: Binance to plan UK relaunch with FCA license application: Report
Sakharov pointed to requirements for systemic stablecoin issuers to hold at least 30% of their backing assets in non-interest-bearing deposits at the central bank.
“The reserve split is the first thing to fix,” he said, adding that the requirement could determine whether a stablecoin business is commercially viable.
The new mandate follows increasing UK efforts involving stablecoins, or crypto assets designed to maintain a stable value by tracking assets such as the US dollar.
In August, a group participating in the Bank of England’s Digital Pound Lab began testing whether a stablecoin and a simulated digital British pound could work together in a cross-border trade payment. The experimental platform does not use real customers or money.
Related: Revolut rolls out euro stablecoin in 3 European markets
In mid-July, the UK and US published a joint statement on stablecoins, with the governments saying they “intend to enable the use of stablecoins in cross-border finance” and calling for greater alignment of their regulatory frameworks.
BoE also previously dropped plans to limit stablecoin holdings to 20,000 British pounds for individuals and 10 million pounds for businesses, replacing them with a temporary 40 billion pound ($52.9 billion) issuance cap for each systemic stablecoin.
Magazine: MiCA cracks down on USDT in Europe… but no one else cares
Park Hyeon-joo, Mirae Asset Financial Group’s founder, outlined his ambitious stablecoin, RWAs, and STOs plan for Digital X, formerly known as Korbit, in an event for his employees.
