Critics have long warned that Donald Trump's pro-cryptocurrency push as president, coupled with his links to his family's growing crypto empire, creates substantial conflicts of interest that must be probed.

But so far, nothing has stopped Trump's family from seemingly benefiting from the presidency while expanding their empire. And now, Trump is rushing regulation through Congress that many Democrats fear could create his biggest conflict of interest yet.

On Tuesday, the Senate passed the GENIUS Act, a bill that will regulate stablecoins in the US, establishing guardrails and consumer protections that may spur wider crypto adoption nationwide. Unlike more volatile forms of cryptocurrency—like Trump's controversial memecoin—stablecoins' value can be pegged to the US dollar. The crypto industry is hoping the House of Representatives will quickly send the bill to Trump's desk, which Trump has demanded happen by August.

Read full article

Comments

© Bloomberg / Contributor | Bloomberg

Two NYPD officers may have been involved in kidnapping an Italian tourist, according to a new report.

Police have arrested a third suspect linked to one of the most extreme bitcoin-related kidnapping and torture cases in the United States, The New York Times reported.

The arrest came after an Italian man, Michael Valentino Teofrasto Carturan, escaped a luxury Manhattan townhouse after three weeks of alleged imprisonment.

Running to a traffic agent for help, he later told police that he was tortured by colleagues for his bitcoin password, "bound with electrical cords and whipped with a gun," his feet submerged in water while a Taser gun sent jolts through his body, the NYT reported. At times he feared for his life—allegedly once held suspended from the ledge of the fifth-story building—but he seemingly never gave up his password, a resistance that only prompted more extreme violence.

Read full article

Comments

© Leonid Sukala | iStock / Getty Images Plus

Interdimensional travel, sex with aliens, communion with God. Anything is possible with just a sprinkle of DMT. Akasha Song’s secret labs made millions of doses—and dollars—until the feds showed up.

Many of the crypto investors preparing to attend an exclusive gala dinner with US president Donald Trump have offloaded the coins that won them their seats.

Is Trump selling access to the administration in exchange for cryptocoins? On today’s episode of Uncanny Valley, we talk about the ethical concerns associated with TRUMP coin.

After pleading guilty to two counts of fraud, the founder of failed cryptocurrency platform Celsius will serve 12 years in federal prison.

Donald Trump will attend a dinner with the largest holders of his own-brand crypto coin, sending its price through the roof. But the real profits have already been made just out of view.

Under the Trump administration, federal authorities are declining to charge crypto firms with a range of offenses, raising questions about which rules apply—and who will enforce them.