The GENIUS Act stablecoin bill has stalled in the Senate with key Democrats — including some of its early co-sponsors — voting against it. Democratic opposition increased after Trump’s World Liberty Financial cryptocurrency platform released its own stablecoin, allowing the president to profit from transactions including a $2 billion deal between the Emirati state-owned investment firm and the Binance crypto platform.

Senators who voted against the bill include Ruben Gallego (AZ), Mark Warner (VA), Lisa Blunt Rochester (DE), Andy Kim (NJ), Kirsten Gillibrand (NY), and Angela Alsobrooks (MD). Gallego was one of the top recipients of crypto industry campaign funds in 2024, receiving $10 million in crypto super PAC backing.

A trader bought 6,000 $TRUMP on April 21, two days before the announcement that top holders would be invited to dinner with the president. They sold it a few hours after the announcement two days later caused the token price to go up, earning $33k on the trade. Impressive timing!

They had traded the Trump token a bit for the first few days after it launched in January, then apparently lost interest until suddenly rediscovering it on April 21.

At the moment they still hold 9,130 TRUMP, so as of now they’ll be joining Trump at the dinner in a few weeks.

They regularly transfer funds from Bybit, suggesting they are not based in the US.

always a little weird to see in politicians' footnotes

Someone just spent $8 million on $TRUMP memecoins after the president announced that the top holders would be invited to join him at a private dinner at his DC golf club.

The purchases were funded by a Binance account, suggesting the wallet owner is not based in the US.

The House Financial Services Republicans and the White House (now deleted) tagged either a hacked or fake account in their announcements that Paul Atkins was sworn in as SEC Chair. The "Atkins" account immediately started asking for crypto.

Meet our new SEC Chair, Paul Atkins. Who better for the role than a Project 2025 architect who blamed the FTX fraud on the US not being "accommodating" to blockchain technology?

@molly0xfff Who better to regulate financial markets than Paul Atkins, a Project 2025 architect who blamed the FTX fraud on the US not being "accommodating" to blockchain technology? #sec #trumpadministration #project2025 #paulatkins ♬ original sound - Molly White

Trump’s Trump Media & Technology Group has just asked the US Securities and Exchange Commission to investigate and potentially pursue civil and criminal action against a short seller

@molly0xfff White House crypto advisers think tariff revenues or gold reserves could be used to buy Bitcoin, benefiting the president's billionaire crypto backers #cryptonews #cryptoindustry #cryptolobby #tariff #bitcoin #news #uspolitics ♬ original sound - Molly White

If I light your house on fire and then douse the flames halfway through it burning down, I shouldn’t be praised for my firefighting skills

pleased to hear the penguins have won the trade bargains