WASHINGTON: US President Donald Trump has approved the partnership between US Steel and Nippon Steel of Japan, aiming to create at least 70,000 jobs and include $14 billion in the US economy. According to a social media post on Friday, Donald Trump stated on the US Steel-Nippon Steel Partnership, “I am proud to announce that, […]
President Donald Trump’s use of the presidential seal at a $TRUMP memecoin investor dinner may violate federal law. President Donald Trump is facing scrutiny after speaking at a private event for top investors in his $TRUMP memecoin while standing behind a lectern emblazoned with the official presidential seal — a move that may violate federal law. The event took place Thursday at Trump National Golf Club in Virginia, where Trump addressed 220 investors in his cryptocurrency project. According to US law, the presidential seal cannot be used in any manner that could imply government approval or sponsorship. Violators can face fines or up to six months in prison. Read more
U.S. President Donald Trump threatened on Friday to ratchet up his trade war once again, pushing for a 50% tariff on European Union goods starting June 1 and warning Apple he may slap a 25% levy on all iPhones bought by U.S. consumers. The twin threats, delivered via social media, roiled global markets after weeks […]
The controversial Trump memecoin dinner saw a number of crypto entrepreneurs, as well as sports stars and even anonymous influencers. The top 220 holders of US President Donald Trump’s memecoin met yesterday at the president’s golf course in Virginia for an exclusive dinner and purported meet-and-greet. Attendees spent a grand total of $148 million for an “ultra-exclusive VIP reception with the president,” which crypto industry advocates and critics alike saw as a potential opportunity to discuss crypto policy with the president. The crowd contained a number of foreign crypto executives and influencers who otherwise would not have access to the US president, raising questions around corruption and foreign influence. Read more
Senate Minority Leader Chuck Schumer will reportedly back efforts to amend the stablecoin bill to add guardrails against Trump crypto ties. Though a majority of members of the US Senate voted to advance a bill to regulate payment stablecoins on May 20, high-ranking Democrats are planning to propose an amendment to the legislation to address President Donald Trump’s connections to the cryptocurrency industry. According to a May 22 Axios report, Senate Minority Leader Chuck Schumer and Senators Elizabeth Warren and Jeff Merkley will file an amendment to the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, to block a US president from profiting from stablecoins. The proposed amendment would come after 18 Democrats sided with Republicans in the Senate in voting to advance the bill on May 20 after it failed a procedural vote on May 8. “Passing the GENIUS Act without our anti-corruption amendment stamps a Congressional seal of approval on Trump selling access and influence to the ...