Democratic members of Congress and organizations have announced two rallies and two press events ahead of a May 22 memecoin event at the US president's golf club. Democratic leaning organizations and members of Congress have announced plans to protest what they describe as the sale of access to the office of the US president, in reference to Donald Trump’s memecoin dinner on May 22. The event’s attendees are said to have collectively spent over $100 million for the chance to meet with the US president. Since Trump’s memecoin project, Official Trump (TRUMP), announced that its top 220 tokenholders would have an opportunity to apply for an exclusive dinner with the president, many leaders in the crypto industry and US lawmakers have criticized the event, saying Trump was opening his office to potential bribery and corruption. The memecoin dinner prompted some Democratic lawmakers to withdraw support for crypto-related legislation in Congress, including the market structure and stablecoin bills. Read more
If signed into law, the bill would allow the Texas comptroller to establish a Bitcoin reserve and invest in select cryptocurrencies based on market cap criteria. The Texas House of Representatives has passed the third reading of SB 21, a bill that seeks to establish a strategic Bitcoin reserve in the state. The bill passed in a 101-42 vote and will now go to Texas Governor Greg Abbott to either sign into law or veto. SB 21, authored by state Senator Charles Schwertner, establishes a Bitcoin (BTC) reserve that is managed by the state’s comptroller. The legislation allows the comptroller to invest in any cryptocurrency with a market cap above $500 billion over the previous 12-month period. Currently, the only cryptocurrency fitting the requirement is Bitcoin. Before the vote, state Representative Giovanni Capriglione said to the chamber that the bill was a “pivotal moment in securing Texas’s leadership in the digital age with the passage of our strategic Bitcoin reserve. Now, we embrace a modern asset with trad...
Savvy Bitcoin traders use these five indicators to know when it's time to buy and sell BTC. Key takeaways: Bitcoin market cycle tops are notoriously hard to time, but combining technical and behavioral indicators can offer strong signals. The MVRV-Z Score, Pi Cycle Top indicator, trade volume trends, Puell Multiple, and exchange inflows accurately predict Bitcoin price cycle tops. Read more
Citing sources close to the banking lobby, Austin Campbell says financial institutions are spooked by stablecoins that pay interest. America’s powerful banking lobby is “panicking” over the potential of stablecoins to disrupt their traditional business model, particularly when it comes to yield-bearing stablecoins, according to Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting. In a May 21 social media post that begins with, “The Empire Lobbies Back,” Campbell claimed that the banking industry is especially alarmed by the potential for stablecoins to offer interest or rewards to holders. In a pointed message aimed at Democratic lawmakers, Campbell wrote that “banks want you to protect their cartel so they can keep screwing your voters.” Read more