Weekly Crypto Recap: trump Dinner,SEC Changes,and Market Moves
President Donald Trump is set to host a private dinner for top TRUMP token holders on May 22. The event will take place at Trump National Golf Club near Washington. The top 25 holders will enjoy extra perks, like a pre-dinner reception with Trump and a White House tour.
However, the dinner might face legal challenges.Democrats argue it could be an impeachable offense, as Trump is rewarding people who buy his meme coin. This directly benefits the Trump family.
Meanwhile, the new SEC Chair, Paul Atkins, is taking a different approach. He criticized the previous management’s stance, saying it stifled innovation.This shift is good news for crypto companies like Dragonchain, Coinbase, and Ripple, as the SEC is dropping lawsuits and investigations.
Strategy, formerly MicroStrategy, continues to buy Bitcoin. The company recently added 6,556 BTC to its holdings, spending $555.8 million.this brings their total to 538,200 coins.
Other notable crypto news includes:
- WazirX, an Indian exchange, is restarting after a $230 million breach.
- Shaq settled with FTX investors over fraud accusations.
- meteora, a Solana DEX, faces a class action lawsuit for a $69 million rug pull.
- Sam Bankman-Fried was transferred to a California facility.
- SOL strategies secured $500 million for Solana investment.
- CME will launch XRP futures on May 19.
- Stripe is developing a stablecoin payment product.
These developments show the crypto world is constantly evolving, with both challenges and opportunities.
