Presidential Memecoin Scandal
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- 🇦🇷 Argentina's President Faces Crypto Fraud Accusations. Javier Milei is being investigated by a federal judge over fraud allegations tied to his endorsement of the LIBRA memecoin, which insiders dumped more than $100 million of on early buyers.
- 🟧 Crypto Task Force May Prioritize Bitcoin Reserve. Trump's crypto task force is likely prioritizing efforts to create a national Bitcoin reserve, broker Bernstein said in a research report.
- ⌚️ TRUMP Memecoin Gets Small Airdrop. The team behind the TRUMP token is airdropping 3 tokens each to buyers of Trump-branded merch.
| Prices as of 6pm ET | 24hr | 7d |
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Crypto $3.20T | ↘ 0.3% | ↗ 0.3% |
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BTC $95,755 | ↘ 0.4% | ↘ 1.6% |
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ETH $2,740 | ↗ 3.0% | ↗ 3.0% |
President Trump made big crypto promises on the campaign trail. With Gary Gensler gone and the SEC now under new management, his administration stands ready to deliver on the agenda with digital asset regulatory clarity.
In our latest episode of Bankless, SEC Commissioner Hester Peirce – an outspoken advocate for digital asset liberties and regulatory restraint – joined David Hoffman to discuss the implications of changing agency leadership on crypto’s future.
Day one of the Trump Administration saw Commissioner Peirce appointed as head of the SEC’s freshly formed Crypto Task Force, and its first move was rescinding SAB 121, a controversial accounting policy that restricted financial institutions from offering crypto custody services.
Although Gary Gensler’s relentless trickle of crypto lawsuits traumatized industry participants and discouraged engagement with American regulators, Commissioner Peirce hopes to build healthy relationships with crypto projects and encourage experimentation through practical solutions that uphold regulation.
We didn’t get all the answers, but it was certainly refreshing to hear a lead crypto regulator finally engaging with the industry! Here’s how Hester responded to the crypto industry’s top 5 pressing concerns. 👇
The Fraxtal ecosystem is expanding at lightning speed—this month’s biggest highlight is IQAI.com, the newest Agent Tokenization platform from IQ and Frax. IQ is building autonomous, intelligent, tokenized agents launching on Fraxtal in Q1. Empower on-chain agents with built-in wallets, tokenized ownership, and decentralized governance—all within a fast-growing Fraxtal ecosystem.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.