Washington, D.C. — Senate Minority Leader Chuck Schumer (D-NY) and Senators Elizabeth Warren (D-MA) and Jeff Merkley (D-OR) are pushing to amend the GENIUS Act to bar U.S. presidents from profiting from stablecoin ventures. The move follows former President Donald Trump’s involvement with World Liberty Financial (WLFI), which launched the USD1 stablecoin in March.
Merkley warned, “Without this anti-corruption provision, Congress would effectively endorse Trump’s attempt to sell influence to the highest bidder.” Critics argue that if USD1 gains legal recognition as a financial instrument, Trump—who holds stakes in WLFI alongside his three sons—could financially benefit.
BlackRock Expands ETH Holdings Amid ETF Activity
Asset manager BlackRock increased its Ethereum holdings by 9,989 ETH
Market Snapshot (as of press time):
BTC: $111,651 (+1.6%)
ETH: $2,660.18 (+4.1%)
SOL: $180.05 (+3.6%)
DOGE: $0.2459 (+4.4%)
Regulatory Developments
SEC Delays Multiple Crypto ETF Applications
Bloomberg analyst James Seyffart reported the U.S. SEC deferred decisions on ETFs tied to XRP (Bitwise, CoinShares), Litecoin, and Fidelity’s Bitcoin fund, citing routine review extensions.
Democratic Bill Targets Crypto Conflicts of Interest
Rep. Maxine Waters (D-CA) introduced the “Stop Trading, Retention and Unfair Market Returns in Cryptocurrencies Act 2025”, aiming to restrict federal officials—including the president, vice president, and lawmakers—from holding significant digital asset stakes. The bill has 14 Democratic co-sponsors.
Trump Responds: On Truth Social, Trump asserted U.S. dominance in crypto, stating, “We will maintain this momentum,” ahead of a Virginia cryptocurrency event.
Blockchain & Institutional Adoption
DOGE Joins Solana Ecosystem via Wormhole
Interoperability platform Wormhole announced DogecoinwillintegratewithSolanausingits∗NativeTokenTransfers∗(NTT)frameworkandzero−knowledgeproofs.Co−founderRobinsonBurkeycalleditamergerof”twoindustrygiants.”Wormholehasbridged∗∗11.5B** to Solana to date.
Centrifuge Expands $400M Treasury Fund to Solana
Real-world asset (RWA) platform Centrifuge launched a tokenized U.S. Treasury fund (JTRSY) on Solana, enabling yield farming via DeFi protocols like Raydium. The move follows Solana Foundation’s partnership with blockchain firm R3 to onboard institutional assets.
BNP Paribas Launches Tokenized Money Market Fund
BNP Paribas Asset Management issued native digital shares of a money market fund on Allfunds Blockchain, targeting faster settlements and crypto-native investors.
Corporate & Government Crypto Moves
The Blockchain Group (Europe’s first Bitcoin fund) acquired 227 BTC ($21.2M), raising its total to 847 BTC.
El Salvador added 8 BTC this week, boosting reserves to 6,185.18 BTC ($690M).
Fed Urges Use of Liquidity Tool
NY Fed’s Roberto Pelly encouraged banks to utilize the Standing Repo Facility (SRF) amid tightening liquidity. Operational updates will extend SRF hours to mornings for same-day settlements.
Supreme Court Shields Fed from Political Interference
The U.S. Supreme Court ruled the Federal Reserve’s “quasi-private” structure insulates it from presidential dismissal attempts, countering Trump’s past threats to oust Chair Jerome Powell.
Related Topics:
- Interest-Bearing Stablecoins Gain Momentum Amid Regulatory Shifts
- Three Major Signals In The Crypto Market: Btc Is Expected To Rise By 250,000, Ethereum Node Revolution, And A Super Cycle Is Approaching?
- Long-Term U.S. and Japanese Treasury Performance Slumps Amid Weak Demand, Fiscal Pressures
