Cardano’s Hoskinson Rejects Crypto Tribalism, Reveals Fresh Details on Massive ‘Glacier Drop’

According to The Block, Democratic members of the US House of Representatives have officially requested the Treasury Department to submit a report on suspicious financial activities related to the Trump family's cryptocurrency project, World Liberty Financial (WLF), and its associated Meme coin. The focus of the investigation includes the correlation between the $75 million investment in WLF by Sun Yuchen, founder of TRON, and the SEC's suspension of litigation, the compliance of the use of WLF stablecoin USD1 in Binance's $2 billion transaction, and the potential transfer of benefits for Trump Meme coin holders invited to attend the presidential dinner. This investigation also involves the political action committee supported by Musk and the Republican fundraising platform WinRed. Democratic Congressman Ritchie Torres proposed legislation last week to prohibit the President and members of Congress from profiting from Meme coins. Senators Elizabeth Warren and others have called for a review of Trump's relationship with Binance. The Ministry of Finance has not yet responded to this.

According to Bloomberg, Brian Armstrong, CEO of Coinbase Global Inc., stated on Bloomberg TV on Wednesday that the company is still monitoring merger opportunities after reaching an agreement earlier this month to acquire derivatives exchange Deribit for $2.9 billion. He pointed out that the company has a strong balance sheet and as a listed company, it has working capital available for mergers and acquisitions. However, it will choose carefully and seek the right timing to act. Armstrong specifically mentioned that the company pays special attention to the international market, targeting companies whose ideas align and can drive the development and growth of Coinbase products. When asked if Coinbase would consider acquiring stablecoin issuer Circle (with whom Coinbase had previously reached a revenue sharing agreement), he responded that "there is no news to announce today".

JUST IN: Twitter Founder Jack Dorsey says "small businesses can be their own bank" using Bitcoin.

BitGo’s stablecoin-as-a-service has drawn significant interest from U.S. and international banks, Ben Reynolds said.

Odaily Planet Daily News: US Congressman French Hill stated that President Trump's launch of cryptocurrency businesses such as TRUMP Meme "has indeed made our work more complex," but "there are still members of both parties working behind the scenes to seek consensus in both houses of Congress. He emphasized, "I believe it is feasible to send the stablecoin bill and market structure bill to President Trump's desk before the August congressional recess." Hill pointed out that the two bills "complement each other," which is why "both bills are crucial.