In the Senate, the GENIUS Act has advanced and will likely go to a full vote this week. Although Democrats are likely to insist on a vote on an amendment to limit Trump’s crypto corruption, it’s a symbolic gesture.
![In government
The GENIUS Act stablecoin bill has already advanced in the Senate, after all Democrats and several Republicans voted against it less than two weeks ago amid concerns about Trump’s serious crypto conflicts of interest [I83]. Some Democrats tried to insist that any stablecoin bill include explicit prohibitions preventing the president, Congress members, and others in government from creating and selling digital assets; others, such as the bill’s co-sponsor and longtime crypto industry ally Kirsten Gillibrand, argued that Trump’s crypto activities are “already illegal” and that the bill shouldn’t “deal with all of President Trump’s ethics problems”.20
Despite little in the way of acquiescence to Democrats’ requested changes, 16 Democrats voted in support of the cloture motion: Alsobrooks (MD), Blunt Rochester (DE), Booker (NJ), Cortez Masto (NV), Fetterman (PA), Gallego (AZ), Gillibrand (NY), Hassan (NH), Heinrich (NM), Lujan (NM), Ossoff (GA), Padilla (CA), Rosen (NV), Schiff (CA), Slotkin (MI), Warner (VA).21 The bill will now go to a full vote, likely this week, and will likely still pass after a symbolic but unsuccessful vote on an amendment to limit Trump’s crypto involvement.
The breakneck pace of this bill is likely due to the crypto industry’s concern that their influence on Congress might diminish after the midterm elections. “We have a very narrow window to get legislation through. The midterms are next year. I think it’s very](/proxy/post_attachment/500267/a0604bd063.png "In government
The GENIUS Act stablecoin bill has already advanced in the Senate, after all Democrats and several Republicans voted against it less than two weeks ago amid concerns about Trump’s serious crypto conflicts of interest [I83]. Some Democrats tried to insist that any stablecoin bill include explicit prohibitions preventing the president, Congress members, and others in government from creating and selling digital assets; others, such as the bill’s co-sponsor and longtime crypto industry ally Kirsten Gillibrand, argued that Trump’s crypto activities are “already illegal” and that the bill shouldn’t “deal with all of President Trump’s ethics problems”.20
Despite little in the way of acquiescence to Democrats’ requested changes, 16 Democrats voted in support of the cloture motion: Alsobrooks (MD), Blunt Rochester (DE), Booker (NJ), Cortez Masto (NV), Fetterman (PA), Gallego (AZ), Gillibrand (NY), Hassan (NH), Heinrich (NM), Lujan (NM), Ossoff (GA), Padilla (CA), Rosen (NV), Schiff (CA), Slotkin (MI), Warner (VA).21 The bill will now go to a full vote, likely this week, and will likely still pass after a symbolic but unsuccessful vote on an amendment to limit Trump’s crypto involvement.
The breakneck pace of this bill is likely due to the crypto industry’s concern that their influence on Congress might diminish after the midterm elections. “We have a very narrow window to get legislation through. The midterms are next year. I think it’s very")
Trump’s exclusive dinner for holders of the TRUMP memecoin is scheduled for Thursday night. Nearly 3/4 of the wallets on the leaderboard likely belong to non-US buyers, including Justin Sun, whose legal troubles in the US have vanished following his Trump contributions.
A small company called GD Culture Group has announced it will somehow purchase up to $300M in TRUMP tokens. As a company that primarily does business on TikTok, they have a strong incentive to try to influence Trump as he navigates the ongoing saga around a TikTok ban.
Trump crypto adviser David Bailey is following in the footsteps of sons of both Trump and Commerce Secretary Howard Lutnick, who are in the MicroStrategy-esque process of creating companies, rapidly going public, and acquiring large bitcoin holdings to become bitcoin proxy bets.
@molly0xfff your definition of “small” is a bit off I would say - a company that can splurge 300M usd on a single bribe is pretty big 🤯
@jospoortvliet that’s the thing -- it’s a small company that somehow found itself with $300M
@molly0xfff oh wow the insanity. So they are a front to some person or organization that wants to buy trump to do something. Must look real bad if you want to hide it - the trump kleptocrats have been extremely open about their profiteering.
Wonder if that’s a strategy to make sure everyone is in so deep they will fight democratic accountability within an inch of their life as they know they all would get jailed…
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