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The Crypto Coin Show News Team covers digital assets, blockchain infrastructure, markets and policy. Crypto Coin Show has been running for more than 12 years, with 1,500+ interviews with founders, investors and builders.

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Brian Armstrong declares weekly Bitcoin buys as Coinbase hits All-Time High

Brian Armstrong declares weekly Bitcoin buys as Coinbase hits All-Time High

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Brian Armstrong, CEO of Coinbase, has publicly declared that they buy Bitcoin weekly, reaffirming his bullish stance on the world’s largest cryptocurrency.

The announcement on X (formerly Twitter) came as Coinbase shares hit an all-time high of $375.07, surpassing its previous record from November 2021.

The comment suggests Armstrong and his company’s strong belief in Bitcoin as a long-term store of value. On multiple occasions, Armstrong has suggested that Bitcoin’s price could someday go into millions of dollars.

Armstrong also suggested it won’t be long before nations start putting Bitcoin on their balance sheets, a shift that could redefine global demand and establish the asset as a player in world politics. Some dismissed it as overly speculative, but others pointed out that countries like El Salvador and the Central African Republic have already moved in that direction.

Whether symbolic or strategic, Armstrong’s consistent Bitcoin purchases reflect a growing trend among crypto leaders and institutional investors who see BTC as a hedge against inflation, currency volatility, and systemic risk.

Market confidence drives Coinbase to a new peak

Coinbase Global Inc. shares closed at the highest level ever, capping off a rally fueled by the growing acceptance of the cryptocurrency industry on Wall Street and Washington.

The crypto-exchange operator’s stock rose 5.5% on Thursday to $375.07. The previous high was $357.39 in November 2021, just months after the company went public through a direct listing.

Coinbase shares have surged more than 1,000% from a record low in late 2022, which came as the collapse of FTX raised questions about the future of digital assets. The stock’s comeback occurred as cryptocurrency prices rebounded and the industry won powerful new allies, including US President Donald Trump. Just last month, Coinbase was added to the prestigious S&P 500 Index.

This extraordinary revival comes after a dark period in the crypto industry. FTX and other heavyweights crashed in 2022, leading to the absurdly high skepticism rate about digital assets. Few of the largest exchanges were left unscathed, and Coinbase was one of the few that didn’t get whacked, leaving it as a safe player in a chaotic industry.

Now, renewed optimism is back. Institutional capital is moving in, retail traders are coming back, and financial giants like BlackRock and Fidelity are plowing ahead with crypto products. Coinbase recently joined the S&P 500 Index, a sign of increasing legitimacy in traditional finance.

Analysts say the wider recovery in Bitcoin and Ethereum prices and greater regulatory clarity are helping lift investors’ confidence in Coinbase. The exchange’s various revenue streams, including trading fees, custody services, and institutional partnerships, have also contributed to its stock performance.

US lawmakers boost crypto sentiment with policy shift

The return of Coinbase also coincides with growing regulatory clarity and political support of digital assets in the United States. Washington is warming to crypto after years of hostility and uncertainty.

Legislation on the horizon on stablecoins and clearer signals from the Securities and Exchange Commission (SEC) are also helping the sector lay down the law. Bipartisan backing in Congress has added fresh momentum to bills that could provide transparency and oversight, particularly in critical functions including custody, staking, and decentralized finance.

President Donald Trump has publicly supported crypto innovation, unlike previous administrations. Under his rule, there has been a huge policy expansion in the domain of crypto, such as creating a crypto reserve for the country.

Coinbase, a longtime advocate for reasonable regulation, has been one of the most vocal in communicating with legislative staff and regulatory agencies. And it is paying off.

Investors, analysts, and crypto enthusiasts these days see Coinbase as not just an exchange but also a bridge between the digital economy and the traditional financial system.

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Zak Folkman highlights growing interest in World Liberty Financial's stablecoin

Zak Folkman highlights growing interest in World Liberty Financial’s stablecoin

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World Liberty Financial Inc., a decentralized finance platform linked to the Trump family, is attracting significant interest from public companies exploring using its token as a treasury asset, according to co-founder Zak Folkman.

Speaking at the Permissionless crypto conference in New York on Wednesday, June 25, Folkman also announced the launch of the new World Liberty Financial App.

Folkman anticipates USD1 becoming the biggest stablecoin by market cap

Crypto treasury firms have become popular since the success of Strategy, the company Michael Saylor leads. The firm has over $60 billion worth of Bitcoin on its balance sheet and a market capitalization surging to over $100 billion.

Folkman noted that several companies admire Michael Saylor and his accomplishments. This is particularly true of his strategy and his promotion of companies keeping their crypto reserves.

Goodfood Market Corp., Semler Scientific Inc., and Trump Media & Technology Group Corp. are some companies that have revealed plans or started their own efforts to hold cryptocurrency. 

Meanwhile, companies are changing the Strategy Playbook by using alternative tokens instead of Bitcoin when implementing their plans. 

For instance, Upexi raised $100 million to purchase the Solana token last week to keep in its treasury, while Sharplink Inc. holds $425 million worth of the second-largest cryptocurrency, Ether.

Folkman also weighed on the future potential of World Liberty’s USD1 stablecoin, valued at approximately $2.1 billion. Notably, the largest stablecoin is USDT, from Tether, which has about $156.8 billion in circulation.

Based on Folkman’s speculations, they have tackled the challenges that a company will encounter, and now it is just a matter of time before USD1 becomes the biggest stablecoin by market cap.

He further anticipated that everyone would come to this conclusion when they witness several developments in the upcoming months.

With the Genesis Act, one of the main US stablecoin laws, set to pass into law, digital dollar-pegged assets have become even more attractive to investors.

Fintech firms adopt the growing trend of launching stablecoins 

Apart from public companies showing interest in stablecoins, fintech firms have adopted this trend and aim to follow World Liberty Financial’s lead in launching stablecoins.

Fiserv announced that it plans to release a stablecoin, amid increasing interest in the token from US companies as the cryptos move toward the mainstream.

The announcement followed the US Senate passing a milestone stablecoin bill that analysts said could represent a turning point in the crypto oversight debate and a breakthrough for a sector stuck in regulatory limbo for years.

The fintech company said its stablecoin, FIUSD, will be embedded into its existing banking and payments platform by the end of the year. The company added that FIUSD will use stablecoin infrastructure delivered from Paxos and Circle Internet.

Shares of Circle, the issuer of the second-largest stablecoin by market value, were up 15%, and Fiserv and PayPal were up 2.3% and 1.7% respectively.

Stablecoins are tied to currencies such as the US dollar and are meant to maintain a consistent value from reserves held. Once a niche corner of crypto, they have become popular for their ability to protect from price swings.

Fintech companies and traditional banks use stablecoins more frequently to make cross-border payments easier, speed up transactions, and expand access to digital finance. 

Analysts at TD Cowen mentioned that they view the launch as a sign of Fiserv’s skill in quickly innovating and utilizing its central role between banks and merchants to connect old and new payment systems.

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Jeff Bezos is talking to Trump and pushing for more Blue Origin contracts

Jeff Bezos is talking to Trump and pushing for more Blue Origin contracts

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Jeff Bezos is doing everything he can to replace Elon Musk as Trump’s go-to billionaire, and it’s working. According to Bloomberg, Jeff has already talked to President Trump twice this month, and Blue Origin CEO Dave Limp met with White House chief of staff Susie Wiles in mid-June.

In those meetings, Jeff and his space company pushed hard for more government contracts, using Elon’s public fall from grace as their opening.

The timing couldn’t have been better for Jeff. Earlier in June, Elon tore into Trump-backed legislation on X and even suggested starting a new political party. Days later, Trump pulled his support for Elon’s NASA nominee, Jared Isaacman, and warned publicly that Elon’s companies might lose their government deals.

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump posted. “I was always surprised that Biden didn’t do it!”

Jeff offers Trump what Elon can’t

Elon used to be deep inside Trump’s circle. He helped with transition picks, ran a $250 million super PAC to support Trump’s re-election, and was behind Isaacman’s nomination to lead NASA. That’s gone now. The breakup cleared the way for Jeff, who’s wasted no time getting close.

Trump, who wants a crewed mission to the moon during his term, brought that up with Jeff in recent calls, Bloomberg reported. Blue Origin is aiming to land a cargo ship on the moon this year. That’s a strong pitch, but there’s still a problem: SpaceX is way ahead.

Blue Origin’s New Glenn rocket made it to orbit for the first time in January, but a second flight planned for spring never happened. The next shot is in mid-August. Meanwhile, SpaceX is expected to hit 170 launches in 2025. Most of those are for its satellite arm, Starlink, but many are also tied to government missions.

In April, the U.S. Space Force awarded SpaceX $5.9 billion for 28 upcoming launches. United Launch Alliance got less for 19. Blue Origin only landed $2.4 billion for seven. Elon’s rockets are proven and fast. Jeff’ rockets are still trying to catch up.

Limp has been pressing Blue Origin to speed things up and compete harder. The company is also aiming at several major future government contracts, including Trump’s “Golden Dome” missile-defense plan and upcoming Mars programs NASA has been asked to pursue.

Jeff repairs relationship with the White House

Jeff wasn’t always this close to Trump, as you may know. During Trump’s first term, the president accused Jeff of using the Washington Post to attack his presidency and even launched an investigation into Amazon’s Postal Service contracts, saying the company’s discounts were hurting the system. Trump also called Amazon a monopoly.

But that tension is fading. Jeff built connections with Ivanka Trump and Jared Kushner. He also backed the Washington Post’s decision not to endorse any candidate, blocking a planned editorial that would’ve supported Vice President Kamala Harris. That move didn’t go unnoticed. Trump has privately praised Jeff for stopping the endorsement, according to people close to him.

Jeff also brought cash. Amazon paid $40 million, nearly three times the next highest offer, for a documentary about First Lady Melania Trump. Over 70% of that money is going directly to her, as reported by The Wall Street Journal. And Amazon gave $1 million to Trump’s 2025 inauguration, where Jeff and his fiancée Lauren Sánchez were seated right behind the president.

Jeff even invited Trump to his wedding in Venice this weekend. Trump isn’t expected to attend, but the invitation itself was part of the charm offensive.

Jeff is doing what Elon can’t right now: keep Trump happy, feed his space ambitions, do as he says, and avoid drama. Whether that’s enough to push Blue Origin ahead of SpaceX in the government contract race is still unclear. But for now, the billionaire who once clashed with Trump is back in the room, and Elon is out.

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Trump’s early Fed chair pick talk rattles dollar markets

Trump’s early Fed chair pick talk rattles dollar markets

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The dollar lost ground fast on Thursday after The Wall Street Journal reported that Trump might reveal his next Federal Reserve chair pick much earlier than expected.

Traders responded immediately in Asia as the US currency dropped against all its major peers. The news came after Trump said he’s unhappy with how current Fed Chair Jerome Powell has handled interest rates, believing he’s been too slow to cut them.

Trump’s early Fed chair pick talk rattles dollar markets
Source: Bloomberg

Trump is now considering making an announcement as early as September or October, while Powell’s term doesn’t end until May 2026.

According to the Journal, the names being floated inside the White House include Kevin Warsh, a former Fed governor, and Kevin Hassett, the director of the National Economic Council.

Both men have had previous ties to Trump’s circle, and the idea of naming a successor so early is already shaking investor confidence. Trump told reporters Wednesday he’s currently considering “three or four” potential replacements.

He’s openly criticized Powell’s recent decision to keep interest rates on hold, saying it’s keeping government borrowing costs high and hurting growth. Earlier this month, he said new names would be coming “very soon.”

White House sends mixed signals

Rodrigo Catril, strategist at National Australia Bank in Sydney, said Trump’s possible early announcement could “amp up the pressure” on Powell long before his term ends. “We could have a shadow Fed chair before May next year,” Catril said, adding that this kind of political pressure could push the dollar lower in coming weeks.

When asked about Trump’s intentions, the White House responded by saying the Fed should focus on growth-oriented monetary policy. Powell, for his part, insisted politics wouldn’t influence the Fed’s choices. 

“If we make a mistake here, people will pay…the cost for a long time,” Powell told lawmakers during a Senate hearing. He added that rate cuts are still possible later this year, but said the Fed would take a “careful approach.”

On the timeline, Larry Bessent, current Treasury Secretary, previously said interviews for the next chair wouldn’t begin until September. But that schedule might not hold. The Fed’s independence has been guarded since the 1970s, when President Nixon pressured the central bank for lower rates ahead of his reelection. That led to disastrous inflation that took years to fix.

Trump eyes Warsh, Bessent, and Malpass for top role

Trump has had Warsh on his radar for a while. He spoke with him earlier this year about possibly replacing Powell before his term ends. Warsh was also interviewed by Trump last fall for the Treasury job.

At a closed-door event in Boston this month, Warsh told a group of finance professionals, “I wouldn’t be shocked if the president made a nomination sooner than would be customary, just to…try to make a lame duck lamer or something like that.”

Still, there are concerns. Some of Trump’s aides worry Warsh could be a maverick. He’s long been seen as a policy hawk, more focused on fighting inflation than boosting employment.

When asked about that label in Boston, Warsh said, “My fatal flaw is I say what I believe. If the president wants someone who is weak, I don’t think I’m going to get the job.” He also took a shot at zero interest rates: “When things are free, when rates are zero, that leads to very bad economic outcomes.”

Warsh also praised Kazuo Ueda, head of the Bank of Japan, saying he’s “the most talented central banker on the planet right now.”

Then there’s Hassett, who’s reportedly told people he’s not interested in taking the job. That makes room for Bessent. Despite saying he’s committed to his current position, people familiar with both him and Trump say Bessent hasn’t ruled it out.

Speaking before Congress earlier this month, Bessent said, “I’m happy to do what President Trump wants me to do.” That loyalty matters—Trump barely knew Powell when he picked him in 2018 and now sees that decision as a mistake. He’s determined not to repeat it.

Trump has also been talking to aides about David Malpass, who ran the World Bank during his first term. Malpass has recently supported rate cuts and criticized the Fed’s internal models in a Journal op-ed. Those views line up with Trump’s. But in recent private dinners and lunches, Trump reportedly raised doubts over Malpass’s TV appeal, suggesting his appearance might not suit the role.

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Trump jokes about ‘daddy’ nickname, defends himself at NATO

Trump jokes about ‘daddy’ nickname, defends himself at NATO

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Donald Trump, speaking from The Hague on Wednesday, said the United States would make Spain pay double in ongoing trade talks after Madrid rejected a new NATO defense spending target of 5% of GDP. The threat came just hours after NATO leaders agreed to major defense spending increases that Trump had pushed hard for. But Spain publicly refused to meet the target, insisting it could fulfill its obligations without crossing that 5% line.

“I think their decision is very terrible,” Trump said. “We’re negotiating with Spain on a trade deal. We’re going to make them pay twice as much.” The statement, reported by Reuters, raised eyebrows because Spain, like other EU members, doesn’t make individual trade deals with the U.S.. Those negotiations are handled by the European Commission, representing all 27 member states. That means if Trump wants to carry out this punishment, he’d need to insert that language into a broader agreement with the entire European Union—something that would likely face major opposition.

Trump jokes about ‘daddy’ nickname, defends himself at NATO

Instead of focusing on Spain’s refusal, Trump spent a chunk of the summit praising his own impact on the alliance. “They said, ‘You did it, sir, you did it,’” Trump said. “Well, I don’t know if I did it, but I think I did.” He said this while smiling, clearly enjoying the attention from fellow leaders. When asked about NATO Secretary General Mark Rutte calling him “daddy,” Trump said it was “very affectionately.” Secretary of State Marco Rubio, standing behind him, tried not to laugh.

This summit was calmer than the ones Trump attended during his first term. Back then, meetings were tense, with European leaders uncertain about his loyalty to NATO’s collective defense clause. But on Wednesday, Trump said he no longer believed the alliance was a scam. “I left here differently,” he said. “I left here saying that these people really love their countries. It’s not a rip off, and we’re here to help them protect their country.”

Still, not everyone was pleased with how things unfolded. French President Emmanuel Macron, speaking after the summit, called out Trump’s trade threats. “We cannot, among allies, say that we must spend more…and wage a trade war,” Macron said. He added, “It is very important that we can return to what should be the rule within a group of allies…a true trade peace.” Macron was also the only leader to criticize Trump over his decision to hit Iran last week.

Trump says Iran attack was like Hiroshima, meets with Zelenskyy

At the press conference, Trump also talked about the U.S. military strikes on Iran, calling them “very, very successful—total obliteration.” He said media outlets like CNN and The New York Times had “demeaned” U.S. troops with their coverage. He added that intelligence reports backed the attack’s effectiveness. “We think we hit ‘em so hard and so fast, they didn’t get to move,” Trump said. “We destroyed the nuclear. It’s blown up…to kingdom come.”

He even compared the strikes to the nuclear bombings of Hiroshima and Nagasaki in 1945. “That ended the war, too. This ended a war in a different way, but it was so devastating,” Trump said. He claimed that bunker-buster bombs were used and insisted this cleared a path to peace in the Middle East.

Before stepping onstage, Trump held a private meeting with Ukrainian President Volodymyr Zelenskyy, which lasted nearly an hour. He described Zelenskyy as “very nice” and commended Ukraine’s fight. When asked if he’d approve more defense aid, Trump replied, “We’ll see what happens.” A Ukrainian journalist told him her husband was in the military. Trump responded directly, saying, “Vladimir Putin really has to end that war.”

At the very end, Trump was asked why he believed the latest ceasefire between Iran and Israel would hold. “They’re both tired, exhausted,” he said. “They were both satisfied to go home and get out.”

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BitGo’s assets under custody jumped to $100B in H1 2025

BitGo’s assets under custody jumped to $100B in H1 2025

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The value of digital assets under BitGo Inc.’s custody has surged. BitGo’s vice president for its Asia-Pacific business, Abel Seow, said it had seen its assets under custody (AUC) rise from $60B to $100B in the first six months of the year.

It represents a 66% increase, demonstrating the growing appetite among institutional and retail players to participate in the crypto-economy. Seow said that the rise was driven by “peak retail interest” in crypto, increasing asset adoption, and greater regulatory clarity in major jurisdictions.

Crypto confidence is growing among investors, as is evident in the demand for secure and regulated custody services.

One big driver of the increase in BitGo’s assets is “staking,” which involves crypto holders locking up their tokens to help validate blockchain transactions and, in exchange, earn passive income.

Today, assets in BitGo Staking represent 50% of BitGo’s total holdings, where yield-based strategies are a core investment theme for modern digital asset holders.

BitGo expands into global markets

BitGo, which was established in 2013, initially offered secure wallets but has since developed into a one-stop shop crypto bank. In addition to custody, BitGo provides clients with the capabilities to trade, borrow, and lend digital assets. It has clients that include institutional investors and firms born on the blockchain.

Over the past year, the company has been growing quickly internationally. BitGo Korea was released in September 2024 with Hana Financial Group and SK Telecom, two of South Korea’s largest financial and telecommunications companies.

Seow said the joint venture is “progressing well” and has begun offering its services to high-net-worth clients and regional institutional participants.

Also, in early 2025, BitGo officially seeded its Dubai operations, entering the region’s growing digital asset ecosystem. Crypto stronghold Dubai has established itself as a burgeoning hub in its own right on the backs of business-friendly regulation and investor appetite.

BitGo’s growing reach reflects a larger trend in the industry; crypto firms no longer want to concentrate only on the US and Europe in traditional markets. Instead, they seek to go global to service local demand, particularly in areas where regulation is favorable and smartphone penetration rates are high.

BitGo plans IPO as crypto market heats up

Riding the wave, BitGo is getting ready for a potential public listing as soon as the second half of 2025, reports Bloomberg. The move would make the company part of an emerging wave of crypto-native firms seeking to tap into public markets, with renewed investor confidence and a more friendly regulatory environment pushing these firms into the spotlight.

BitGo’s IPO strategy is part of a wider trend related to a change in the US approach under President Donald Trump’s administration, which has been particularly friendly to crypto since returning to office.

BitGo was last valued in 2023 at $1.75 billion in connection with a $100 million capital raise. Returning to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse, which means that it doesn’t exactly take a crystal ball to guess which four banks might be involved in the IPO.

During his tenure, there have been appointments of crypto-friendly regulators, an attempt to slide through stablecoin legislation, and even Trump’s projects into the digital asset arena.

There has been so much change in political tone compared to past governments, which makes it easier and more predictable for crypto companies planning to grow and compete for institutional money.

In its most recent round of financing, in 2023, Bitgo was said to have a value of $1.75 billion, according to reports, in connection with raising $100 million in capital. And back to the underwriters, Goldman Sachs Group Inc., DRW Holdings, Redpoint Ventures, and Valor Equity Partners are all backers of the digital asset custody powerhouse.

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Gemini’s Robotics On-Device outperforms Google’s other models

Gemini’s Robotics On-Device outperforms Google’s other models

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Google DeepMind on Tuesday introduced a new language model called Gemini Robotics On-Device. The firm revealed that the model can run tasks locally on robots without an internet connection.

The new model, which builds on the company’s previous Gemini Robotics AI model that was released in March, can control a robot’s movements. Google also acknowledged that the vision-language-action model (VLA) is small and efficient enough to run directly on a robot. According to the company, developers can control and fine-tune the model to suit various needs using natural language prompts. 

Robotics On-Device outperforms Google’s other models

Head of robotics at Google DeepMind, Carolina Parada, maintained that the original Gemini Robotics model uses a hybrid approach, allowing it to operate on-device and on the cloud. She said that with the new device-only model, users can access offline features almost as well as the flagship’s.

The tech company claims that the model performs at a level close to the cloud-based Gemini Robotics model in benchmarks. Google also said it outperforms others on-device modes in general benchmarks, though it didn’t name those models. 

“The Gemini Robotics hybrid model is still more powerful, but we’re actually quite surprised at how strong this on-device model is. I would think about it as a starter model or as a model for applications that just have poor connectivity.”

-Carolina Parada, Head of Robotics at Google DeepMind.

The firm illustrated in the demo robots running the local model, unzipping bags, and folding clothes. Google acknowledged that while the model was trained for ALOHA robots, it later adapted it to work on a bi-arm Franka FR3 robot and the Apollo humanoid robot by Apptronik.

The tech company claims the bi-arm Franka FR3 was successful in tackling scenarios and objects it hadn’t seen before, like doing assembly on an industrial belt. The firm mentioned that developers can show robots 50 to 100 demonstrations of tasks to train them on new tasks using the models on the MuJoCo physics simulator. 

Google DeepMind also mentioned the release of a software development kit called the Gemini Robotics SDK. The company revealed that its Robotics SDK provides full lifecycle tooling necessary for using Gemini Robotics models, including accessing checkpoints, serving a model, evaluating the model on the robot and in the sim, uploading data, and fine-tuning it. The firm disclosed that its on-device Gemini Robotics model and its SDK will be available to a group of trusted testers while Google continues to work toward minimizing safety risks.

Tech companies join the robotics race

Other companies that use AI models are also showing interest in robotics. Nvidia is building a platform to create foundational models for humanoids. The firm’s CEO, Jensen Huang, noted that building foundation models for general humanoid robots is one of the most exciting problems to solve in AI today.

Huang argued that the humanoid factor is one of the most contested topics in the world of robotics at the moment. He acknowledged that it’s raising venture capital by the boatload while generating massive skepticism along the way. 

Nvidia has also been championing robotic innovation through initiatives like Isaac and Jetson. Last year in March, at its annual GTC developer conference, the company joined the humanoid race with Project GROOT.

Nvidia referred to the new platform as a general-purpose foundation model for humanoid robots. The firm said GROOT will support new hardware from Nvidia as well. 

Hugging Face is not only developing open models and data sets for robotics, but it is also working on robots. The firm revealed earlier this month an OpenAI model for robotics called SmolVLA. 

The company claims the model is trained on community-shared datasets and outperforms much larger models for robotics in both virtual and real-world environments. Hugging Face also revealed that SmolVLA aims to democratize access to vision-language-action (VLA) models and accelerate research toward generalist robotic agents.

Last year, the firm launched LeRobot, a collection of robotics-focused models, datasets, and tools. More recently, Hugging Face acquired Pollen Robotics, a robotics startup based in France, and revealed several inexpensive robotics systems, including humanoids, for purchase.

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NYSE Arca to list Truth Social Bitcoin and Ethereum ETFs

NYSE Arca to list Truth Social Bitcoin and Ethereum ETFs

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The New York Stock Exchange’s digital arm, NYSE Arca, has filed with regulators seeking to list a new Trump Media & Technology Group (TMTG) cryptocurrency exchange-traded fund (ETF). 

The filing, dated Tuesday and filed with the US Securities and Exchange Commission (SEC), is for listing the Truth Social Bitcoin and Ethereum ETF, a fund that would invest 75% of its assets in Bitcoin and 25% in Ethereum.

The ETF filing from Trump Media comes just eight days after the firm behind the SPAC filed its prospectus with the official CT attorney general, Yorkville America, representing a significant ramp of the company’s crypto strategy.

Trump Media, which is majority-owned by President Donald Trump, has recently shifted into high gear in promoting financial products tied to blockchain technologies that can afford the public a taste of crypto via regulated investment vehicles.

If approved, the filing would be the second related to a Truth Social-branded ETF in less than a month. The first, Truth Social Bitcoin ETF, submitted its filing in early June, and it was Bitcoin only. 

Both filings emphasize TMTG’s goal to establish itself as more than a social media and media streaming brand, betting instead that it can be taken seriously in the crypto finance space.

Crypto.com to manage and secure ETF operations

TMTG and Yorkville America have partnered with Crypto.com, a top-tier exchange, to manage the ETF’s deep-tech infrastructure. Crypto.com will provide digital asset custody, act as the execution agent for crypto transactions, and ensure liquidity for smooth fund operations.

In the filing with the SEC, NYSE Arca explained that the proposed listing would attempt to comply with the relevant regulations. “The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices in that the shares will be listed and traded on the exchange under the initial and continued listing criteria in NYSE,” the filing read.

This proposal falls under the SEC’s 19b-4 rule change process, which exchanges use when they propose to offer new financial products. The filing is a key regulatory milestone, but does not guarantee approval. The SEC decides whether to allow or reject a listing, typically following public comment and internal review.

Trump influence shifts SEC crypto stance

The SEC’s position on digital currency seems to be changeable under the incumbent administration of President Donald Trump. The agency, which was once seen as cautious and sometimes skeptical of digital assets, has started to take that more positive view.

That tone change comes after several senior SEC positions have been filled, with several appointees seen as sympathetic to the development of crypto markets and increased investor access more generally.

Even President Trump has transformed his outlook dramatically. He criticized cryptocurrencies in his first term but has become one of their most outspoken political supporters. Indeed, during recent campaign speeches and public appearances, Trump referred to digital assets as instruments of “financial freedom” and has since integrated blockchain solutions into public policy projects.

The increasing political support also gives momentum to Trump Media & Technology Group’s (TMTG) accelerating push into the crypto space. In collaboration with Yorkville America and Crypto.com, it announced the launch of a new suite of blockchain-based financial products under the ”America First.”

Some offerings it is considering include the America First Bitcoin Fund, America First Blockchain Leaders Fund, and the America First Stablecoin Income Fund.

But so far, just two products, the Truth Social Bitcoin ETF and the Truth Social Bitcoin and Ethereum ETF, have been formally filed with the SEC. The rest are conceptual and have not yet made any regulatory submissions.

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Trump's tariff policies hinder investments in the US, slowing down the economy

Trump’s tariff policies hinder investments in the US, slowing down the economy

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According to Commerce Department data, Foreign Direct Investment (FDI) in the US dropped to $52.8 billion in the first quarter of 2025, down from a revised $79.9 billion in Q4 2024.

The decline coincided with business uncertainty surrounding President Donald Trump’s tariff policies.

However, the slowdown may be short-lived, as multiple foreign firms are launching multibillion-dollar manufacturing projects nationwide. Nippon Steel’s acquisition of US Steel for nearly $15 billion is also expected to boost FDI figures in the upcoming quarters.

Trump’s tariff policies hinder investments in the US, slowing down the economy 

The lower first-quarter Foreign Direct Investment inflows contributed to a widening of the US current account deficit to a record high of $450.2 billion as businesses front-loaded imports ahead of Trump’s steep tariffs.

The Commerce Department’s Bureau of Economic Analysis also said the fourth quarter’s current account data was revised to $312.0 billion, instead of the previously reported $303.9 billion.

The data on the current account measures the net movement of goods, services, and investments in and out of the country. Notably, a big and longstanding US trade deficit has in the past been partially offset by investment inflows into US financial assets and foreign direct investment. This majorly consists of plant and equipment, corporate mergers, and acquisitions.

Meanwhile, the first-quarter FDI inflows were the smallest in dollar terms since the $42.4 billion in the fourth quarter of 2022, a time of high post-pandemic inflation.

Other than that drop, quarterly FDI has been above $61 billion since the COVID-19 pandemic eased, reaching a high of $135 billion in the third quarter of 2021, the Commerce Department reported.

Economists have cautioned that the ongoing uncertainty surrounding Trump’s tariffs might hinder companies from making investment choices and could slow economic growth. 

On the other hand, Trump claims that his tariffs are causing a surge in investments as companies try to bring manufacturing back to the US to avoid these tariffs. 

Paul Ashworth, a chief North American economist at Capital Economics, shared his opinion on the topic of discussion. 

According to Ashworth, while uncertainty could have influenced some investment decisions, quarterly FDI was difficult to forecast and could be influenced by specific transactions, like mergers, acquisitions, or large projects.

He called the first-quarter figures “probably noise” instead of suggesting a more serious issue regarding FDI entering the US. 

Economists warn against the longer-term risk to the dollar

In the first quarter, the US current account deficit grew to an all-time high because companies rushed to bring imports to avoid President Donald Trump’s large tariffs on imported goods.

The Commerce Department’s Bureau of Economic Analysis said the current account deficit, a measure of the flow of goods, services, and investments into and out of the United States, surged from $138.2 billion, or 44.3%, to a record of  $450.2 billion.

Fourth-quarter data was revised to show the shortfall at $312.0 billion instead of $303.9 billion, as reported last month. Economists polled had also anticipated the deficit would increase in the fourth quarter to $443.3 billion.

The deficit was equal to 6.0% of gross domestic product, the highest since the third quarter of 2006, when it was 6.3%. That was higher than 4.2% in the October-December quarter.

Goods imports surged $158.2 billion to an all-time high of $1.00 trillion. That rise was driven mostly by nonmonetary gold and consumer goods, notably medicines, dental goods, and pharmaceuticals.

Contrastingly, service imports dropped $1.8 billion to $217.8 billion. Reduced payments for using intellectual property, such as licenses for research and development results, primarily drove this decline.

Still, economists cautioned that the growing current account gap and burgeoning federal government budget deficit represent a longer-term risk to the dollar. Furthermore, Trump’s across-the-board tariffs have dulled some of the dollar’s safe-haven status.

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Ripple triggers a surge in XRP Ledger activity with the latest update

Ripple triggers a surge in XRP Ledger activity with the latest update

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The XRP Ledger (XRPL) has successfully rolled out Software Update 2.5.0, a major release that brings in a high-powered combination of new features and improvements to the network. 

This is one of the most ambitious software releases in XRPL history, opening new use cases for the technology and moving it and the token in line with the broader crypto and blockchain community.

One interesting new feature in this flavor is the ability to batch your transactions and aggregate as many operations into a single transaction as desired.

Such flexibility is even more helpful for companies, enterprises, and fintech projects, which require the ability to perform fast bulk payments or token airdrops. e.g., payroll, airdrop, and dApp token distribution services can now be cheap and have very few on-chain transactions.

Integration also includes support for token escrow, a feature enabling assets, including RLUSD and other tokens, to be locked for future release. This is a must-have for financial products (vesting schedules, timed payouts, deposit management systems, etc.). It allows developers to build even more sophisticated and secure DeFi tools on the XRP Ledger.

Permissioned DEXs are another major redevelopment of the platform. In contrast to the traditional DEX open to everyone, permissioned DEXs offer more versatility for developers, who can limit access according to their requirements for regulations, thus offering a more managed space for transactions.

Ripple triggers a surge in XRP Ledger activity with the latest update

Performance metrics of the network have been increasing in the software update quickly than expected. In the two weeks before the update, daily active addresses increased more than 7x, signaling increased user and developer interest. Analysts view this as a demand increase for XRPL’s growing scope.

After previously being hyped as the chain of choice for trading with meme coins and NFTs, Solana, whose meme coin activity has since dived, has already lost most of its dominance to competitors such as BNB Chain.

Furthermore, according to reports, $2.5 billion worth of capital has fled the Solana network over the past weeks. Ethereum has also been affected by scalability issues.

By contrast, the XRP ecosystem is going gangbusters. According to market data, it’s attracting interest from large financial institutions. The CME Group, one of the world’s largest derivatives marketplaces, recently labeled XRP as the most-watched cryptocurrency.

In addition, the XRP Ledger continues to make new collaborations with significant financial players such as Uphold and Ondo Finance. These integrations continue to push XRPL’s functionality into trading digital assets, tokenizing real-world assets, and cross-border finance use cases more commonly associated with Ethereum-based protocols.

XRP price jumps 6% following Ripple’s update

The XRP has also bounced back strongly after the 2.5.0 update. In the first few hours after the update, the coin spiked almost 6%, reversing last Sunday’s crushing of the market cap of heaps of cryptocurrencies.

This price action tells us the investor community doesn’t think this software update will be a technical patch upgrade, but rather a fundamental upgrade.

Providing features such as the ability to batch transactions and escrow tokens is a real-world utility for the XPR Ledger, so this has the potential to attract further developers, startups, and companies to build their businesses on top of the XRP Ledger.

A few months ago, Mayukha Vadari, senior software engineer at RippleX, teased that version 2.5.0 would be a game changer! During her comments at a developer livestream in May, for example, she said the update could make XRPL well-positioned to overcome Ethereum and Solana in terms of scalability and institutional adoption.

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