Schlagwort: crypto business

• Crypto founder’s stake in Trump-linked ventures now exceeds $93 million.
• He is currently in discussions with the US Securities and Exchange Commission to settle civil fraud allegations.
• The dinner is part of a sweepstakes-style campaign linked to the $TRUMP token, which grants exclusive access to the top 25 holders.

Crypto entrepreneur Justin Sun has emerged as the leading holder of the Trump-themed meme token $TRUMP, securing an invitation to a private dinner with President Donald Trump, along with access to a VIP gala reception.

The dinner is part of a sweepstakes-style campaign linked to the $TRUMP token, which granted exclusive access to the top 25 holders.

Sun announced late Monday on X that he topped the leaderboard, holding approximately $18.6 million worth of the token.

Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!

As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry. 🇺🇸 https://t.co/FYb39LTwDz

— H.E. Justin Sun 🍌 (@justinsuntron) May 20, 2025

“As the top holder of $TRUMP, I’m excited to connect with everyone, talk crypto, and discuss the future of our industry.”

Justin Sun and Trump’s crypto projects

In addition to his $TRUMP holdings, Sun has invested $75 million into World Liberty Financial — a separate Trump-linked crypto initiative described by Trump’s sons as a decentralized bank.

According to its structure, 75% of the platform’s revenue flows to entities owned by Trump.

Combined, Sun’s investments across the Trump crypto ecosystem now total more than $93 million.

Sun, who was born in China, is the founder of the Tron blockchain.

He is currently in discussions with the US Securities and Exchange Commission to settle civil fraud allegations.

The crypto founder was sued by the US Securities and Exchange Commission in 2023, which alleged that he orchestrated the unregistered offer and sale of securities through entities he owns and controls — the Tron Foundation, BitTorrent Foundation Ltd., and Rainberry Inc.

With former SEC Chair Gary Gensler no longer at the agency, both the SEC and Sun’s legal team are now reportedly seeking to pause the case.

The controversy around Trump’s meme coin dinner

Trump’s plan to host the event has sparked controversy, with Democratic Senators Elizabeth Warren and Adam Schiff calling for a federal ethics investigation.

They allege the initiative amounts to a “pay-to-play” scheme rife with “corruption and foreign influence,” citing that a significant number of traders involved in the coin appear to be based outside the United States.

The $TRUMP token rose about 4% on Tuesday, trading at $13.23, according to CoinMarketCap.

That price values its circulating supply at $2.65 billion, placing it among the top 40 cryptocurrencies by market capitalization.

Despite its valuation, the $TRUMP token, like many meme coins, lacks an underlying product or utility.

Its website makes clear that the token is “not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”

The post Justin Sun becomes top holder of $TRUMP token, claims spot at Trump Gala Dinner appeared first on CoinJournal.

• BarriC forecasts XRP to hit $10–$20 in current altcoin season.
• Analyst expects a market correction to $5–$10 post-surge.
• XRP Spot ETF and broader utility may trigger short-term rally.

XRP, Ripple’s native token, has seen renewed attention from market analysts following a notable price retreat from its multi-year high of $3.34 in January 2025.

Now trading at $2.35, up 1.46% in the past 24 hours, XRP is prompting speculation over whether its current consolidation is a sign of accumulation before another major rally.

One of the more ambitious projections comes from a crypto market commentator known as BarriC, who believes XRP is on track to reach a $1,000 valuation over the long term.

While that figure might appear extreme to some investors, the forecast lays out a multi-stage path supported by historical price cycles, potential ETF approval, and eventual mass adoption by global banks.

Mid-cycle dip to $5 possible

According to BarriC’s recent post on social media platform X, XRP’s current trading zone is being misinterpreted as a sign of failure.

He suggests that this consolidation period is a prelude to a significant breakout, driven by broader altcoin momentum and possible utility gains in financial systems.

The commentator suggests XRP could climb to between $10 and $20 within the next few months, a move that would depend heavily on increased trading activity and possible catalysts such as the approval of a Spot XRP ETF or direct integration with financial institutions.

These scenarios could push XRP into the final stages of the current altcoin season.

BarriC warns that after this potential surge, XRP could see a sharp correction, in line with historical crypto market patterns.

Referencing previous cycles dating back to 2016, he notes that 50% drawdowns are not uncommon following parabolic runs.

If XRP follows this trend, the token could drop back to a $5 to $10 range before beginning its next phase.

However, the analyst argues that this would likely be the last time XRP trades in the single digits.

He classifies this stage as a “mid-cycle dip,” after which XRP may enter a structurally different valuation zone—no longer driven purely by speculative forces but by real-world financial infrastructure use cases.

Institutional flows key to $1,000

The $1,000 forecast hinges on the assumption that XRP becomes a foundational element in institutional finance.

BarriC believes that once banks begin integrating the XRP Ledger into daily operations, trillions of dollars in volume could flow through the network consistently.

This, in his view, would bring an end to the volatility that has long defined XRP’s price behaviour.

He claims that under such conditions, XRP could stabilise at $1,000—not as a temporary high but as a long-term structural base.

In this future scenario, investors may only be able to purchase fractions of XRP, much like how Bitcoin has become inaccessible in whole units for most retail traders.

Although such institutional adoption has not materialised at scale, the analyst argues that regulatory clarity and cross-border payment utility could eventually push XRP into mainstream finance.

The post Can XRP hit $1,000? Analyst reveals bold multi-phase price forecast appeared first on CoinJournal.

Landmark legislation aimed at establishing a regulatory framework for stablecoins in the United States took a significant step forward in the Senate on Monday night, as lawmakers voted to overcome a critical procedural obstacle, setting the stage for further debate and an eventual final vote on the bill’s passage.

In a decisive move, Senators comfortably surpassed the 60-vote threshold required to advance the stablecoin bill, signaling a renewed momentum for the much-anticipated legislation.

This procedural vote does not enact the bill into law but formally moves it to a period of extended debate before a final series of votes will determine its fate in the upper chamber.

Concurrently, the House of Representatives is progressing with its own version of stablecoin legislation, with both chambers aiming to create comprehensive rules for these digital assets and their issuers within the US financial system.

The successful vote on Monday marks a notable turnaround from an earlier attempt on May 8, when the Senate failed to garner the necessary 60 votes to advance the bill.

That previous setback was attributed to concerns raised by some Democratic lawmakers regarding provisions related to consumer protection and national security.

Interestingly, that initial vote saw bipartisan opposition, with Republican Senators Josh Hawley and Rand Paul also voting against cloture, the procedural motion to end debate and move to a vote.

Negotiations and compromise: addressing concerns

Despite the earlier legislative hiccup, industry observers and participants had anticipated a smoother passage on Monday.

This optimism stemmed from intensive negotiations undertaken by lawmakers over the past week, which focused on refining the bill’s language to address the concerns that led to its initial stall.

While many of the reported changes appeared to be marginal, they were evidently sufficient to sway key votes.

An individual closely following the negotiation process indicated to CoinDesk earlier on Monday that the newest iteration of the bill contained “enough” to alleviate some of the Democrats’ previous concerns.

However, this source also suggested that the negotiating lawmakers could have incorporated more robust consumer protection measures.

The efforts to find common ground proved fruitful. Following the latest revisions, several Democratic lawmakers who had previously voted against advancing the bill, including prominent Senators Ruben Gallego and Mark Warner, announced their intention to vote in favor of cloture ahead of Monday night’s crucial vote, signaling a critical shift in support.

This development underscores the delicate bipartisan maneuvering required to navigate complex financial regulation through the Senate.

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