Today in Crypto, a new bill introduced to the US Congress aims to ban public officials from profiting digital assets. Despite increasing in the Middle East, the global crypto fund has spread to volatility in the market, with investors pouring more than $ 1 billion on crypto products last week. Meanwhile, Michaelygy’s Michael Saylor has told another potential Bitcoin purchase.
Democratic Senator introduced Bill to meet Trump’s crypto relationships
California senator Adam Schiff and nine other democratic lawmakers have introduced the law to avoid what they call the “financial exploitation of digital ownership” by the US president and other public officials.
In an announcement on Monday, Schiff and many Democratic senators Says They introduced the income and nondisclosure, or coins of officers, or laws, in response to President Donald Trump’s connections to the cryptocurrency industry. The proposed law Followed Trump’s disclosure of $ 57.4 million In revenue tied to the World Liberty Financial (WLF), the crypto platform supported by his family members.
“Deal with Cryptocurrency President Donald Trump has increased significant ethical, legal and constitutional concerns in his use of the presidential office to enrich himself and his family,” Schiff said. “That is why I introduce the law to avoid financially exploitation of any digital assets of public officials, including the President and the first family.”
Previously attempted by Congress members push by law Some elected officials, including presidents and their families, are prohibited from investing in stocks and other owners while in office. However, Schiff’s proposed bill may expand a ban on the release, sponsorship or endorsement of cryptocurrencies, memecoins, unimaginable tokens and stablecoins “180 days before and 2 years after” an individual’s “time” time.
Crypto funds posted $ 1.2 billion flowing across the market panic: Coinshares
Cryptocurrency investment products continue Attract strong interest of investor last week Despite the major crypto assets such as Bitcoin and Ether posted well -known price drops.
The Global Crypto Exchange-Traded Products (ETP) reported on Monday.
In the latest outflows, the Crypto ETPs continued to destroy the year-to-date (YTD) flow records (YTD), setting a new historic high of $ 15.1 billion, CoinShares’s research leader, James Butterfill, said.
Despite the ongoing flow, the total ownership under Management (AUM) in crypto ETPs dropped from $ 179 billion in the past week to $ 176.3 billion by the end of last week.
Bitcoin (Btc) ETPs saw a second consecutive week of flowing, worth $ 1.1 billion, despite BTC prices coming down from around $ 108,800 on June 16 to $ 103,000 at the end of the week, According to This coingecko.
The resistance to growing the Dynamic Bitcoin ETP despite the falling price of the area indicates that investors are buying weakness, the butterfill of Coinhares suggested.
“This emotion is further supported by minor outflows from short-bitcoin products, worth $ 1.4 million,” he added.
Ether (Eth) The ETPs recorded their ninth consecutive week of flow, netting $ 124 million last week and brought the total flow to $ 2.2 billion.
“It has marked the longest run of flows since mid-2021, reflecting the investor’s ongoing stable feelings towards the property,” Butterfill said.
Saylor Hints Next Bitcoin Buy As Investor Suees Over Strategy’s Q1 Loss
Michael Saylor reiterated it The approach will buy more bitcoinEven the company formerly known as microstrategy and its top copper has been hit by an investor’s suits at $ 5.9 billion first-quarter loss in its handling in Bitcoin.
Saylor Na -Post a chart showing Strategy past bitcoin (Btc) Purchases on X on Sunday with the caption: “Nothing stops this orange.”
His past Similar posts of cryptic x became precursor in the approach to buying bitcoin. The company has the largest Bitcoin handling of all public companies at 592,100 BTC, worth nearly $ 59.7 billion, with bitcoin trading at just $ 101,000.
However, the days only come after the approach and the leading executives of the company were charged with an investor on Thursday, claiming that they had violated their duties of certainty before reporting a multibillion-dollar loss of bitcoin in the first quarter results.
