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At the end of a three-hour hearing last month, Senator Ruben Gallego, Democrat of Arizona, sided with a group of Republicans in a hotly contested debate. He voted to advance the GENIUS Act, a bill backed by the cryptocurrency industry. “It’s clear that digital assets are here to stay,” Mr. Gallego said after the Senate…
The Trump administration is disbanding a unit in the Justice Department that was responsible for investigating cryptocurrency crimes, criticizing the Biden administration as too aggressive against the fast-growing industry. In a memo issued late Monday, Todd Blanche, the deputy attorney general, denounced his predecessors for investigating cryptocurrency operators in a manner he called “ill conceived…
Two of President Trump’s sons announced on Monday that they were investing in a new Bitcoin mining venture, an expansion of the family’s business interests in the crypto industry. Eric Trump and Donald Trump Jr. said they would join forces with the Bitcoin mining company Hut 8 to create a firm called American Bitcoin. Bitcoin…
Sitting beneath a portrait of Abraham Lincoln, more than two dozen of the most powerful figures in the U.S. cryptocurrency industry, together worth many billions of dollars, gathered in the White House on Friday for an audience with President Trump. When Mr. Trump entered the ornate State Dining Room after a short wait, the executives…
Consulting with a lawyer who has ties to President Trump. Reaching out to Washington lobbyists. And sitting for a jailhouse interview with Tucker Carlson. Sam Bankman-Fried, the disgraced cryptocurrency mogul who was once a top Democratic donor, has embarked on a long-shot campaign to secure a pardon from the Trump administration, six people with knowledge…
President Trump signed an executive order on Thursday to create a national stockpile of Bitcoin and other digital currencies, an adviser said, an audacious idea that has been widely criticized as a scheme to enrich crypto investors. The basis of the stockpile will be a stash of Bitcoin, estimated to be worth as much as…
On the night of Feb. 21, Ben Zhou, the chief executive of the cryptocurrency exchange Bybit, logged on to his computer to approve what appeared to be a routine transaction. His company was moving a large amount of Ether, a popular digital currency, from one account to another. Thirty minutes later, Mr. Zhou got a…
The crypto market gives and takes: After President Trump’s plan for a national crypto reserve drew backlash from both Republicans and investors, the prices of digital tokens that would be involved soared higher — and then tumbled. (Bitcoin was trading at about $83,800 early on Tuesday, down nearly $10,000 from a day ago.) The plan…
Federal officials declared that so-called memecoins would not be subject to strict oversight. A series of investigations into major cryptocurrency firms were halted. And the Securities and Exchange Commission agreed to pause a fraud case against a top crypto entrepreneur. Just over a month since President Trump’s inauguration, U.S. regulators have almost entirely dismantled a…
The scandal began with a tweet. “The world wants to invest in Argentina,” Javier Milei, Argentina’s president, posted at 7:01 p.m. on Valentine’s Day, offering a code to buy a new cryptocurrency. The digital coin was called $Libra, and it had been created 23 minutes earlier. Over the next few hours, thousands of people invested….
