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BiyaPay Analyst: US Rejects "End Crypto Corruption" Amendment, Trump Family Profits $6.2 Billion from Crypto Project
BlockBeats News, July 3rd, the "End Crypto Corruption" amendment proposed by US Democratic Senator Merkley failed to pass. The original purpose of this bill was to prohibit elected officials from using their positions to profit from involvement in cryptocurrency projects, but it ultimately did not receive enough support in the Senate. The rejection of this bill reflects the increasingly close relationship between the US political scene and the crypto market, raising concerns about political corruption and collusion.
The Trump family has recently profited from multiple cryptocurrency projects, totaling about $620 million, nearly 10% of their net worth. Among them, the Trump family obtained about $390 million through the World Liberty token sale and $150 million in profit through Trump Meme Coin. Additionally, the Trump family holds a 20% stake in the crypto mining company American Bitcoin, and is expected to gain more profits through a merger and listing with Gryphon Digital Mining.
This event highlights the close connection between the crypto market and politics. Although the US political scene has not passed relevant regulations, other countries such as Singapore and the EU have taken measures to restrict officials from participating in crypto projects to enhance transparency. For BiyaPay users, while the rejection of this bill may not immediately impact the politicalization of the crypto industry, in the long run, this "gray area" may increase market uncertainty and risk.
In such a market environment, BiyaPay is committed to providing users with secure, transparent cryptocurrency trading services, supporting USDT exchange with multiple fiat currencies (such as USD, EUR, etc.), and offering users zero-fee spot and contract trading, as well as US and Hong Kong stock services to help users mitigate potential market risks.
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