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Cryptocurrency Firms Contribute Millions to Trump's Inauguration Fund Cryptocurrency companies have donated at least $10 million to President-elect Donald Trump's inauguration fund, celebrating his second term as the first explicitly pro-crypto U.S. president. Major contributors include Ripple, Coinbase, Kraken, Robinhood, and Circle. These companies are leveraging their influence to pursue favorable regulatory changes and policy frameworks under the incoming administration. The crypto industry has also funneled over $160 million into a super PAC to elect lawmakers supportive of their agenda. A sold-out unofficial inaugural ball featuring Snoop Dogg is planned for Friday, sponsored by various digital asset firms. Despite this enthusiasm, the significant financial contributions have drawn criticism from Democrats and watchdog groups concerned about potential influence-buying.
President-elect Donald Trump Launches $TRUMP Meme Coin President-elect Donald Trump has introduced a meme coin named $TRUMP on the Solana blockchain, which quickly amassed a market capitalization exceeding $6 billion. Promoted via his social media platform, Truth Social, this initiative aligns with his commitment to a crypto-friendly administration. However, significant insider ownership, particularly by entities like Fight Fight Fight and CIC Digital, has raised concerns about potential conflicts of interest and foreign influence. Despite these issues, major crypto exchanges have listed the coin, anticipating it will attract more users to the crypto market.
Mark Karpelès Plans Return to Crypto Industry with EllipX Exchange Mark Karpelès, the former head of the Mt. Gox cryptocurrency exchange, is making a comeback in the digital assets industry with a new venture called EllipX. Karpelès, who faced legal issues following the collapse of Mt. Gox in 2014, aims to restore trust in the industry by emphasizing security and transparency in his new exchange. EllipX, owned by Karpelès and based in Poland, has already attracted 17,000 users in Europe and is seeking approval from the UK's Financial Conduct Authority.
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