{"id":808,"date":"2025-05-25T12:49:50","date_gmt":"2025-05-25T12:49:50","guid":{"rendered":"https:\/\/bitunikey.com\/news\/trump-hosts-memecoin-dinner-ethics-be-damned-polygon-boss-resigns-wlfi-and-binance-weekly-recap\/"},"modified":"2025-05-25T12:49:50","modified_gmt":"2025-05-25T12:49:50","slug":"trump-hosts-memecoin-dinner-ethics-be-damned-polygon-boss-resigns-wlfi-and-binance-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/trump-hosts-memecoin-dinner-ethics-be-damned-polygon-boss-resigns-wlfi-and-binance-weekly-recap\/","title":{"rendered":"Trump hosts memecoin dinner \u2014 ethics be damned; Polygon boss resigns; WLFI and Binance | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Today\u2019s edition of the weekly recap covers a shakeup at Polygon, World Liberty Financial\u2019s response to collaboration allegations, and the Trump administration\u2019s exclusive dinner with top memecoin holders.<\/p>\n<h3 class=\"wp-block-heading\">Coin holders chow down with Trump<\/h3>\n<ul class=\"wp-block-list\">\n<li>President Donald Trump held an exclusive dinner Thursday night at Trump National Golf Club in Washington for the top 220 holders of his Trump (TRUMP) meme coin.<\/li>\n<li>The gathering has sparked criticism from both parties as a broad attempt to monetize the presidency, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/casten.house.gov\/imo\/media\/doc\/trump_memecoin_dinner_letter_final.pdf\" target=\"_blank\" rel=\"nofollow\">violating<\/a> federal bribery laws. The White House maintains the dinner followed ethical guidelines but has declined to reveal the identities of the guests.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Polygon co-founder Bjelic announces departure<\/h3>\n<ul class=\"wp-block-list\">\n<li>Mihailo Bjelic, one of four co-founders of the Polygon (POL) network, revealed his decision to step down from the Polygon Foundation board and reduce his day-to-day involvement with Polygon Labs.<\/li>\n<li>Co-founder Sandeep Nailwal acknowledged Bjelic\u2019s contributions to the network and offered his support for Bjelic\u2019s future endeavors.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">World Liberty Financial disputes Binance collaboration report<\/h3>\n<ul class=\"wp-block-list\">\n<li>World Liberty Financial co-founder Zak Folkman <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/worldlibertyfi\/status\/1925921902092058872\" target=\"_blank\" rel=\"nofollow\">denied<\/a> a Wall Street Journal report suggesting Binance founder Changpeng Zhao helped in foreign introductions for the Trump-associated DeFi platform.<\/li>\n<li>Folkman characterized claims that Zhao acted as a \u201cfacilitator\u201d or \u201cfixer\u201d for Folkman\u2019s fellow WLFI co-founder, Zach Witkoff, as \u201cnot only false, it\u2019s laughable.\u201d<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Semler Scientific adds $50 million in Bitcoin<\/h3>\n<ul class=\"wp-block-list\">\n<li>The medical equipment company acquired 455 Bitcoin (BTC) for $50 million. Through its at-the-market equity offering program, the purchase was made for an average of $109,801 per Bitcoin.<\/li>\n<li>Semler Scientific posted a 22.2% year-to-date Bitcoin yield in the first quarter of this year.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Major US banks explore joint stablecoin venture<\/h3>\n<ul class=\"wp-block-list\">\n<li>Leading financial firms including JPMorgan, Bank of America, CitiGroup, and Wells Fargo are discussing a potential collaborative stablecoin project, according to Wall Street Journal <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/banking\/crypto-stablecoin-big-banks-a841059e\" target=\"_blank\" rel=\"nofollow\">reporting<\/a>.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Strategy announces $2.1 billion preferred stock offering<\/h3>\n<ul class=\"wp-block-list\">\n<li>The company, formerly known as MicroStrategy, filed with the SEC on Thursday to raise $2.1 billion through additional preferred stock issuance.<\/li>\n<li>The Perpetual Strife Preferred Stock (STRF) offers institutional investors a 10% annual cash dividend with an escalation mechanism that increases payouts if Strategy misses payments.<\/li>\n<li>The firm also acquired an additional 7,390 BTC for approximately $764.9 million between May 12-18.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Cetus Protocol suffers $223 million hack<\/h3>\n<ul class=\"wp-block-list\">\n<li>The largest decentralized exchange and liquidity provider on the Sui (SUI) network reported a major security breach resulting in $223 million worth of stolen tokens.<\/li>\n<li>According to Cetus Protocol\u2019s X announcement, $162 million of the stolen funds have been \u201cpaused.\u201d The team is also working alongside the Sui Foundation to recover remaining assets.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">FIFA partners with Avalanche for blockchain initiative<\/h3>\n<ul class=\"wp-block-list\">\n<li>Football\u2019s global governing body announced plans to use Avalanche\u2019s (AVAX) network infrastructure to power its dedicated layer-1 blockchain.<\/li>\n<li>The FIFA Blockchain will function as an Avalanche L1<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Bitcoin reaches a new all-time high<\/h3>\n<ul class=\"wp-block-list\">\n<li>Bitcoin rallied past its previous all-time high in the USD and USDT markets on Wednesday and extended gains on Thursday, climbing to a peak of $111,880. Bitcoin\u2019s breakout failed to usher euphoria among traders and the reaction on derivatives traders was muted, relative to previous BTC price rallies.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">SafeMoon CEO convicted on fraud charges<\/h3>\n<ul class=\"wp-block-list\">\n<li>A federal jury found SafeMoon CEO Braden John Karony guilty on three counts of fraud related to a cryptocurrency scheme that allegedly defrauded investors of millions.<\/li>\n<li>Karony faces up to 45 years in prison on charges including conspiracy to commit securities fraud, wire fraud, and money laundering.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">World raises $135 million in token sale<\/h3>\n<ul class=\"wp-block-list\">\n<li>Sam Altman\u2019s blockchain project World completed a $135 million private token sale of its World (WLD) token to venture capital firms a16z and Bain Capital Crypto.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">SEC sues Unicoin<\/h3>\n<ul class=\"wp-block-list\">\n<li>The SEC filed a lawsuit against Unicoin and its executives based on violations of securities laws in their $100 million token raise.<\/li>\n<li>The SEC alleges the team made \u201cfalse and misleading statements and material omissions\u201d across various public forums during their fundraising activities.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">India\u2019s Supreme Court questions crypto policy delays<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Supreme Court has questioned why India\u2019s central government cannot formulate a \u201cclear cut\u201d cryptocurrency regulation policy, according to an Economic Times <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/why-cant-centre-have-clear-cut-policy-on-bitcoin-trade-sc-asks\/articleshow\/121273723.cms?from=mdr\" target=\"_blank\" rel=\"nofollow\">report<\/a>.<\/li>\n<li>Justices Surya Kant and N Kotiswar Singh noted concerns about a \u201cparallel under-market\u201d for cryptocurrency that could negatively impact the economy.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">Genesis committee files new DCG recovery lawsuits<\/h3>\n<ul class=\"wp-block-list\">\n<li>The Genesis Litigation Oversight Committee initiated fresh legal action against parent company Digital Currency Group, CEO Barry Silbert, and other executives to recover billions allegedly misappropriated in 2022.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\">GENIUS Act gains momentum <\/h3>\n<ul class=\"wp-block-list\">\n<li>The stablecoin legislation regained political traction by passing a key procedural vote Monday evening and set the bill on track for potential passage within days.<\/li>\n<li>This is a major turnaround after the GENIUS Act failed the same procedural cloture vote less than two weeks ago.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s edition of the weekly recap covers a shakeup at Polygon, World Liberty Financial\u2019s response to collaboration allegations, and the Trump administration\u2019s exclusive dinner with top memecoin holders. Coin holders&hellip;<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=808"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/808\/revisions"}],"predecessor-version":[{"id":810,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/808\/revisions\/810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/809"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}