US President Donald Trump has responded to criticism of his 2025 financial disclosures, showing that he earned $1.4 billion in income from crypto-related ventures while in office.In a Thursday interview with CNBC’s Joe Kernen, Trump said that there was “nothing illegal” and “nothing wrong” with profiting from his crypto investments as president. He claimed that other people were responsible for his investments and he didn’t “even know who they are,” not directly answering questions about perceived conflicts of interest as president. Donald Trump (left) and Joe Kernen (right). Source: CNBCTrump’s comments followed the release of his 2025 financial disclosure report by the US Office of Government Ethics, showing that he took in more than $2 billion from his businesses and investments, about $1.4 billion of which was connected to crypto projects like his memecoin and family’s platform World Liberty Financial. Many advocacy organizations have characterized the investments as a “grift” allowing the president to influence related legislation like the Digital Asset Market Clarity (CLARITY) Act.Following his first term as US president, Trump called Bitcoin (BTC) a “scam.” However, in the lead-up to the 2024 election, he began cozying up to many high-profile figures in the crypto industry, including Gemini co-founders Cameron and Tyler Winklevoss and executives at mining companies and exchanges. He has since launched his own memecoin, Official Trump (TRUMP), in addition to his family’s involvement in World Liberty and American Bitcoin.Related: Donald Trump has 10 days to decide on housing bill with CBDC banOf the $1.4 billion tied to crypto, Trump disclosed that his memecoin generated about $636 million, World Liberty sales about $588 million and $197 million from equity in a stablecoin venture.“Donald is once again pushing the envelope and nobody, nobody is putting the brakes on it,” Mary Trump, the president’s niece, said in a Friday interview with CNN’s Anderson Cooper. “At the end of the day, because of his abuse of the presidential pardon power, a lot of people are likely to get away with a lot of financial crimes that have done real harm to people that have invested in Donald’s businesses because they believed in him and what he was selling.”Crypto industry bets big on 2026 US electionsAfter digital asset companies spent a reported $170 million toward supporting whom they considered “pro-crypto” candidates to Congress in 2024, political action committees (PACs) and organizations appear to have adopted the same playbook for 2026.According to the consumer advocacy group Public Citizen, companies and figures tied to the crypto industry had contributed $189 million toward this year’s election cycle as of June. The contributions made up the bulk of the $294 million from the crypto, AI, Big Tech and online betting companies spent so far to support or oppose politicians.Trump’s term ends in January 2029, but all 435 seats in the US House of Representatives and 35 in the Senate are up for grabs in the 2026 races.Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

The European Securities and Markets Authority (ESMA) has warned that many prediction market contracts may already fall under existing restrictions on binary options, saying companies cannot avoid financial regulations simply by marketing them as “event contracts.”In a public statement on Friday, the regulator reminded companies that event contracts meeting the definition of financial instruments are already prohibited from being marketed, distributed or sold to retail investors under national measures implementing ESMA’s 2018 binary options restrictions.ESMA said the assessment depends on a contract’s characteristics rather than how it is marketed, adding that event contracts with binary outcomes and fixed payouts are likely to qualify as financial instruments subject to the restrictions.The regulator also told companies that offering qualifying event contracts to professional or institutional clients still requires authorization under the EU’s Markets in Financial Instruments Directive, or MiFID II, regardless of whether retail investors are excluded.Excerpt from ESMA’s July statement on event contracts. Source: ESMAThe statement does not introduce new restrictions. ESMA said it issued the reminder after observing increased offerings of event contracts and the rapid growth of prediction markets, noting that qualifying binary options have already been subject to national restrictions across the EU since 2018.Related: StanChart joins ESMA’s first MiCA register update since deadlineUS prediction markets face growing legal battleIn the United States, a regulatory battle over prediction markets is unfolding, pitting state gaming regulators against the Commodity Futures Trading Commission (CFTC) over whether event contracts should be treated as gambling or federally regulated derivatives.By March, authorities in 11 states had taken legal or regulatory action against platforms including Kalshi and Polymarket. Nevada became the first state to temporarily block Kalshi’s operations, while Arizona brought criminal charges alleging the company was operating an illegal gambling business.The following month, the CFTC asserted “exclusive jurisdiction” over prediction markets, saying Congress had entrusted the agency with sole authority to regulate commodity derivatives markets, including event contracts. The regulator also said it had sued several states and filed court briefs supporting platforms, including Kalshi.The CFTC’s April announcement defending its authority over prediction markets. Source: CFTC.govThe legal battle has continued to escalate. On June 30, a Massachusetts judge allowed state authorities to file an amended complaint against Kalshi in an ongoing lawsuit alleging that the company’s sports-event contracts constitute illegal gambling under state law.The dispute has also prompted calls for congressional action. Last month, the Indian Gaming Association and American Gaming Association, joined by tribal and labor groups, urged lawmakers to amend the CLARITY Act to explicitly prohibit sports-related event contracts on prediction market platforms, arguing they fall outside the CFTC’s authority and should remain subject to state gambling laws.Some legal experts believe the growing conflict between federal and state regulators over prediction markets could ultimately be decided by the US Supreme Court.Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

For years, Michael Saylor’s Strategy built its brand around a simple mantra: Buy Bitcoin. Never sell. This week, that narrative changed.  The company authorized up to $1.25 billion in Bitcoin sales under a new capital framework. At current prices, that equates to roughly 21,000 BTC that could eventually hit the market — a reminder that even Bitcoin’s most committed corporate holder isn’t immune to the realities of capital management.This week’s Crypto Biz explores how the digital asset industry is entering a more pragmatic phase, where ideological purity is giving way to financial discipline. It also examines the intensifying stablecoin race as issuers compete for reserve yield, Fidelity’s latest defense of Bitcoin’s long-term security model and the crypto industry’s growing political influence ahead of the 2026 US midterm elections.Strategy authorizes $1.25 billion in Bitcoin sales to fund dividends, buybacksStrategy has authorized up to $1.25 billion in Bitcoin sales under a new capital framework that will fund shareholder dividends, bolster cash reserves and repurchase stock while preserving its long-term Bitcoin strategy.The company’s new “Digital Credit Capital Framework” raises the annual dividend on its STRC preferred stock from 11.5% to 12%, establishes a formal Bitcoin monetization program and expands capital return initiatives through buybacks of preferred securities and MSTR shares. Strategy also said its dedicated cash reserve has grown to $2.55 billion, enough to cover roughly 17 months of preferred dividends and interest payments.The framework reflects an evolution in Strategy’s capital allocation. After years of insisting it would never sell Bitcoin, the company has now established a formal monetization program and disclosed selling 32 BTC in June. Strategy made no Bitcoin purchases last week, leaving its holdings unchanged at 847,363 BTC as it places greater emphasis on liquidity management alongside its Bitcoin accumulation strategy.Source: Michael SaylorPayments giants back new stablecoin to challenge USDT, USDCMore than 140 financial and crypto companies have joined forces to launch a new US dollar-backed stablecoin that lets participants retain the yield generated by its reserves, marking one of the industry’s biggest coordinated stablecoin initiatives to date.The Open USD (OUSD) project is backed by major payments companies, including Visa and Mastercard, alongside crypto companies such as Coinbase, Ripple, OKX and Bybit. Unlike traditional stablecoin models, OUSD will allow businesses to mint tokens without fees or volume limits while keeping the reserve earnings — a feature supporters say could help the token gain market share from incumbents Tether’s USDt (USDT) and Circle’s USDC (USDC).The launch comes as the US adopts a more favorable regulatory stance toward stablecoins following passage of the GENIUS Act. Open Standard plans to roll out OUSD later this year, entering a market already worth more than $300 billion that many analysts expect to expand rapidly over the rest of the decade.Source: Open StandardFidelity says Bitcoin’s long-term security isn’t threatened by halvingFidelity Digital Assets is pushing back against claims that Bitcoin’s long-term security will weaken as mining rewards decline, arguing that rising transaction fees, market incentives and Bitcoin’s price appreciation should continue to keep the network secure.In a new research report, Fidelity said Bitcoin’s economic model extends beyond block subsidies, challenging the view that successive halving events will eventually undermine miners’ incentives. Research analyst Daniel Gray noted that although block rewards have steadily declined, average daily miner revenue has grown from $1.3 million between 2012-2016 to $40.2 million today. The report comes as Bitcoin miners grapple with mounting financial pressure following the latest halving. Many publicly traded mining companies are expanding into AI and high-performance computing to diversify revenue streams, even as Fidelity maintains that the network’s long-term security model remains intact.Source: Fidelity Digital AssetsCrypto industry pours $189 million into 2026 US electionsCrypto companies have contributed roughly $189 million to the 2026 US election cycle, accounting for an estimated 37% of all corporate political spending so far, according to a new report by consumer advocacy group Public Citizen.The report found that crypto-backed political action committees (PACs) are once again driving much of the industry’s political influence. Fairshake has spent more than $82 million this cycle, while the pro-Trump MAGA Inc. Super PAC — heavily backed by Crypto.com — has spent more than $56 million. Public Citizen said the groups are following the same strategy used in 2024, backing candidates from both major parties who support the industry’s policy agenda.Crypto’s political spending has already surpassed the roughly $170 million deployed during the 2024 election cycle, with more than four months remaining before November’s elections. Source: Public CitizenCrypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

For years, Michael Saylor’s Strategy built its brand around a simple mantra: Buy Bitcoin. Never sell. This week, that narrative changed.  The company authorized up to $1.25 billion in Bitcoin sales under a new capital framework. At current prices, that equates to roughly 21,000 BTC that could eventually hit the market — a reminder that even Bitcoin’s most committed corporate holder isn’t immune to the realities of capital management.This week’s Crypto Biz explores how the digital asset industry is entering a more pragmatic phase, where ideological purity is giving way to financial discipline. It also examines the intensifying stablecoin race as issuers compete for reserve yield, Fidelity’s latest defense of Bitcoin’s long-term security model and the crypto industry’s growing political influence ahead of the 2026 US midterm elections.Strategy authorizes $1.25 billion in Bitcoin sales to fund dividends, buybacksStrategy has authorized up to $1.25 billion in Bitcoin sales under a new capital framework that will fund shareholder dividends, bolster cash reserves and repurchase stock while preserving its long-term Bitcoin strategy.The company’s new “Digital Credit Capital Framework” raises the annual dividend on its STRC preferred stock from 11.5% to 12%, establishes a formal Bitcoin monetization program and expands capital return initiatives through buybacks of preferred securities and MSTR shares. Strategy also said its dedicated cash reserve has grown to $2.55 billion, enough to cover roughly 17 months of preferred dividends and interest payments.The framework reflects an evolution in Strategy’s capital allocation. After years of insisting it would never sell Bitcoin, the company has now established a formal monetization program and disclosed selling 32 BTC in June. Strategy made no Bitcoin purchases last week, leaving its holdings unchanged at 847,363 BTC as it places greater emphasis on liquidity management alongside its Bitcoin accumulation strategy.Source: Michael SaylorPayments giants back new stablecoin to challenge USDT, USDCMore than 140 financial and crypto companies have joined forces to launch a new US dollar-backed stablecoin that lets participants retain the yield generated by its reserves, marking one of the industry’s biggest coordinated stablecoin initiatives to date.The Open USD (OUSD) project is backed by major payments companies, including Visa and Mastercard, alongside crypto companies such as Coinbase, Ripple, OKX and Bybit. Unlike traditional stablecoin models, OUSD will allow businesses to mint tokens without fees or volume limits while keeping the reserve earnings — a feature supporters say could help the token gain market share from incumbents Tether’s USDt (USDT) and Circle’s USDC (USDC).The launch comes as the US adopts a more favorable regulatory stance toward stablecoins following passage of the GENIUS Act. Open Standard plans to roll out OUSD later this year, entering a market already worth more than $300 billion that many analysts expect to expand rapidly over the rest of the decade.Source: Open StandardFidelity says Bitcoin’s long-term security isn’t threatened by halvingFidelity Digital Assets is pushing back against claims that Bitcoin’s long-term security will weaken as mining rewards decline, arguing that rising transaction fees, market incentives and Bitcoin’s price appreciation should continue to keep the network secure.In a new research report, Fidelity said Bitcoin’s economic model extends beyond block subsidies, challenging the view that successive halving events will eventually undermine miners’ incentives. Research analyst Daniel Gray noted that although block rewards have steadily declined, average daily miner revenue has grown from $1.3 million between 2012-2016 to $40.2 million today. The report comes as Bitcoin miners grapple with mounting financial pressure following the latest halving. Many publicly traded mining companies are expanding into AI and high-performance computing to diversify revenue streams, even as Fidelity maintains that the network’s long-term security model remains intact.Source: Fidelity Digital AssetsCrypto industry pours $189 million into 2026 US electionsCrypto companies have contributed roughly $189 million to the 2026 US election cycle, accounting for an estimated 37% of all corporate political spending so far, according to a new report by consumer advocacy group Public Citizen.The report found that crypto-backed political action committees (PACs) are once again driving much of the industry’s political influence. Fairshake has spent more than $82 million this cycle, while the pro-Trump MAGA Inc. Super PAC — heavily backed by Crypto.com — has spent more than $56 million. Public Citizen said the groups are following the same strategy used in 2024, backing candidates from both major parties who support the industry’s policy agenda.Crypto’s political spending has already surpassed the roughly $170 million deployed during the 2024 election cycle, with more than four months remaining before November’s elections. Source: Public CitizenCrypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.