Trump Media unwinds crypto deals

World Liberty Financial received $100 million through an Aqua 1 token purchase tied to Guren “Bobby” Zhou, a businessman the NYT says was arrested in Britain in 2021 on suspicion of money laundering. Zhou hasn’t been charged, but British officials told the Times the investigation was still active in late July and that the source of the funds remains unclear. Read more →

In other Trump/Crypto-related news, only one year after agreeing to form a digital treasury company to buy billions of dollars of Crypto.com’s token (CRO), Trump Media ended the deal Friday. The two companies also dropped a plan to offer prediction markets on Truth Social, as well as ETF offerings. Read more →

Former Defense Secretary Mark Esper – now a member of Coinbase’s advisory council – is making a new case for Clarity: pass it as a matter of national security. In an Financial Times op-ed, Esper argues that clearer crypto rules would help keep financial activity and innovation in the U.S., preserve the dollar’s influence and give authorities stronger tools against actors like North Korea.

There’s also a meaningful update since last week: Senate Majority Leader John Thune did file to advance Clarity before recess, setting up its first procedural vote for September 15. It needs 60 votes to move forward, and major disputes are still unresolved. Read more →

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