News linked to both this project and an event.
Peter Schiff posted that the Trump family profited billions of dollars by selling cryptocurrencies and Trump-related company stocks to the public, but their earnings did not come from actual value creation, but rather from investors' losses. He pointed out that most victims are inexperienced loyal Trump supporters who mistakenly regarded the related products as legitimate investments. Schiff predicted that the Trump Organization will face numerous lawsuits from victims seeking to recover losses, and the Democratic Party may use this to produce political advertisements to exert public opinion pressure on the Republican Party. Additionally, Schiff also hinted that Trump's recent claim that he "has become a major supporter of cryptocurrency" may be related to pressure from his cryptocurrency donors.
According to PRNewswire, Trump family crypto mining company American Bitcoin announced it will implement a 1-for-15 reverse stock split on July 2, 2026, Eastern Time. Following the split, its common stock will resume trading on the Nasdaq Capital Market at an adjusted price on July 6, 2026. The trading symbol will remain ABTC, but the CUSIP number will be updated.
Odaily, U.S. Senate Democrats have sent a letter to Republican leadership demanding an immediate hearing regarding the potential relationship between the Trump family's crypto project, World Liberty Financial, and the Abu Dhabi royal family.This follows a report by the Wall Street Journal that an investment entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, secretly acquired a 49% stake in World Liberty Financial. The project is a DeFi and stablecoin venture, with Donald Trump and his three sons listed as advisors.According to the report, the deal was signed by Eric Trump four days before Trump's presidential inauguration in January 2025. The transaction was valued at $500 million, half of which was paid upfront. Approximately $187 million flowed to entities controlled by the Trump family, while at least $31 million went to entities linked to the family of World Liberty co-founder Steve Witkoff. Witkoff was later appointed as the U.S. Special Envoy for the Middle East, and his son, Zach Witkoff, currently serves as CEO of World Liberty.The Trump side has stated that Trump was unaware of the $500 million investment and was not directly involved in the daily operations of World Liberty Financial. Democrats argue that the matter involves potential conflicts of interest between the president's family business interests, foreign capital, and government diplomatic roles, and have therefore called on the Republican-led Senate to launch an investigation as soon as possible.
Renaiss, a real-world collectibles liquidity infrastructure, announced the successful completion of a $1.5 million seed funding round, led by YZi Labs, with participation from Gate Ventures, Hash Global, XIN Family, and Redline Labs. Angel investors include Mask Network, Far East Group, Logoman, Hoopi, and Legit App. Built on BNB Chain, Renaiss aims to connect third-party vaults, card shops, and custodial nodes via its Renaiss Vault OS, while Renaiss.XYZ serves as the application layer enabling users to access the on-chain collectibles market. Renaiss provides verifiable custody, standardized settlement, and on-chain liquidity for physical collectibles—eliminating friction in verification, custody, pricing, and cross-border transactions. This allows custodially verified collectibles to undergo ownership transfers on-chain and circulate globally in a trustless, permissionless manner. The funds will be used to expand the vault network, strengthen product development and integration with the Renaiss SDK ecosystem, broaden the range of supported collectible categories, drive global market expansion, and support infrastructure development for DeFi integration and AI Agents. Notably, Renaiss has been selected as a project in the third cohort of YZi Labs’ EASY Residency incubation program.
According to Decrypt, American Bitcoin, a mining company affiliated with the Trump family, has deployed 11,298 Bitcoin miners at its Drumheller facility in Alberta, Canada, adding 3.05 EH/s of hash rate and bringing its total in-house hash rate to 28.1 EH/s across 89,242 devices. Following the announcement, ABTC’s stock rose over 13% during Wednesday’s pre-market trading. American Bitcoin stated that this deployment completes its previously announced expansion plan and that the average energy efficiency of its current in-house miners is 16.0 J/TH.
According to Fortune, Paxos Labs—a stablecoin and blockchain infrastructure company—has announced a $12 million funding round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom Family Office, and Uniswap Labs. Paxos Labs was spun out from Paxos and focuses on providing enterprises with stablecoin issuance and decentralized finance (DeFi) access solutions, enabling clients to create branded stablecoins via a single software suite and offering features such as interest-bearing crypto deposits and collateralized lending. Paxos Labs has already secured clients including Hyperbeat and Aleo and expects to reach breakeven by the end of this year. Previously, Paxos acquired cryptocurrency wallet company Fordefi for over $100 million to meet growing client demand for DeFi market solutions.