Democrats blast Trump’s crypto ventures as ‘corruption’

By: thestreet|2025/05/07 02:30:02
0
Share
copy
House Democrats registered a protest against President Donald Trump's "corruption” at a hearing on digital assets on May 6.The members were supposed to hold discussions in order to build bipartisan support for legislations on stablecoin and crypto market structure at the 'American Innovation and the Future of Digital Assets' hearing.However, the Democrats chose to voice their criticism of the president' crypto ventures during the hearing. Rep. Maxine Waters (D-CA-43) said that Trump's first 100 days were filled with failures, chaos, and incompetence. Trump is using his crypto ventures to create an avenue to enrich himself and his inner circle. “I am deeply concerned that Republicans aren’t just ignoring Trump’s corruption, they are legitimizing Trump and his family’s efforts to enrich themselves on the backs of average Americans,” Waters said. Former Commodity Futures Trading Commission (CFTC) chair Timothy Massad asked that Trump and vice president J. D. Vance should be prohibited from being involved in any crypto-related business.In fact, the CFTC should work along with the Securities and Exchange Commission (SEC) to create a joint self regulatory organization to regulate crypto assets, Massad said.Rep. Stephen Lynch (D-MA-08) claimed that we are going to see a major crypto disaster in which people are going to lose a lot of money. “President Trump’s crypto dealings are estimated to be a total of $2.9 billion and nearly 40% of his total wealth,” Lynch added.Chastity Murphy, senior advisor for financial institutions at the Treasury Department, said Trump's crypto empire is a vehicle for "influence peddling, bribery, and regulatory capture."The Democrats are attempting to have the language in the bill direct the president from refraining from crypto businesses while in office.Trump's crypto ventures such as the TRUMP and MELANIA meme coins, the upcoming VIP dinner, the World Liberty Financial project, and the USD1 stablecoin have drawn repeated criticism from the Democrats.

You may also like

The parent company of the New York Stock Exchange strategically invests in OKX: The intentions behind the $25 billion valuation

Continuous cases show that cryptocurrency exchanges are becoming a battleground for traditional finance and tech giants, while also serving as an important stronghold for entering the strategic landscape of Web3.

WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

What are the key highlights of this year's Ethereum's most important upgrade, the Glamsterdam upgrade?

The Ethereum Race Against Time, Perhaps Truly a Quest for Revival

March 6 Key Market Update You Can't Miss! | Alpha Morning Report

.Top News: Recent Developments in US-Iran Conflict, Military Action to Escalate Further, Trump Rejects Soleimani's Son Taking Over Token Unlock: $W, $RED

Sell Nvidia, Buy Power Plant: 27-Year-Old AI Investor Earns $5 Billion in One Year

The essence of investment is to find price dislocation in the future that has already arrived but is not yet evenly distributed.

The $24 Million Heist Behind It: The Most Dangerous Vulnerability in the Crypto World is Actually Human

When a Private Key Meets Real Brutality, Your On-chain Balance is Already a Bounty Map

Popular coins

Latest Crypto News

Read more