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A WSJ report claimed Trump’s family, through World Liberty Financial, is negotiating a stake in the U.S. arm of Binance. At the same time, Binance CEO Changpeng Zhao (CZ) is reportedly pushing for a pardon from Trump. CZ quickly shot down the reporting on X, calling the story “factually wrong” and suggesting it’s part of a lingering “war on crypto” narrative.
4. Sorry to disappoint. The WSJ article got the facts wrong.
More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"
They probably asked hundreds of people to have 20 people reach out to me. In… x.com/i/web/status/1…
— CZ 🔶 BNB (@cz_binance)
2:38 PM • Mar 13, 2025
And now, perhaps the most least exciting, yet buzz-worthy news of the week: the Senate banking committee advanced its stablecoin “GENIUS Act” bill 18–6. Next up: full Senate approval. It’s a bipartisan effort that clarifies which stablecoin issuers get state vs. federal oversight – a win for those wanting to know whose rules they’re playing by.
Coinbase Ventures just announced a new “Base Ecosystem Group” on the Echo platform, aiming to funnel capital and support to early-stage projects built on Base. The catch? It’s currently for accredited investors only. But the big idea is pretty simple: allow individual crypto traders to band together and invest collectively in web3 projects.
Video-sharing platform Rumble $RUM ( ▼ 2.96% ) just spent $17.1 million on 188 BTC, sticking to its plan to move up to $20 million into bitcoin. In the press release, CEO Chris Pavlovski said that the holdings will “serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies.” No big surprises here – this buy’s been telegraphed for months. But we’ll take our wins when we get them: Cheers to another Nasdaq-listed company stacking sats.
People like Bitcoin.
Increasingly, corporations do to.
— Hunter Horsley (@HHorsley)
12:03 AM • Mar 12, 2025
Russia, already under Western sanctions for its war in Ukraine, is reportedly selling some of its oil in bitcoin, ether, and stablecoins – bypassing the dollar entirely. According to Reuters, middlemen convert Chinese yuan or Indian rupees into crypto, then send it on to Russian accounts, which finally cash out in rubles. It’s still a fraction of Russia’s $192 billion oil trade, but the share is growing.
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