Trump hosts memecoin dinner — ethics be damned; Polygon boss resigns; WLFI and Binance | Weekly Recap

by

Crypto Chaos: Dinner with Trump and Other Shocking Developments! 🍽️💸

Well, well, well! If it isn’t another week in the wild world of crypto, where ethics are as rare as a unicorn at a dog park. Today’s recap is packed with juicy tidbits, including a shakeup at Polygon, World Liberty Financial’s rather dramatic response to some spicy collaboration allegations, and, oh yes, the Trump administration hosting an exclusive dinner with the crème de la crème of memecoin holders. Because why not? 🎉

Strategy announces $2.1 billion preferred stock offering

  • In a move that screams “we’re totally not panicking,” the company formerly known as MicroStrategy filed with the SEC to raise a whopping $2.1 billion through additional preferred stock issuance. Because who needs a stable business model when you can just keep issuing stocks, right?
  • The Perpetual Strife Preferred Stock (STRF) offers institutional investors a 10% annual cash dividend. And if they miss payments? Well, the payouts just get bigger! Talk about a win-win for investors and a lose-lose for common sense! 💰
  • Oh, and they also decided to splurge on an additional 7,390 BTC for about $764.9 million. Because why not throw more money into the crypto abyss?

SafeMoon CEO convicted on fraud charges

  • In a plot twist that no one saw coming (except maybe everyone), SafeMoon CEO Braden John Karony was found guilty on three counts of fraud. Apparently, defrauding investors of millions is a great way to spend your weekends! 🎭
  • Karony now faces up to 45 years in prison. That’s a long time to think about your life choices, buddy!

SEC sues Unicoin

  • In a classic case of “you can’t just say whatever you want,” the SEC has filed a lawsuit against Unicoin and its executives for violating securities laws during their $100 million token raise. Who knew fundraising could be so… complicated?
  • The SEC alleges that the team made “false and misleading statements.” Shocking, I know! 🙄

India’s Supreme Court questions crypto policy delays

  • Meanwhile, in India, the Supreme Court is scratching its head over why the central government can’t seem to whip up a “clear cut” cryptocurrency regulation policy. Maybe they’re too busy binge-watching the latest season of “How to Avoid Making Decisions”? 📺
  • Justices Surya Kant and N Kotiswar Singh are concerned about a “parallel under-market” for cryptocurrency. Because nothing says “we’re in control” like a thriving underground economy!

GENIUS Act gains momentum

  • In a plot twist that could rival any soap opera, the GENIUS Act has regained political traction! It passed a key procedural vote and is now on track for potential passage within days. Who knew legislation could be so dramatic? 🎭
  • This is a major turnaround after the GENIUS Act failed the same procedural cloture vote less than two weeks ago. Talk about a comeback story!

Read More

2025-05-25 15:53