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Trump-linked crypto slides as Senators press gala details

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‘Tariffs’ chatter surges after Trump’s announcement on global exports

Donald Trump is facing fresh scrutiny as crypto tokens tied to his name and family trade near record lows. 

Summary

  • TRUMP fell about 90% from its peak as renewed scrutiny hit Trump-linked crypto projects again this week.
  • WLFI dropped to a fresh all-time low as criticism of Trump family crypto ties intensified.
  • Senators pressed Bill Zanker for details after Trump announced an April 25 gala for token holders.

The pressure has grown after a new gala for token holders raised new questions from Democratic lawmakers.

The Official Trump token, known as TRUMP, fell to an all-time low of about $2.73 in March 2026. It later traded near $2.86, according to CoinGecko data.

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The token has dropped about 90% from its January 2025 peak above $73. The decline has kept attention on Trump-backed crypto ventures as traders track whether the project can regain momentum.

World Liberty Financial’s governance token, WLFI, also fell sharply. The token dropped to about $0.07 on Saturday, marking a new all-time low.

WLFI is down nearly 75% from its September 2025 high of about $0.31. The slide has added to pressure on projects linked to Trump and his family.

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Criticism grows around Trump crypto ventures

The price declines drew criticism from market observers and legal scholars. Professor Tonya Evans responded to the sell-off with a sharp rebuke of Trump’s role in crypto.

“We thought Sam Bankman-Fried or Gary Gensler were the worst things to happen to the crypto industry, and they were horrible,” Evans said. 

She added that “turns out, it was the guy who surrounds himself with sycophants, siphons every bit of value he can for himself, and then expeditiously bankrupts companies and casinos without consequence.”

Her comments came as debate over Trump’s crypto activity returned to the center of public discussion. Critics have focused on whether token-linked events create a financial path to political access.

April gala draws Senate attention

President Trump recently announced another gala for token holders, scheduled for April 25. The event has drawn criticism from Democratic senators who said the plan raises questions about access and fundraising.

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Senators Elizabeth Warren, Richard Blumenthal and Adam Schiff sent a letter to Bill Zanker, the memecoin’s creator, seeking details about the event, according to Politico. They said organizers were “dangling access” to Trump while requiring attendees to hold TRUMP tokens, a structure they said could benefit Trump and his family through increased token demand.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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CLARITY Act faces 2030 delay warning from Senator Lummis

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Lummis says CLARITY Act must pass this year as Senate eyes April markup

A new push for the CLARITY Act is building in Washington as crypto policy supporters warn the timeline may be narrowing. 

Summary

  • Cynthia Lummis warned Congress may miss its best chance to pass the CLARITY Act soon.
  • David Sacks and crypto leaders urged the Senate to move market structure legislation forward now.
  • Senate progress may depend on resolving stablecoin yield disagreements before a markup hearing begins.

Senator Cynthia Lummis said Congress must move soon or risk delaying market structure reform for years.

Lummis said the United States may miss a rare opening to pass the CLARITY Act if lawmakers fail to act soon. She said the bill may not get another real chance until at least 2030.

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In a post on X, Lummis wrote, “This is our last chance to pass the Clarity Act until at least 2030.” She added, We can’t afford to surrender America’s financial future.”

The warning comes as crypto policy supporters watch the political calendar. With US midterm elections set for November, some industry figures fear Congress could shift focus and slow work on crypto legislation.

That concern has kept attention on the bill’s timing. Supporters say the next few months may decide whether the measure advances during the current session.

Former White House AI and crypto czar David Sacks also called for quick action. He said the Senate Banking Committee and the full Senate should move the bill forward.

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Sacks said, The time to act is now. Senate Banking, and then the full Senate, should pass market structure.He added that he expects President Donald Trump to sign the bill if Congress approves it.

Other industry voices have also backed the legislation. A16z Crypto managing partner Chris Dixon said,

 “when rules are defined, both consumers and entrepreneurs win.”

Immutable founder Robbie Ferguson also backed the bill. On April 3, he said, “the CLARITY Act will make the last decade of growth in gaming look like a joke.”

Senate progress depends on key issues

Coinbase Chief Executive Brian Armstrong said on Friday that “it’s time” for the bill to pass after months of delays. His comment added to fresh calls for movement in the Senate.

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Coinbase Chief Legal Officer Paul Grewal said on April 2 that the CLARITY Act could be nearing a markup hearing in the Senate Banking Committee. He also said disagreements over stablecoin yield still need to be resolved.

Regulators have also shown support. SEC Chairman Paul Atkins said, 

“It’s time for Congress to future-proof against rogue regulators & advance comprehensive market structure legislation to President Trump’s desk.”

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Kenya Moves Closer to Regulating Crypto Firms With VASP Framework

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Kenya Moves Closer to Regulating Crypto Firms With VASP Framework

Kenya is moving closer to formalizing oversight of its digital asset sector after completing public consultations on proposed rules for crypto firms.

On April 11, the National Treasury announced that it had concluded stakeholder submissions on the draft Virtual Asset Service Providers (VASP) regulations. This step advances the framework needed to implement the country’s 2025 law governing crypto-related businesses.

Kenya Drafts Stricter Rules for Crypto Firms

The rules will establish licensing requirements and supervisory standards for companies dealing in cryptocurrencies, tokenized assets, and stablecoins.

The proposed regime outlines entry thresholds for operators, including ownership suitability tests, capital requirements, and governance standards. It also establishes obligations related to risk management and anti-money laundering compliance.

The Kenyan authorities are also seeking to impose stricter consumer safeguards. This would include mandatory disclosures, transparent pricing, and protections for crypto client funds.

The framework introduces market conduct provisions aimed at curbing manipulation and insider activity, while requiring due diligence for asset listings and ongoing monitoring of trading activity. Firms would also be subject to periodic reporting, audits, and cybersecurity standards under a system combining on-site and off-site supervision.

The central bank and capital markets authorities are expected to share oversight of the crypto sector.

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Kenya’s push to formalize oversight aligns with a broader global shift among regulators to define sectoral rules while preserving space for innovation.

The Treasury said the next phase will involve reviewing feedback and refining the draft before finalizing the regulations. The outcome is expected to shape how firms enter and operate in one of Africa’s more mature fintech markets.

“Kenya is building a trusted framework that balances innovation with financial stability,” the financial agency stated.

The consultation process comes as digital asset use expands rapidly across Africa. According to Ripple, the continent faces high transaction costs, delays in cross-border transfers, and limited access to stable foreign currencies.

As a result, people on the continent have shown increased reliance on crypto-based tools for settlement and savings.

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Due to this, Sub-Saharan Africa has emerged as one of the fastest-growing crypto markets, with transaction volumes rising sharply over the past year.

The post Kenya Moves Closer to Regulating Crypto Firms With VASP Framework appeared first on BeInCrypto.

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Trump token sees whale accumulation ahead of Mar-a-Lago gala; senators raise questions over event

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Trump token sees whale accumulation ahead of Mar-a-Lago gala; senators raise questions over event

Large investors are accumulating the TRUMP memecoin ahead of an upcoming gala hosted by President Donald Trump at Mar-a-Lago on April 28, even as the token trades near record lows and the impending event faces political scrutiny.

Data tracked by blockchain sleuth Lookonchain shows notable whale buying through centralized exchanges. One whale, “8DHkza,” withdrew 850,488 $TRUMP tokens (worth approximately $2.4 million) from Bybit over the past two days. Another address, “7EtuAt,” withdrew 105,754 tokens (around $298,000) from Binance 17 hours ago and currently holds 1.13 million tokens, valued at roughly $3.2 million.

Outflows from exchanges are said to represent investor intention to take direct custody of coins and hold the same for long-term. Hence, outflows are taken to indicate accumulation and potentially reduce immediate sell-side liquidity in the market.

The accumulation comes ahead of an invitation-only luncheon reportedly limited to the top 297 TRUMP token holders, with the top 29 receiving exclusive VIP access to Donald Trump.

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However, TRUMP continues to trade at record lows near $2.80, down 0.2% on a 24-hour basis and over 1% in seven days. The token came under pressure this week after CoinDesk reported the Trump-linked crypto venture World Liberty Financial’s controversial lending strategy on the Dolomite DeFi platform.

Meanwhile, U.S. lawmakers have stepped up scrutiny of the Mar-a-Lago event. Senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal have sent a letter to Fight Fight Fight LLC, a Delaware-based entity run by Trump associate Bill Zanker, requesting documents and information on whether Trump played a role in planning, promoting, or financially benefiting from the gathering. Fight Fight Fight LLC TRUMP memecoin in partnership with entities affiliated with Donald Trump.

“It is essential that Congress fully understand the extent to which President Trump and his family are profiting off of his cryptocurrency ventures,” the senators said, adding that “Congress must also take steps to prohibit and prevent these egregious conflicts of interest.”

The probe introduces an additional layer of uncertainty for the token, as regulatory and political risks intersect with already weak price action.

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US Down To ‘Last Chance’ To Pass Clarity Act Before 2030: Lummis

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US Down To 'Last Chance' To Pass Clarity Act Before 2030: Lummis

The United States government must pass the CLARITY Act, which aims to provide the crypto industry with clearer regulatory oversight, soon, or risk waiting almost another four years to move the industry forward, according to US Senator Cynthia Lummis.

“This is our last chance to pass the Clarity Act until at least 2030,” Lummis, a well-known crypto advocate, said in an X post on Friday.

“We can’t afford to surrender America’s financial future,” she added. The comments come as crypto industry participants begin to worry that the bill’s chances of passing this year are narrowing, with US midterm elections in November potentially changing congressional priorities and slowing momentum on the highly anticipated crypto legislation.

The former White House AI and crypto czar, David Sacks, also chimed in on Thursday with a similar view to Lummis.

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“The time to act is now. Senate Banking, and then the full Senate, should pass market structure. I’m confident that they will. And then President Trump will sign this landmark bill into law,” Sacks said. 

Consumers and entrepreneurs both “win” from the CLARITY Act

Many industry participants have argued that the passage of legislation aimed at clarifying which regulators oversee parts of the crypto industry could lead to greater innovation in the US and potentially increase demand for crypto assets among retail investors.

Source: Chad Steingraber

A16z Crypto managing partner Chris Dixon reiterated that view in a post, saying that “when rules are defined, both consumers and entrepreneurs win.”

A wide range of sectors in the crypto industry expect the move to be positive. 

Web3 gaming giant Immutable founder Robbie Ferguson said just days before, on April 3, that “the CLARITY Act will make the last decade of growth in gaming look like a joke.”

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On Friday, Coinbase CEO Brian Armstrong, who withdrew the crypto exchange’s support for the Digital Asset Market Clarity Act in January, said “it’s time” for the legislation to pass after months of delays.

Meanwhile, Coinbase chief legal officer Paul Grewal said on April 2 that the CLARITY Act could be nearing a markup hearing in the US Senate Banking Committee. However, he noted that progress hinges on resolving disagreements over stablecoin yield.

Related: CFTC unveils innovation task force members in crypto clarity push

Regulators are also voicing their support for the legislation.

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US Securities and Exchange Commission (SEC) Chairman Paul Atkins said in a post on the same day that, “It’s time for Congress to future-proof against rogue regulators & advance comprehensive market structure legislation to President Trump’s desk.”

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