President Donald Trump’s memecoin has generated a reported $636 million payout for him while nearly 1 million buyers have collectively lost $3.81 billion, according to newly analyzed blockchain data and financial disclosures.

According to a report by The New York Times, citing blockchain analytics firm Nansen, 988,905 wallets that bought the Official Trump (TRUMP) memecoin had recorded cumulative losses of $3.81 billion through the end of June. Nansen said the figure includes both realized losses and paper losses held by investors who have not yet sold their tokens.

The analysis followed the release of Trump’s 2025 financial disclosure, which showed he received a $636 million payout tied to the TRUMP memecoin. The filing also disclosed at least $1.4 billion in crypto-related income during the reporting period, largely connected to licensing agreements linked to the memecoin and token sales by Trump-backed World Liberty Financial (WLFI).

Unlike retail buyers, Trump benefited from trading activity regardless of whether the token price rose or fell because the venture generated revenue from transactions, The New York Times reported. During the token’s launch, Trump repeatedly promoted the memecoin on Truth Social, encouraging supporters to purchase it.

Three days before his January inauguration, Trump introduced the TRUMP memecoin, describing it on social media as a way for supporters to join his community. Since then, the token has fallen sharply from its peak. Nansen said the memecoin traded at about $1.76 on Friday, roughly 97% below its all-time high of $75.35.

Retail investors absorbed most of the losses

According to Nansen, roughly two out of every three wallets that purchased the TRUMP token have lost money. The firm also found that fewer than 500,000 wallets generated about $4 billion in combined profits, with gains concentrated among a relatively small group of early participants who entered before the price surged.

The report said automated traders and experienced crypto investors typically capitalize on the rapid price swings common in memecoins by buying early and selling into retail demand. Nansen concluded that most profits were captured by this smaller group, while later buyers accounted for the majority of losses.

One investor interviewed by The New York Times, Nicholas Pinto, said he invested roughly $500,000 in the TRUMP token after supporting Trump in the 2024 election and estimated he had lost about half of that investment. Pinto argued that Trump’s public position encouraged confidence among buyers and described the project as “almost a legal scam.”

Responding to criticism, White House spokeswoman Anna Kelly told The New York Times that Trump had made the United States the “crypto capital of the world” and said his actions were taken in the interests of the American people.

Crypto earnings continue to draw political scrutiny

In a recent CNBC interview, Trump said he was unaware that his crypto ventures had generated at least $1.4 billion, adding that he could know the exact amount if he wanted to and insisting there was nothing improper about earning money from digital assets. He also said he had no plans to distance himself or his family from their crypto businesses.

World Liberty Financial has also faced losses among investors. According to Nansen, 85% of the 26,663 WLFI wallets it tracked were underwater, recording combined losses of about $83 million compared with roughly $23 million in profits. The firm noted that the actual losses are likely much larger because many secondary-market transactions on exchanges cannot be traced publicly.

The financial disclosure has also intensified political debate in Washington. Sen. Kirsten Gillibrand recently renewed her call for ethics rules that would prohibit government officials and their spouses from creating or promoting crypto memecoins while Congress considers the CLARITY Act.

According to Gillibrand, Senate negotiations are also examining stablecoin yields, anti-money laundering safeguards, and ethics provisions before lawmakers move the legislation forward.

Revolut, a crypto-friendly digital banking platform headquartered in the United Kingdom, notified some users it will delist Tether USDt (USDT) stablecoin in August, citing regulatory and risk concerns.

In a Friday customer notice seen by Cointelegraph, Revolut said users will no longer be able to buy USDT starting July 6, with full delisting scheduled for Aug. 31, 2026.

If users do not sell or withdraw their USDT by the end of August, Revolut will automatically convert any remaining USDT holdings into users’ base currency at the day’s exchange rate, the company said.

USDT deposits will no longer be supported after July 30, 2026, after which any incoming USDT transfers will be rejected, it said.

The move highlights how major fintech companies are adjusting stablecoin access in response to shifting regulatory frameworks. It also raises questions about timing, as exchanges such as Coinbase began delisting USDT in Europe in 2024 to align with EU’s Markets in Crypto-Assets (MiCA) requirements.

Revolut does not cite exact framework for delisting

Revolut has not clarified whether the USDT delisting will apply globally or only in specific jurisdictions.

Addressing the reasons for delisting USDT, Revolut cited “regulatory and risk considerations” without expanding what regulations specifically have triggered the move.

Source: Cointelegraph

The company was granted a MiCA license as a crypto asset service provider (CASP) in November 2025, according to the official register by European Securities and Markets Authority (ESMA). The license was issued by the Cyprus Securities and Exchange Commission (CySEC).

Related: EU crypto rulebook faces enforcement challenge as MiCA transition ends

Cointelegraph approached Revolut for comment on the affected jurisdictions and the scope of its crypto offering but did not receive a response by the time of publication.

Tether refused to comply with MiCA

Tether’s USDT has been gradually delisted by CASPs in Europe since late 2024 as the stablecoin’s issuer refused to comply with the EU’s MiCA regulation.

The company’s CEO, Paolo Ardoino, has repeatedly criticized perceived flaws in MiCA, including reserve requirements that apply to certain stablecoin issuers and require part of their reserves to be held with EU credit institutions.

Source: Cointelegraph

“I think it’s a very not well thought legislation,” Ardoino told Cointelegraph in an interview last year.

At the time of publication, USDT is the third-largest crypto asset by market capitalization after Bitcoin and Ether, with a market value of $184 billion. Its largest competitor, Circle’s USDC, has a $73 billion market cap and ranks as the fifth-largest crypto asset, according to CoinGecko.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

India has opened an investigation after reports alleged that Indian nationals were trafficked into Myanmar and forced to carry out crypto fraud operations inside cyber scam compounds.

According to police in the western Indian state of Maharashtra, authorities have registered a criminal case after the wife of a 24-year-old man reported that her husband had been taken to a cyber scam compound near the Thailand-Myanmar border instead of the job he had accepted in Bangkok. Because the case involves an overseas trafficking network, India’s Ministry of External Affairs has been informed, while central agencies are assisting the investigation.

Police said the victim responded to a social media advertisement offering a graphic design and data entry job in Thailand with a monthly salary of Rs 70,000 (about $815) before travelling there in early June.

Investigators alleged that after arriving in Thailand, he was moved to a compound near the Myanmar border, where his passport and travel documents were confiscated.

Reports link victims to forced crypto scams

According to police, the victim managed to contact his family before losing communication and alleged that captives were forced to work 16-18 hours a day in cyber fraud operations, while those refusing orders faced electric shocks and other abuse.

Police also said he claimed that hundreds of Indians were being held in similar compounds, although those allegations have not been independently verified.

Meanwhile, regional outlets reported another case involving a Maharashtra resident who allegedly remains trapped in a similar compound after travelling to Thailand for what was advertised as a call centre job offering pay similar to the earlier job advertisement.

According to the reports, victims said they were later taken into Myanmar and forced to run online investment and cryptocurrency scams, including creating fake social media profiles to lure people into fraudulent investment schemes.

One family also alleged that captors demanded Rs 8 lakh (about $9,300) to secure their relative’s release, while state authorities said efforts to bring those trapped home are underway.

The reports have added to concerns over organised criminal networks operating from Myanmar, Cambodia, Laos and neighbouring countries. According to the reports, these groups allegedly recruit people through fake overseas job advertisements for positions in IT, customer support, digital marketing and data entry before confiscating their passports and forcing them into online fraud operations after they arrive in Southeast Asia.

International action targets scam networks

The latest allegations come as governments increase action against cyber scam networks in the region. As previously reported by crypto.news, the U.S. Treasury’s Office of Foreign Assets Control sanctioned a Myanmar militia, its leader and senior members in May over allegations that they facilitated cyber scam syndicates, cryptocurrency-related fraud, human trafficking and cross-border smuggling.

According to the Treasury Department, U.S. victims lost more than $2 billion to cryptocurrency-related fraud in 2022 and more than $3.5 billion in 2023.

Meanwhile, Myanmar’s military published a draft Anti-Online Scam Bill in May proposing prison terms ranging from 10 years to life for people convicted of operating online scam centres or committing digital currency fraud.

The draft legislation also allows capital punishment for operators who use violence, torture, unlawful detention or cruel treatment to force people into carrying out online scams.

The FBI has separately reported that cryptocurrency-related fraud caused $11.4 billion in losses in its latest Internet Crime Report, with more than half of all internet crime losses linked to crypto schemes. The agency said many of the networks behind those frauds operate from compounds across Southeast Asia.

India has conducted rescue operations in similar cases before. Earlier this year, more than 120 Indian nationals were repatriated from cyber scam centres in Myanmar, following additional rescue efforts carried out during the previous year.

Strategy, the corporate vehicle behind Michael Saylor’s long-running “Bitcoin treasury” approach, has moved further into real-world capital management. The company authorized up to $1.25 billion in Bitcoin sales under a newly defined capital framework—an acknowledgment that even highly committed holders must plan for liquidity, shareholder payouts, and balance-sheet flexibility.

Meanwhile, the crypto industry’s business priorities are widening beyond price narratives: a new coalition is pushing a US dollar stablecoin designed to capture reserve yield, Fidelity is defending Bitcoin’s security model post-halving, and political spending is ramping up ahead of the 2026 US midterms.

Key takeaways

• Strategy authorized up to $1.25 billion in Bitcoin sales to support dividends, cash reserves, and repurchases while maintaining its long-term Bitcoin exposure.
• Strategy raised its STRC preferred dividend rate to 12% and says it has built a dedicated cash reserve of $2.55 billion to cover about 17 months of payments.
• A group of over 140 firms—including Visa, Mastercard, Coinbase, Ripple, OKX, and Bybit—plans an “Open USD” stablecoin that is structured to return reserve earnings to users.
• Fidelity argues Bitcoin’s security is not solely dependent on block subsidies, citing higher daily miner revenue over time.
• Public Citizen reports crypto-linked political spending totaled about $189 million in the 2026 election cycle, with PACs again central to the industry’s influence.

Strategy formalizes Bitcoin monetization and funding priorities

Strategy has adopted a new capital plan that explicitly authorizes Bitcoin sales of up to $1.25 billion. According to Cointelegraph’s reporting, the “Digital Credit Capital Framework” is intended to fund shareholder dividends, reinforce cash reserves, and support stock repurchases while still aiming to preserve the company’s long-term Bitcoin strategy.

Under the framework, the annual dividend on Strategy’s STRC preferred stock rises from 11.5% to 12%. The plan also introduces a structured Bitcoin monetization program and expands capital-return mechanisms that include buybacks of preferred securities and MSTR shares.

Strategy also disclosed that its dedicated cash reserve has grown to $2.55 billion. The company says this level is sufficient to cover roughly 17 months of preferred dividends and interest payments, effectively reducing the need to sell Bitcoin on short notice.

Crucially for investors watching Strategy’s “never sell” messaging, the framework marks a shift from pure accumulation rhetoric to a defined approach for generating liquidity. Strategy previously disclosed its first-ever Bitcoin sale, including the offload of 32 BTC in June, and Cointelegraph notes that the company did not purchase Bitcoin in the prior week referenced in the article.

Strategy’s holdings were reported as unchanged at 847,363 BTC, indicating the recent change is about authorization and planning rather than immediate acceleration of liquidation.

Stablecoin competition heats up with reserve-yield design

The next phase of stablecoin competition appears to be less about simply pegging to the dollar and more about who captures the yield generated by reserves. More than 140 financial and crypto companies have joined to launch a new US dollar-backed stablecoin that is designed to let participants retain the yield from reserves.

Cointelegraph reports the project—Open USD (OUSD)—is backed by major payments players including Visa and Mastercard, as well as crypto firms such as Coinbase, Ripple, OKX, and Bybit. The coalition’s structure differentiates OUSD from traditional stablecoin models: supporters say businesses will be able to mint tokens without fees or volume limits while keeping the reserve earnings.

That model is positioned as a competitive alternative to incumbent issuers, specifically Tether’s USDt (USDT) and Circle’s USDC. If it performs as intended, the ability to keep reserve yield could reduce the effective cost of using stablecoins for businesses and encourage greater adoption—especially in payment and settlement workflows where stablecoin balances function like working capital.

Timing also matters. According to Cointelegraph, Open Standard plans to roll out OUSD later this year. The push arrives as US policy has moved in a more favorable direction following passage of the GENIUS Act, which Cointelegraph links as a key development in stablecoin regulation.

With the article citing a market already worth more than $300 billion and analysts expecting further growth through the rest of the decade, OUSD’s success will likely depend on execution—particularly around reserve management transparency, minting/burning mechanics, and the practical user experience for businesses seeking reserve yield.

Fidelity challenges the “halving weakens security” narrative

Bitcoin’s halving cycle tends to reignite a long-running debate: if block subsidies decline, do miners eventually lose enough economic incentive to keep the network secure? Fidelity Digital Assets is pushing back against that conclusion.

In a research report highlighted by Cointelegraph, Fidelity argues that Bitcoin’s long-term security is not dependent solely on block subsidies. The firm’s framing suggests that other incentives—such as transaction fees, broader market dynamics, and price appreciation—can sustain miner participation even as issuance declines.

Cointelegraph’s summary points to Fidelity research analyst Daniel Gray, who noted a sharp change in the scale of miner revenue over time. Fidelity claims that average daily miner revenue grew from $1.3 million during 2012–2016 to $40.2 million today, despite declining block rewards. The underlying message is that miner economics have evolved beyond the subsidy component.

The report lands as miners face additional pressure following the latest halving. As Cointelegraph notes, many publicly traded mining companies have sought diversification—pivoting into areas such as AI and high-performance computing—while Fidelity maintains that these shifts don’t undermine Bitcoin’s long-term security assumptions.

For readers, the practical question is what happens if transaction fee demand fails to offset subsidy declines. Fidelity’s argument addresses incentive structure, but the real test will come from observing miner revenue composition over time: how much comes from fees versus price-driven valuation, and whether that remains sufficient to sustain hashrate participation through future cycles.

Crypto political spending climbs ahead of 2026 midterms

The business side of crypto is also increasingly visible in US politics. According to a new report by consumer advocacy group Public Citizen, crypto companies have contributed roughly $189 million to the 2026 election cycle so far—estimated at 37% of all corporate political spending during the period covered.

Cointelegraph reports that political action committees are again the main vehicle for the industry’s influence. Fairshake has spent more than $82 million this cycle, while the pro-Trump MAGA Inc. Super PAC—heavily backed by Crypto.com—has spent more than $56 million.

Public Citizen also said the strategy mirrors 2024 tactics by backing candidates from both major parties who align with the industry’s policy agenda. It further notes that crypto spending has already surpassed the roughly $170 million deployed during the 2024 election cycle, even with more than four months remaining before November’s elections.

For market participants, political spending is not just a headline metric. It can shape how regulators define stablecoins, exchange operations, custody standards, and market surveillance expectations—areas that directly affect compliance costs and product design.

What to watch next

Over the coming weeks, investors and builders should track three closely related developments: whether Strategy’s authorized Bitcoin sales translate into actual, more frequent monetization—or remain primarily a liquidity backstop; how OUSD’s reserve-yield mechanics perform against USDT and USDC in real usage; and whether Fidelity’s security thesis holds up in miner economics as fees and market incentives evolve through subsequent halving periods.

TLDR;

• US Stock market rally became Trump’s main economic message as he linked gains in the S&P 500, Nasdaq and Dow to tax cuts and investment.
• Bitcoin’s move near $62,000 showed how weaker jobs data and lower rate fears can quickly support risk assets after heavy volatility.
• The Trump economy narrative now connects traditional markets with crypto market sentiment, especially as traders watch Fed policy signals.
• Policy risk still matters as the CLARITY Act, tariff talks and AI-linked earnings could shape market direction through the second half of 2026.

Donald Trump framed the US Stock market rally as evidence that his economic agenda is gaining traction. He said stronger markets, tax cuts, exports and private investment showed the economy had entered a new growth phase. The comments landed as risk assets also improved. 

Bitcoin traded near $62,444, while Ethereum was around $1,624.95 and XRP traded close to $1.059 at last check. The move followed a volatile second quarter, with traders now linking equities, crypto market sentiment and Federal Reserve expectations more closely. It also put Trump’s economic message back at the center of market debate.

US Stock Market Rally Gives Trump A Golden Age Message

Trump said the US Stock market rally had delivered the strongest quarter for major indexes since his previous presidency. He pointed to gains in the S&P 500, Nasdaq Composite and Dow Jones Industrial Average. He also said stronger 401(k) balances were helping households feel the impact of the market rebound. 

Market data gives that claim a strong backdrop. According to market data, the S&P 500 gained 14.9% in the second quarter, while the Nasdaq climbed 21.4%. The Dow rose about 13%, marking its biggest quarterly jump since 2022. MarketWatch data shows Dow ended the first half with its strongest performance since 2021. 

Trump tied the Trump economy message to tax cuts for working families, rising exports and a smaller trade gap. He also said trillions of dollars in announced investment were supporting factories, jobs and domestic production. His “Golden Age” framing came as the U.S. prepared to mark its 250th Independence Day.

The US Stock market rally also reflected optimism around earnings and economic growth. Technology and semiconductor shares helped drive the second-quarter advance. Still, the rally has carried valuation concerns, especially as artificial intelligence spending shapes investor expectations across Wall Street.

US Stock Market Rally Links Rates, Crypto and Policy Risk

The US Stock market rally received another lift after softer jobs data reduced near-term rate fears. According to reports, the U.S. economy added 57,000 jobs in June, below the 110,000 estimate. Rate-hike expectations for September then fell to 55% from 64.1%, according to CME FedWatch.

That shift also supported the crypto market. Lower borrowing costs usually help risk assets, as traders seek higher-return areas when liquidity expectations improve. Bitcoin’s rebound near $62,000 showed how quickly macro signals can spill into digital assets after a sharp selloff.

A reported 76% correlation between Bitcoin and gold has also kept the hedge debate active. Some investors view both assets as protection against policy uncertainty and inflation risk. Yet Bitcoin still trades with higher volatility than gold, making the comparison useful but limited.

Policy is another driver. Congress is still debating digital asset rules through the CLARITY Act, while institutional crypto adoption expands. The Trump administration has also signaled a friendlier regulatory stance toward the sector. For traders, the next tests include Fed decisions, tariff talks and earnings from AI-linked companies.

Germany’s cooperative banking network has begun offering cryptocurrency trading through DZ Bank, opening digital asset access to millions of retail customers across the country.

According to a Bloomberg report, the rollout gives customers of participating cooperative banks the ability to buy and sell cryptocurrencies directly through their existing banking relationships rather than using dedicated crypto exchanges.

The service is already being introduced through a platform developed by DZ Bank and currently supports cryptocurrencies including Bitcoin, Ethereum, Litecoin, and Cardano.

The expansion comes as Germany’s banking sector gradually changes its stance on digital assets after years of avoiding retail crypto services because of concerns over market volatility and investor protection. Instead of remaining on the sidelines, cooperative banks are now integrating crypto trading into their existing banking platforms, with each member institution deciding independently whether to make the service available.

Why are German banks expanding crypto services?

Representatives from DZ Bank told Bloomberg that interest from member institutions has been strong, with hundreds of cooperative banks expected to introduce cryptocurrency trading over time. While participation remains optional, the report said the level of demand suggests the service could become available across a large part of Germany’s cooperative banking network.

Elsewhere in the sector, DekaBank is preparing a comparable crypto trading platform for Germany’s savings banks. According to Bloomberg, the launch is scheduled for later this year and will be introduced in stages as individual savings banks choose whether to participate.

Supporters of the banking-led approach argue that customers may feel more comfortable buying digital assets through financial institutions they already use for everyday banking. Bloomberg cited survey data showing German consumers trust their primary bank more than twice as much as dedicated cryptocurrency trading platforms.

Banks also see digital assets as a way to appeal to younger customers who increasingly expect investment products to be available through digital banking applications. Offering crypto trading alongside traditional financial services could help lenders compete as cryptocurrencies become more common in mainstream finance, according to the report.

What challenges still face Germany’s crypto market?

Despite the growing availability of crypto trading through banks, critics continue to warn about the risks associated with digital assets. Bloomberg reported that academics and banking industry groups have maintained that cryptocurrencies remain highly speculative investments capable of generating substantial losses.

Germany’s savings banks association has also emphasized that crypto trading is intended only for self-directed customers who understand the risks involved and can make their own investment decisions without advisory services.

The banking expansion comes as Germany considers changes to its tax treatment of digital assets. As crypto.news reported earlier, Finance Minister Lars Klingbeil said during the presentation of Germany’s 2027 federal budget on April 29 that the government plans to “tax cryptocurrencies differently” as part of measures expected to raise an additional €2 billion, or about $2.3 billion, while strengthening efforts against financial and tax crime.

Under Germany’s current tax rules, profits from private cryptocurrency sales are generally taxed when assets are sold within one year of purchase. Crypto.news previously reported that digital assets held for more than 12 months are usually exempt from capital gains tax, a policy that has long made Germany one of Europe’s more attractive jurisdictions for long-term cryptocurrency investors.