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hedy2637

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The venture will apply for a license under Hong Kong’s proposed stablecoin bill, which is still under review.
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The bill entered the Legislative Council on Dec. 6, 2024, and had its first of three readings on Dec. 18. If enacted, it will require stablecoin issuers to obtain an HKMA license and comply with reserve and price stability requirements.
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The bill entered the Legislative Council on Dec. 6, 2024, and had its first of three readings on Dec. 18. If enacted, it will require stablecoin issuers to obtain an HKMA license and comply with reserve and price stability requirements.
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The venture will apply for a license under Hong Kong’s proposed stablecoin bill, which is still under review.
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Hughes added that while the incoming Trump administration is encouraging innovation and experimentation, he does not believe the incoming administration is going to do away with all crypto regulations.
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“The same law enforcement and national security concerns that existed in the last administration are going to be present in the Trump administration,” the Consensys attorney said.
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Attorney David Lesperance told Cointelegraph that the President-elect's memecoin launch violates stipulations in the United States Constitution designed to prevent foreign influence over US government officials. Lesperance explained:
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“Given that TRUMP can be easily purchased by foreign individuals or governments, this would appear to be a violation of this clause,” the attorney said.
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However, it remains to be seen whether or not the incoming Attorney General of the United States, Pam Bondi, takes enforcement action against Trump or the memecoin, Lesperance added.
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The Solana-based memecoin launched amid The Crypto Ball — a black tie event held in Washington DC — the weekend before Trump’s inauguration on Jan. 20.
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Traders were initially skeptical of the token, as many unofficial copycats currently exist — including one from Martin Shkreli, with the ticker symbol DJT.
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However, the memecoin was later confirmed as authentic by the Trump family — driving the price of the token higher.
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Since launching on Jan. 17, the Trump token surged by over 12,500% and hit a high of approximately $35 on Jan. 18 before falling down by roughly 35%.
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At the time of this writing, TRUMP is trading at around $27, down by 19% from the all-time high, and has captured narrative attention on social media and in the crypto community.
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At the time of this writing, TRUMP is trading at around $27, down by 19% from the all-time high, and has captured narrative attention on social media and in the crypto community.
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Since launching on Jan. 17, the Trump token surged by over 12,500% and hit a high of approximately $35 on Jan. 18 before falling down by roughly 35%.
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However, the memecoin was later confirmed as authentic by the Trump family — driving the price of the token higher.
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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.
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Bankman-Fried was later convicted of seven felony counts and sentenced to 25 years in prison, but he has filed an appeal.
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The shift reflects increasing onchain activity and the rise of alternative layer-1 networks such as Solana and Hyperliquid. Analysts expect the trend to continue, with USDC’s market capitalization potentially doubling this year.
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