Senator Adam Schiff Introduces Bill to Ban Presidential Crypto Profiteering

Schiff Introduces Bill to Ban Presidential Crypto Profiteering—After Voting for One That Allows It

Senator Adam Schiff introduced the COIN Act on Monday to ban presidents and their families from profiting off crypto while in office, targeting Donald Trump’s expanding digital asset ventures. The bill would prohibit the issuance, endorsement, or promotion of cryptocurrencies and NFTs, with violators facing fines and prison time. However, Schiff’s move drew sharp criticism, as just days earlier he voted to pass the GENIUS Act, which sets up a stablecoin framework but exempts the president and vice president from conflict-of-interest rules. Critics accuse Schiff of political posturing, especially as Trump’s crypto empire—including the USD1 stablecoin—gains traction. While Democrats have proposed other bills to curb presidential crypto profits, none are expected to pass with Republicans controlling Congress. Schiff has not explained his contradictory votes, and his actions have sparked backlash online and further scrutiny from the public.

MicroStrategy Buys More Bitcoin Amid Price Dip, Holding Nears 600K BTC as Saylor Reaffirms Bullish Outlook

MicroStrategy, led by executive chairman Michael Saylor, disclosed the purchase of 245 Bitcoin for $26 million during last week’s geopolitical-driven price drop, according to a new SEC filing. Acquired at an average of $105,856 per coin, the purchase brings the firm’s total holdings to 592,345 BTC, worth around $41.9 billion at an average entry of $70,681 per coin. Despite being one of the company’s smallest recent buys, it reflects Saylor’s long-standing commitment to accumulate BTC even at all-time highs, following his “buy the top forever” philosophy. The firm’s year-to-date BTC yield now stands at 19.2%, inching closer to its revised 2025 target of 25%. The announcement follows Saylor’s latest projection that Bitcoin could reach $1 million, with the firm potentially buying $1 billion per day at that price level.

Trump Thanks Iran for Early Warning on Missile Strike, Signals Push to End Israel-Iran War

Former President Donald Trump thanked Iran on Monday for providing early warning before its retaliatory missile strike on the U.S.-operated Al-Udeid Air Base in Qatar, which followed a major U.S. attack on Iranian nuclear sites. Trump described Iran’s response as “very weak” and indicated no plans for further U.S. retaliation, emphasizing his goal to end the Israel-Iran war. The White House confirmed Trump wants a diplomatic resolution and will press Israeli Prime Minister Netanyahu toward de-escalation. Iran’s measured response—firing the same number of missiles as U.S. bombs dropped and coordinating with Qatar to avoid casualties—suggests it may also seek to de-escalate. Meanwhile, Israeli military leaders claim their objectives in Iran are nearly complete, though it’s unclear whether Iran will halt further attacks.

Resources:

Axios

sec.gov