Trump Family Crypto Windfall Hits $4B, Bernie Sanders Calls Kleptocracy

Bernie Sanders accused the Trump family of a $4 billion Trump family crypto windfall tied to presidency-era deals. He labeled it "pay-to-play kleptocracy" during a Senate floor speech on October 9, 2024, as reported by Yahoo Finance reporter Jennifer Srigley Yahoo Finance.

Crypto ventures led the gains, driven by blockchain token launches and DeFi protocols.

Bitcoin trades at $77,498 USD, down 0.2% as of October 10, 2024, 14:00 UTC, per CoinGecko data CoinGecko Bitcoin. Ethereum stands at $2,314.80 USD, down 0.2%.

The Crypto Fear & Greed Index reads 33, indicating fear, according to Alternative.me on October 10, 2024 Alternative.me. XRP drops 0.9% to $1.42 USD.

Sanders Outlines $4B Trump Family Crypto Windfall Details

Yahoo Finance details the $4 billion post-presidency total, with crypto topping via blockchain tokens and DeFi trades. Sanders tied profits to Trump administration influence.

The Trump campaign issued no comment as of October 10, 2024.

Blockchain enables token creation through smart contracts on networks like Ethereum.

James Butterfill, Head of Research at CoinShares, noted in their October 7 weekly report that institutional inflows slowed 15% last week amid political noise CoinShares Fund Flows Report.

Crypto Prices React to Trump Family Crypto Windfall Scandal

Political scandals amplify volatility. Traders monitor U.S. regulatory responses.

• Asset: BTC · Price (USD): 77,498.00 · 24h Change: -0.2% · Source: CoinGecko
• Asset: ETH · Price (USD): 2,314.80 · 24h Change: -0.2% · Source: CoinGecko
• Asset: USDT · Price (USD): 1.00 · 24h Change: 0.0% · Source: CoinGecko
• Asset: XRP · Price (USD): 1.42 · 24h Change: -0.9% · Source: CoinGecko
• Asset: BNB · Price (USD): 629.86 · 24h Change: -1.2% · Source: CoinGecko

Data from CoinGecko, October 10, 2024, 14:00 UTC CoinGecko. BNB sees the steepest decline.

Blockchain Powers Rapid Gains in Trump Family Crypto Windfall

DeFi platforms democratize high-volume trading. Decentralized exchanges (DEXs) like Uniswap facilitate instant swaps with low fees CoinGecko DEX Volume.

Ethereum smart contracts automate trades. On-chain tools from Dune Analytics reveal spikes in wallet activity linked to token launches.

Ethereum Layer-2 solutions, such as Optimism, slash gas fees by 90%, per Ethereum Foundation metrics. Solana achieves 65,000 transactions per second, per Solana Beach explorer, accelerating NFT and token trades Solana Beach.

DeFi Drives Returns in Alleged Trump Family Crypto Windfall

Solidity-coded smart contracts on Ethereum execute complex strategies. Protocols like Aave offer lending yields up to 5% APY without selling assets.

Chainlink oracles deliver real-time prices to DeFi apps, ensuring accurate liquidations Chainlink Docs.

Europe's MiCA regulation began phasing in June 2024, targeting stablecoins by July 2025, as outlined by ESMA ESMA MiCA.

Trump Family Crypto Windfall Fuels Regulation Push

Sanders demands oversight. Senate Banking Committee schedules hearings on political crypto ties, per committee chair Sherrod Brown.

Proposed U.S. bills mandate on-chain donation tracking. SEC requires disclosures for token sales exceeding $1 million, per recent filings.

BlackRock's iShares Bitcoin Trust (IBIT) holds $20.5 billion AUM as of Q3 2024, per SEC 13F filing BlackRock IR.

Coinbase bolsters KYC for high-net-worth users amid probes, CEO Brian Armstrong stated in earnings call.

Market Outlook Amid Trump Family Crypto Windfall Claims

Institutions hesitate due to risks. DeFi shifts to zk-SNARKs for privacy, like in Zcash protocols.

Bitcoin support at $77,000 USD holds firm. XRP at $1.42 follows Ripple's SEC court victories.

BNB slips with Binance volumes down 5%, per exchange data. Fed rate decision looms October 30, 2024.

Trump family crypto windfall claims test crypto's mainstream path as rules tighten. On-chain verification remains key to trust.