Trump Memecoin MAGA Surges Over 30% After Assassination Attempt at Rally

Trump Memecoin MAGA Surges Over 30% After Assassination Attempt at Rally

The price of Donald Trump’s top memecoin, MAGA (TRUMP), skyrocketed over 30% following an assassination attempt on the former president during a rally in Butler, Pennsylvania.

MAGA Coin’s Rapid Surge

The Ethereum-based memecoin MAGA (TRUMP) surged rapidly from $6.31 to $10.36 immediately after the assassination attempt. This dramatic increase in price saw its total market capitalization jump from $293 million to $469 million in less than 45 minutes.

Impact on Other Trump-Themed Memecoins

News of the assassination attempt also boosted the prices of other Trump-themed memecoins. The Solana-based memecoin Tremp (TREMP) soared more than 63% within an hour of the news. Meanwhile, the MAGA Cap (MAGA) token briefly surged by 21% in the same timeframe.

Incident Details

On July 13, during a rally in Butler, Pennsylvania, multiple shots were fired from an unknown direction within the crowd as Trump was speaking on stage. Trump grabbed his ear as the shots rang out and dropped to the ground. His security team quickly rushed to protect him and escorted him off the stage.

Banking Regulations on Crypto Assets by 2025

In a statement released by the Basel Committee on Banking Supervision, it was announced that starting in 2025, banks will be required to publicly disclose their exposure to crypto assets. This measure aims to enhance transparency and support market discipline in the financial sector.

This decision directly impacts national banking systems of countries supporting the global banking regulatory body, including Mexico, represented by its National Banking and Securities Commission (CNBV).

In the past, the CNBV has reaffirmed its commitment to actively participating in meetings with the Basel Committee and working towards the consolidation of the pillars forming Basel III rules. This is to ensure the solidity of banks’ capitalization, liquidity, and credit portfolio quality, thereby preserving the banking system operating in the country.

This move responds to the growing use of cryptocurrencies, evidenced by a significant increase in new users on platforms like Binance, which registered over 30 million additional users in just one year.

Potential FDIC Policy Shift: Boosting the U.S. Crypto Industry

Financial institutions in the United States might experience improved interactions with digital asset companies, thanks to recent proposals under the leadership of the Federal Deposit Insurance Corporation (FDIC).

Christy Goldsmith Romero, the FDIC presidential candidate, suggested that banks should have the freedom to provide services to cryptocurrency companies. In a hearing, Romero responded to Senator Cynthia Lummis, stating that “it is not the role of the FDIC to tell banks which industries or companies they should serve.”

Romero’s statement was highlighted by Faryar Shirzad, Chief Policy Officer at Coinbase, who emphasized the significance of this stance in light of Operation Chokepoint 2.0’s impact on the crypto sector. However, Shirzad warned that this change might not materialize without intervention from the White House to reverse current pressures on the digital assets sector.

This potential policy shift could mark a significant milestone. Previously, the FDIC, along with the Federal Reserve and the Office of the Comptroller of the Currency, expressed concerns about the risks that crypto assets pose to the safety and soundness of the banking sector.

Alexey Pertsev, Tornado Cash Developer, Remains in Prison During Appeal Process

Alexey Pertsev, the developer of Tornado Cash, sentenced to five years and four months in prison by a panel of three judges in the Netherlands on charges of money laundering, will remain in jail while his appeal is processed after his bail request was denied.

After Pertsev’s conviction, his legal team quickly filed an appeal with the Court of Appeal of s-Hertogenbosch, hoping to prepare for the trial from home with internet access after requesting bail.

However, according to DL News, the bail request was denied, to the surprise of his defense lawyer. Pertsev’s prison also denied him access to a computer to help his lawyers prepare for the trial, according to the report.