Cryptocurrency Bitcoin Hits a Fresh High During Trump Dinner and Stablecoin Proposal Discussion
US President Donald Trump's involvement in the blockchain space continues to make headlines, with the announcement of a crypto dinner, a strategic crypto reserve, and his own meme coin.
The forthcoming crypto dinner, scheduled at an undisclosed location and date, will bring together leading industry leaders and investors. Notable attendees include Justin Sun, the founder of Tron. The dinner's guest list was determined by TRUMP investors, who spent the most on the token for a certain period.
Trump's support for the crypto industry has been unwavering, even following his re-election. This support is evident in his plans for a strategic crypto reserve and his push for the GENIUS Act, a piece of legislation that would govern the stablecoin space. The GENIUS Act, proposed by Senate Banking Committee Chairman Tim Scott (R-SC), along with Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH), aims to benefit the US treasury and is making its way through the US Senate.
The crypto world has been abuzz with excitement, with Bitcoin reaching a new all-time high of over $111,000 on May 22, 2025. This development was influenced by several factors, including easing tensions between China and the US, the growing influence of mainstream corporations in the crypto world, and anticipation for the Trump crypto dinner.
However, not all news surrounding Trump's foray into cryptocurrency has been positive. The President's launch of his own meme coin has sparked major debate around the ethics of a public office holder releasing such a coin. A proposed bill aims to ban public office holders from releasing meme coins, adding to the controversy.
Cryptocurrencies like Bitcoin have found their way into various industries, including the gambling industry. Virtually every casino game is now playable using cryptocurrency as a baseline currency. This development was highlighted in a recent article by iGaming writer Carlos De Lanuza for ValueWalk's new bitcoin casino list.
The stablecoin markets are estimated to contain trillions of dollars, further cementing the importance of regulations like the GENIUS Act. As the crypto world continues to evolve, one thing is clear: Trump's influence in the space is significant and shows no signs of slowing down.
