A heated debate unfolded on Capitol Hill this week as Democratic lawmakers voiced strong opposition to a new crypto wallet linked to former President Donald Trump. The Trump crypto wallet controversy took center stage during a House Financial Services Committee hearing focused on digital asset regulation.

Rep. Maxine Waters (D-CA), ranking Democrat on the committee, sharply criticized Trump’s crypto ventures, stating, “Trump doesn’t just want Americans to use his crypto. He wants to put our money in his digital wallet while he guts our financial regulators, the watchdogs that protect families from financial fraud.” Her remarks underscore concerns about the growing influence of Trump-backed digital assets amid ongoing legislative efforts to regulate the crypto market.

New Trump-Linked Crypto Wallet Sparks Debate

The controversy intensified following the recent launch of a crypto wallet connected to Trump’s Solana-based meme coin, in partnership with the NFT marketplace Magic Eden. The wallet’s website went live on June 3, 2025, allowing users to join a waitlist, confirmed as legitimate by Magic Eden representatives.

Despite denials from Trump’s sons regarding involvement, the wallet’s announcement reignited scrutiny of the former president’s expanding crypto empire, which includes meme coins, NFTs, stablecoins, and decentralized finance (DeFi) projects.

Rep. Waters highlighted that conservative estimates suggest Trump and his family’s wealth has increased by approximately $2.9 billion through these crypto initiatives. The issue took a controversial turn after a private dinner exclusive to the top 220 holders of Trump’s meme coin drew allegations of pay-to-play corruption — an event Waters lambasted as “just 20 minutes of Trump time” served alongside “Walmart steak” and “Costco-freezer halibut.”

Legislative Efforts and Market Impact

The hearing coincided with discussions around the Digital Asset Market Clarity Act, a bipartisan bill introduced by House Financial Services Committee Chairman French Hill (R-AR) aimed at clarifying regulatory guidelines on digital assets. The Act seeks to define which cryptocurrencies should be regulated as securities versus commodities, addressing long-standing regulatory uncertainty.

Despite this legislative focus, the hearing was repeatedly overshadowed by the Trump crypto wallet controversy, mirroring disruptions seen during a similar hearing a month earlier. At that time, Democratic lawmakers staged a walkout protesting the influence of Trump-backed crypto ventures on policy-making.

Regulatory Concerns and Industry Voices

Timothy Massad, former chair of the Commodity Futures Trading Commission (CFTC) under President Barack Obama, echoed Waters’ concerns, warning that Trump’s extensive crypto interests complicate the regulatory landscape. Massad pointed out that Trump is “making billions of dollars selling meme coins and stablecoins, investing in crypto exchanges and wallets, and Bitcoin mining,” all areas potentially affected by pending legislation.

“If any member of this committee did any of those things, you would all be outraged,” Massad remarked, emphasizing the perceived conflict of interest and the difficulty lawmakers face in balancing crypto innovation with consumer protection.

Crypto Regulation in the Spotlight

The controversy emerges amid broader efforts in Congress to update financial regulations for the digital age. Recent legislative actions include the passage of the Financial Innovation and Technology for the 21st Century Act (FIT21), which, despite substantial Democratic support, failed to advance last year.

In parallel, lawmakers are exploring new rules for stablecoins, a segment of the crypto market that has drawn increasing attention due to its potential systemic risks.

The Trump crypto wallet controversy thus highlights the challenges of regulating a rapidly evolving and politically charged digital asset sector. As lawmakers navigate these complexities, the spotlight on Trump-backed crypto products raises fundamental questions about the intersection of politics, profit, and regulation in the blockchain era.

Conclusion

The Trump crypto wallet controversy underscores how political figures and their crypto ventures complicate the path toward clear and effective regulation. With a growing ecosystem of Trump-backed digital assets, congressional efforts to define and enforce rules face heightened scrutiny and partisan conflict.

As the crypto market continues to expand, this debate will likely remain a pivotal factor shaping the future of digital asset governance in the United States.

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XRP price (CRYPTO:XRP) recently traded at around $2.30, marking a 40% rebound from its lowest point this year but still 33% below its January peak. Several catalysts are fueling optimism that XRP could rally significantly in the coming weeks or months.

Strong Fundamentals Backing XRP Price

One key driver is the soaring likelihood—now at 98%—that the U.S. Securities and Exchange Commission (SEC) will approve XRP exchange-traded funds (ETFs) later this year. The SEC is expected to complete its review of Franklin Templeton’s XRP ETF filing soon, though delays remain possible as other filings undergo scrutiny.

Corporate adoption of XRP is also on the rise. Companies like VivoPower and Webus have recently raised $121 million and $300 million respectively, earmarking portions of their treasury in XRP tokens. Hyperscale Data announced plans to acquire over $10 million worth of XRP, signaling growing institutional confidence.

The SEC’s recent withdrawal of its appeal in the Ripple lawsuit could open the door for stronger partnerships with major U.S. banks. RippleNet, Ripple’s payments network, aims to rival SWIFT and expand global transaction capabilities.

In parallel, Ripple USD—the company’s stablecoin—has secured compliance under Europe’s MiCA regulation and obtained a license in Dubai, positioning it to compete in a stablecoin market projected to be worth $1.6 trillion by 2030.

CME Group has also listed XRP futures contracts, with data showing increased interest from Wall Street investors, further legitimizing XRP as a financial asset.

XRP Price Technical Outlook: The Wyckoff Method

A nearly 95-year-old Wyckoff Method technical theory suggests XRP is poised for a strong rally. The Wyckoff Method identifies four key market phases: accumulation, markup, distribution, and markdown.

Currently, XRP appears to be in the accumulation phase, characterized by low trading volume and subdued volatility. The Average True Range (ATR), a volatility indicator, is at its lowest since November last year, while the volume indicator has steadily declined.

Meanwhile, the accumulation/distribution line is trending upward, signaling more buying pressure than selling. These technical signals indicate XRP is likely to enter the markup phase, where demand outpaces supply, pushing prices higher.

Chart Patterns Confirm Bullish Momentum

Further reinforcing this bullish outlook is the formation of a bullish pennant pattern, a consolidation pattern that often precedes a breakout. As the two converging trend lines near each other, a breakout above the pennant could propel XRP price first toward this year’s high of $3.3585, and potentially further toward $5.

What This Means for Investors

For investors watching XRP, the combination of positive regulatory developments, increasing institutional adoption, and favorable technical signals creates an enticing setup. While market risks remain, including potential SEC delays or macroeconomic headwinds, the Wyckoff Method’s historical reliability adds weight to expectations of an impending rally.

In conclusion, XRP price surge potential is supported by both fundamental catalysts and time-tested technical theory, making it one of the more compelling cryptocurrencies to watch in 2025.

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SHENZHEN, China, June 3, 2025 /PRNewswire/ — MicroCloud Hologram Inc. (NASDAQ: HOLO), (“HOLO” or the “Company”), a technology service provider, announced that they have purchased up to $200 million in Bitcoin and cryptocurrency-related securities derivatives. As of Jun. 03, the  cumulative investment income has reached $19.08 million. HOLO currently holds $303 million in cash reserves. The company plans to allocate these $303 million reserves toward derivatives and technology development in cutting-edge fields such as Bitcoin-related blockchain, quantum computing, quantum holography, and AI-powered AR.This move marks HOLO’s further exploration and practice in the cryptocurrency sector while also demonstrating its determination and strategic vision for future business expansion.

The purchased Bitcoin and its derivatives this time will be incorporated into HOLO’s capital reserve strategy, aiming to enhance the company’s financial stability and long-term growth potential through diversified investments. HOLO stated that purchasing Bitcoin and cryptocurrency derivatives is a key initiative in its exploration of the cryptocurrency market, helping it gain insights into market mechanisms, price fluctuations, and investment strategies. Through this plan, HOLO seeks to accumulate valuable experience for future business expansion and capital operations in the cryptocurrency sector.

The company currently holds approximately $303 million in cash reserves. The allocated funds of up to $200 million will primarily be used to invest in Bitcoin or other cryptocurrencies with significant market influence and growth potential, as well as related securities derivatives. These assets will become a crucial part of HOLO’s financial reserves, helping to enhance the diversity and risk resilience of its overall asset portfolio. Meanwhile, HOLO also announced that its the  cumulative investment income have now reached $19.08 million. This figure highlights HOLO’s commitment to maintaining a strong financial position while also striving to create long-term value for its shareholders. HOLO emphasized that it will continue to uphold a prudent business strategy, enhance profitability and market competitiveness, and generate greater returns for its shareholders.

As a technology service provider, HOLO has also achieved significant breakthroughs in quantum system research and large-scale DeepSeek integration. These technological innovations not only provide strong support for HOLO’s investments in the cryptocurrency sector but also lay a solid foundation for its future business expansion.

With the continuous growth of the cryptocurrency market, more and more enterprises are entering this field. As one of the pioneers, HOLO’s investment decisions and strategic planning will undoubtedly serve as a model for other companies. Moving forward, HOLO will continue to explore and advance in the cryptocurrency sector, creating greater value for its shareholders while making a positive contribution to the overall development of the industry.

About MicroCloud Hologram Inc.

MicroCloud is committed to providing leading holographic technology services to its customers worldwide. MicroCloud’s holographic technology services include high-precision holographic light detection and ranging (“LiDAR”) solutions, based on holographic technology, exclusive holographic LiDAR point cloud algorithms architecture design, breakthrough technical holographic imaging solutions, holographic LiDAR sensor chip design and holographic vehicle intelligent vision technology to service customers that provide reliable holographic advanced driver assistance systems (“ADAS”). MicroCloud also provides holographic digital twin technology services for customers and has built a proprietary holographic digital twin technology resource library. MicroCloud’s holographic digital twin technology resource library captures shapes and objects in 3D holographic form by utilizing a combination of MicroCloud’s holographic digital twin software, digital content, spatial data-driven data science, holographic digital cloud algorithm, and holographic 3D capture technology. For more information, please visit http://ir.mcholo.com/

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic; financial condition and results of operations; the expected growth of the holographic industry and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s most recently filed Annual Report on Form 10-K and current report on Form 6-K and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE MicroCloud Hologram Inc.

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NOTTINGHAM, England, June 3, 2025 /PRNewswire/ — Helium Wars, the much-anticipated AAA third-person Web3 shooter, has officially launched its Testnet on the SEI Network – and the gaming community has responded with overwhelming energy.

Day-one highlights:

• 700+ closed access invites filled in under 2 hours
• 500+ PvP matches fought across dynamic battle arenas
• 1,500+ players active in the in-game lobby
• Average session time: 65+ minutes

This explosive debut signals rising demand for competitive, skill-first blockchain games. Helium Wars blends responsive shooter mechanics with real digital ownership through NFTs and its native $HELM token economy.

“Helium Wars is more than a game – it’s a statement about where Web3 gaming is headed,” said Josh, Founder at Helium Wars. “From day one, our focus has been delivering AAA gameplay with real asset ownership, and the response to our Testnet proves the community is ready.”

Helium Wars: A Tactical Shooter With Real Stakes

Set on the fractured planet Zaeon, Helium Wars immerses players in a resource war over Helium -a powerful energy source with immense value. Players join one of two rival factions: the technologically dominant Aetherians or the elemental Valerians, each with distinct lore and combat strategies.

Built on Unreal Engine 5, the game features high-fidelity environments and smooth controls across core modes like Deathmatch, Team Deathmatch, and the signature ‘Helium Wars’ resource-control mode. All in-game assets – gear, weapons, cosmetics – are minted as NFTs, empowering players with true tradability and utility beyond the battlefield.

Through $HELM tokens, players will:

• Stake, earn, and participate in in-game governance
• Influence future game direction through DAO-based voting
• Trade, upgrade, or transfer NFTs that hold real value across the ecosystem

The long-term vision is to evolve into a fully decentralized, cross-game universe – blending immersive gameplay with a sustainable, player-powered metaverse. Helium Wars is shaping up to be more than a game. It’s becoming a decentralized battleground where strategy, skill, and ownership collide.

Enter the battlefield. Dominate. Own it.

X: @0xHeliumWars
Discord: Join the War Room

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SOURCE Helium Wars

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The U.S. Securities and Exchange Commission (SEC) has raised fresh doubts about the viability of crypto staking ETFs, casting uncertainty over the launch of the first funds tied to Ethereum (ETH) and Solana (SOL) staking. These concerns focus on whether such products legally qualify as exchange-traded funds (ETFs) under current U.S. securities law.

SEC Scrutinizes Ethereum and Solana Staking Funds

In a letter dated Friday, the SEC directly addressed ETF Opportunities Trust, expressing reservations over two proposed products: the REX-Osprey Ethereum ETF and the REX-Osprey Solana ETF. These funds, developed by REX Financial and Osprey Funds, aim to offer staking exposure—allowing investors to earn rewards from holding and locking their crypto assets to secure blockchain networks.

However, the SEC questioned whether the structure of these crypto staking ETFs meets the standards required under the Investment Company Act of 1940. Without fitting into this legal framework, such funds may be ineligible for listing on public exchanges.

The regulator also criticized the ETFs’ registration statements, suggesting they may be “potentially misleading” in describing their classification and structure. These unresolved issues have stalled progress toward market approval and may require significant revisions before any launch.

Legal Classification Remains Murky

At the core of the SEC’s concerns is the legal gray area surrounding crypto assets and staking mechanisms. The agency recently released guidance suggesting that staking participants do not necessarily need to register their activities. Yet, by raising objections to these ETFs, the SEC appears to be contradicting its own stance.

Greg Collett, general counsel at REX Financial, expressed optimism in comments to Bloomberg, saying, “We think we can satisfy the SEC on the investment company question, and we don’t intend to launch the funds until we do that.” Meanwhile, both REX Financial and Osprey Funds have declined to comment further.

If approved, the REX-Osprey products would become the first crypto staking ETFs tied to ETH and SOL, as well as the first spot Solana ETF. These milestones could represent a turning point for mainstream crypto exposure through regulated investment vehicles.

Commissioner Crenshaw Slams Regulatory Inconsistency

The debate over the legitimacy of crypto staking ETFs took another turn when SEC Commissioner Caroline Crenshaw publicly criticized the agency’s inconsistency. In a statement issued Saturday, Crenshaw challenged the notion that ETH and SOL can be considered securities in some cases but not in others.

She wrote: “We’ve seen staff statement after staff statement, pronouncing that all sorts of crypto assets are not securities. And yet, now we see no objection to the effectiveness of new exchange-traded funds that assert certain crypto assets—ETH and SOL—actually are securities.”

Crenshaw’s comments reflect broader tensions within the SEC over how to approach digital assets—a sector that continues to evolve faster than regulators can respond. Her pointed remarks question whether the Commission has developed a coherent legal framework for crypto ETFs and staking.

What This Means for Investors and the Market

For investors, the delay is a reminder of the regulatory risks involved in the crypto sector. While the potential of earning yield through crypto staking ETFs is appealing, the uncertain legal landscape could deter fund issuers and traditional financial institutions from diving in.

Moreover, the SEC’s stance may influence how other pending ETF applications—such as those tied to Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), or Solana (CRYPTO:SOL)—are evaluated in the months to come.

Despite these challenges, the appetite for crypto-linked ETFs continues to grow. Major players like BlackRock (NYSE:BLK), Fidelity, and Invesco are actively exploring new crypto products, including spot Bitcoin ETFs and futures-based offerings.

Whether or not staking products ultimately gain approval, it’s clear that the path forward will require legal clarity, consistent regulatory positions, and ongoing engagement between industry leaders and policymakers. Until then, crypto staking ETFs remain a promising—but still uncertain—frontier in digital asset investing.

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