Wu Shuo Daily Selected Crypto News - Little Donald Trump: Family Turns to Cryptocurrency Due to Traditional Financial Restrictions

1. Donald Trump Jr.: Family Turns to Cryptocurrency Due to Traditional Financial Restrictions

Donald Trump Jr., the eldest son of Trump, stated at the Las Vegas Bitcoin 2025 conference that his family's interest in cryptocurrency stemmed from restrictions imposed by the traditional financial system. He revealed that after Trump's first presidential term (2017-2021), the family business faced service cancellations from banks, insurance companies, and other institutions for political reasons starting in 2021, encountering account closures and insurance refusals. This situation prompted him and his brother Eric to encourage their father, Trump, to understand the potential of blockchain, changing his 2021 view of Bitcoin as a scam.

2. VanEck: Establishing a Bitcoin Strategic Reserve Should Be Promoted Through Congressional Legislation

Matthew Sigel, Head of Digital Assets at VanEck, stated at Bitcoin 2025 that a more feasible path to establishing a U.S. strategic Bitcoin reserve should be through congressional budget legislation rather than executive orders. He suggested introducing incentives for Bitcoin mining in the budget reconciliation process, such as tax credits for miners using methane gas or encouraging miners to transfer a portion of mined Bitcoin to the federal government, allowing the reserve to grow naturally.

3. ZachXBT: James Wynn Previously Scammed His Followers by Pumping and Dumping Token Prices

On-chain investigator ZachXBT addressed claims that "James Wynn said a conspiracy group is issuing tokens in his name and dumping them at their peak, supporting only MOONPIG and PEPE meme coins," stating, "Over the past few years, you have indeed conducted the same type of meme coin scams on your followers." Dylan reported in July 2024 that James Wynn received 2% of Babypepe tokens and sold them in batches after pumping the price.

4. WLFI's USD1 Integrates with Kernel DAO, Becoming a Re-stakable Asset

The Trump family crypto project World Liberty Financial (WLFI) announced the integration of its USD1 with Kernel DAO, becoming a re-stakable asset. This collaboration marks the first time its stablecoin provides security guarantees for third-party applications.

5. Vietnamese Police Bust Large Virtual Currency Scam Involving Approximately 390 Million USD

Vietnamese police dismantled a major cyber scam involving the establishment of the virtual currency trading platform "MTC - Matrix Chain" to lure investors. The case involved nearly 10 trillion VND (approximately 390 million USD), deceiving over 138 thousand accounts. Five main perpetrators have been arrested. The group raised funds through false advertising, promises of high returns, and multi-level marketing, manipulated token prices for illegal profits, and partially used the defrauded funds to purchase real estate. The investigation is ongoing.