XRP price dips 3% to $2.41 as a US District Judge Analisa Torres overrule Ripple $125 settlement fine against Ripple. With derivatives traders taking on a cautious stance, can XRP defend the $2 support in the days ahead? XRP Finds Support at $2.40 US Judge Upholds $125M Fine on Ripple Ripple (XRP) slipped by 3% on Friday, trading as low as $2.37 following a negative legal development that reignited concerns over regulatory uncertainty. The current bearish blow on XRP price comes after U.S. District Judge Analisa Torres rejected a proposed $50 million settlement between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), affirming a prior $125 million penalty and an injunction on future securities violations. XRP Price Action, May 16, Source: Coingecko Despite Ripple’s intention to appeal court’s decision to effectively raise the settlement fine from $50 million to $125 million, XRP traders showed negative reaction over the… Read More at Coingape.com
U.S. President Donald Trump held a black-tie dinner at his Virginia golf club for 25 holders of his meme token, $TRUMP. This was a highly publicized event where crypto moguls had to spend millions of dollars for a seat at the table.
Among those in attendance was Justin Sun, the billionaire founder of Tron, who had poured $18.5 million into Trump’s coin to secure his spot as the #1 holder. He was treated with a gold, Trump-branded watch and thanked the President for his “unwavering support” of crypto.
Sun faced U.S. Securities and Exchange Commission charges for alleged market manipulation on his blockchain platform, Tron (TRX). SEC Chair Gary Gensler stated in a report: “Sun and his companies not only targeted U.S. investors in their unregistered offers and sales, generating millions in illegal proceeds at the expense of investors, but they also coordinated wash trading on an unregistered trading platform to create the misleading appearance of active trading in TRX.”
Despite facing serious charges, Sun’s substantial financial backing of Trump’s crypto ventures appears to have shifted the focus of U.S. authorities toward negotiating a settlement. The situation raises concerns about the appearance of preferential treatment and suggests a troubling alignment between financial influence and political access, potentially amounting to a pay-to-play dynamic at the highest levels of government.
Blockchain technology was originally meant to democratize finance with open, transparent networks. In practice, however, this memecoin saga shows it can be used as a tool for backroom influence. Protesters outside the gala event held signs reading “America is not for sale” and “stop crypto corruption,” a telling indication of the public’s skepticism and a sign that more needs to be done to protect the industry from those willing to corrupt it for personal gain and profit.
The event caught the attention of builders across the crypto space who are focused on restoring trust, reputation, and reliability in blockchain. For projects working to make crypto less vulnerable to personalities, influence, and unchecked money flows, one of which is Graphite Network, the dinner was a clear signal of what’s broken.
“When seats at the table are sold for millions and legal accountability fades with a donation, it sends the worst possible signal about where crypto is heading,” said Marko Ratkovic, CTO of Graphite Network. “Moments like this force the rest of us building in this space to double down on trust, reputation, and systems that can’t be swayed by wealth or personality.”
In a World of Hype and Anonymity, There’s Still Room for Trust, Reputation, and Equal Access
Graphite Network offers a response to the growing concerns around manipulation and influence in the Web3 space. Rather than relying on hype, anonymity, or deep pockets, it’s building a foundation rooted in verifiable trust – where identity validation and on-chain reputation guide how users participate and interact.
Operating on a Proof-of-Authority consensus, Graphite Network weaves reputation directly into the protocol. Participants who build credibility through transparent behavior can unlock more access and functionality, creating an environment where trust is earned, not bought.
But trust-building doesn’t stop with users. Graphite Network is also one of the few blockchains that rewards all node operators, both transport and validator nodes, directly from the protocol itself. There are no exclusive club deals or private backdoors; anyone who contributes to the network’s operation can earn from it. In a time when blockchain headlines are dominated by big personalities and behind-the-scenes influence, Graphite’s model offers a more equitable, and more durable path forward.
Key Features of Graphite’s Trust Architecture
Below are the essential components of Graphite’s trust-based architecture, each of which play a crucial role in creating a more reliable and ethical blockchain environment:
Proof-of-Identity Activation
New accounts must pay a small fee to activate their account paid in @G, Graphite Network’s native coin, and complete verification. This is meant to comply with Graphite Networks’s one-person-one-account rule and also discourages spam and creating multiple disposable accounts, which are typically used for shady transactions, as each wallet is tied to a single user.
Tiered KYC with Privacy
Graphite Network offers a multi-tier, off-chain KYC process that begins with basic social media verification and will expand to include more advanced methods like document and video checks. Using Zero-Knowledge Proofs (ZKPs), users can prove they meet specific criteria, such as being over 18 or residing in a certain country, without revealing any personal data, since all verification happens off-chain. This privacy-by-design model allows users to voluntarily verify their identity while keeping sensitive information completely secure.
Trust Score Reputation System
Every Graphite account earns a Trust Score – a numeric rating of credibility, akin to a credit score for blockchain. The score is calculated from an array of factors: verification level, transaction history, account longevity, network activity, and the trust scores of one’s associates. The on-chain reputation is visible to all and gives a glance at how trustworthy any given participant is. A higher Trust Score isn’t just for bragging rights, it actually brings a better user experience.
Reputation-Based Contracts and Tagged Addresses
Graphite Network lets users filter interactions based on trust criteria. For example, users can choose to accept funds from accounts that meet a certain KYC level or Trust Score and can block unknown senders or anyone with poor scores.
Smart contracts can be coded to require a minimum reputation to participate. For example, users can create lending contracts that only allow loans to those with a proven track record. The platform even plans to introduce tagged addresses for earmarked funds: if money is designated for charity or specific purposes, it gets a visible tag on-chain, and any misuse of those funds can be instantly flagged for all to see.
New Layer 2 Tools Aim to Reinforce Accountability in a Decentralized Ecosystem
According to its 2025 roadmap, Graphite Network is developing a range of Layer 2 solutions built around transparency, fairness, and verifiable trust. The first to roll out will be the Phonebook Reputation MVP, designed to link phone numbers to trust scores via smart contracts, giving users a simple, decentralized way to verify reputation before interacting.
Other upcoming releases include a reputation-based dating app, a Hotspot Bundle for underserved regions to run nodes, a geo game simulating real-world economic behavior, and a voting system that ties influence to integrity, not token balance. All of it reflects the same principle: blockchain should empower trustworthy users – not amplify the reach of the wealthiest ones.
A Reminder Of What Trust Looks Like
As the crypto industry grapples with the fallout from influencer coins and credibility issues, Graphite Network’s approach serves as a reminder of what blockchain technology was originally designed to be: an engine for trust, not insider enrichment or political palm-greasing.
But only if designed that way. In the battle for crypto’s future, projects like this one are attempting to show that trust and transparency can win over hype.
The ultimate success of its reputation-based model will depend on its ability to maintain privacy while fostering a transparent and accountable system, which may take time to implement at scale but offers a real shot at rebuilding confidence in a space where it’s been badly shaken.
The post While Trump’s Meme Coin Dinner Raises Red Flags, Graphite Network Builds for Transparency Over Favoritism appeared first on Coinpedia Fintech News
U.S. President Donald Trump held a black-tie dinner at his Virginia golf club for 25 holders of his meme token, $TRUMP. This was a highly publicized event where crypto moguls had to spend millions of dollars for a seat at the table. Among those in attendance was Justin Sun, the billionaire founder of Tron, who …
In an exclusive interview with BeInCrypto, former US CFTC Commissioner Timothy Massad explains how President Trump’s crypto ventures and political power have significantly overlapped in his first two months at the White House.
Shortly before assuming office for the second time, US President Donald Trump dove head-first into a flurry of crypto experiments. From endorsing World Liberty Financial (WLFI) to launching his meme coin, Trump is raising serious concerns over conflicts of interest. Tim Massad, the 12th CFTC Chairman, who served under Barack Obama, shares his thoughts.
A Historic President For Many Reasons
Before assuming his first term in office in 2016, President Trump broke with modern precedent by departing from established conflict-of-interest norms. A real estate mogul with a trademark for a last name, Trump would be entering the Oval Office as the leader of a multi-billion dollar empire.
While former presidents like Jimmy Carter and George W. Bush took measures to separate themselves from their businesses by placing their assets in a blind trust, the sitting President took a different approach.
Instead, Trump handed day-to-day management decisions over to his sons but did not divest in his ownership stake.
Though he received much backlash during his first term over conflict of interest concerns, Trump refused to relinquish ownership of the Trump Organization before assuming office for the second time.
Given Trump’s favorable stance toward digital asset policy development, players inside and outside the industry have begun to wonder whether his decisions are based on the sector’s best interests or are designed to benefit his own ventures.
How Deep is Trump’s Involvement in World Liberty Financial?
Though Trump does not have a direct role in WLFI, he appears on the whitepaper’s list of supporting teams as “Chief Crypto Advocate.” His three sons, Eric, Donald Jr., and Barron, are also on the list.
Reports further unveiled that the Trump family holds a 75% stake in the platform’s net revenue and a 60% stake in the holding company. At the same time, Trump and his associates own 22.5 billion of the company’s tokens.
For former CFTC Commissioner Tim Massad, despite Trump’s informal role in WLF’s governance, his stake in the platform’s performance raises serious conflicts of interest.
“I think it’s unprecedented and plainly wrong for a President of the United States to engage in commercial ventures or have his family and associates engage in commercial ventures that can be directly influenced by the policies he adopts as President or the statements he makes about those policies,” Massad told BeInCrypto.
Meanwhile, the tokens themselves are non-transferrable, limiting financial flexibility. Though the project aims to provide token holders access to a range of DeFi-related products and services, it has yet to launch them. In the meantime, token holders will have to wait until the time comes to use their tokens.
“I have yet to see any real business case or utility that’s of value to people who invest. So I think it all just has a character of taking advantage of people,” Massad added.
The industry has also grown weary over how WLF and other Trump-endorsed projects could be used to gain the President’s favor.
Industry Leaders Voice Concerns Over World Liberty Financial’s Legitimacy
Shortly before Trump launched World Liberty Financial, many prominent figures in the crypto sector warned that the project could cause Trump further legal troubles. Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Meanwhile, Alex Miller, CEO of Web3 platform Hiro, described the project as an “obvious pump scheme.”
Just fucking shoot me
Anyone who thinks this is good for crypto, that it doesn’t make us look like clowns, that it doesn’t set us back YEARS in credibility….
This is such an obvious pump scheme. Maybe he won’t literally rug but he’s just grifting and it’s pathetic pic.twitter.com/8bTGmUfLvG
Other industry leaders, such as Mark Cuban, Max Keiser, and Anthony Scaramucci, also criticized Trump’s decision to proceed with WLF’s token sales. Trump’s involvement in the project heightened fears that crypto’s fragile public image and controversial reputation would be smeared further.
Massad agreed with this last point, adding that crypto policy development is alive and well today more than ever. The ongoing development of stablecoin regulations, open talks of a national crypto strategic reserve, and a Senate-driven digital asset working group are only some of the current institutional initiatives.
“He, the Trump Organization and his family members should not be engaging in commercial ventures that pose such blatant conflicts of interest, given the fact that crypto regulation and things like a potential Bitcoin reserve are important policy issues today. A US president shouldn’t be engaging in these things at all, in my view,” Massad said.
Since the project’s launch six months ago, several examples validating these concerns have emerged. The most notable one has focused on Tron founder Justin Sun.
The move was highly controversial. Despite Trump’s endorsement, WLFI struggled to meet its $30 million fundraising target during its first public sale. The token’s availability was restricted, excluding general trading and limiting purchases to non-US and accredited US investors.
Sun’s investment turned WLFI’s luck around. Soon after that, he also became one of the project’s advisors. Then, on the day of Trump’s inauguration, Sun invested an additional $45 million in the project, bringing the total sum to $75 million.
This investment brought varying degrees of scrutiny. While some questioned his quick transition from investor to advisor, others pointed to Sun’s past as a potential motive for his contributions.
In March 2023, the SEC filed fraud charges and other securities law violations against Sun and his companies. This regulatory baggage has led some industry leaders to question the wisdom of his association with World Liberty Financial.
Meanwhile, Tron’s price soared following Sun’s latest WLF investment. Tron, which had been experiencing lagging prices up until that point, was able to jumpstart its trading activities.
TRON Price Surge Following Sun’s $45 Million Investment in World Liberty Financial. Source: TradingView.
However, these conflicts of interest are not just limited to Sun’s investment.
Zhao could also benefit from an agreement. In 2023, he pleaded guilty to federal charges for failing to implement adequate anti-money-laundering measures at Binance.
Following his plea, Zhao resigned as Binance’s CEO. Motive-driven speculations point toward the possibility of a potential presidential pardon.
For Massad, maneuvers like these are natural when a president directly involves himself in crypto ventures.
“I think there is a huge risk of conflicts of interest and corruption by virtue of the President and people associated with him selling crypto assets—whether that’s through World Liberty Financial or the meme coins. It creates the potential for ongoing conflicts, because people who might want to curry favor with the administration could buy the coins,” Massad told BeInCrypto.
All the while, Trump benefits his crypto ventures every time he makes a pro-crypto announcement.
Is Trump Manipulating the Crypto Market?
A week into March, Trump signed an executive order to establish a Crypto Strategic Reserve and a US Digital Asset Stockpile. In his original announcement, Trump said the reserve would include Bitcoin, Ethereum, and altcoins like XRP, ADA, and SOL.
The crypto market responded immediately, with all five cryptocurrencies posting strong gains. Yet, Trump’s announcement quickly raised concerns over potential market manipulation.
With Bitcoin, Ethereum, and XRP in its treasury, WLF’s holdings grew in value as those assets appreciated. This growth could have boosted investor confidence, leading to higher demand for WLF tokens.
The crypto market’s overall surge and attention to Trump-related projects also generated greater investor interest in WLF, contributing to its price appreciation.
Meanwhile, Trump’s meme coin surged following the President’s reserve announcement. While TRUMP’s price stood at $13.55, with a trading volume of almost $1.2 billion on March 2, those numbers surged to $17.46 and $3.6 billion, respectively, following the news a day later.
On March 4, TRUMP’s price and trading volume plummeted below the numbers they registered only two days earlier.
“I think the meme coins have looked like a classic pump-and-dump scheme or money grab. I don’t think the issue should be, why not let people invest in these things if they want to? Of course they should have the right to invest in whatever they want. The issue is the propriety of the President of the United States selling things that capitalize on his being the President,” said Massad.
Even Ethereum Co-Founder Vitalik Buterin touched on the damaging effects of political meme coins in a social media post published five days after TRUMP’s launch.
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin said.
There is perhaps an analogy with weed here.
Ten years ago, to many weed represented freedom, and rebellion against sclerotic old order that denied self-sovereignty over our bodies. Then, weed became legalized, and “official”.
On that day, I remember my personal interest in weed…
Given Trump’s active participation in the crypto industry over the past several months, a vital question remains: Why hasn’t Trump been held accountable over these apparent conflicts of interest?
The answer remains short and bitter: He can’t be.
Can Trump Be Held Accountable?
The potential conflicts of interest arising from Donald Trump’s involvement in the cryptocurrency industry have drawn the attention of various political figures, particularly those focused on government ethics and oversight.
US Senator Elizabeth Warren has been the most vocal opponent of Trump’s dealings in the crypto industry.
“I write today to request information about how you, as President Trump’s ‘Crypto Czar,’ have addressed your conflicts of interest, and how you will prevent the President and other private individuals from directly profiting off of the Trump Administration’s efforts to selectively pump the value of certain crypto assets, drop crypto asset-related enforcement actions, and deregulate the crypto asset industry. These actions have the potential to benefit billionaire investors, Trump Administration insiders, and speculators at the expense of middle-class families,” Elizabeth Warren wrote.
However, not much else can be done beyond letters that demand responses and clarifications from the Trump administration.
The Legal Loophole
US Presidents are largely exempted from conflict of interest provisions. This exemption has been based on legal interpretations that argue these laws could impede the President’s ability to fulfill their constitutional duties.
“The problem is, the POTUS is not subject to the conflict-of-interest laws that apply to most other executive branch officeholders. There is the Foreign Emoluments Clause in the Constitution, which prohibits accepting gifts from foreign countries. There’s also a domestic clause that prohibits accepting gifts from the government. But beyond that, he’s not subject to the usual conflict-of-interest standards. So, it’s unfortunate that we don’t have those standards applicable to a president. I think, had any other president done these things, there would be far more outrage,” Massad told BeInCrypto.
Given the legal circumstances, public scrutiny and political pressure are the best ways to hold a president accountable for potential conflicts of interest.
Yet, despite the legal exemptions for sitting presidents, the ethical implications of Trump’s crypto dealings remain undeniable.
As the lines between political power and personal profit continue to blur, the necessity for clear ethical standards, even without legal mandates, becomes increasingly urgent.
Failing to do so might erode public trust in the crypto industry, generating potentially irreversible consequences.
Ric Edelman, a prominent financial advisor, claims that institutional clients should invest between 10% and 40% of their portfolios into crypto. His firm manages $300 billion, making this a very influential statement.
Some have questioned corporations’ BTC acquisitions, claiming that they represent a bubble. Edelman’s strong endorsement could outweigh these concerns and keep fresh capital moving into Web3.
Edelman’s recommendations shocked many casual observers. He essentially claimed that crypto has been too valuable for clients to ignore and that fund managers have a fiduciary responsibility to invest in it.
Since when is a 10% crypto allocation considered a “conservative” position, especially for hedge funds?
Still, many crypto-native readers may wonder what Ric Edelman’s relevance actually is. Eric Balchunas, another prominent ETF analyst, was apparently floored, comparing Edelman’s message to BlackRock’s famous turn toward crypto:
“Holy smokes. This is the arguably the most important full-throated endorsement of crypto from TradFi world since Larry Fink. This guy is Mr. RIA (Registered Investment Advisor). He manages $300 billion for 1.3 million clients and tops the Barron’s list of Top Financial Advisors regularly,” he claimed.
This is extremely high praise. BlackRock wasn’t pro-crypto for years, but its Bitcoin ETF became one of its best-performing products. So, it’s not new that major financial advocates have changed their stance towards digital assets.
Meanwhile, Edelman’s fund manages $300 billion. So, could he realistically direct 25% or more to funnel into Bitcoin investment? If he commits to this strategy wholeheartedly, how many competitors could follow it?
Skeptical voices are also growing in number, so a top-level sign of faith could keep the momentum steady.
However, this momentum might not apply to altcoins. Balchunas claimed that Edelman was trying to present a simplified message by discussing crypto investment rather than Bitcoin specifically.
BNB (@cz_binance) 
