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Crypto

U.S. Republican senator urges probe into crypto business of Trump and Biden sons

A Republican U.S. senator has called for a Senate-level investigation into Donald Trump Jr. and Hunter Biden, citing concerns that presidential family ties may have been used for private financial gain, preferential treatment or access. Utah Senator John Curtis urged Senate Judiciary leaders to consider subpoenas and review possible application of ethics, disclosure and anti-corruption laws. He cited Trump Jr.\'s crypto promotion and advisory role, and raised questions about Hunter Biden\'s overseas business ties.

Crypto

Trump family-backed World Liberty linked to Hong Kong AI platform offering sanctioned Chinese models, supports USD1 payments

World Liberty Financial, a crypto firm backed by U.S. President Donald Trump, has been linked to a Hong Kong AI platform that offers models from Chinese developers the U.S. government flags as security risks, stirring controversy. The platform supports payments in USD1, a dollar-pegged stablecoin issued by World Liberty. Critics say wider USD1 use could boost the firm and benefit the Trump family, while others cite security and data risks.

Crypto

UBS expands bitcoin spot ETF investment, buys 2.5 million shares of BlackRock\'s IBIT

UBS has expanded its bitcoin exposure by buying additional shares in BlackRock\'s spot bitcoin exchange-traded fund, according to a U.S. regulatory filing. The Swiss bank increased its holdings of BlackRock\'s iShares Bitcoin Trust, or IBIT, to about 2.5 million shares worth around $83 million. UBS also allocates funds to other bitcoin-related ETFs and premium income products, bringing its total crypto ETF holdings to about $90 million.