Trump Hosts Crypto Dinner as Justin Sun Tops Guest List

President Trump welcomes the top 220 holders of his $TRUMP meme coin to a private black-tie dinner Thursday night at his Virginia golf club. Leading the guest list was crypto billionaire Justin Sun, whose $18.5 million wallet earned him first place and personal access to Trump at a VIP reception.

Attendees collectively spent $148 million on $TRUMP to qualify, with perks for top investors including Trump Tourbillon watches and a now-removed promise of a White House tour. "That kind of access is rare, and it represents how crypto is entering the mainstream," said Kronos Research CIO Vincent Liu.

Democratic lawmakers denounced the event as an unethical auction of presidential influence, citing Sun’s attendance and the opacity of foreign wallet holders. “What’s happening tonight… is in effect, putting a ‘for sale’ sign on the White House,” said Sen. Richard Blumenthal.

Lawmakers introduced the “Stop TRUMP in Crypto Act” to block presidents from issuing or profiting from tokens, and floated lawsuits under the Constitution’s emoluments clause. “With foreign-linked wallets, untraceable transactions, and no press allowed, the event raises alarming questions about foreign influence,” read a joint statement from Senate Democrats.

Coinbase Hacker Trolls ZachXBT After $42 Million Swap

The hacker behind a Coinbase data breach sent an Ethereum message mocking blockchain investigator ZachXBT, after moving $42.5 million through THORChain. The message, broadcast via transaction input data, included the phrase “L bozo” and a clip of NBA legend James Worthy smoking a cigar. ZachXBT said the same entity is tied to the phishing campaign that targeted over 69,000 Coinbase users.

Blockchain data shows the attacker swapped Bitcoin for Ethereum before moving 8,698 ETH to new addresses and taunting ZachXBT publicly. We remind you that Coinbase declined to pay a $20 million ransom, instead offering that amount as a bounty for arrest leads. The company expects to spend between $180 million and $400 million on remediation and possible reimbursements tied to the breach.

Sui's Biggest Liquidity Provider Hacked for $223 Million

Cetus Protocol, the largest DEX on the Sui network, lost $223 million in a smart contract exploit involving spoof tokens and price curve manipulation. The attacker added fake liquidity to extract real assets like SUI and USDC without depositing value, then began obscuring funds across multiple chains. The wallet, which still holds $54 million in SUI, remains active, per onchain data.

Cetus paused contracts and confirmed the attack on X, while Binance offered assistance to Sui developers. CETUS dropped 40%, and Sui-based tokens like BULLA and MOJO crashed over 90% amid the panic. Analysts warn the exploit exposes weaknesses in Sui's DeFi stack and could dampen investor confidence if losses aren't recovered soon.

Kraken Launching Tokenized Stocks Outside USA

Kraken will offer tokenized trading for more than 50 stocks and ETFs, including Apple and Nvidia, through a new service called xStocks available to non-USA users. The rollout will happen over the coming weeks and integrate with DeFi apps on Solana, according to crypto infrastructure firm Backed. Kraken says the product targets investors in Europe, Asia, Africa, and Latin America.

Co-CEO Arjun Sethi predicted tokenized equities could soon outgrow the stablecoin market, now valued at $240 billion. He also criticized the friction foreign investors face in accessing U.S. securities through legacy channels. The launch is part of Kraken’s broader multi-asset strategy, which includes a $1.5 billion acquisition of NinjaTrader earlier this year.

Data of the Day

Strategy, formerly MicroStrategy, announced a $2.1 billion at-the-market sale of its STRF preferred stock to expand its Bitcoin holdings and working capital. The company said it will sell shares gradually, based on market conditions and investor demand, through both block and negotiated trades. Funds raised will be used to acquire more Bitcoin as part of Strategy’s aggressive treasury plan.

The firm disclosed a $765 million purchase of 7,390 BTC last week, bringing its total holdings to 576,230 BTC, worth over $64 billion. That represents more than 2.7% of BTC's total supply and $23.8 billion in unrealized gains. Strategy aims to raise $84 billion through 2027 for BTC purchases, doubling its original 2021 capital plan.

More Breaking News

• FIFA will migrate its NFT collection to a custom Avalanche chain, abandoning Polygon and Algorand in favor of better EVM compatibility.
• Binance scored a partial win in UK court as BSV investors lost their $11.9B claim over token delisting and speculative missed gains.
• SafeMoon CEO Braden Karony was convicted of defrauding investors and could face up to 45 years in prison for manipulating funds.
• A crypto whale stunned markets by placing a $1.1B Bitcoin long bet on Hyperliquid using 40x leverage, netting $36M in unrealized gains.
• Ledger launched a Solana-themed version of its Flex hardware wallet, with custom colors and exclusive perks for SBT holders.
• Dubai’s crypto regulator has clarified that real-world assets can now be tokenized and listed on secondary markets under new rules.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.