Some of the shrewders in the audience quickly saw what was happening. Trump, who has made a career out of branding everything from casinos to steakhouses to unaccredited colleges, is also doing crypto. Will Trump’s latest venture go the way of Trump Tower or Trump University?

As we quickly learned, the quality of the Trump family’s crypto efforts is almost a red herring (although we’ve reported on it extensively, including surprisingly with my colleague Ben Weiss. new part of American Bitcoin). Rather, ethics watchdogs arguing that Trump is using his blockchain businesses as a way to sell access. But unlike the concerns during his first term that foreign dignitaries could book rooms in Trump’s hotels, which taught the term “emoluments” to millions of Americans, now anyone with an internet connection can effectively wire Trump millions of dollars by setting up a digital wallet and reaping the rewards. His highest holdings of memecoin enjoyed a private audience with the president in May, though not all of them gLAD by the food they serve.

In hindsight, those ethical concerns also seem strange. On Saturday night, the Wall Street Journal published a bomb report that two lieutenants of a member of the royal family of Abu Dhabi signed a contract to fund $500 million to World Liberty Financial, the crypto platform of the Trump family, in exchange for a 49% ownership stake, a few days before his inauguration. As the Journal plainly stated, this is something unprecedented in American politics: “A foreign government official taking a large stake in a future US president’s company.” And just a few months ago, the Trump administration gave the United Arab Emirates access to advanced US chips despite widespread security concerns (although a spokesperson for World Liberty SPOKE luck that the deal has nothing to do with the actions of the administration of the chips).

As the shockwaves of the scandal reverberate, one nagging question remains: Is Trump bad for blockchain? The industry spent hundreds of millions of dollars on the 2024 election, which culminated in the coronation of Trump, who promoted digital asset regulation, hosted summits, and appointed czars. But now, the landmark Clarity Act is ceased in the Senate as Democrats call for ethics provisions that would prohibit the president from profiting from crypto holdings, and that groundswell of opposition is likely to grow. And despite Trump’s cheerleading, Bitcoin prices are near their lowest prices in a year, with many retail traders. away.

For many Americans, crypto is now inextricably linked to the Trump family. Be careful what you wish for.

Merger madness…SpaceX A long-rumored takeover of xAI, both of Elon Musk’s companies, has been completed in a stunning deal that could set the joint venture for one of the largest IPOs in history by market value. This comes months after xAI was acquired Xanother Musk venture, for $33 billion, all-stock deal, and a month after Tesla revealed that it has invested $2 billion in xAI. According to Bloomberg reporting, the new deal will bring a combined business value of $1.25 trillion. You can read all about it HERE.

Leo Schwartz
X: @leomschwartz
Email: [email protected]

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VENTURE DEALS

– Shield Technology Partnersa Tampa, Fla-based IT services platform, raised $100 million from Thrive Holdings.

– Takersa Barcelona, ​​Spain-based company that uses AI to revolutionize how clinical trials are designed and conducted, has raised $52 million in Series A funding from DST Whole world Colleagues, Mustard Seed Mazeand existing investors Northern Lights VC and YZR capital.

– Day AIa Boston, Mass.-based AI-native customer relationship management platform, has raised $20 million in Series A funding. Sequoia capital led the round and was joined by Sound Ventures, Permanent Capital, Convictionand Greenoaks.

– Linqa platform based in Birmingham, Ala. which is designed to enable AI agents to iMessage users, text, and call, has raised $20 million in Series A funding. TQ Trades led the round and was joined by angel investors.

– Plugan electric vehicle marketplace based in Santa Monica, Calif., has raised $20 million in Series A funding. Lightspeed led the round and was joined by Galvanize and existing investors.

– The GoCaba company based in Abidjan, Ivory Coast that provides credit to gig workers to buy vehicles and encourages them to work towards owning them, has raised $15 million in funding. E3 capital and JANNGO capital led the round and was accompanied by KawiSafi Trades and Cur8 capital.

– Incarda London, UK-based financial platform designed for ecommerce operations, has raised £10 million ($13.7 million) in Series A funding. Smartfin led the round and was joined by Builders capital, MountFundand angel investors.

– Loop AIa San Francisco-based agent AI platform designed for marketing, finance, and operations teams for the restaurant and retail industries, has raised $14 million in Series A funding. Nyca Colleagues led the round and was joined by Gokul Rajaram, Base10, ago capital, together, Alumni Tradesand so on.

– Likewisea Berkeley, Calif.-based AI-powered date planner for college students, has raised $9.2 million in seed funding. Peak XV Colleagues led the round and was joined by Gradient, Writing Trades, Alumni Tradesand Llama Trades.

– Arbora New York City-based AI research platform for business operations, has raised $6.3 million across seed and pre-seed rounds. 645 Trades led the round and was joined by nEXT play Trades, Chaac Trades, Comma capitaland angel investors.

– Supra Element Recoveryan Austin, Texas-based critical minerals recovery and refining company, secured $2 million. Crucible Capital led the round and was joined by U.T Seed Fund, Climate capital, Portmanteau Tradesand Pew Protection Trust.

PRIVATE EQUITY

– Vision Innovative Partnersbacked by Gryphon InvestorsObtained Ophthalmic Associates of Alexandriaan ophthalmology practice based in Alexandria, Va. Financial terms were not disclosed.

EXITS

– G2 Obtained Capterraan Arlington, Va.-based software discovery platform, Software Advicean Austin, Texas-based software discovery platform, and GetAppa Stamford, Conn.-based software discovery platform, from Gartner. Financial terms were not disclosed.

FUND + FUND FUND

– builder capitala venture capital firm based in Zurich, Switzerland, has raised $110 million for its first fund focused on deeptech, software, and education technology companies.

PEOPLE

– Bregal Sagemounta New York City and Palo Alto, Calif.-based private equity firm initiated Carry On Breskman to partner. Also, Harrison Brunelli and Steve Griffin promoted to the principal.

– Capital of Brighton ParkGreenwich, Calif.-based private equity firm, hired Connie Heil as a partner. Before, he was with Arsenal Capital Partners.

– Everywhere Colleaguesa venture capital firm based in New York City, was hired Anna BARBER as a general partner. Previously, he was a venture partner at the FUNDS and has served as a board member of several companies since then.

– iron spring Tradesa venture capital firm based in Austin, Texas, was hired Drew Kriens as principal. Previously, he was a senior partner at standardized Investments.