Bitcoin Bounces Back to $61K Amid Market Turbulence

WHO:

CNN - President Donald Trump, Hilary Allen (law professor at American University), Yusuf Fakhro (partner at ARP Digital), Eswar Prasad (economics professor at Cornell University).

WHAT:

CNN - Trump’s family crypto firm, World Liberty Financial, earned more than $1 billion from token sales last year, according to his latest financial disclosure.

Al Jazeera - Pakistan's Ministry of Finance signed a memorandum of understanding with SC Financial Technologies to explore the use of its dollar-pegged USD1 stablecoin for cross-border payments.

Al Jazeera - Pakistan received $38.3 billion in remittances in the last financial year, a 27 percent increase over the previous year, with expectations for remittances to cross $42 billion this year.

Al Jazeera - Inflows in May reached a record $4.25 billion, the highest monthly total recorded.

CNN - Trump brushed off concerns about profiting from his crypto ventures, attributing his wealth increase to the rising stock market.

CNN - Trump's crypto firm, World Liberty Financial, earned more than $1 billion from token sales last year, with his largest haul being $635 million from a licensing agreement related to his memecoin, which has lost 98% of its value since launch.

Al Jazeera - Pakistani officials confirmed that there has been no pilot project to use the USD1 stablecoin, no licenses issued, and no known transactions using it.

Al Jazeera - The Virtual Assets Act, passed in March, created the Pakistan Virtual Assets Regulatory Authority (PVARA), which is still only accepting preliminary applications for licensing.

Al Jazeera - Trump's family crypto firm, World Liberty Financial, earned more than $500 million from token sales last year, part of a broader crypto windfall worth hundreds of millions of dollars more.

Al Jazeera - Pakistan's Ministry of Finance signed a memorandum of understanding with SC Financial Technologies, an affiliate of World Liberty Financial, to explore the use of its dollar-pegged USD1 stablecoin for cross-border payments.

Al Jazeera - Pakistan received $38.3 billion in remittances in the last financial year, a 27 percent increase over the previous year.

Al Jazeera - Inflows in May reached a record $4.25 billion, with expectations for remittances to cross $42 billion this year.

CNN - Trump earned more than a billion dollars from cryptocurrency ventures in the year following Election Day 2024.

CNN - Bitcoin's value rocketed more than 80% after Trump's election, hitting an all-time high above $126,000 in October 2025.

CNN - Trump's crypto firm, World Liberty Financial, took in more than $500 million from token sales last year.

CNN - Trump's largest haul from his memecoin was $635 million, which has lost 98% of its value since its launch.

CNN - Daily liquidations in the crypto market dropped from $448 million to $413 million, with shorts making up $283 million of that figure.

CNN - Trump’s family’s crypto venture earned more than $1 billion last year.

CNN - Bitcoin hit an all-time high above $126,000 in October 2025.

CNN - Bitcoin is currently hovering below the $60,000 level, down more than 50% from its peak.

CNN - Trump’s crypto firm, World Liberty Financial, took in more than $500 million from token sales last year.

CNN - Trump earned $635 million from a licensing agreement related to his memecoin.

CNN - The SEC has dropped a series of enforcement actions against crypto companies and investors with ties to the Trump family.

WHERE:

CNN - Joint Base Andrews (location of Trump's remarks).

WHEN:

CNN - Trump’s re-entry to the White House occurred during his 2024 campaign.

WHY:

CNN - Trump promised to make the United States the global “crypto capital” during his 2024 campaign.

CNN - The crypto industry has been seeking legitimacy to attract new investments.

HOW:

Al Jazeera - The Virtual Assets Act, passed in March, created a permanent regulator, the Pakistan Virtual Assets Regulatory Authority (PVARA), which is still only accepting preliminary applications for licensing.

Al Jazeera - The senior banking executive in Pakistan stated that the MoU with World Liberty Financial is exploratory and does not commit to deploying any particular stablecoin.

Al Jazeera - The Virtual Assets Act, passed in March, created a permanent regulator, the Pakistan Virtual Assets Regulatory Authority (PVARA), with powers to license firms and impose prison sentences of up to five years for operating without approval.

CNN - Trump proposed a “strategic bitcoin reserve” to backstop the token’s value.

CNN - The White House has installed industry-friendly officials at the SEC and has proposed bipartisan, industry-backed bills to establish clearer federal guidelines for digital assets.

(UPDATED July 3, 2026 21:17 UTC)

Trump's family crypto firm, World Liberty Financial, reported earning over $1 billion from token sales last year, according to his latest financial disclosure. In Pakistan, the Ministry of Finance has signed a memorandum of understanding with SC Financial Technologies to explore the use of its dollar-pegged USD1 stablecoin for cross-border payments, while remittances have surged to $38.3 billion in the last financial year, a 27 percent increase, with expectations to exceed $42 billion this year. Additionally, inflows in May reached a record $4.25 billion, the highest monthly total recorded, following the establishment of the Pakistan Virtual Assets Regulatory Authority, which is currently accepting preliminary applications for licensing under the Virtual Assets Act passed in March.

(UPDATED July 3, 2026 19:21 UTC)

Trump has dismissed concerns about profiting from his cryptocurrency ventures, claiming that his wealth has increased due to the rising stock market. His crypto firm, World Liberty Financial, generated over $1 billion from token sales last year, with the largest portion coming from a licensing deal related to his memecoin, which has since plummeted in value by 98%. Meanwhile, Pakistani officials have confirmed that there has been no pilot project for the USD1 stablecoin, and the newly established Pakistan Virtual Assets Regulatory Authority is currently only accepting preliminary applications for licensing.

(UPDATED July 3, 2026 17:27 UTC)

Trump's family crypto firm, World Liberty Financial, made over $500 million from token sales last year, contributing to a broader crypto windfall of hundreds of millions more. In a significant move, Pakistan's Ministry of Finance has signed a memorandum of understanding with SC Financial Technologies, an affiliate of World Liberty Financial, to explore using its dollar-pegged USD1 stablecoin for cross-border payments. Meanwhile, Pakistan saw a remarkable increase in remittances, totaling $38.3 billion last financial year, with May alone bringing in a record $4.25 billion and expectations to surpass $42 billion this year.

(UPDATED July 3, 2026 15:40 UTC)

Trump earned over a billion dollars from cryptocurrency ventures in the year following Election Day 2024, with his crypto firm, World Liberty Financial, bringing in more than $500 million from token sales last year. Bitcoin's value soared more than 80% after Trump's election, reaching an all-time high above $126,000 in October 2025. However, his largest memecoin haul of $635 million has since plummeted, losing 98% of its value since its launch, while daily liquidations in the crypto market have decreased from $448 million to $413 million.

(UPDATED July 3, 2026 13:35 UTC)

President Trump recently highlighted that his family's crypto venture earned over $1 billion last year, with his firm, World Liberty Financial, generating more than $500 million from token sales. While Bitcoin reached an all-time high above $126,000 in October 2025, it is currently trading below $60,000, reflecting a significant drop of more than 50% from its peak. In a bid to establish the U.S. as the global "crypto capital," Trump has proposed a "strategic bitcoin reserve" and the White House is working on bipartisan bills to create clearer federal guidelines for digital assets.