#Trump family crypto project buys big on coins#

The Trump family's crypto project has sparked widespread attention, with their meme coin TRUMP quickly becoming one of the top ten tokens in terms of trading volume and holdings upon its launch, igniting significant market interest. Simultaneously, the Trump family also launched the MELANIA meme coin and collaborated with World Liberty Fi to significantly increase their holdings of ENA tokens. These moves have generated significant discussion about the Trump family's crypto ventures and raised concerns among industry insiders about the US Securities and Exchange Commission's (SEC) regulation of cryptocurrencies.Recently, Rex Shares and Osprey Funds submitted applications to the SEC for multiple cryptocurrency-focused exchange-traded funds (ETFs), including one that tracks the TRUMP price. This move is seen as a challenge to the SEC's regulation of cryptocurrencies and an attempt to bring Trump coin into the spotlight for institutional investors.The SEC has been cautious in its regulation of cryptocurrencies, having taken years to approve spot Bitcoin and Ethereum ETFs. It remains unclear how quickly these latest applications will be approved, but this event is undoubtedly a significant milestone in the history of cryptocurrencies.Furthermore, acting SEC Chair Mark T. Uyeda announced the creation of a new crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. This initiative signifies the SEC's intention to tighten its grip on the cryptocurrency industry, potentially impacting the Trump family's crypto projects.