In what could be the most important week of the year for cryptocurrency, social media platform X’s decision to remove crypto emojis has shocked the community. Republican Senator Roger Marshall withdrew his support for a controversial anti-crypto bill he co-authored with Senator Elizabeth Warren. Meanwhile, Donald Trump raised over $3 million in cryptocurrency in the second quarter from co-founders of several exchanges.
X Team’s Notable Decision
Elon Musk‘s X caused another stir in the crypto community by removing crypto emojis that had been in use for over four years. The crypto community on X is puzzled about the reasons for removing several crypto emojis, including Bitcoin, from the social media platform.
According to several reports, X removed the Bitcoin hashtag emoji and several other crypto emojis on July 25. The crypto community quickly reacted to the news of the removal of crypto emojis, with many industry advocates expressing their disappointment over the missing emojis.
Some observers predicted that the removal of Bitcoin emojis from X could negatively affect Bitcoin’s price. However, the removals were not limited to Bitcoin alone. Hashtags for other assets like Cronos and BNB, created in 2020, were also deleted from X.
Legislation Debate Continues in the US
Republican Senator Roger Marshall withdrew his support for a controversial anti-crypto bill he co-authored with Democratic Senator Elizabeth Warren in 2022. On July 24, Marshall withdrew his support as a co-sponsor of the Crypto Asset Anti-Money Laundering Act, and according to the official Congressional guide on the bill, 18 senators continued to support it.
The bill aims to curb the crypto industry under existing Anti-Money Laundering and counter-terrorism financing frameworks. Several crypto organizations and individuals harshly criticized the proposed legislation for exaggerating the role of crypto in financing illegal activities and warned that it could hinder the US crypto industry.
Trump Raised $3 Million in Election Campaign
Donald Trump‘s election campaign has raised approximately $3 million in cryptocurrency donations since May 2024. This is according to the Federal Election Commission’s second-quarter filings.
Most of these donations came from venture capitalists and individual contributions from Cameron and Tyler Winklevoss, founders of the Gemini crypto exchange, and Jesse Powell, co-founder of Kraken. Each pledged to donate $1 million, but election regulations capped individual contributions at $844,600.
