U.S. Congressman Ro Khanna (D-CA) is introducing legislation that would prohibit the U.S. President, members of Congress, and their immediate families from owning, trading, or creating cryptocurrencies while in office, according to MSNBC reporting.
Khanna’s bill would mark the first major attempt to separate digital assets from political power.
Early details indicate the measure will bar elected officials and their families from holding or issuing cryptocurrencies and from accepting foreign-backed crypto investments.
The California lawmaker said the initiative aims to rebuild public trust and prevent policymakers from profiting off the very technologies they regulate.
Trump’s Changpeng Zhao pardon
The proposal follows President Donald Trump’s pardon of Binance founder Changpeng Zhao and seeks to eliminate what Khanna calls “blatant corruption” at the intersection of politics and crypto.
“The pardon of Zhao is corrupt,” Khanna said on MSNBC. “You’ve got a foreign billionaire engaged in money laundering and financing terrorism, who supports the president’s son’s cryptocurrency firm, and then the president pardons him. This is corruption in plain sight.”
Zhao, the co-founder and former CEO of Binance, served four months in prison after pleading guilty to violating U.S. banking laws.
His company was accused of allowing illicit money flows linked to child exploitation, drug trafficking, and terrorism. Soon after Zhao’s financial backing of World Liberty Financial — the crypto project founded by Donald Trump Jr. and Eric Trump — was revealed, Trump granted him a pardon.
Khanna’s proposal directly targets that entanglement. By banning crypto ownership and trading among officials, he hopes to draw a clear boundary between public service and private gain.
The measure mirrors previous calls to ban stock trading by lawmakers and follows Senator Adam Schiff’s COIN Act, which specifically sought to limit the Trump family’s crypto activities.
Insider trading in Congress
Lawmakers have long and repeatedly introduced legislation in hopes to curb insider trading among members of Congress.
The STOCK Act, passed in 2012 with broad bipartisan support, was designed to require members to disclose stock trades within 30 days and penalize those who used insider information for personal gain.
Earlier this year, The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act (S.1498) was proposed in the U.S. Senate by Senator Josh Hawley (R-MO).
The bill addresses concerns about conflicts of interest and potential insider trading among Members of Congress by prohibiting them and their spouses from holding, purchasing, or selling most individual stocks, security futures, commodities, and similar financial instruments while in office.
DJT stock price remains in a tight range near its all-time low, but this could change soon as it formed a highly bullish chart pattern. Trump Media was trading at $16.30, down by 62% from its highest point this year.…
This article was first published on The Bit Journal. Bitcoin surged past $116,000 on Monday morning after U.S. Treasury Secretary Scott Bessent announced a “very substantial framework” for a trade agreement between Washington and Beijing.
Although a video of 79-year-old President Donald Trump dancing when he landed in Malaysia caught social media attention throughout the weekend, it was the words of Bessent that led to the optimistic reaction of global markets and investors, which boosted both stocks and cryptocurrencies.
Bitcoin Surge Mirrors Global Market Optimism
The Bitcoin surge was accompanied by an increase in traditional markets, as stocks also opened higher in Asia and the U.S, reflecting renewed optimism on reducing trade tensions between the two largest economies in the world.
Trump arrived in Kuala Lumpur on Sunday to pay a visit to the 47 th Association of Southeast Asian Nations (ASEAN) summit where his delegation is said to have assisted in brokering a peace deal between Cambodia and Thailand. Bessent, in the meantime, had signed various memorandums of understanding (MOUs) with Asian collaborators on rare earth mineral cooperation the strategic victory at a time of continued global realignments of supply chains.
U.S.-China Talks Spark Global Market Optimism
Nevertheless, the greatest achievement was the behind-the-scenes talks made by Bessent with the Chinese officials, which led to a tentative framework of trade that sought to end months of trade stalemate. Bessent said during an interview on NBC:
“We’ve created a framework for the two leaders to discuss on Thursday in Korea.I think it will be fantastic for U.S. citizens, for U.S. farmers, and for our country in general.”
The markets reacted quickly to the announcement. Bitcoin surge momentum drove the price to $114,217.55 at the time of writing, a 1.93 percent rise on the last day and 4.73 percent on the week, respectively. The cryptocurrency has been ranging between $113,015.30 and $116,273.31 since Sunday, which is one of the most stable and bullish weekends of the cryptocurrency in the last several months.
Bitcoin Surge Fuels Derivatives Market Expansion
Trade activity increased accordingly. The 24-hour trading volume of Bitcoin increased by 87.11 percent to reach $62.55 billion, and market capitalization increased by 1.95 percent. The crypto market dominance of the asset did not significantly change at 59.63, increasing by a small margin of 0.01%.
The enthusiasm was reflected in derivatives markets. According to Coinglass data, open interest in Bitcoin futures rose 3.05 to $76.18 billion and total liquidations reached $140.97 million. Bitcoin surge had a big impact on short positions where they sustained a loss of $123.30 million and long traders suffered a relatively small loss of $17.67 million.
Bitcoin Surge Momentum Builds Ahead APEC
The most recent Bitcoin boom, analysts argue, highlights the extent to which cryptocurrency markets are following macroeconomic trends and geopolitical changes. The recent surge of Bitcoin demonstrates how vulnerable the digital goods are to conventional market drivers such as trade policy and diplomatic co-operation, according to one Singapore-based trader.
The following week may be a key one. On Thursday, Donald Trump and Chinese President Xi Jinping will hold an initial meeting on the Asia Pacific Economic Cooperation (APEC) summit in South Korea where both the leaders are likely to agree on the specifics of the proposed trade setup.
Should the discussions lead to tangible gains, analysts foresee the potential further increase of the Bitcoin surge and even new all-time highs by early November.
Conclusion
As global markets ride a wave of optimism, all eyes now turn to Thursday’s APEC summit in South Korea. The anticipated Trump–Xi meeting could determine whether the current Bitcoin surge and stock market rally evolve into sustained economic momentum or fade with unmet expectations.
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Summary
Bessent announced a major U.S.-China trade framework during Trump’s ASEAN visit.
The news sparked a Bitcoin surge past $116,000 and boosted global stocks.
Bitcoin trading volume jumped 87%, with futures and market cap rising.
Focus shifts to the APEC summit for Trump–Xi trade discussions.
Glossary of Key Terms
Bitcoin Surge: Rapid rise in Bitcoin’s price.
Scott Bessent: U.S. Treasury Secretary behind the trade deal news.
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A new study indicates that Donald Trump’s frequent shrugging is a deliberate communication tool used to establish common ground with his audience and express negative evaluations of his opponents and their policies. The research, published in the journal Visual Communication, suggests these gestures are a key component of his populist performance style, helping him appear both ordinary and larger-than-life.
Researchers have become increasingly interested in the communication style of right-wing populism, which extends beyond spoken words to include physical performance. While a significant amount of analysis has focused on Donald Trump’s language, particularly on social media platforms, his live performances at rallies have received less systematic attention. The body is widely recognized as being important to political performance, but the specific gestures used are not always well understood.
This new research on shrugging builds on a previous study by one of the authors that examined Trump’s use of pointing gestures. That analysis found that Trump uses different kinds of points to serve distinct functions, such as pointing outwards to single out opponents, pointing inwards to emphasize his personal commitment, and pointing downwards to connect his message to the immediate location of his audience. The current study continues this investigation into his non-verbal communication by focusing on another of his signature moves, the shrug.
(1) Political scientists frequently refer to the more animated bodily performance of right wing populist politicians like Trump compared to non-populist leaders. We wanted to study one gesture – the shrug – that seemed to be implicated here. (2) Trump’s shrug gestures have been noted by the media previously and described as his “signature move”. We wanted to study this gesture in more detail to examine its precise forms and the way he uses it to fulfil rhetorical goals.”
“(3) To meet a gap: while a great deal has been written about Donald Trump’s speech and his use of language online, much less has been written about the gestures that accompany his speech in live settings. This is despite the known importance of gesture in political communication.”
To conduct their analysis, the researchers examined video footage of two of Trump’s campaign rallies from the 2016 primary season. The events, one in Dayton, Ohio, and the other in Buffalo, New York, amounted to approximately 110 minutes of data. The researchers adopted a conservative approach, identifying 187 clear instances of shrugging gestures across the two events.
Each shrug was coded based on its physical form and its communicative function. For the form, they classified shrugs based on the orientation of the forearms and the position of the hands relative to the body. They also noted whether the shrug was performed with one or two hands and whether it was a simple gesture or a more complex, animated movement. To understand the function, they analyzed the spoken words accompanying each shrug to determine the meaning being conveyed.
Hart was surprised “just how often Trump shrugs – 1.7 times per minute in the campaign rallies analyzed. Trump is a prolific shrugger and this is one way his communication style breaks with traditional forms of political communication.”
The analysis of the physical forms of the shrugs provided evidence for what has been described as a strong “corporeal presence.” Trump tended to favor expansive shrugs, with his hands positioned outside his shoulder width, a form that physically occupies more space.
The second most frequent type was the “lateral” shrug, where his arms extend out to his sides, sometimes in a highly theatrical, showman-like manner. This use of large, exaggerated gestures appears to contribute to a performance style more commonly associated with live entertainment than with traditional politics.
The researchers also noted that nearly a third of his shrugs were complex, meaning they involved animated, oscillating movements. These gestures create a dynamic and sometimes caricatured performance. While these expansive and animated shrugs help create an extraordinary, entertaining persona, the very act of shrugging is an informal, everyday gesture. This combination seems to allow Trump to simultaneously signal both his ordinariness and his exceptionalism.
When examining the functions of the shrugs, the researchers found that the most common meaning was not what many people might expect. While shrugs are often associated with expressing ignorance (“I don’t know”) or indifference (“I don’t care”), these were not their primary uses in Trump’s speeches. Instead, the most frequent function, accounting for over 44 percent of instances, was to signal common ground or obviousness. Trump often uses a shrug to present a statement as a self-evident truth that he and his audience already share.
For example, he would shrug when asking rhetorical questions like “We love our police. Do we love our police?” The gesture suggests the answer is obvious and that everyone in the room is in agreement. He also used these shrugs to present his own political skills as a given fact or to frame the shortcomings of his opponents as plainly evident to all. This use of shrugging appears to be a powerful tool for building a sense of shared knowledge and values with his supporters.
“Most people think of shrugs as conveying ‘I don’t know’ or ‘I don’t care,” Hart told PsyPost. “While Trump uses shrugs to convey these meanings, more often he uses shrugs to indicate that something is known to everyone or obviously the case. This is one of the ways he establishes common ground and aligns himself with his audience, indicating that he and they hold a shared worldview.”
The second most common function was to express what the researchers term “affective distance.” This involves conveying negative emotions like disapproval, dissatisfaction, or dismay towards a particular state of affairs. When discussing trade deals he considered terrible or military situations he found lacking, a shrug would often accompany his words. In these cases, the gesture itself, rather than the explicit language, carried the negative emotional evaluation of the topic.
Shrugs that conveyed “epistemic distance,” meaning ignorance, doubt, or disbelief, accounted for about 17 percent of the total. A notable use of this function occurred during what is known as “constructed dialogue,” where Trump would re-enact conversations. In one instance, he used a mocking shrug while impersonating a political opponent to portray them as clueless and incompetent, a performance that drew laughter from the crowd.
The least common function was indifference, or the classic “I don’t care” meaning. Though infrequent, these shrugs served a strategic purpose. When shrugging alongside a phrase like “I understand that it might not be presidential. Who cares?,” Trump used the gesture to dismiss the conventions of traditional politics. This helps him position himself as an outsider who is not bound by the same rules as the political establishment.
The findings highlight that “what politicians do with their hands and other body parts is an important part of their message and their brand,” Hart told PsyPost. However, he emphasizes that “gestures are not ‘body language.’ They do not accidentally give away one’s emotional state. Gestures are built in to the language system and are part of the way we communicate. They carry part of the information speakers intend to convey and that information forms part of the message audiences take away.”
The study does have some limitations. Its analysis is focused exclusively on Donald Trump, so it remains unclear whether this pattern of shrugging is unique to his style or a broader feature of right-wing populist communication. Future research could compare his gestural profile to that of other populist and non-populist leaders.
Additionally, the study centered on one specific gesture, and a more complete picture would require analyzing the full range of a politician’s non-verbal repertoire. The authors also suggest that future work could examine other elements, like facial expressions and the timing of gestures, in greater detail.
Despite these limitations, the research provides a detailed look at how a seemingly simple gesture can be a sophisticated and versatile rhetorical tool. Trump’s shrugs appear to be a central part of a performance style that transgresses political norms, creates entertainment value, and forges a strong connection with his base. The findings indicate the importance of looking beyond a politician’s words to understand the full, embodied performance through which they communicate their message.
“We hope to look at other gestures of Trump to build a bigger picture of how he uses his body to distinguish himself from other politicians and to imbue his performances with entertainment value,” Hart said. This might include, for example, his use of chopping or slicing gestures. I also hope to explore the gestural performances of other right wing populist politicians in Europe to see how their gestures compare. ”
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Mike Selig has just been nominated by President Donald Trump to lead the Commodity Futures Trading Commission (CFTC).
According to multiple reports, crypto regulator Mike Selig is currently the chief counsel for the Securities and Exchange Commission (SEC) Crypto Task Force and has experience at the CFTC under former chair Chris Giancarlo.
The nomination comes as the Trump administration is trying to refine the regulation, oversight, and institutional framework of the digital assets space.
Who is Crypto Regulator Mike Selig?
Mike Selig’s background is a mix of traditional financial regulation and crypto-policy experience. He’s currently Chief Counsel for the SEC’s Crypto Task Force and has advised SEC Chair Jay Clayton.
Before that, he worked at the CFTC as a law clerk or counsel and was a partner at the law firm Willkie Farr & Gallagher, specializing in asset-management and digital-asset regulation.
He’s publicly commented on the classification of digital assets, including saying in 2023 that “XRP itself is simply computer code. A fungible commodity, like gold or whiskey.”
Hence, experts say he would bring regulatory gravitas and crypto awareness to the role.
The Timing and Strategy Behind the Nomination
Selig’s nomination comes at a time when the U.S. regulatory framework for crypto is in flux. Legislation like the CLARITY Act and the GENIUS Act are being set to clarify which agency oversees which types of digital assets.
Reports share that the CFTC and SEC just had joint discussions to eliminate fragmentation in crypto oversight. Crypto regulator Mike Selig is to replaces a previously stalled candidate, Brian Quintenz, whose appointment was met with industry push-back.
White House crypto adviser David Sacks described Selig as “deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach” in his announcement.
What Selig’s Nomination Means for Crypto Markets
With Selig in charge, the CFTC may get more responsibility in the digital-asset space. The nomination is about the agency’s role in overseeing commodities and derivatives, including digital asset-related products.
Sources reported that Selig is charged with just as the CFTC is expected to take on new authority over the nearly $4 trillion crypto market.
Moreover, Selig’s comments and analysis of the Ripple Labs litigation show he’s comfortable classifying digital assets as commodities rather than securities, a big holding block in regulatory terms.
His appointment may make market participants open up more access to regulated platforms and vehicles.
Agency Boundaries and Oversight
The big question in crypto regulation has been jurisdiction: which agency regulates what? The SEC has always focused on securities, while the CFTC handles commodities and derivatives.
Crypto regulator Mike Selig’s nomination aligns with recent signals of cooperation between the two agencies. A joint roundtable held in September featured SEC Chairman Atkins and acting CFTC Chair Caroline Pham saying they would end decades of regulatory fragmentation.
Selig’s nomination reinforces that. According to expert analysis, his dual agency background means he can streamline overlapping regulatory mandates. That could mean clearer paths for token classification, custody frameworks, and digital-asset exchanges, fewer grey areas for issuers and investors.
Industry Reaction and Outlook
Industry has welcomed the nomination. The crypto community noted his previous comments and legal positions align with the adoption of digital assets. Charles Hoskinson, founder of Cardano, wrote on X:
“Chairman Selig is going to do a great job at the CFTC. I have full confidence in his ability and leadership.”
The media also said crypto regulator Mike Selig is seen as a market-friendly regulator compared to previous enforcement-heavy regimes. While confirmation by the Senate is still needed, the nomination itself is a signal that the regulatory environment may favor of more structured crypto oversight.
Conclusion
Crypto regulator Mike Selig’s nomination as CFTC chair means a big change for digital-asset oversight in the US. With experience at both the SEC and CFTC, Selig is put uo to lead at a moment of regulatory convergence, institutional engagement and legislative momentum.
His nomination means the US is doubling down on its goal to be a global hub for crypto innovation, with clearer rules and coordinated oversight.
The impact is expected to be far-reaching, from institutional access to token classification, custody services, and trading venues.
Glossary
CFTC: US regulatory agency that oversees commodity futures, options, and derivatives.
SEC: US federal agency; that enforces securities laws and regulates securities markets.
Crypto-Task Force: A unit within the SEC, focused on crypto-asset regulation, compliance, and enforcement.
Token classification: The legal determination of whether a digital asset is a security, commodity, or other asset class with regulatory implications.
Confirmation (Senate): The process by which the US Senate approves presidential nominees for agency leadership.
Regulatory convergence: The alignment of rules, mandates, and enforcement approaches across multiple agencies, to reduce conflict and overlap.
Frequently Asked Questions About Crypto Regulator Mike Selig
Who is Mike Selig and why is his background important?
Mike Selig is the current chief counsel for the SEC’s Crypto Task Force, previously worked at the CFTC and in private practice focused on asset-management and digital-asset regulation.
Why is this big for crypto?
He’s being nominated at a time of regulatory flux and legislative movement so clarity on oversight, token classification and institutional access might be seen.
What will the CFTC do under his leadership?
He may expand CFTC oversight of digital assets treated as commodities or derivatives and coordinate more with the SEC on securities-type tokens.
Is the nomination confirmed?
As of the latest report; he’s been nominated but still needs Senate confirmation before he can take the chair.
How is the crypto community reacting?
Many are positive; citing his prior legal commentary and regulatory experience. For example; Cardano’s founder is fully confident in his ability to lead the CFTC.
American Bitcoin Corp. (Nasdaq: ABTC), a Trump family–backed mining platform, has expanded its Bitcoin holdings to 3,865 bitcoin, adding 1,414 bitcoin since September through a combination of mining production and secondary market purchases.
The Miami-based firm, which describes itself as “America’s Bitcoin infrastructure backbone,” said the latest accumulation includes coins held in custody and those pledged for miner purchases under its ongoing procurement deal with Bitmain.
The update continues a rapid expansion trajectory that began earlier this year when Hut 8 spun out its U.S. mining arm as a separate, publicly traded entity.
American Bitcoin initially held around 500 BTC at the time of the carve-out, then purchased another 1,726 BTC between July and August for approximately $205 million.
Those holdings were pledged to Bitmain as collateral for a $314 million order of 16,299 Antminer U3S21EXPH units — nearly the full 15 EH/s option under the companies’ strategic supply agreement. Most of those machines will be hosted at Hut 8’s new Vega site in Texas, a 400-megawatt facility central to American Bitcoin’s push toward 25 EH/s of proprietary hashrate.
“We believe one of the most important measures of success for a Bitcoin accumulation platform is how much Bitcoin backs each share,” said Eric Trump, co-founder and chief strategy officer. “As part of that conviction, we are focused on providing transparent updates as we aim to increase our holdings.”
JUST IN: Trump Family-backed BTC miner American Bitcoin acquires 1,414 Bitcoin.
Executive Chairman Asher Genoot added that American Bitcoin’s integrated mining model allows it to lower its average cost per Bitcoin compared with treasury-style vehicles that buy on the open market.
“That structural advantage allows us to compound Bitcoin value per share more efficiently for our investors,” he said.
Shares of ABTC have been volatile since their September debut, rising 11% on Friday to close at $5.62 after recovering from midweek lows below $5.
The company, valued around $5.1 billion, remains one of the most closely watched plays in the sector — both for its aggressive expansion plans and its deep ties to the Trump family.
At the time of writing, the stock is trading at $5.83 and Bitcoin is trading at $115,000 after a couple of tumultuous weeks.
Gryphon, American Bitcoin merger
Earlier this year, Gryphon Digital Mining merged with American Bitcoin Corp., the Trump family–backed subsidiary of Hut 8, to form what they claim could become the most efficient pure-play Bitcoin miner in the industry.
The all-stock merger saw Gryphon shareholders own about 2% of the combined entity and American Bitcoin stakeholders hold 98%.
The merger, now finalized, provides American Bitcoin with a faster route to public markets and combines Gryphon’s mining technology with American Bitcoin’s capital strength and large-scale reserve strategy.
XRP is one of the first cryptocurrencies created with broad adoption and partnerships with banks and other institutions in mind. Over 10 years later, it is possible to pay for various goods and services with XRP, but today’s stablecoins pose…
President Donald Trump has selected Michael Selig, chief counsel for the Securities and Exchange Commission’s crypto task force, to chair the Commodity Futures Trading Commission (CFTC).
Selig’s nomination, first reported by Bloomberg, marks Trump’s second attempt to fill the CFTC’s top post, following the stalled nomination of Brian Quintenz, a16z crypto’s global policy chief, amid opposition from Gemini co-founder Tyler Winklevoss.
Selig, who serves as an aide to SEC Chairman Paul Atkins, has been instrumental in coordinating regulatory approaches between the SEC and CFTC on financial and crypto market oversight.
The CFTC, which regulates futures, swaps, and prediction markets, is gaining greater prominence as Congress considers new crypto market structure legislation.
Before joining the SEC, he was a partner at Willkie Farr & Gallagher, specializing in asset management.
Selig’s appointment will require Senate confirmation.
JUST IN: President Trump selects Michael Selig as CFTC chair amid crypto growth. pic.twitter.com/VeFZITp8U6
President Donald Trump also recently granted a full pardon to Binance founder Changpeng Zhao, calling his prosecution part of the prior administration’s “war on cryptocurrency.”
The move, confirmed by the White House, clears Zhao’s record and echoes a major shift in the government’s approach to the crypto industry.
Selig’s appointment comes as momentum behind U.S. crypto legislation accelerated this week as Coinbase CEO Brian Armstrong said the industry was “90%” of the way toward securing passage of the Digital Asset Market Clarity Act, or CLARITY Act.
Despite a partial government shutdown, lawmakers from both parties reportedly made major progress on the long-awaited market structure bill.
Armstrong met with senators from both parties, including Majority Leader Chuck Schumer, Sens. Kirsten Gillibrand, Cynthia Lummis, and Tim Scott, describing the discussions as “very productive.”
The bill, which passed the House in July with a bipartisan 294–137 vote, aimed to clarify which digital assets fall under the SEC versus the CFTC, while providing rules for decentralized finance (DeFi), stablecoins, and custody services.
The final sticking points centered on how to regulate DeFi and whether consumers could earn rewards on stablecoins. Crypto advocates urged lawmakers to target regulation at intermediaries rather than open-source code and warned that the banking lobby sought to limit yield on stablecoin holdings.
Despite procedural delays from the shutdown, optimism remained high. Lummis said she expected the bill to reach President Trump’s desk before year-end, calling it the most significant bipartisan step toward U.S. crypto clarity to date.
Donald Trump’s decision to pardon former Binance chief CZ has ignited controversy, with critics calling it “disgusting” and questioning the links between politics and crypto. Trump grants full pardon to CZ On Oct. 23, U.S. President Donald Trump granted a…
Donald Trump’s decision to pardon former Binance chief CZ has ignited controversy, with critics calling it “disgusting” and questioning the links between politics and crypto.
At London Blockchain Conference 2025, BBC's Mark Lobel chats with FCA's Jane Moore on regulation, innovation, and building safer digital asset products.
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