Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, the co-founder of World Liberty Financial pushes back against US lawmakers' attempts to probe potential conflicts of interest involving the president. Meanwhile, a new report reveals that 90% of institutional players are either using or planning to use stablecoins. In other news, the US Department of Justice has added 12 more individuals to its list of defendants in a major crypto racketeering case.

Zach Witkoff, one of the co-founders of the Donald Trump family-backed crypto platform World Liberty Financial (WLFI), has rebuffed efforts by US lawmakers to investigate the president’s potential conflicts of interest.

In a May 15 letter to Senator Richard Blumenthal, lawyers for World Liberty Financial claimed a call to investigate the crypto platform was based on “fundamentally flawed premises and inaccuracies.” Witkoff did not specifically address any allegations, claiming that WLFI was “too busy building” for oversight.

Read more