## Top Stories of the Week in Crypto
### Donald Trump Uses Bitcoin to Buy Burgers at NYC Bar
Former U.S. Republican Party presidential nominee Donald Trump made history on Sept. 18 by becoming the first former United States president to use Bitcoin (BTC) in a transaction at Pubkey, a New York City bar and restaurant famous for accepting cryptocurrency.
According to a post on X by Pubkey, Trump used Bitcoin to purchase hamburgers at the NYC bar. BTC advocate and Professional Capital Management CEO Anthony Pompliano was also in attendance at the campaign stop, which was also reported on Trump’s Truth Social account.
The event came less than two days after the Republican nominee announced the launch of a token through the World Liberty Financial crypto platform, which is run by members of his family. Despite once calling Bitcoin a “scam” and crypto “based on thin air,” Trump has advocated for BTC miners as part of his 2024 campaign and spoke at the Bitcoin 2024 conference in Nashville, Tennessee.
### US Lawmaker Accuses SEC of ‘Enforcement Abuse’ Against Crypto Firms
A Republican lawmaker chairing a House subcommittee overseeing digital assets on Sept. 18 heavily criticized the United States Securities and Exchange Commission (SEC) and its chair, Gary Gensler, for “inserting politics” into regulating crypto firms.
At a hearing of the House Subcommittee on Digital Assets, Financial Technology and Inclusion titled Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets, Arkansas Representative French Hill claimed that Chair Gensler’s approach to digital assets had led to “confusion and uncertainty” in the markets.
The subcommittee chair suggested alternative regulatory routes for crypto, such as the Financial Innovation and Technology for the 21st Century (FIT21) Act, which is currently moving through Congress.
### Fed Rate Cut May Be Politically Motivated, Will Increase Inflation — Arthur Hayes
BitMEX co-founder Arthur Hayes believes the United States Federal Reserve’s recent rate cut was likely politically motivated and could impact markets and inflation.
Speaking to Cointelegraph at Token2049 in Singapore on Sept. 18, Hayes shared his thoughts on the Fed’s recent action, speculating it could be part of an effort to bolster support for the Democratic Party.
On Sept. 18, the Fed cut U.S. interest rates by 50 basis points in a move widely anticipated by investors and analysts. Hayes said this could have significant implications for both traditional and crypto markets and potential long-term consequences for inflation and economic stability.
### Binance CEO Says Task Force Is Working ‘Across the Clock’ to Free Exec in Nigeria
Binance CEO Richard Teng says his team has been working “across the clock” to bring Tigran Gambaryan home to the United States as the executive’s health declines daily.
“We have appealed to the Nigerian government repeatedly to release Tigran […] so that he can go home and get the proper medical treatment that he needs.”
“There’s no need to hold our staff. He’s held unjustly, unfairly,” Teng told Cointelegraph at the Token2049 conference in Singapore on Sept. 19.
“It is distressing for all of us,” said Teng. “Especially for the families. For us at Binance, this is a top priority for us. We have a task force internally working across the clock, looking at different avenues from legal to political.”
### Solana Unveils New Seeker Device, Says It’s Not Just a ‘Memecoin Phone’
Solana has just revealed its newest, shiniest smartphone called Seeker — it’s half the cost of its predecessor and, according to the team, won’t just lean on free memecoins.
Saga, the smartphone’s predecessor, was launched to little fanfare in May last year. Initially buffeted by poor reviews from tech pundits and crypto users alike, Saga was arguably saved by a sudden 1,000% rally in the price of a memecoin called Bonk in December, causing the device to sell out on Dec. 16.
And Solana seemingly hasn’t forgotten about it.
For its new version, Solana is looking to offer access to similar rewards to 140,000 users who have already paid between $450 and $500 to pre-order Seeker.
## Winners and Losers
At the end of the week, Bitcoin (BTC) is at $63,127, Ether (ETH) at $2,559 and XRP at $0.58. The total market cap is at $2.20 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Sui (SUI) at 44.76%, Celestia (TIA)
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