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U.S. President Donald Trump looks on as he gives remarks outside the West Wing at the White House in Washington, D.C., U.S., May 8, 2025.

Kent Nishimura | Reuters

President Donald Trump is standing in his own way when it comes to passing crypto legislation.

Lawmakers this week rejected the GENIUS Act — a bill meant to establish federal rules for stablecoins — due in part to concerns that President Trump’s personal cryptocurrency ventures have created an unprecedented conflict of interest.

“Currently, people who wish to cultivate influence with the president can enrich him personally by buying cryptocurrency he owns or controls,” Sen. Jeff Merkley, D-Ore., said in a statement to CNBC explaining his opposition to the bill. “This is a profoundly corrupt scheme. It endangers our national security and erodes public trust in government.”

Stablecoins are digital currencies that are pegged to the value of other assets, like the U.S. dollar.

Getting anything passed in Congress is a steep uphill battle for Republicans given their razor-thin majority in the House, filibuster-proof requirement in the Senate, and Democrats’ increasingly unified stance against President Trump’s agenda. But enough Democrats appeared to be on board with a stablecoin law to bring about a rare bipartisan win for the president.

That’s until $TRUMP got in the way.

The president’s meme coin, which he launched just before the inauguration in January, has added billions of dollars of paper worth to his coffers. Its value soared last month after the project ran a promotion offering top $TRUMP holders a dinner with the president and a “VIP White House tour.” Sen. Richard Blumenthal, D-Conn., called it a “pay-for-play scheme.” First Lady Melania Trump has a coin as well.

The GENIUS bill failed to advance in the Senate on Thursday. It needed 60 votes to move to the Senate floor for final passage. The final tally was 48 in favor and 49 against. Three senators didn’t vote.

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Earlier in the week, Senate Democrats unveiled the “End Crypto Corruption Act,” spearheaded by Merkley and Minority Leader Chuck Schumer of New York, meant to prohibit elected officials and senior executive branch personnel and their families from issuing or endorsing digital assets.

But the key defections to the stablecoin legislation came last weekend, when a group of nine Senate Democrats — four of whom had previously voted for the bill in committee — said that they wouldn’t support it and called for stronger provisions to address “anti-money laundering, foreign issuers, and national security.”

‘Ongoing self-dealing’

Sen. Lisa Blunt Rochester of Delaware was one of the four. She pointed directly at Trump’s financial entanglements.

“I also remain concerned about the ongoing self-dealing and financial conflicts of interest being carried out by the Trump family,” she wrote in a statement on Thursday.

It’s not just about the $TRUMP and $MELANIA meme coins. There’s also the Trump family crypto venture World Liberty Financial, which was established last year and launched a stablecoin just as the administration pushed for looser regulations on digital assets.

Reports have indicated that Abu Dhabi-based MGX is using Trump’s stablecoin for a $2 billion investment in crypto exchange Binance, creating yet another potential conflict of interest for a sitting president.

For some investors and entrepreneurs in the crypto industry, the president’s pursuit of personal profits is creating a major impediment to long-awaited advancements. After years of setbacks during the Biden administration, the crypto lobby became a powerful force in funding Trump’s 2024 campaign and in successfully backing industry-friendly candidates for Congress.

“It’s unfortunate that personal business is getting in the way of good policy,” said Ryan Gilbert, founder of fintech venture fund Launchpad Capital. “I would hope that everybody in the administration, including the president, gets out of the way of good policy.”

The White House didn’t respond to a request for comment. At a press conference on Friday, White House press secretary Karoline Leavitt said, when asked about the meme coin dinner, that “the president is abiding by all conflict of interest laws.”

“The president is a successful businessman, and I think it’s one of the many reasons that people reelected him back to this office,” Leavitt said.

Pantera's legal chief on what's next after Congress blocks key crypto bill

A number of top Democrats, including Sen. Elizabeth Warren of Massachusetts and Kirsten Gillibrand of New York have joined the parade of critics, targeting President Trump’s personal pursuits. Gillibrand helped introduce the GENIUS Act earlier this year, but she said this week that there are “a number of outstanding issues that needed to be addressed before the bill could pass the full Senate.”

“I believe it is essential to the future of the U.S. economy and to everyday Americans that we enact strict stablecoin regulations and consumer protections where none currently exist,” Gillibrand said in a statement. “I remain extremely confident and hopeful that very soon we can finish the job.”

Sen. Blumenthal called for an investigation into Trump-linked coins, demanding financial records from World Liberty Financial and slamming the president for “the attempted use of the White House to host competitions to prop up the value of $TRUMP.”

Sen. Ruben Gallego, D-Arizona, had supported the GENIUS Act but said he couldn’t move forward this week after Republicans declined to provide more time to negotiate.

“Without more time to at least finish the bill, there was no true bipartisan path forward,” he wrote on X.

Launchpad’s Gilbert said the GENIUS Act is just the first piece. More broadly, the president’s conflicts could have an impact on hopes for other legislative achievements and deregulation efforts as well as the reputation of the U.S. crypto industry on the world stage.

“We will be the laughing stocks of the world for this particular reason, and it will hold back continued investment and innovation,” Gilbert said. “There was hope for the past six months that that we could lead in the United States, and that investment should pour into crypto-related businesses, and then it will be simpler and doable again, for all companies to take a lead and to invest in crypto assets.”

However, he said, “if the GENIUS Act doesn’t pass, we’re back to square one.”

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Honda now has an electric Ruckus. Will they bring it to the US?

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Honda now has an electric Ruckus. Will they bring it to the US?

The Honda Ruckus has earned cult status thanks to its minimalist styling, exposed frame, and seemingly endless customizability. The scooter, also known in international markets as the Honda Zoomer, has spent years being seen as a blank canvas for scooter tuners, urban commuters, and anyone who just wanted something simple, small, and kind of weird to zip around town. A few years ago, Honda finally answered the call for an updated version by announcing and producing the “Zoomer e:”, which was an electric version of the Honda Ruckus. So where is it?

When Honda launched the all-electric version of the Ruckus, the Zoomer e:, back in 2023, many fans hoped it was only a matter of time before we saw it quietly glide onto U.S. streets.

But two years later, there’s still no sign of a stateside release, and no indication that Honda plans to change that anytime soon.

The Zoomer e: was first introduced in China in early 2023 alongside two other retro-inspired electrics: the Cub e: and Dax e:.

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The Zoomer e: keeps the stripped-down, industrial look of the classic gas-powered Ruckus, but swaps the 49cc engine for a 400W rear hub motor and a 48V 24Ah battery (around 1.15 kWh).

It was originally given a top speed of a mere 25 km/h (15.5 mph) to keep it street legal as an electric bicycle in its first market of China, where it also came with functional but stubby pedals so riders could pretend it was actually pedalable.

The first version of the electric scooter claimed a range of up to 80–90 km (50–56 miles) from its removable lithium-ion battery, depending on conditions.

An advertisement for a Honda Zoomer e: in the Philippines via Facebook

We’ve since seen the performance bumped up to 40 km/h (25 mph) top speeds when the scooter was introduced into the Philippines market, where the local L1B classification allowed for higher speeds. It’s fairly obvious that the performance can be software-tweaked by Honda depending on the market, though likely to a limit. To achieve speeds much higher than 25 mph, a motor and controller swap may be required, though neither would be complicated.

In other words, the electric Ruckus’ debut revealed an ultra-lightweight, street-legal runabout designed for countries with expansive low-speed e-bike laws. But in the U.S., these types of quasi-e-bikes that are actually scooters are few and far between. The same performance can be had from a $1,000 electric bicycle, and in fact, Class 3 e-bikes in the US can go nearly twice as fast as the original electric Ruckus.

So Honda obviously hasn’t been in a rush to bring its low-spec version of the bike to the US market, where it would be a slower and heavier competitor to the wide range of cheap imported electric bicycles. However, its iconic design and cultural legacy have kept enthusiasm up for riders who have managed to privately import their own models. One Redditor appears to have imported two Honda Zoomer e: models in parts to assemble in the US, while someone else posted a YouTube video of his completely assembled Honda Dax e: model that was launched along the Zoomer e:.

Despite clear consumer interest and a growing market for low-speed electric vehicles, as well as Honda’s own proven interest in growing its electric scooter market, the company hasn’t made any moves to release the Zoomer e: in the US. That’s not surprising since America still lacks a robust electric scooter culture (or even a gasoline scooter culture, for that matter), and anything motorcycle-shaped that doesn’t hit 30+ mph tends to get passed over by mainstream buyers.

But perhaps that could change one day. Technically, bringing the Zoomer e: to the US wouldn’t be a monumental task for Honda. The U.S. is a self-certify country, meaning Honda could design a version that meets federal vehicle safety standards, beef up the motor and controller for higher speeds, and sell it as either a Class 2/3 e-bike, or perhaps more appropriately, as a low-speed motorcycle with a top speed in the 35-45 mph range (55-70 km/h).

With the rise of micromobility, electrification, and growing frustration with car-centric cities, now might actually be the perfect time for a reborn electric Ruckus to hit US roads. But until Honda decides to take that step, American riders will have to keep dreaming – or start importing.

A private import of a Honda Zoomer e: to the US

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BMW ups the ante with the fastest, most powerful electric maxi-scooter

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BMW ups the ante with the fastest, most powerful electric maxi-scooter

BMW Motorrad’s futuristic electric scooter just got its first real refresh since beginning production in 2021. The BMW CE 04, already one of the most capable and stylish electric maxi-scooters on the market, now gets a set of upgraded trim options, new aesthetic touches, and a more robust list of features that aim to make this urban commuter even more appealing to riders looking for serious electric performance on two wheels.

The BMW CE 04 has always stood out for its sci-fi styling and high-performance drivetrain. It’s built on a mid-mounted liquid-cooled motor that puts out 31 kW (42 hp) and 62 Nm of torque. That’s enough to rocket the scooter from 0 to 50 km/h (31 mph) in just 2.6 seconds – quite fast for anything with a step-through frame.

The top speed is electronically limited to 120 km/h (75 mph), making it perfectly capable for city riding and fast enough to hold its own on highway stretches. Range is rated at 130 km (81 miles) on the WMTC cycle, thanks to the 8.9 kWh battery pack tucked low in the frame.

But while the core performance hasn’t changed, BMW’s 2025 update focuses on refining the package and giving riders more options to tailor the scooter to their taste. The new CE 04 is available in three trims: Basic, Avantgarde, and Exclusive.

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The Basic trim keeps things clean and classic with a Lightwhite paint scheme and a clear windshield. It’s subtle, sleek, and very much in line with the CE 04’s clean-lined aesthetic. The Avantgarde model adds a splash of color with a Gravity Blue main body and bright São Paulo Yellow accents, along with a dark windshield and a laser-engraved rim. The top-shelf Exclusive trim is where things get fancy, with a premium Spacesilver metallic paint job, upgraded wind protection, heated grips, a luxury embroidered seat, and its own unique engraved rim treatment.

There are also a few new tech upgrades baked into the options list. Riders can now spec a 6.9 kW quick charger that reduces the 0–80% charge time to just 45 minutes (down from nearly 4 hours with the standard 2.3 kW onboard charger). Tire pressure monitoring, a center stand, and BMW’s “Headlight Pro” adaptive lighting system are also available as add-ons, along with an emergency eCall system and Dynamic Traction Control.

BMW has kept the core riding components in place: a steel-tube chassis, 15-inch wheels, Bosch ABS (with optional ABS Pro), and the impressive 10.25” TFT display with integrated navigation and smartphone connectivity. The under-seat storage still swallows a full-face helmet, and the long, low frame design means the scooter looks like something out of Blade Runner but rides like a luxury commuter.

With these updates, BMW seems to be further cementing the CE 04’s role at the high end of the electric scooter market. It’s not cheap, starting around €12,000 in Europe and around US $12,500 in the US, with prices going up from there depending on configuration. However, the maxi-scooter delivers real motorcycle-grade performance in a package that’s easier to live with for daily riders.

Electrek’s Take

I believe that the CE 04’s biggest strength has always been that it’s not trying to be a toy or a gimmick. It’s a real vehicle. Sure, it’s futuristic and funky looking, but it delivers on its promises. And in a market that’s still surprisingly sparse when it comes to premium electric scooters, BMW has had the lane mostly to itself. That may not last forever, though. LiveWire, Harley-Davidson’s electric spin-off brand, has teased plans for a maxi-scooter-style urban electric vehicle in the coming years, but as of now, it remains something of an undefined future plan.

Meanwhile, BMW is delivering not just a concept bike but a mature, well-equipped, and ready-to-ride electric scooter that keeps improving. For riders who want something faster and more capable than a Class 3 e-bike but aren’t ready to jump to a full-size electric motorcycle, the CE 04 hits a sweet spot. It delivers the performance and capability of a commuter e-motorcycle, yet with the approachability of a scooter. And with these new trims and upgrades, it’s doing it with even more style.

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I found this cheap Chinese e-cargo trike that hauls more than your car!

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I found this cheap Chinese e-cargo trike that hauls more than your car!

If you’ve ever wondered what happens when you combine a fruit cart, a cargo bike, and a Piaggio Ape all in one vehicle, now you’ve got your answer. I submit, for your approval, this week’s feature for the Awesomely Weird Alibaba Electric Vehicle of the Week column – and it’s a beautiful doozie.

Feast your eyes on this salad slinging, coleslaw cruising, tuber taxiing produce chariot!

I think this electric vegetable trike might finally scratch the itch long felt by many of my readers. It seems every time I cover an electric trike, even the really cool ones, I always get commenters poo-poo-ing it for having two wheels in the rear instead of two wheels in the front. Well, here you go, folks!

Designed with two front wheels for maximum stability, this trike keeps your cucumbers in check through every corner. Because trust me, you don’t want to hit a pothole and suddenly be juggling peaches like you’re in Cirque du Soleil: Farmers Market Edition.

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To avoid the extra cost of designing a linked steering system for a pair of front wheels, the engineers who brought this salad shuttle to life simply side-stepped that complexity altogether by steering the entire fixed front end. I’ve got articulating electric tractors that steer like this, and so if it works for a several-ton work machine, it should work for a couple hundred pounds of cargo bike.

Featuring a giant cargo bed up front with four cascading fruit baskets set up for roadside sales, this cargo bike is something of a blank slate. Sure, you could monetize grandma’s vegetable garden, or you could fill it with your own ideas and concoctions. Our exceedingly talented graphics wizard sees it as the perfect coffee and pastry e-bike for my new startup, The Handlebarista, and I’m not one to argue. Basically, the sky is the limit with a blank slate bike like this!

Sure, the quality doesn’t quite match something like a fancy Tern cargo bike. The rim brakes aren’t exactly confidence-inspiring, but at least there are three of them. And if they should all give out, or just not quite slow you down enough to avoid that quickly approaching brick wall, then at least you’ve got a couple hundred pounds of tomatoes as a tasty crumple zone.

The electrical system does seem a bit underpowered. With a 36V battery and a 250W motor, I don’t know if one-third of a horsepower is enough to haul a full load to the local farmer’s market. But I guess if the weight is a bit much for the little motor, you could always do some snacking along the way. On the other hand, all the pictures seem to show a non-electric version. So if this cart is presumably mobile on pedal power alone, then that extra motor assist, however small, is going to feel like a very welcome guest.

The $950 price is presumably for the electric version, since that’s what’s in the title of the listing, though I wouldn’t get too excited just yet. I’ve bought a LOT of stuff on Alibaba, including many electric vehicles, and the too-good-to-be-true price is always exactly that. In my experience, you can multiply the Alibaba price by 3-4x to get the actual landed price for things like these. Even so, $3,000-$4,000 wouldn’t be a terrible price, considering a lot of electric trikes stateside already cost that much and don’t even come with a quad-set of vegetable baskets on board!

I should also put my normal caveat in here about not actually buying one of these. Please, please don’t try to buy one of these awesome cargo e-trikes. This is a silly, tongue-in-cheek weekend column where I scour the ever-entertaining underbelly of China’s massive e-commerce site Alibaba in search of fun, quirky, and just plain awesomely weird electric vehicles. While I’ve successfully bought several fun things on the platform, I’ve also gotten scammed more than once, so this is not for the timid or the tight-budgeted among us.

That isn’t to say that some of my more stubborn readers haven’t followed in my footsteps before, ignoring my advice and setting out on their own wild journey. But please don’t be the one who risks it all and gets nothing in return. Don’t say I didn’t warn you; this is the warning.

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