The crypto industry’s “educational nonprofit” has also launched an initiative to fund Congressional staff positions after participants go through weeks of “training” on “emerging technologies like crypto, AI, biotech, and defense tech”.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
The NYC is inoculating itself from criticism in the post-trump era.
@molly0xfff Congratulations on 100 issues that’s just so great.
For years, crypto executives have touted cryptocurrency’s supposed anti-authoritarian and human rights credentials. But where are they when their beloved president claims Alex Pretti’s lawful gun ownership justified his killing, or when ICE leaders tell subordinates to enter homes without warrants?
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
@molly0xfff The worst thing about Bitcoin is the people into it. But same is true of traditional finance from whence Epstein Island and many social ills for many years.
Bitcoin is freedom money, they say, and you will use it whether you want to or not.
@molly0xfff the dates of those quotes show they were a joke
The answer, of course, is that they never actually cared about these principles at all. In fact, many of these executives have long made it clear that authoritarianism isn’t just collateral damage in their pursuit of business-boosting deregulation, but a desirable outcome.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
Amid all this, the crypto industry has amassed at least $315 million to spend in the midterms — more than double their recordbreaking 2024 spending that helped install Trump and members of Congress who either support his atrocities or are too craven to do anything about them.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
The Fairshake PAC timed a press blitz about the nearly $200 million they’re brandishing towards members of Congress just ahead of a Senate Ag vote on crypto market structure. It passed, and amendments to address Trump’s crypto corruption or prohibit bailouts of crypto firms were shot down.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
The crypto industry’s “educational nonprofit” has also launched an initiative to fund Congressional staff positions after participants go through weeks of “training” on “emerging technologies like crypto, AI, biotech, and defense tech”.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
The industrialists who supported Hitler & Mussolini hated FDR for outlawing worthless company scrip.
https://en.wikipedia.org/wiki/Company_scrip
"Alternative" money like cryptocurrency is the worthless company scrip of the future.
Available for use in their version of the coal town company store and no where else. A tool to trap people in lifetime debt.
https://socialwelfare.library.vcu.edu/organizations/labor/company-towns-1890s-to-1935/
The SEC has dismissed with prejudice an enforcement action against the Winklevoss twins’ Gemini crypto exchange. This comes after the Winklevosses contributed $4.4 million to Trump, backed his sons’ ventures, and committed $21 million to elect pro-Trump, pro-crypto lawmakers.
To date, the SEC has paused, dismissed, or otherwise ended crypto lawsuits or investigations against Aave, Binance, Coinbase, ConsenSys, Crypto.com, Cumberland DRW, Dragonchain, Gemini (twice), Hex, Immutable, Kraken, Ondoe, OpenSea, PayPal, Ripple, Robinhood, Tron, Uniswap, Yuga Labs, and Zcash.
#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter
![The crypto industry’s “educational nonprofit”, the American Innovation Project [I91, 98], has launched a program to fund Congressional staff positions on the House Financial Services and Agriculture Committees — committees responsible for crypto oversight — after they go through weeks of “training” on “emerging technologies like crypto, AI, biotech, and defense tech”. The program will target young, [begin strikethrough] impressionable [end strikethrough] eager to learn college graduates.](https://media.hachyderm.io/media_attachments/files/115/980/739/667/641/833/original/aa6701f9d367b1b3.png)
![The answer, of course, is that they never actually cared about these principles at all. Anyone who believed they did was dangerously naive. These were marketing slogans and talking points, deployed when convenient to ward off regulation and burnish crypto’s reputation, discarded the moment they might conflict with business interests. The atrocities of Trump’s regime have clearly done nothing to lose crypto’s support: Coinbase, Ripple, and Andreessen Horowitz have each contributed another roughly $25 million apiece to the political machine that installed Trump and bought Congress.9 Gemini’s Winklevoss twins and Kraken have contributed at least $22 million and $2 million, respectively, to new pro-crypto super PACs and dark money groups that are even more explicitly Trump-aligned [I91, 93].a](https://media.hachyderm.io/media_attachments/files/115/980/731/420/569/843/original/61dfec562a792a82.png)
![SEC
The SEC has dismissed with prejudice its case against the Winklevoss twins’ Gemini cryptocurrency exchange. Filed in January 2023, the agency alleged that the company had violated securities laws with its Earn program, in which Gemini partnered with the Genesis crypto lender to offer Gemini customers up to 7.4% APY on assets they loaned through Genesis. When Genesis suffered major losses on loans to Three Arrows Capital [W3IGG] and Babel Finance [W3IGG], the company went under, and around $900 million in Gemini customers’ assets were suddenly locked up in bankruptcy proceedings [I17, 18, 42]. Now, the SEC has evidently decided no harm, no foul, stating: “The 100 percent in-kind return of Gemini Earn investors’ crypto assets through the Genesis Bankruptcy and the settlements noted above, and in the exercise of its discretion, the Commission believes the dismissal of the claims against Defendant is appropriate.”26](https://media.hachyderm.io/media_attachments/files/115/980/741/060/144/757/original/3766b7e443e551f9.png)
![While “but we gave the money back” isn’t normally a successful defense (just ask Sam Bankman-Fried), contributing around $4.4 million to Trump’s campaign,27 donating an undisclosed amount to Trump’s ballroom project,28 spending $1 million to be among the first members of the Trump family-run Executive Branch club,29 investing in Donald Trump Jr.’s American Bitcoin venture,30 and committing $22 million to political projects backing pro-Trump crypto advocates in the midterms seems to have gone a long way. The SEC case was paused back in April [I81], and, as I wrote then, “it’s widely understood that these [pauses] mark the end of SEC scrutiny for these companies.” Two months later, as the Winklevoss twins stood behind Trump in the Oval Office as he signed the GENIUS Act stablecoin bill, Trump remarked about the crypto industry: “I got you guys out of so much trouble”. Thanking the Winklevosses specifically, he added: “They’ve got plenty of cash, and it’s great that you’re on our side.” [I89]](https://media.hachyderm.io/media_attachments/files/115/980/743/593/883/124/original/a991b0955a5b44b5.png)
![The dismissal of the Gemini Earn enforcement action adds to a long list of crypto-focused cases and investigations that the SEC has paused, dismissed, or otherwise ended. That list also includes: Aave [I99], Binance [I85], Coinbase [I78], ConsenSys [I78], Crypto.com [I81], Cumberland DRW [I79], Dragonchain,31 Gemini (a separate investigation) [I78], Hex [I82], Immutable [I80], Kraken [I79], Ondo Finance [I98], OpenSea [I78], PayPal [I83], Ripple [I80], Robinhood [I78], Tron [I78], Uniswap [I78], Yuga Labs [I79], and the ZCash Foundation [I99].](https://media.hachyderm.io/media_attachments/files/115/980/744/467/963/330/original/1dd8f4c922ef8249.png)