pospi
pospi boosted
⚯ Michel de Cryptadamus ⚯
@cryptadamist@universeodon.com  ·  activity timestamp yesterday

"Britain’s drug gangs and Moscow’s hackers were just two nodes in a vast criminal super-network [that] included sanctioned oligarchs, Russian intelligence operatives and an Irish crime family."

(and of course that network also now includes the #Trump administration, because Howard Lutnick is/was Tether's money manager)

* #TheEconomist: https://www.economist.com/1843/2025/07/04/how-tether-became-money-launderers-dream-currency
* no paywall: https://archive.ph/NiCRD

#moneylaundering #crime#corruption #crypto #cryptocurrency #iran #russia #uspol#howardLutnick #economist #economics #finance #uk #ukpol #garantex #threatintel #ransomware #cybersecurity #vladimirputin #oligarchs #putin #ukraine #kinahans #kinahan
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp yesterday

The team behind Trump's World Liberty Financial project has proposed lifting restrictions on the WLFI "governance token" to make it tradeable. I predicted shortly after its launch that if Trump succeeded in gutting the SEC, he would do this.

This would lift the substantial restrictions on the token (non-US or accredited investors only, locked tokens with no secondary sales) that were aimed at sidestepping attention from the previous SEC, and could be enormously lucrative for Trump.

#crypto #cryptocurrency#USpol#USpolitics

Why Now? Over the last year, WLFI has made significant progress across product development, ecosystem partnerships, and brand awareness. With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable and initiate this next chapter in our collective journey. ⸻ Governance & Community Role Following the vote to make the token tradable, WLFI’s governance framework will enable more token holders to participate directly in protocol decisions. This includes voting on emissions, ecosystem incentives, and future treasury actions. This proposal is the first step in handing greater influence to the community. ⸻ Next Steps (If Approved) • Execute and enable transferability • Initiate distribution for eligible early supporters • Begin community governance with a second vote on remaining unlocks • Continue ecosystem expansion and partner integrations ⸻ Voting Options • YES: Proceed with WLFI tradability • NO: Maintain current token non-transferability and closed network status ⸻ Final Note This is a defining moment for World Liberty Financial. The foundation has been laid, the community is growing, and we’re ready to move forward. Launching WLFI as a tradable token brings us one step closer to building a more open, transparent, and powerful financial system. Let’s build it together. — The WLFI Team
Why Now? Over the last year, WLFI has made significant progress across product development, ecosystem partnerships, and brand awareness. With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable and initiate this next chapter in our collective journey. ⸻ Governance & Community Role Following the vote to make the token tradable, WLFI’s governance framework will enable more token holders to participate directly in protocol decisions. This includes voting on emissions, ecosystem incentives, and future treasury actions. This proposal is the first step in handing greater influence to the community. ⸻ Next Steps (If Approved) • Execute and enable transferability • Initiate distribution for eligible early supporters • Begin community governance with a second vote on remaining unlocks • Continue ecosystem expansion and partner integrations ⸻ Voting Options • YES: Proceed with WLFI tradability • NO: Maintain current token non-transferability and closed network status ⸻ Final Note This is a defining moment for World Liberty Financial. The foundation has been laid, the community is growing, and we’re ready to move forward. Launching WLFI as a tradable token brings us one step closer to building a more open, transparent, and powerful financial system. Let’s build it together. — The WLFI Team
Why Now? Over the last year, WLFI has made significant progress across product development, ecosystem partnerships, and brand awareness. With strong demand from community members and partners, many community members have said that the timing is right to make WLFI tradable and initiate this next chapter in our collective journey. ⸻ Governance & Community Role Following the vote to make the token tradable, WLFI’s governance framework will enable more token holders to participate directly in protocol decisions. This includes voting on emissions, ecosystem incentives, and future treasury actions. This proposal is the first step in handing greater influence to the community. ⸻ Next Steps (If Approved) • Execute and enable transferability • Initiate distribution for eligible early supporters • Begin community governance with a second vote on remaining unlocks • Continue ecosystem expansion and partner integrations ⸻ Voting Options • YES: Proceed with WLFI tradability • NO: Maintain current token non-transferability and closed network status ⸻ Final Note This is a defining moment for World Liberty Financial. The foundation has been laid, the community is growing, and we’re ready to move forward. Launching WLFI as a tradable token brings us one step closer to building a more open, transparent, and powerful financial system. Let’s build it together. — The WLFI Team
Proposal: Make $WLFI Token Tradable General Jul 4 1m WLFI_Team 1d Summary This proposal is presented to solicit community input and formally initiate the tradability of the token. This would mark a major milestone in the development of the World Liberty Financial ecosystem and opens the door for broader community participation, access, and protocol development. ⸻ Proposal Objectives • Make $WLFI transferable, thereby enabling broader community access to governance participation, whether through peer to peer transactions or secondary markets • Transition the WLFI ecosystem from closed to open participation • Enable greater token utility access • Begin the next phase of community ownership and engagement • Align long-term token incentives with protocol adoption and success ⸻ Early Supporter Unlocking • A portion of WLFI supply was sold to early supporters • A portion of these tokens will be eligible to be unlocked upon launch of tradability • The remainder of the tokens will be subject to a second vote by the community to determine the unlock and release schedule • Founders, team, and advisor tokens will not be unlocked initially and will be subject to a longer unlock schedule than early supporters to demonstrate long-term commitment and alignment with the success of the protocol • Timing and any eligibility requirements for unlock to be determined subsequently.
Proposal: Make $WLFI Token Tradable General Jul 4 1m WLFI_Team 1d Summary This proposal is presented to solicit community input and formally initiate the tradability of the token. This would mark a major milestone in the development of the World Liberty Financial ecosystem and opens the door for broader community participation, access, and protocol development. ⸻ Proposal Objectives • Make $WLFI transferable, thereby enabling broader community access to governance participation, whether through peer to peer transactions or secondary markets • Transition the WLFI ecosystem from closed to open participation • Enable greater token utility access • Begin the next phase of community ownership and engagement • Align long-term token incentives with protocol adoption and success ⸻ Early Supporter Unlocking • A portion of WLFI supply was sold to early supporters • A portion of these tokens will be eligible to be unlocked upon launch of tradability • The remainder of the tokens will be subject to a second vote by the community to determine the unlock and release schedule • Founders, team, and advisor tokens will not be unlocked initially and will be subject to a longer unlock schedule than early supporters to demonstrate long-term commitment and alignment with the success of the protocol • Timing and any eligibility requirements for unlock to be determined subsequently.
Proposal: Make $WLFI Token Tradable General Jul 4 1m WLFI_Team 1d Summary This proposal is presented to solicit community input and formally initiate the tradability of the token. This would mark a major milestone in the development of the World Liberty Financial ecosystem and opens the door for broader community participation, access, and protocol development. ⸻ Proposal Objectives • Make $WLFI transferable, thereby enabling broader community access to governance participation, whether through peer to peer transactions or secondary markets • Transition the WLFI ecosystem from closed to open participation • Enable greater token utility access • Begin the next phase of community ownership and engagement • Align long-term token incentives with protocol adoption and success ⸻ Early Supporter Unlocking • A portion of WLFI supply was sold to early supporters • A portion of these tokens will be eligible to be unlocked upon launch of tradability • The remainder of the tokens will be subject to a second vote by the community to determine the unlock and release schedule • Founders, team, and advisor tokens will not be unlocked initially and will be subject to a longer unlock schedule than early supporters to demonstrate long-term commitment and alignment with the success of the protocol • Timing and any eligibility requirements for unlock to be determined subsequently.
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp yesterday

It could also be enormously lucrative for early buyers like Justin Sun or the Emirati Aqua 1 Foundation, who hold $75 million and $100 million worth of WLFI, respectively.

Prior to the Trump administration, a token like this would likely have been considered an unregistered security by the SEC, and its sales illegal offerings.

Mike Olson
Mike Olson boosted
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

A reporter tried asking Trump directly if he might divest from his crypto businesses, and Trump repeated “I’m president” and rambled about China. So... that’s a no, I guess

#crypto #cryptocurrency#USpolitics#USpol

Well it’s a very funny thing, crypto, so. I became a fan of crypto, and to me it’s an industry— I view it as an industry. And I’m president. And if we didn’t have it, China would, or somebody else would, but most likely China, China would love to. And we’ve dominated that industry. It’s a big industry, by the way. In fact, when the stock market went down recently, crypto and bitcoin and all of that went down much less than anybody else as a group. Uh, and we’ve created a very powerful industry, and that’s much more important than anything that we invest in. We— we invest in it, but really that was an industry that wasn’t doing particularly well. I got involved with it a couple of years ago and, uh, before this whole— before the second term. I— I got involved before I decided to run. I only decided to run because I saw what was happening and Biden was incompetent and the administration was crooked and incompetent, and I was in bitcoin then. Not— not knowing if I was going to do it a third time. So uh, it’s become amazing. I mean it’s— the jobs that it produces, and I notice more and more you pay in bitcoin, I mean people are say— it takes a lot of, uh, pressure off the dollar and it’s a great thing for our country, so I— I don’t care, I don’t care about investing. You know, I have my— my— I have kids, and they invest in different things, they do believe in it, but I’m president. And what I did do there is build an industry that’s very important. And you know, if we didn’t have
Well it’s a very funny thing, crypto, so. I became a fan of crypto, and to me it’s an industry— I view it as an industry. And I’m president. And if we didn’t have it, China would, or somebody else would, but most likely China, China would love to. And we’ve dominated that industry. It’s a big industry, by the way. In fact, when the stock market went down recently, crypto and bitcoin and all of that went down much less than anybody else as a group. Uh, and we’ve created a very powerful industry, and that’s much more important than anything that we invest in. We— we invest in it, but really that was an industry that wasn’t doing particularly well. I got involved with it a couple of years ago and, uh, before this whole— before the second term. I— I got involved before I decided to run. I only decided to run because I saw what was happening and Biden was incompetent and the administration was crooked and incompetent, and I was in bitcoin then. Not— not knowing if I was going to do it a third time. So uh, it’s become amazing. I mean it’s— the jobs that it produces, and I notice more and more you pay in bitcoin, I mean people are say— it takes a lot of, uh, pressure off the dollar and it’s a great thing for our country, so I— I don’t care, I don’t care about investing. You know, I have my— my— I have kids, and they invest in different things, they do believe in it, but I’m president. And what I did do there is build an industry that’s very important. And you know, if we didn’t have
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

Crypto super PACs spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Rep. Gerry Connolly. While Connolly was a staunch crypto skeptic, Walkinshaw’s promise to “embrace the next generation of technology” earned him the support of the crypto lobby.

#crypto #cryptocurrency#USpolitics#USpol

In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
jbz
jbz boosted
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

Jupiter is the latest crypto project to reveal itself as decentralized in name only, “pausing” DAO votes over a “breakdown in trust” stemming from... Jupiter employees swinging DAO votes.

#crypto #cryptocurrency

Decentralized in name only The Solana DEX Jupiter was supposedly a decentralized project because it was governed by a DAO, where community members exercised control over the future of the project by voting on various proposals. That is... until a member of the Jupiter team announced that the company would be suspending DAO voting due to a “breakdown in trust” — ironically, stemming from concerns by DAO members that project team members were exercising too much control over DAO votes by using their massive token allocations to swing vote outcomes. I guess “decentralization” only worked for Jupiter as long as the community voted how the company wanted it to.3839
Decentralized in name only The Solana DEX Jupiter was supposedly a decentralized project because it was governed by a DAO, where community members exercised control over the future of the project by voting on various proposals. That is... until a member of the Jupiter team announced that the company would be suspending DAO voting due to a “breakdown in trust” — ironically, stemming from concerns by DAO members that project team members were exercising too much control over DAO votes by using their massive token allocations to swing vote outcomes. I guess “decentralization” only worked for Jupiter as long as the community voted how the company wanted it to.3839
Decentralized in name only The Solana DEX Jupiter was supposedly a decentralized project because it was governed by a DAO, where community members exercised control over the future of the project by voting on various proposals. That is... until a member of the Jupiter team announced that the company would be suspending DAO voting due to a “breakdown in trust” — ironically, stemming from concerns by DAO members that project team members were exercising too much control over DAO votes by using their massive token allocations to swing vote outcomes. I guess “decentralization” only worked for Jupiter as long as the community voted how the company wanted it to.3839
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

I’m watching closely to see if crypto money will enter the NYC mayoral race, where crypto (and other) billionaires have been reacting with horror at Mamdani’s win.

#crypto #cryptocurrency#USpolitics#USpol

While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

Polymarket is facing even more allegations that large bettors are manipulating the outcomes of its dispute resolution system to resolve contentious disputes in their favor, this time over whether President Zelenskyy’s outfit at a NATO summit was a “suit” or not.

#crypto #cryptocurrency

Polymarket Crypto betting platform Polymarket is facing renewed allegations of outcome manipulation, again involving Ukraine. When the outcomes of a bet on the Polymarket platform are challenged, the dispute is resolved through a platform called the UMA Protocol, where holders of the UMA token are expected to act as “impartial arbiter[s] of the outcomes of relevant markets”. However, in the past, large holders of the UMA token have swung the outcome of votes, such as in March when one UMA whale manipulated the outcome of a betting market over whether Ukraine would agree to Trump’s mineral deal. At the time, Polymarket stated “This market resolved against the expectations of our users and our clarification ... This is an unprecedented situation, and we have been in war rooms all day internally and with the UMA team to make sure this won’t happen again. This is not a part of the future we want to build.” [I80] Despite those promises, it sure seems to be happening again, this time in a $14 million betting market over — yes, really — whether Ukrainian President Zelenskyy would wear a suit. When the president, known for almost exclusively wearing military fatigues, appeared at a NATO summit in Germany wearing a jacket and pants that looked at least suit-like, media outlets including the BBC and even one of Polymarket’s own Twitter accounts noted that he’d finally donned a suit. However, the resolution of the market to “yes” was challenged, punting the decision to UMA,
Polymarket Crypto betting platform Polymarket is facing renewed allegations of outcome manipulation, again involving Ukraine. When the outcomes of a bet on the Polymarket platform are challenged, the dispute is resolved through a platform called the UMA Protocol, where holders of the UMA token are expected to act as “impartial arbiter[s] of the outcomes of relevant markets”. However, in the past, large holders of the UMA token have swung the outcome of votes, such as in March when one UMA whale manipulated the outcome of a betting market over whether Ukraine would agree to Trump’s mineral deal. At the time, Polymarket stated “This market resolved against the expectations of our users and our clarification ... This is an unprecedented situation, and we have been in war rooms all day internally and with the UMA team to make sure this won’t happen again. This is not a part of the future we want to build.” [I80] Despite those promises, it sure seems to be happening again, this time in a $14 million betting market over — yes, really — whether Ukrainian President Zelenskyy would wear a suit. When the president, known for almost exclusively wearing military fatigues, appeared at a NATO summit in Germany wearing a jacket and pants that looked at least suit-like, media outlets including the BBC and even one of Polymarket’s own Twitter accounts noted that he’d finally donned a suit. However, the resolution of the market to “yes” was challenged, punting the decision to UMA,
Polymarket Crypto betting platform Polymarket is facing renewed allegations of outcome manipulation, again involving Ukraine. When the outcomes of a bet on the Polymarket platform are challenged, the dispute is resolved through a platform called the UMA Protocol, where holders of the UMA token are expected to act as “impartial arbiter[s] of the outcomes of relevant markets”. However, in the past, large holders of the UMA token have swung the outcome of votes, such as in March when one UMA whale manipulated the outcome of a betting market over whether Ukraine would agree to Trump’s mineral deal. At the time, Polymarket stated “This market resolved against the expectations of our users and our clarification ... This is an unprecedented situation, and we have been in war rooms all day internally and with the UMA team to make sure this won’t happen again. This is not a part of the future we want to build.” [I80] Despite those promises, it sure seems to be happening again, this time in a $14 million betting market over — yes, really — whether Ukrainian President Zelenskyy would wear a suit. When the president, known for almost exclusively wearing military fatigues, appeared at a NATO summit in Germany wearing a jacket and pants that looked at least suit-like, media outlets including the BBC and even one of Polymarket’s own Twitter accounts noted that he’d finally donned a suit. However, the resolution of the market to “yes” was challenged, punting the decision to UMA,
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

Crypto super PACs spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Rep. Gerry Connolly. While Connolly was a staunch crypto skeptic, Walkinshaw’s promise to “embrace the next generation of technology” earned him the support of the crypto lobby.

#crypto #cryptocurrency#USpolitics#USpol

In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
In elections and political influence Crypto super PACs have just spent $1 million to back Democrat James Walkinshaw in the Virginia special election to replace Representative Gerry Connolly, the former Ranking Member of the House Oversight Committee who died in May.18 Walkinshaw, a longtime chief of staff for Connolly, won the “firehouse primary” with about 60% of the vote.19 Connolly had been a staunch opponent of crypto, recently opposing Trump’s efforts to establish a strategic crypto reserve and blasting Trump’s memecoin as “open corruption”.2021 Walkinshaw, on the other hand, writes on his website that “we must embrace the next generation of technology”, including blockchain.22
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

I’m watching closely to see if crypto money will enter the NYC mayoral race, where crypto (and other) billionaires have been reacting with horror at Mamdani’s win.

#crypto #cryptocurrency#USpolitics#USpol

While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
While Mamdani has not expressed an opinion on crypto, his upcoming opponents have. Incumbent mayor Eric Adams, elected as a Democrat but running for re-election as an Independent, recently appeared at the Bitcoin Conference to reinforce his title of “bitcoin mayor” and suggest that New York City issue bitcoin-backed municipal bonds (an idea that was quickly swatted down by NYC Comptroller Brad Lander, who was also a candidate in the Democratic primary, coming in third place after cross-endorsing Mamdani) [I85]. Mamdani’s closest opponent in the primary who will now also be running as an Independent candidate in the general election, former New York governor and alleged sex pest Andrew Cuomo, advised crypto exchange OKX after resigning as governor in 2021, when the company faced criminal charges that would ultimately land them more than $500 million in penalties.2425 And the Republican contender, perennial candidate Curtis Sliwa, tweeted during his 2021 campaign that he would “make NYC the most cryptocurrency-friendly city in the nation” by allowing property taxes to be paid in crypto, installing more crypto ATMs, and encouraging businesses to accept crypto.26 (That said, he also later criticized Adams for spending too much time with “crypto profiteers”, “crypto currency pirates”, and “crypto monsters”.2728) Tyler Winklevoss, one of the twin billionaires behind the Gemini crypto exchange who contributed millions of dollars to political campaigns in 2024, seems to be at least
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Zohran Mamdani’s win in the New York mayoral primary is already making crypto billionaires sweat, and it’s making me wonder if the crypto lobby will pile some of their cash into the city’s general election later this year. Trump “Crypto & AI Czar” David Sacks reposted a clip of Mamdani expressing his opinion that “I don’t think we should have billionaires”, tweeting: “Wake up, Silicon Valley. This is the future of the Democrat Party. Communism has defeated liberalism. Even Bill Clinton has bent the knee. You basically have two choices now: Get on board with MAGA or prepare to be on Mamdani’s dinner menu.”23
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

FHFA Director Bill Pulte has directed Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.”

#crypto #cryptocurrency#USpolitics#USpol

Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

Judge Analisa Torres has rejected the joint request by the SEC and Ripple to lift the permanent injunction and reduce Ripple’s $125 million penalty to only $50 million. Ripple has opted to walk away rather than continue their ongoing appeal.

SEC Federal Judge Analisa Torres rejected the joint request by Ripple and the SEC to lift the August 2024 permanent injunction ordering Ripple to obey securities laws and reduce the $125 million penalty to only $50 million [I63]. This outcome is no huge surprise given Torres’ previous skepticism towards a malformed request to do the same thing [I84]. Torres elaborated:16 Not that long ago, the SEC made a compelling case that the public interest weighed heavily in favor of a permanent injunction and a substantial civil penalty. ... First, a penalty was necessary because Ripple had violated the law. ... Second, the SEC pressed for a permanent injunction because Ripple’s misconduct was reckless and likely to continue. ... None of this has changed—and the parties hardly pretend that it has. Nevertheless, they now claim that it is in the public interest to cut the Civil Penalty by sixty percent and vacate the permanent injunction entered less than a year ago. Torres essentially left Ripple with two options: accept the earlier penalties and walk away, or continue fighting to have the judgment overturned on appeal. Ripple chose the latter the following day, dropping its cross appeal against the SEC. Ripple CEO Brad Garlinghouse also wrote that they still expected the SEC to drop their appeal as well, which was filed before Trump took office and which sought penalties closer to the nearly $2 billion originally requested by the agency.17
SEC Federal Judge Analisa Torres rejected the joint request by Ripple and the SEC to lift the August 2024 permanent injunction ordering Ripple to obey securities laws and reduce the $125 million penalty to only $50 million [I63]. This outcome is no huge surprise given Torres’ previous skepticism towards a malformed request to do the same thing [I84]. Torres elaborated:16 Not that long ago, the SEC made a compelling case that the public interest weighed heavily in favor of a permanent injunction and a substantial civil penalty. ... First, a penalty was necessary because Ripple had violated the law. ... Second, the SEC pressed for a permanent injunction because Ripple’s misconduct was reckless and likely to continue. ... None of this has changed—and the parties hardly pretend that it has. Nevertheless, they now claim that it is in the public interest to cut the Civil Penalty by sixty percent and vacate the permanent injunction entered less than a year ago. Torres essentially left Ripple with two options: accept the earlier penalties and walk away, or continue fighting to have the judgment overturned on appeal. Ripple chose the latter the following day, dropping its cross appeal against the SEC. Ripple CEO Brad Garlinghouse also wrote that they still expected the SEC to drop their appeal as well, which was filed before Trump took office and which sought penalties closer to the nearly $2 billion originally requested by the agency.17
SEC Federal Judge Analisa Torres rejected the joint request by Ripple and the SEC to lift the August 2024 permanent injunction ordering Ripple to obey securities laws and reduce the $125 million penalty to only $50 million [I63]. This outcome is no huge surprise given Torres’ previous skepticism towards a malformed request to do the same thing [I84]. Torres elaborated:16 Not that long ago, the SEC made a compelling case that the public interest weighed heavily in favor of a permanent injunction and a substantial civil penalty. ... First, a penalty was necessary because Ripple had violated the law. ... Second, the SEC pressed for a permanent injunction because Ripple’s misconduct was reckless and likely to continue. ... None of this has changed—and the parties hardly pretend that it has. Nevertheless, they now claim that it is in the public interest to cut the Civil Penalty by sixty percent and vacate the permanent injunction entered less than a year ago. Torres essentially left Ripple with two options: accept the earlier penalties and walk away, or continue fighting to have the judgment overturned on appeal. Ripple chose the latter the following day, dropping its cross appeal against the SEC. Ripple CEO Brad Garlinghouse also wrote that they still expected the SEC to drop their appeal as well, which was filed before Trump took office and which sought penalties closer to the nearly $2 billion originally requested by the agency.17
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

A reporter tried asking Trump directly if he might divest from his crypto businesses, and Trump repeated “I’m president” and rambled about China. So... that’s a no, I guess

#crypto #cryptocurrency#USpolitics#USpol

Well it’s a very funny thing, crypto, so. I became a fan of crypto, and to me it’s an industry— I view it as an industry. And I’m president. And if we didn’t have it, China would, or somebody else would, but most likely China, China would love to. And we’ve dominated that industry. It’s a big industry, by the way. In fact, when the stock market went down recently, crypto and bitcoin and all of that went down much less than anybody else as a group. Uh, and we’ve created a very powerful industry, and that’s much more important than anything that we invest in. We— we invest in it, but really that was an industry that wasn’t doing particularly well. I got involved with it a couple of years ago and, uh, before this whole— before the second term. I— I got involved before I decided to run. I only decided to run because I saw what was happening and Biden was incompetent and the administration was crooked and incompetent, and I was in bitcoin then. Not— not knowing if I was going to do it a third time. So uh, it’s become amazing. I mean it’s— the jobs that it produces, and I notice more and more you pay in bitcoin, I mean people are say— it takes a lot of, uh, pressure off the dollar and it’s a great thing for our country, so I— I don’t care, I don’t care about investing. You know, I have my— my— I have kids, and they invest in different things, they do believe in it, but I’m president. And what I did do there is build an industry that’s very important. And you know, if we didn’t have
Well it’s a very funny thing, crypto, so. I became a fan of crypto, and to me it’s an industry— I view it as an industry. And I’m president. And if we didn’t have it, China would, or somebody else would, but most likely China, China would love to. And we’ve dominated that industry. It’s a big industry, by the way. In fact, when the stock market went down recently, crypto and bitcoin and all of that went down much less than anybody else as a group. Uh, and we’ve created a very powerful industry, and that’s much more important than anything that we invest in. We— we invest in it, but really that was an industry that wasn’t doing particularly well. I got involved with it a couple of years ago and, uh, before this whole— before the second term. I— I got involved before I decided to run. I only decided to run because I saw what was happening and Biden was incompetent and the administration was crooked and incompetent, and I was in bitcoin then. Not— not knowing if I was going to do it a third time. So uh, it’s become amazing. I mean it’s— the jobs that it produces, and I notice more and more you pay in bitcoin, I mean people are say— it takes a lot of, uh, pressure off the dollar and it’s a great thing for our country, so I— I don’t care, I don’t care about investing. You know, I have my— my— I have kids, and they invest in different things, they do believe in it, but I’m president. And what I did do there is build an industry that’s very important. And you know, if we didn’t have
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

FHFA Director Bill Pulte has directed Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.”

#crypto #cryptocurrency#USpolitics#USpol

Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Now, bitcoin and other cryptoassets are increasingly threatening to themselves introduce new instability. Some other companies have also gone beyond just considering crypto holdings as reserve assets when determining mortgage suitability, as is indicated by this memo, with Coinbase recommending people use their crypto borrowing program to borrow money to pay their mortgages,11 and other crypto companies such as Milo offering high-interest mortgages with crypto collateral. Milo has also expressed interest in securitizing their crypto loans in the future, because when have securities backed by high-risk mortgages ever gone wrong in the past?12
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Though any move in this direction is still in its early stages, the tweet is another attempt by the Trump administration to integrate crypto into one of the most central parts of the American economy, and one where instability has particular potential to inflict massive consequences on everyday people. Many interpret Satoshi Nakamoto’s invention of bitcoin as a direct response to the 2008 financial crisis, and his inscription of the headline “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks” into the bitcoin blockchain’s genesis block as a signal of his anger at government intervention and the failures of big banks.
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
Tweet by Bill Pulte: After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
On June 25, Federal Housing Finance Agency Director Bill Pultea published a memo directing Fannie Mae and Freddie Mac to “prepare a proposal for consideration of cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments.” The memo, Pulte said, came after he did some “significant studying”, and was aimed at satisfying Trump’s “vision to make the United States the crypto capital of the world.”9 Despite the official letterhead and Pulte ending his tweet with the Trumpian pseudo-judicial all-caps sign-off of “SO ORDERED”, as of five days after the post, Pulte’s directive does not actually appear on the FHFA’s list of official orders and may have solely been issued via Twitter.10 As the directive currently only orders the two companies to prepare a proposal, details on what this would ultimately look like are somewhat scarce. However, Pulte noted that any proposal should not require the cryptoassets to first be converted to dollars, and that only assets “that can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” should be considered. The latter is a somewhat controversial caveat for the “not your keys, not your coins” segment of the crypto populace, who view storing crypto on a centralized exchange as an unacceptable dereliction of control to the types of intermediaries crypto was supposed to make obsolete.
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

For all Trump likes to talk about “America First” crypto, his businesses are looking very UAE-first. Trump’s World Liberty Financial has just secured a $100 million investment from the UAE-based Aqua 1 Foundation, which has leapfrogged Justin Sun in Trump’s pay-for-access leaderboard.

#crypto #cryptocurrency#USpolitics#USpol

Trump business interests Aqua 1 Foundation, a United Arab Emirates-based crypto fund, has spent $100 million to acquire WLFI tokens, the token issued by the Trump family’s World Liberty Financial Project, and cultivate a close relationship with the Trumps. They have just surpassed shady crypto billionaire Justin Sun and his $75 million investment to become the single largest holder of WLFI tokens.1 World Liberty also profited massively last month from a deal in which Emirati investment firm MGX used the company’s USD1 stablecoin to perform a $2 billion investment into Binance [I83]. In a press release, Aqua 1 claimed that they and World Liberty would work closely to “jointly identify and nurture high-potential blockchain projects”, and said that World Liberty “plans to support the launch of Aqua 1’s Aqua Fund — a UAE-domiciled investment fund ... dedicated to accelerating the Middle East’s digital economy transformation”.2 For all Trump likes to talk about “America First” crypto projects, his businesses are looking very UAE-first. World Liberty also just announced a partnership with London-based Re7 Capital, a decentralized hedge fund backed by the Hong Kong multi-family office VMS Group. The partnership aims to increase USD1 uptake on BNB Chain, the blockchain run by Binance.3 Connections between Binance and Trump have already been controversial, with Democratic Senators Warren, Durbin, and Blumenthal writing a May letter requesting information on Trump’s connections to
Trump business interests Aqua 1 Foundation, a United Arab Emirates-based crypto fund, has spent $100 million to acquire WLFI tokens, the token issued by the Trump family’s World Liberty Financial Project, and cultivate a close relationship with the Trumps. They have just surpassed shady crypto billionaire Justin Sun and his $75 million investment to become the single largest holder of WLFI tokens.1 World Liberty also profited massively last month from a deal in which Emirati investment firm MGX used the company’s USD1 stablecoin to perform a $2 billion investment into Binance [I83]. In a press release, Aqua 1 claimed that they and World Liberty would work closely to “jointly identify and nurture high-potential blockchain projects”, and said that World Liberty “plans to support the launch of Aqua 1’s Aqua Fund — a UAE-domiciled investment fund ... dedicated to accelerating the Middle East’s digital economy transformation”.2 For all Trump likes to talk about “America First” crypto projects, his businesses are looking very UAE-first. World Liberty also just announced a partnership with London-based Re7 Capital, a decentralized hedge fund backed by the Hong Kong multi-family office VMS Group. The partnership aims to increase USD1 uptake on BNB Chain, the blockchain run by Binance.3 Connections between Binance and Trump have already been controversial, with Democratic Senators Warren, Durbin, and Blumenthal writing a May letter requesting information on Trump’s connections to
Trump business interests Aqua 1 Foundation, a United Arab Emirates-based crypto fund, has spent $100 million to acquire WLFI tokens, the token issued by the Trump family’s World Liberty Financial Project, and cultivate a close relationship with the Trumps. They have just surpassed shady crypto billionaire Justin Sun and his $75 million investment to become the single largest holder of WLFI tokens.1 World Liberty also profited massively last month from a deal in which Emirati investment firm MGX used the company’s USD1 stablecoin to perform a $2 billion investment into Binance [I83]. In a press release, Aqua 1 claimed that they and World Liberty would work closely to “jointly identify and nurture high-potential blockchain projects”, and said that World Liberty “plans to support the launch of Aqua 1’s Aqua Fund — a UAE-domiciled investment fund ... dedicated to accelerating the Middle East’s digital economy transformation”.2 For all Trump likes to talk about “America First” crypto projects, his businesses are looking very UAE-first. World Liberty also just announced a partnership with London-based Re7 Capital, a decentralized hedge fund backed by the Hong Kong multi-family office VMS Group. The partnership aims to increase USD1 uptake on BNB Chain, the blockchain run by Binance.3 Connections between Binance and Trump have already been controversial, with Democratic Senators Warren, Durbin, and Blumenthal writing a May letter requesting information on Trump’s connections to
Molly White
@molly0xfff@hachyderm.io  ·  activity timestamp 5 days ago

There’s been some reporting that Trump is pulling away from his crypto projects, but this isn’t supported by financial disclosures published on June 13.

#crypto #cryptocurrency#USpolitics#USpol

390 WLF Holdco LLC Underlying Assets: Holds the only membership interest in World Liberty Financial, Inc (a Delaware nonstock corporation). Assigned certain economic rights to non-token sale revenues under service agreements between World Liberty Financial, Inc and its founders. (value of the economic rights is not ascertainable) See line 391. Location: Miami, FL No DT Marks Defi LLC: 75% & Third Parties: 25%
390 WLF Holdco LLC Underlying Assets: Holds the only membership interest in World Liberty Financial, Inc (a Delaware nonstock corporation). Assigned certain economic rights to non-token sale revenues under service agreements between World Liberty Financial, Inc and its founders. (value of the economic rights is not ascertainable) See line 391. Location: Miami, FL No DT Marks Defi LLC: 75% & Third Parties: 25%
390 WLF Holdco LLC Underlying Assets: Holds the only membership interest in World Liberty Financial, Inc (a Delaware nonstock corporation). Assigned certain economic rights to non-token sale revenues under service agreements between World Liberty Financial, Inc and its founders. (value of the economic rights is not ascertainable) See line 391. Location: Miami, FL No DT Marks Defi LLC: 75% & Third Parties: 25%
There have been rumblings that Trump has sold some of his stake in World Liberty as Democrats in Congress have tried to hold up crypto legislation over his substantial conflicts of interest. Most of this stems from an update to the fine print on World Liberty’s website which now says that the Trump family-owned DT Marks Defi LLC owns a 40% stake in World Liberty, down from the 60% it displayed previously.5 However, information on the World Liberty Financial site has regularly been wrong, and neither number matches the 75% ownership Trump declared in his most recent financial disclosures that were only just published on June 13, 2025.6
There have been rumblings that Trump has sold some of his stake in World Liberty as Democrats in Congress have tried to hold up crypto legislation over his substantial conflicts of interest. Most of this stems from an update to the fine print on World Liberty’s website which now says that the Trump family-owned DT Marks Defi LLC owns a 40% stake in World Liberty, down from the 60% it displayed previously.5 However, information on the World Liberty Financial site has regularly been wrong, and neither number matches the 75% ownership Trump declared in his most recent financial disclosures that were only just published on June 13, 2025.6
There have been rumblings that Trump has sold some of his stake in World Liberty as Democrats in Congress have tried to hold up crypto legislation over his substantial conflicts of interest. Most of this stems from an update to the fine print on World Liberty’s website which now says that the Trump family-owned DT Marks Defi LLC owns a 40% stake in World Liberty, down from the 60% it displayed previously.5 However, information on the World Liberty Financial site has regularly been wrong, and neither number matches the 75% ownership Trump declared in his most recent financial disclosures that were only just published on June 13, 2025.6