
Sundog, a memecoin by crypto billionaire Justin Sun, just posted a meme depicting its mascot controlling the White House. Sun has spent (or will shortly spend) a total of $213 million on Trump-connected crypto projects.
h/t @cryptadamist
Sundog, a memecoin by crypto billionaire Justin Sun, just posted a meme depicting its mascot controlling the White House. Sun has spent (or will shortly spend) a total of $213 million on Trump-connected crypto projects.
h/t @cryptadamist
The Genius Act, the one bill of the three that is now law, claims to provide oversight to stablecoin markets. It mostly serves to legitimize stablecoins — Trump’s among them — and has little in the way of consumer protections.
The DOJ and CFTC have shut down their investigations into whether crypto-denominated betting platform Polymarket has been allowing US bettors, even though it’s common knowledge that Americans are widely using the platform despite claimed restrictions.
Also, the Ninth Circuit has overturned part of the October 2023 decision in Bored Apes creator Yuga Labs’ case against Ryder Ripps and his knock-off Bored Apes project — a decision that ultimately sought $9 million from the defendants.
Right around the time Trump signed the crypto bill, his 52%-owned TMTG company announced it had acquired $2 billion in bitcoin. This makes it the sixth largest BTC treasury company, alongside companies connected to Trump’s sons or Commerce Secretary Howard Lutnick.
The DOJ and CFTC have shut down their investigations into whether crypto-denominated betting platform Polymarket has been allowing US bettors, even though it’s common knowledge that Americans are widely using the platform despite claimed restrictions.
Trump thanked the crypto industry for their support at the Genius Act signing ceremony, remarking, “half of you were under arrest for no reason”. He later added, “I got you guys out of so much trouble”.
“They’ve got plenty of cash, and it’s great that you’re on our side.”
All three crypto bills passed after politicking from Trump and top Republicans, millions in lobbying, a six-figure ad blitz by Coinbase, and Fairshake super PAC announcement of $141 million waiting to be deployed against anyone who stands in the way of the crypto agenda.
Newsletter: Crypto bills have passed the House with “2, 3, 4 o’clock” phone calls from Trump to give “a little love” to Republican holdouts, $6.9 million in crypto lobbying, and a $141 million midterm threat. The bills feature few consumer protections and destabilizing loopholes.
Trump thanked the crypto industry for their support at the Genius Act signing ceremony, remarking, “half of you were under arrest for no reason”. He later added, “I got you guys out of so much trouble”.
“They’ve got plenty of cash, and it’s great that you’re on our side.”
Newsletter: Crypto bills have passed the House with “2, 3, 4 o’clock” phone calls from Trump to give “a little love” to Republican holdouts, $6.9 million in crypto lobbying, and a $141 million midterm threat. The bills feature few consumer protections and destabilizing loopholes.
Trump speaking to crypto executives while signing the GENIUS Act stablecoin bill: “I got you guys out of so much trouble... They’ve got plenty of cash, and it’s great that you’re on our side.”
(Note: I retained Trump’s comments about Biden to avoid taking his statement out of context, but his claim that Biden “dropped all charges” against crypto executives during his or Harris’s campaign is false.)
https://paulkrugman.substack.com/p/has-brazil-invented-the-future-of
FT: "Donald Trump is preparing to open the $9tn US retirement market to cryptocurrency investments ..."
Trump is seeking to direct Americans' retirement funds to a sector in which he and his family are heavily invested.
https://www.ft.com/content/07906211-5ab8-4917-bcad-5397c0bc3170
FT: "Donald Trump is preparing to open the $9tn US retirement market to cryptocurrency investments ..."
Trump is seeking to direct Americans' retirement funds to a sector in which he and his family are heavily invested.
https://www.ft.com/content/07906211-5ab8-4917-bcad-5397c0bc3170
OR
What gives #cryptocurrency its value
The House has passed the GENIUS Act stablecoin bill, sending it to Trump's desk where he will sign it. They've also passed the CLARITY Act crypto market structure bill and the Anti-CBDC Surveillance State Act, both of which still need to go to the Senate.
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