Molly White<p>The prosecution's flailing attempts to navigate around the Blanche memo exemplify the incoherence of the Trump administration's approach to cryptocurrency enforcement: carveouts for powerful allies while continuing aggressive prosecutions to avoid appearing soft on cybercrime.</p><p><a href="https://hachyderm.io/tags/crypto" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>crypto</span></a> <a href="https://hachyderm.io/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>cryptocurrency</span></a> <a href="https://hachyderm.io/tags/USpol" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>USpol</span></a> <a href="https://hachyderm.io/tags/USpolitics" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>USpolitics</span></a></p>
#crypto
6 posts1 participant0 posts today
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Shady crypto billionaire Justin Sun is looking to pour another $100 million into Trump’s crypto projects. At least $56 million of Sun’s money has gone directly to Trump or family members; that number could nearly triple depending on details of the planned token purchase.
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During “Crypto Week”, Congress will also be considering an Anti-CBDC Surveillance State Act. While Republicans decry purely hypothetical CBDC surveillance, they celebrated crypto’s actual surveillance capabilities at the recent Senate hearing.
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Two Republicans took time at the hearing to attack legislators and witnesses for so much as mentioning the influence of the crypto lobby, or Trump’s personal crypto ventures. They don’t want people even mentioning crypto's hundreds of millions of dollars in spending on Congress.
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Experts are issuing dire warnings on bills that would allow for activity like this. Professor Richard Painter implored: “We do not want another economic collapse caused by deregulation of financial services sector. ... Please, we don't want to go through those experiences again.”
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By encasing stocks in a blockchainy wrapper, companies like Robinhood are hoping to tap into lucrative equities markets while sidestepping the expensive compliance and oversight requirements of traditional American brokerages and exchanges.
Newsletter: Crypto firms hope putting a blockchain veneer on traditional equities will allow them to sidestep lessons learned in the 1929 Wall Street crash, crypto firms look to become banks, and Congress celebrates crypto surveillance while claiming to outlaw it
Citation Needed · Issue 88 – The stockchainCrypto firms hope putting a blockchain veneer on traditional equities will allow them to sidestep lessons learned in the 1929 Wall Street crash, crypto firms look to become banks, and Congress celebrates crypto surveillance while claiming to outlaw it
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Official announcement has come out from Magic Eden. No promotion yet from Trump’s end.
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UPDATE: Since I published, the waitlist website has added a segment reading “Magic Eden partnered with GetTrumpMemes.com to create the first and only $TRUMP Wallet”. This suggests it is indeed Fight Fight Fight LLC (Bill Zanker) behind it.
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Magic Eden and spokespeople for President Trump did not immediately respond to inquiries about the project.
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The deal raises additional regulatory questions, especially as decentralized finance apps are being explicitly carved out from regulatory oversight by Trump-championed crypto bills being considered in Congress as we speak.
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Magic Eden and Trump have some history prior to this deal, with several executives attending his memecoin dinner in late May, and a partnership pertaining to Trump NFTs last year.