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#cryptocurrencies

3 posts3 participants0 posts today
Public
Miguel Afonso Caetano

"As the Trump administration continues the process of establishing a regulatory environment maximally beneficial to the cryptocurrency industry, Trump is doing the only thing you might expect of him: increasing his business interests in the crypto sector so that he too can personally profit.

His Trump Media organization, which is the business entity behind the Truth Social platform, has announced a partnership with the Singapore-based Crypto.com to launch various exchange-traded products of the both crypto and non-crypto varieties. The overseas Crypto.com is a bit of an odd choice in partner, given the press release’s emphasis that the project will have a “Made in America focus”.6

Though the details were scarce, the press release suggested the crypto ETFs would “include a unique ETF basket of cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets.” (Cronos is the token issued by Crypto.com subsidiary Cronos Labs.) All of this will happen via the “Truth.Fi” brand, a business venture announced by Trump Media in February [I76]. There has been some controversy over this deal in the crypto world, centering around a decision by Crypto.com and Cronos to fund the deal by “reissuing” tokens notionally worth $7 billion that had been burned (ostensibly permanently destroyed) in 2021.7 The proposal was unpopular among many Cronos holders, and comments on the proposal were universally negative."

citationneeded.news/issue-80/

#USA #Trump #Crypto #Cryptocurrencies #PonziSche,e

Citation Needed · Issue 80 – Aimed at benefiting the digital assets industryAs the US government lays a very favorable groundwork for the crypto industry, Trump positions himself for maximum personal profit
Public
Miguel Afonso Caetano

"According to a memo circulating among State Department staff and reviewed by WIRED, the Trump administration plans to rename the United States Agency for International Development (USAID) as US International Humanitarian Assistance (IHA), and to bring it directly under the secretary of state. The document, on which Politico first reported, states that as part of its reorganization, the agency will “leverage blockchain technology” as part of its procurement process.

“All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reads. “This approach would encourage innovation and efficiency among implementing partners and allow for more flexible and responsive programming focused on tangible impact rather than simply completing activities and inputs.”

The memo does not make clear what specifically this means—if it would encompass doing cash transfers in some kind of cryptocurrency or stablecoin, for example, or simply mean using a blockchain ledger to track aid disbursement."

#USA #USAID #Trump #Blockchain #Crypto #Cryptocurrencies #HumanitarianAid

arstechnica.com/tech-policy/20

Sign for USAID
Ars Technica · Trump administration’s blockchain plan for USAID is a real head-scratcherBy WIRED
Public
rexi

#cryptocurrency has a half-life.

it is an elevated energy state of a virtual element.

all be worthless, the only question remains when.

#cryptocurrencies' creation efforts of their past are bound in their total energy, but they also need an actual background energy field to maintain their higher state, whether sliced, shared or bundled.

their half-life, even if we could nail it down, would likely be much shorter than investors might guess, even if they get that all will fail eventually.

Public
Miguel Afonso Caetano

"By setting up a crypto reserve containing dollar-backed stablecoins, the US authorities are signalling to foreign dollar holders that the US government endorses their ownership of these cryptocurrencies. During upcoming negotiations with various governments, with tariffs dangling like the sword of Damocles above their head, the President will drop subtle hints about how pleased he will be if foreign investors buy these stablecoins using their own dollars. If they do buy them, the dollar supply will increase, the dollar exchange rate will dip, no other fiat currency will emerge as a potential suitor to the dollar’s reserve currency status, and dollar-denominated stablecoins will rise in value. As these tokens will now be worth more than a dollar, their issuer will have an incentive to issue more tokens to restore the one-to-one exchange rate with the dollar. In the process, they will buy, with proceeds from the additional tokens they issue and sell, more long-dated US Treasuries to backstop their increased token supply. Bingo! Trump’s twin strategy is fulfilled: the dollar is devalued while demand for long-term US government debt rises, thus pushing down US Treasury yields and his government’s debt servicing costs."

unherd.com/2025/03/trumps-cryp

UnHerd · Trump’s crypto time bombBy Yanis Varoufakis
#USA#Trump#Dollar
Public
Miguel Afonso Caetano

"Coinbase co-founder and CEO Brian Armstrong cheered the idea to shutter the Consumer Financial Protection Bureau.

“100% the right call,” Armstrong wrote in February. He was responding to a taunt by Elon Musk, who posted an image of a tombstone and the line “CFPB RIP.”

The agency was gutted by Donald Trump’s administration around the same time, to cheers by Armstrong and other crypto execs like Tyler Winklevoss of Gemini.

What Armstrong didn’t mention was that the CFPB had received 7,775 complaints from Coinbase customers since the exchange’s debut in 2011.

The most recent complaint to the CFPB was filed on February 22. The reports range from 1,734 complaints about issues with funds not being available when promised to 1,879 complaints about potential scams."

dlnews.com/articles/regulation

DL News · Coinbase cheers demise of CFPB as customer complaints mount to almost 8,000By Andrew Flanagan
#Crypto#CryptoCurrencies#Coinbase
Replied in thread
Public
Guy

@petergleick No matter what one may think of #cryptocurrencies or #blockchain tech. But this whole notion of 'safe' is too often misinterpreted and muddled up.

If a bank is being robbed with money stolen, it's not the US$ that's the problem. If someone scams somebody else out of money, it's not the US$ that's the problem.

Similarly, if a crypto exchange is being 'robbed' or people are being scammed, it's not the crypto asset that's the problem, but the parties playing along in the game.

Continued thread
Public
Nonilex

#Cryptocurrencies were riding high, after #Trump announced that he would create a national #crypto reserve w/ 5 tokens, including 3 lesser-known & highly volatile ones.

It’s the latest boost Trump has given the crypto industry, which spent ~$130M backing him & other #Republicans. But the news drew criticism, including from conservatives & even ardent crypto backers, over many concerns: giveaways to a #wealthy community, delegitimizing digital currency industry & more.

nytimes.com/2025/03/03/busines

The New York Times · Trump Faces Blowback Over Plans for Crypto ReserveBy Andrew Ross Sorkin
Public
Nonilex

More from the #idiocracy:

#Trump announced the names of 3 #cryptocurrencies to be included in a new US #crypto strategic reserve on Sunday, spiking the value of each in #market trading.

Trump said on social media that his January #ExecutiveOrder on #DigitalAssets would create a stockpile of currencies including XRP (#Ripple), SOL (#Solana), & ADA (#Cardano).

The assets rose 10% to 35% in trading on Sunday. Other digital assets also gained.

#economy #finance #USpol
reuters.com/world/us/trump-say

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