Stand With Crypto, a crypto and blockchain-focused political action committee (PAC), has decided to endorse 18 additional House and Senate candidates from both parties to get crypto-friendly allies to achieve positive results in the upcoming elections. Among the favored are Kirsten Gillibrand, Rick Scott, Dan Goldman, Young Kim, and House hopefuls Blake Masters and Sarah […]
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Survey: 77% Believe Presidential Candidates Should Be Informed on AI and Crypto
The Grayscale-Harris Poll survey, conducted in April-May 2024, reveals crucial insights into American likely voters’ views on cryptocurrency and its potential impact on the upcoming presidential election. The survey, involving over 2,000 adults, highlights key trends such as high interest in crypto among young, minority, male, and Democratic voters. Significant findings include 97% of likely […]
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Solana’s Jupiter Reveals Three Token Candidates For Next Launchpad
Solana-based decentralized exchange (DEX) aggregator Jupiter recently announced the possible launch of three new tokens through its launchpad. The announcement follows the launch of its JUP native token via the LFG launchpad last week.
Solana’s Community Holds The Power?
After the scheduled closing of the JUP launch pool, Jupiter Exchange and its founder took X (formerly known as Twitter) to reveal the next steps for the Solana-based project.
Jupiter: Let's Go!
Hello space catdets! Over the last few months, we built a robust community of catdets with a common vision, scaled up our infrastructure to handle many levels of volume, tested a lot of things together, and overcame a hell lot of adversity together.
And now,…
— meow
(@weremeow) February 7, 2024
As the pseudonym founder Meow stated, the LFG launchpad is Jupiter’s “initiative to grow the pie by helping great projects get the awareness, community, and users to thrive in the long term.” As a result, the founder presented three “OG” Solana projects to the community that could be part of the next launchpad.
The first candidate is Sanctum, a liquid staking service with “experience building the first SPL program used by stake pools, and liquidity sources like unstake.it.” The next project, Sharky, is an expanding NFT collateralization platform on Solana that allows “NFT holders to borrow and lend against NFTS to acquire leverage or earn yields.”
Closing the list, the cross-chain infrastructure provider deBridge is presented as a project that allows users to trade assets across chains in seconds without the need for wrapped assets or liquidity pools.
Jupiter’s founder highlighted that the community would have the final say in any project’s participation on the launchpad. Since LFG is a community initiative where Jupiter’s team “should play no role,” it’s up to the Solana users to discuss and decide if any projects are suitable for launch in the LFG platform.
Additionally, the post announced that the introduction process of the projects to the community would take part over the next two weeks through different channels, including special ones for each project and a summary on X. For the future, Jupiter’s team will provide application channels for other projects interested in participating.
Next Steps For The Project
On February 7, the project confirmed in an update that the launch pool was closing after seven days, as previously scheduled. In the process, 90 million JUP tokens were withdrawn and moved to a cold multi-sig wallet, effectively taking them out of circulation.
The project also announced that the launch pool was left with 65.5 million USDC, which would serve as a liquidity backstop for JUP.
However, the USDC will be removed over the next couple of months in million batches to allow the JUP token to regain price discovery while simultaneously “assuring all participants that the team is committed to a long-term gradual withdrawal of USDC liquidity.”
While all the JUP has been removed, we are leaving ~63.5M of USDC in the launchpool to serve as liquidity backstop for JUP. The USDC will be removed over the next 2-3 months. pic.twitter.com/2AQ7zIKwJO
— Jupiter
(@JupiterExchange) February 8, 2024
The founder’s post shared Jupiter’s intention to initiate a decentralized anonymous organization (DAO) this month and “incrementally evolve it into the most dynamic, most productive and proactive DAO in space.”
Initially, the JUP DAO would focus on evaluating and approving launchpad projects, ratifying budgets for working groups, approving grants, and releasing budgets for ongoing community and ecosystem initiatives.
The team’s update specified the steps to encourage the community’s participation and to fund it with the capital to pursue important initiatives. The steps include distributing 75% of future LFG launchpad fees to the governance participants, “100M in JUP earned from the LFG launchpad for voting incentives, and 6.15M in operational funds from JUP Launch.”
Crypto Industry Funnels $78 Million Into War Chest to Elect Pro-Crypto Candidates in 2024 Elections
Prominent crypto companies and leaders have contributed to a war chest to support pro-crypto candidates in the 2024 elections, amassing million to date. “The U.S. cannot afford to continue taking a back seat on the global stage. Regulatory overreach (esp from the SEC) is actively moving the U.S. in the wrong direction,” said Ripple’s CEO. “The crypto industry has a large war chest now to elect pro-crypto candidates in 2024,” stated the CEO of crypto exchange Coinbase.
The U.S. Cannot Afford to Continue Taking Back Seat on Global Stage
Fairshake, a federal independent expenditure-only political action committee (super PAC), announced Monday that crypto and blockchain leaders have amassed Million “for Fairshake Super PAC and its affiliates to support pro-innovation and pro-crypto leadership going into 2024 congressional elections.” Fairshake is registered with the Federal Election Commission (FEC) and supports candidates solely through its independent activities. The announcement states:
They will report million raised and in the bank in Q4 2023 to support leaders who support American crypto and blockchain innovation and responsible regulation in the forthcoming 2024 elections.
The announcement adds that supporters of Fairshake include venture capital firm Andreessen Horowitz, Ark Invest, Coinbase and its CEO Brian Armstrong, Blockchain Capital, Wences Casares, Circle, Ron Conway, Cumberland, Framework Ventures, Hunter Horsley, Jump Crypto, Kraken, Lightspark, Messari, Multicoin Capital, Paradigm, Potter Ventures, Ripple, Fred Wilson, Cameron Winklevoss, and Tyler Winklevoss.
“In order for the blockchain economy to realize its full potential, a clear regulatory and legal framework for success is needed,” Fairshake stressed.
Ripple CEO Brad Garlinghouse commented on social media platform X Monday: “Ripple is putting a stake in the ground, leading the charge with other industry leaders to support pro-innovation and pro-crypto candidates in the 2024 U.S. election cycle.” The executive opined:
The U.S. cannot afford to continue taking a back seat on the global stage. Regulatory overreach (esp from the SEC) is actively moving the U.S. in the wrong direction, and other countries are taking full advantage of the lack of U.S. leadership.
“We need to advance leaders who will champion innovation and spearhead paths towards responsible regulation. 2024 is the time to go back to first principles by encouraging initiatives to promote transparency, innovation and a compliance-first approach. Team Ripple and I won’t squander it,” he emphasized.
Coinbase CEO Brian Armstrong stated: “The crypto industry has a large war chest now to elect pro-crypto candidates in 2024. We’re proud to contribute, and give the 52m Americans who have used crypto better representation. It will be bi-partisan. And hopefully we can get it to 0m in Q1 next year.”
What do you think about the crypto industry’s war chest to elect pro-crypto candidates in upcoming elections? Let us know in the comments section below.
US Presidential Candidates Tackle Crypto Issues at Groundbreaking Forum
Highlighting the increasing significance of digital assets in American politics, several presidential candidates from the Republican and Democratic parties came together at the Crypto Presidential Forum to discuss their visions for the future of cryptocurrency in the U.S.
Crypto Takes Center Stage in Crypto Presidential Forum
In a historic event at St. Anselm College in New Hampshire, presidential candidates from both sides of the political aisle gathered on Dec. 11, 2023, for the first-ever Crypto Presidential Forum, organized by the Stand with Crypto Alliance and Coindesk. With the 2024 U.S. presidential election fast approaching, the event, which can be viewed in its entirety here, offered a unique platform for candidates to express their views on the burgeoning cryptocurrency industry and the current state of digital asset regulation in the United States.
First up was Republican candidate and former governor of Arkansas Asa Hutchinson with a clear message of support for the crypto industry, saying, “I want the crypto industry to flourish in America and that the United States will lead.” To accomplish this, he outlined four points: clarity of rules, consumer confidence, coding ability, and affordable energy.
Vivek Ramaswamy, another Republican hopeful, presented a comprehensive crypto framework centered on three core principles: the freedom to code, financial self-reliance, and protection from regulatory overreach. Criticizing the influence of unelected bureaucrats in agencies like the U.S. Securities and Exchange Commission (SEC), Ramaswamy argued that:
“The imposition of the regulatory state and its overreach on the crypto sector, isn’t about the crypto sector, it’s about an imposition of an agenda that threatens our constitutional republic itself.”
On the Democratic side, Rep. Dean Phillips of Minnesota pointed out the knowledge gap in Congress regarding blockchain technology and crypto. He stressed the importance of understanding these emerging fields to effectively legislate and regulate them. Phillips’ perspective seemed to echo a common critique leveled against people in Congress, that they are out of touch with modern challenges, especially those brought on by new technologies.
Ben Friedman, the business development manager at Bitcoin.com, attended the event and praised the candidates for addressing pressing concerns from the crypto industry. Friedman said, “Vivek Ramaswamy’s approach to integrating crypto into national strategies was impressive, and his thoughts on a regulatory framework were articulated with remarkable clarity. Dean Phillips’ perspective on embracing blockchain innovation and positioning America as a leader in Web3 highlighted the event’s forward-thinking atmosphere.”
Overall, the event revealed a consensus among the candidates on the need for clear crypto regulations and a broader understanding of blockchain technology. The event represented a positive step in bringing crypto-related topics to the forefront of political considerations, suggesting that the next administration, regardless of its political affiliation, will likely pay closer attention to the growing digital asset landscape.
Which presidential candidate do you think has the best plan for crypto? Share your thoughts and opinions about this subject in the comments section below.
Crypto Entrepreneur Pledges Match of Presidential Candidate’s Universal Basic Income Scheme
Justin Sun, the founder of the crypto asset network TRON and CEO of BitTorrent, has just announced that he intends to match a presidential candidate’s unorthodox campaign strategy. The crypto-friendly democratic candidate, Andrew Yang, has stated that he plans to use campaign funds to extend universal basic income of ,000 per month to 10 people for the next year.
In a move clearly supportive of the candidate, Sun has pledged to give ,000 of his own money to 100 people each month for the next year. The crypto entrepreneur has also offered a seat at his lunch date with legendary investor Warren Buffet.
Justin Sun Backs Pro-Crypto Candidate with UBI Match
Earlier today, The New York Times reported on democratic presidential candidate Andrew Yang’s announcement that he planned to award 10 people ,000 per month for a year. The move would be a much scaled down version of the universal basic income package he plans for US citizens should they elect him president in 2020.
The legality of Yang’s “freedom dividends” have been called into question since he plans to finance them using campaign funds. However, Yang argues that the payments are not against federal law since they would not exist if it were not for the campaign.
Crypto entrepreneur Justin Sun today pledged to match Yang’s UBI experiment by extending the monthly ,000 to another “100 ppl”. He gave scant few other details of his plans via Twitter:
Yang’s initiative to UBI k to 10 ppl per mth for 1 yr, I'll pledge UBI k to 100 ppl per mth in 2020! I'll pick 1 to attend lunch w/ me & @WarrenBuffett 2020! I'll let Yang assist me in picking the lucky 100! Join us! #YANG2020 @AndrewYang https://t.co/YQFnXwXtuf
— Justin Sun (@justinsuntron) September 13, 2019
Sun does not tell followers if they need to register interest in the competition, if it will be exclusive to US citizens, or if all entries must be a Tron holder. He also does not state if he will be paying the UBI in the crypto asset he founded, TRON.
He does, however, extend an invitation for one of the 100 recipients to join him at his lunch date with Warren Buffet. Yang will reportedly help him select who to bring along. The entrepreneur won a charity auction for the opportunity for him and a handful of others to have lunch with the legendary investor and cryptocurrency naysayer. He paid .6 million for the opportunity to turn Buffet around to his way of thinking. The lunch has already been postponed once due to apparent health concerns of Sun.
Already known to be joining Sun at the dinner is Jeremy Allaire, the CEO of Circle; eToro founder, Yoni Assia; Livio Weng, of Huobi; Charlie Lee, the founder of Litecoin; and a representative of exchange giant Binance. Each gave their agreement to attend the lunch prior to the now postponed date.
Presuming that those five names are still interested, that leaves two of the seven places yet to fill. With one going to the winner of the crypto entrepreneur’s UBI pledge competition, and President Trump looking increasingly like he snubbed his own invitation, it’s unclear who will fill out the table when the lunch is finally rescheduled.
Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I'd love to invite you to have lunch with crypto leaders along with @WarrenBuffett on July 25. I guarantee you after this lunch, nobody will know crypto more than you!
— Justin Sun (@justinsuntron) July 12, 2019
Related Reading: Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt
Featured Image from Shutterstock.
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As More Investors Flock to Crypto, Will US Presidential Candidates Start Making it a Priority?
It’s no secret that over the past several decades politics in the United States have become increasingly about appealing to voter blocks, and regardless of whether or not this is good or bad, this trend may ultimately prove to be beneficial for the crypto industry.
Because the number of cryptocurrency investors in the United States is actually quite large on a percentage basis and will likely continue growing along with the markets, it is highly likely that more and more candidates for influential public offices will begin placing cryptocurrencies on their list of priorities to address.
Crypto Advocates May Ultimately Represent a Large Voter Block
According to a study published in March of last year, 8% of Americans are currently invested in cryptocurrencies. Although it is highly likely that this number has changed in the year since the report was first published, the lack of any significant changes in the overall markets has probably led this number to remain relatively stable.
Some candidates for elected offices are already taking note of the portion of citizens who are invested in the nascent technology, and although 8% seems like a small number, gaining a voter block of that magnitude for a national election could sway the results.
Moreover, as this number grows – which it undoubtedly will, assuming that the crypto markets continue to expand – it will be critical for candidates to acknowledge these investors by presenting solutions to the regulatory problems the industry currently faces.
Presidential Candidate Andrew Yang Advocates for “Do No Harm” Crypto Regulations
Recently, Andrew Yang – a candidate running for the presidential office in the 2020 race as a Democrat – laid out his thoughts on cryptocurrencies, lambasting New York state’s BitLicense while advocating for a “do no harm” approach that allows the United States to remain on the forefront of innovation in the rapidly evolving industry.
In the post, Yang explains that the crypto market’s growth over the past several years has outpaced the government’s response, making now a critical time to begin implementing regulatory frameworks.
“Cryptocurrencies and digital assets have quickly grown to represent a large amount of value and economic activity. This quick growth, however, has outstripped the government’s response… It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated so that investment can proceed with all relevant information,” Yang explained.
Although the term “regulation” may scare some ardent cryptocurrency advocates, Yang further explained his position by describing the controversial BitLicense in New York as “onerous.”
“Some states have onerous regulations in the space, such as NY’s BitLicense. Navigating this has had a chilling effect on the US digital asset market,” he wrote.
As to how he plans to go about implementing the proposed regulatory framework, Yang explains that if he were to be elected, he would offer better definitions for what a token is and when it is a security, and would clarify the tax implications of buying, selling, and trading crypto, among other things.
All this would be done with the goal of creating “clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.”
Although Yang may currently be somewhat of a dark horse in the presidential elections, his friendliness towards cryptocurrency has already garnered him publicity and support amongst crypto investors and may spark a larger trend of other mainstream presidential candidates laying out similar frameworks to incubate growth within the crypto markets.
Featured image from Shutterstock.
The post As More Investors Flock to Crypto, Will US Presidential Candidates Start Making it a Priority? appeared first on NewsBTC.
Two Pro-Crypto Candidates Score Wins in US Midterm Gubernatorial Elections
n Two pro-cryptocurrency candidates have won seats to become governors of the U.S. states of California and Colorado in the countrys midterm gubernatorial electionsn
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California Campaign Watchdog Bans Crypto Donations to Candidates
The post California Campaign Watchdog Bans Crypto Donations to Candidates appeared first on DCEBrief.