Brian Morgenstern of Riot Platforms shared his insights on the 2024 election’s impact on bitcoin and the crypto industry, praising former U.S. President Donald Trump’s pro-bitcoin stance and criticizing President Joe Biden’s regulatory measures. Trump promised to protect bitcoin from regulatory threats, oppose a central bank digital currency (CBDC), and support the cryptocurrency industry, aligning […]
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Donald Trump Vows to Be the ‘Crypto President’ — Pledges to End Biden-Gensler Crypto Policies Within One Hour
Former U.S. President and presidential candidate Donald Trump has pledged to become “the crypto president” if re-elected. He vowed to terminate the anti-crypto policies introduced by Joe Biden and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, emphasizing that their policies “will grind to a halt within one hour of a second Trump administration.” […]
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CEO Drops Bombshell: Trump Campaign Eyes Crypto-Friendly Policies
The intersection of cryptocurrency and politics has taken center stage as the potential return to power of former President Donald Trump emerges with a crypto-friendly agenda. The revelation comes from none other than David Bailey, CEO of Bitcoin Magazine, who disclosed his involvement in advising Trump’s campaign to adopt policies favorable to the crypto industry.
Bailey’s Bombshell: Advising Trump For A Pro-Crypto Future
Bailey, a prominent figure in the cryptocurrency community, shocked many when he unveiled his team’s role in guiding Trump’s campaign towards embracing Bitcoin and other digital assets. Bailey revealed that they had proposed a crypto-focused executive order to be signed on Trump’s first day back in office, signaling a significant departure from Trump’s previous skepticism towards cryptocurrencies.
It’s time for Bitcoin to elect the next President of the United States.
— David Bailey
.65m/btc is the floor (@DavidFBailey) May 11, 2024
Trump’s Crypto Evolution: From Skepticism To Embrace
Trump’s shifting stance on cryptocurrencies has been nothing short of remarkable. Once vocal about his disdain for digital assets, Trump now appears open to embracing them, contrasting sharply with President Biden’s purported lack of understanding of the crypto space. This evolution has ignited discussions about the potential impact of a Trump presidency on the crypto industry.
For the past month we have been working with the Trump campaign to develop their bitcoin and crypto policy agenda. We proposed a comprehensive executive order for President Trump to sign on day 1. I will be sharing those details soon. This week Trump took the first step, but…
— David Bailey
.65m/btc is the floor (@DavidFBailey) May 11, 2024
The Divide: Pro-Bitcoin Or Anti-Biden?
Bailey’s announcement has sparked debates within the crypto community, with some viewing it as a strategic move to ensure a more favorable regulatory environment for Bitcoin and cryptocurrencies.
However, others question the motives behind supporting Trump, citing concerns about his controversial tenure as president. Bailey himself clarified that their actions are aimed at defending Bitcoin rather than endorsing Trump personally.
Election Dynamics: Bitcoin As A Deciding Factor?
With the upcoming presidential elections looming, the role of Bitcoin in shaping political landscapes has never been more apparent. Bailey’s call to mobilize and ensure a pro-Bitcoin president raises questions about the growing influence of cryptocurrency in electoral politics.
Will Bitcoin enthusiasts unite to sway the outcome of the elections in favor of a crypto-friendly candidate?
Trump: Second Term And Regulatory Outlook
Geoff Kendrick, head of FX Research and Digital Assets Research at Standard Chartered Bank, weighed in on the potential implications of a Trump second term for the cryptocurrency industry.
Kendrick believes that a Trump presidency would likely result in a more supportive regulatory environment, offering hope to crypto advocates amidst ongoing regulatory uncertainties.
How This Will Impact Crypto Prices
The news of Trump’s potential support for cryptocurrencies has stirred both excitement and caution in the market. While some see it as a promising sign for increased adoption and investment, others remain wary of the potential volatility and uncertainty associated with Trump’s involvement.
The impact on crypto prices will depend on factors like regulatory clarity and broader market sentiment, making it essential for investors to stay informed and adaptable in the face of evolving developments.
Featured image from AP Photo/Jeff Dean, chart from TradingView
Nigerian Experts Say Past Central Bank Policies Drove Users to P2P Crypto Platforms
Stakeholders in Nigeria’s cryptocurrency sector argue that the Central Bank of Nigeria’s previous decision to exclude cryptocurrency entities from the banking ecosystem has fueled the growth of peer-to-peer crypto trading. Nigerian authorities are reportedly seeking to ban peer-to-peer crypto trading. One stakeholder has urged participants in the Nigerian crypto space to ‘identify the bad actors […]
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Billionaire Mark Cuban Warns Gensler’s SEC Crypto Policies Could Cost Biden the Election
Billionaire Mark Cuban has criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s handling of crypto regulations, suggesting it could harm Biden’s election chances. “Gensler has not protected a single investor against fraud,” he stressed. “All he has done is make it nearly impossible for legitimate crypto companies to operate.” ‘This Is Also a […]
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Beba and Defi Education Fund Sue the SEC Over Its Airdrop Policies
Texas apparel company Beba and the Defi Education Fund (DEF) have announced a legal complaint against the U.S. SEC. They allege that the SEC has violated Administrative Procedure Act procedures by adopting an encompassing crypto policy without an official rulemaking process. Additionally, the plaintiffs seek to clarify that a token airdropped to its users does […]
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Skybridge Capital’s Anthony Scaramucci States Biden’s Anti Crypto Policies Will Cost Him the Election
Anthony Scaramucci, founder of Skybridge Capital, a private global investment firm, believes that the anti-crypto policies brought by the Biden administration might affect the outcome of the upcoming elections. He states that 52 million Americans, representing 20% of the voting population, currently own crypto and that most voted for Biden in the previous election.
Anthony Scaramucci: ‘Elizabeth Warren Is Going to Cost Them the Election’
The cryptocurrency issue is slowly becoming part of the U.S. policy agenda. Anthony Scaramucci, former White House communications director and founder of Skybridge Capital, has commented on the possibility that the anti-crypto policies of the Biden Administration might affect the outcome of the upcoming elections.
Scaramucci, a bitcoin believer, stated that more than 52 million Americans are now crypto owners. This constitutes 20% of the voting population in the country, stressing this number is higher than the number of Americans who own an electric vehicle, hold a union card, or go to an NFL game.
According to Scaramucci, 61% of this group voted for Biden and the democratic party in the previous election, but that can change given the current administration’s position on crypto regulation. Scaramucci states that cryptocurrency owners are also overrepresented in states like Pennsylvania, Nevada, Georgia, and Arizona, which hold 52 of the 270 electoral votes needed to win the election.
All of these states are considered swing states for the 2024 election, meaning that these will likely be decided by narrow margins, giving a higher significance to these issues.
Finally, he stated:
Elizabeth Warren is going to cost them the election.
Scaramucci refers to the anti-crypto stance of Senator Warren, who has introduced the Digital Asset Anti-Money Laundering Act, which aims to “close loopholes in current law and bring cryptocurrency companies into greater compliance with the anti-money laundering and countering the financing of terrorism (AMF/CFT) frameworks that govern much of the financial system.”
This bill has been criticized by other lawmakers and industry actors because, if applied, it would force unhosted wallet providers, node operators, and other cryptocurrency entities to face the same level of oversight that traditional financial institutions face.
What do you think about Anthony Scaramucci’s thoughts on the influence of crypto policies over the outcome of the next presidential election? Tell us in the comments section below.
Epic Games Store Changes Policies to Allow Blockchain Games in Its Platform Again
The Epic Games Store, the digital distribution storefront owned by Epic Games, has made changes that will allow some blockchain games to be listed on its platform again. Epic Games has announced that it will now admit games rated as “Adults Only” due to having non-fungible tokens (NFT) and blockchain elements.
Epic Games Stores Change Guidelines to Readmit Blockchain Games
The Epic Games Store has decided to open its doors for blockchain and Web3 games again. The digital storefront owned by the makers of Fortnite has decided to change its policies to readmit this kind of game into its platform.
According to the ESRB, some blockchain games are receiving the “Adults Only”(AO) rating due to the possibility of presenting the opportunity of exchanging the digital currency won for “real money.” The store excluded all games rated as AO by the Entertainment Software Rating Board (ESRB) from its platform, having a blanket ban on this kind of product.
However, it recently announced a change, adding an exception for blockchain and non-fungible token (NFT) games. Nonetheless, these games still have to comply with the already existing guidelines and the prohibitions on pornography, gambling, and hateful content.
The change allowed two games pulled due to receiving the AO rating, Unchained Gods and Striker Manager 3, to be included again in the platform. Immutable, a layer 2 Ethereum expansion layer and developer of Gods Unchained, celebrated this development, considering it an acknowledgment of the relevance of this tech in the gaming arena.
It stated:
We are pleased with Epic Games’ policy decision, and Gods Unchained has relisted on their store. This policy change shows that the space recognizes the experience of web3 gaming, and we are one step closer to adoption.
Steam, another digital distribution platform, has had a blanket ban on blockchain and NFT games since 2021. However, even with this ban enacted, developers are still finding ways to launch crypto-related games on this leading storefront.
What do you think about Epic Games’ policy change? Tell us in the comments section below.
Roblox to End Remote Work Policies; Metaverse and Digital Workspaces ‘Still Not There’
Roblox, a metaverse gaming company, has recently announced the end of its remote work policies, calling all but a few workers to work from its headquarters in San Mateo, California. Roblox founder and CEO David Baszucki stated that the metaverse and digital workspaces were still not as “engaging, collaborative, and productive as physical spaces.”
Roblox Recalls Its Workers to Headquarters, Ends Remote Work Policies
Roblox, a gaming and metaverse company, has recently recalled its workers, requesting they work from its headquarters. The company, which had turned into a remote workforce in March 2020 amid the coronavirus pandemic, has required all but a few of its workers to be present in office on a three-day schedule (Tues.-Thurs.) or take a severance package.
David Baszucki, founder and CEO of Roblox, said these new policies will begin being applied by July 2024, when all employees called for relocation will start in-office work. Roblox is giving remote employees until January 16th, 2024, to decide about their future in the company.
About the move, Baszucki stated this was an “extremely difficult decision because where we live is a personal choice and it affects all aspects of our lives,” detailing that Roblox had done everything in its power to “make this process as systematic and fair as possible.”
A Change of Heart
Baszucki explained how the company debated the best way of returning to presential work, as Roblox was “an innovation company and we needed to get back to working in person,” even entertaining the idea of the company supporting a “heavily hybrid remote culture.”
Ultimately, what changed Baszucki’s ideas for the future of Roblox was the first post-quarantine, in-person group meeting, where he found increased productivity levels. Baszucki explained:
Within 45 minutes I came away from three separate conversations with spontaneous to do’s and ideas to put in motion, something that hadn’t happened during the past few years of video meetings.
For Baszucki, while remote meetings, virtual workrooms, and metaverse environments sustained the company during the Covid-19 pandemic, such remote meetings still lag behind conventional in-person meetings where productivity is concerned. Baszucki concluded:
A three-hour Group Review in person is much less exhausting than over video and brainstorming sessions are more fluid and creative.
“While I’m confident we will get to a point where virtual workspaces are as engaging, collaborative, and productive as physical spaces, we aren’t there yet,” he concluded.
What do you think about the end of Roblox’s remote work policies? Tell us in the comments section below.
Hong Kong’s Friendly Crypto Policies ‘Very Stable,’ Legislator Assures Vitalik Buterin
A Hong Kong Legislative Council member has assured Ethereum co-founder Vitalik Buterin that the friendly cryptocurrency policies in Hong Kong are “very stable.” In response to Buterin’s comments expressing his unfamiliarity with Hong Kong and its “complicated interaction” with Mainland China, the legislator has extended an invitation for the Ethereum co-founder to visit Hong Kong and acquire a deeper understanding of the city’s crypto regulations.
Hong Kong’s Legislator Responds to Vitalik Buterin’s Crypto Policy Comments
Johnny Ng, a member of Hong Kong’s Legislative Council, has responded to the remarks by Ethereum co-founder Vitalik Buterin regarding Hong Kong’s crypto policies. Buterin cautioned crypto projects seeking to set up operations in Hong Kong at this year’s Web3 Transition Summit in Singapore which took place on Sept. 4.
“Yesterday, Ethereum founder Vitalik Buterin shared his views on the development of virtual asset projects (cryptocurrencies project) in Hong Kong. I respect his right to speak, but at the same time, I think he does not understand the situation in Hong Kong,” Ng wrote on social media platform X (translated by Google). He continued:
I sincerely invite Mr. Vitalik to come to Hong Kong to understand the situation. I am willing to coordinate with relevant institutions and enterprises to share the situation in Hong Kong with them.
Buterin stated at the summit that he doesn’t understand Hong Kong well. Ng explained that Hong Kong operates under a “one country, two systems” arrangement, with legislative power.
“As a member of the Legislative Council of the Hong Kong Special Administrative Region, I would like to share with you that every policy or legislation in Hong Kong will go through a period of discussion, including government policy writing, public consultation, discussions in multiple committees of the Legislative Council and the General Assembly, etc. So I hope Vitalik understands the actual situation,” he described.
The Ethereum co-founder also said that he understands even less the “complicated interaction” between Hong Kong and Mainland China. Ng responded by clarifying that China and Hong Kong “do not have the complications Vitalik said.”
Ng stressed: “The central government has always expressed support for the development of ‘one country, two systems’ in Hong Kong, so Hong Kong has room to formulate policies on virtual assets and welcomes global compliance companies to develop in Hong Kong.”
Buterin further stated that while crypto policies in Hong Kong are “very friendly now,” he questioned: “How stable is the level of friendliness?” Ng responded: “Hong Kong’s policies and laws will not change overnight. All relevant strategies and regulations have gone through major social consensus and complete procedures.” The lawmaker concluded:
Therefore, I can tell Mr. Vitalik that Hong Kong’s policies are very stable.
What do you think about the legislator’s response to Ethereum co-founder Vitalik Buterin’s comments about Hong Kong’s crypto policies? Let us know in the comments section below.