Why Politicians Suddenly Love Crypto 🤐

Why Politicians Suddenly Love Crypto 🤐

Joey Segura

-

Aug 23, 2024

It looks like Trump and Harris caught the crypto bug.

Donald Trump, who once dismissed Bitcoin, just this week teased his very own digital asset platform, "The Defiant Ones" (hopefully just a working title), focused on "taking a stand" against the "big banks and financial elites." 

His opponent Kamala Harris, while not as involved in the industry as Trump, has also shown real intent to provide clear regulation for U.S. based crypto companies if elected in November.

It's been a long time coming, and it'd be great if the new (and long overdue) attention on crypto was unprovoked, but a record $119M in crypto campaign donations seem to indicate otherwise.

That's a staggering $114M jump from just $4.6M in donations last year.

And while the crypto industry is far from the first to throw money at elections in hopes of getting corporate tax cuts or more lenient regulation (I'm lookin at you big pharma), some concern is certainly justified as to why it takes multimillion dollar corporate campaign donations to get the democratic gears turning, but that's a conversation for another day.

For better or worse, this influx of crypto money is making real change in campaign strategies, and is influencing the agendas of the two remaining candidates in a pretty serious way.

But while the U.S. continues to dangle sustainable crypto regulation over voter's heads as a campaign promise, other players in the industry are already looking much further ahead.

Over the past nine months, Binance's new CEO Teng has worked to transform the company from a founder-led structure into one governed by a board, aiming to secure the company’s future with a "100-year plan".

Which I'm sure has their employees breathing a sign of relief after their former CEO was sentenced to four months in prison along with the companies $4B+ in fines for violating U.S. anti-money laundering laws.

So while the 100 year plan might seem like a bit of a long shot, the dedication and optimism is certainly refreshing. And who knows, maybe Bitcoin will be the multi-planetary currency of choice in 2124.

I just pray that my 0.1 $BTC ends up being enough to get my brain transferred into a new body so I can live to see it.

You can start stacking Bitcoins and start your own brain-transfer fund today, with Giddy.

- Joey Segura

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DefiQ, Inc. DBA Giddy, is registered with FinCEN as a Money Services Business (MSB), registration number 31000214426385.

DISCLAIMER: Giddy is not a custodian of cryptoassets and does not provide a guarantee of protection; you are responsible for the safekeeping of your cryptoasset private keys. Giddy does not provide financial, investment, tax, or legal advice. No communication from Giddy is intended to imply financial advice, nor that any cryptoasset is low-risk. All cryptoassets involve a significant degree of risk, including the possibility of high volatility or permanent loss.

Giddy provides information from 3rd parties and blockchain networks, and does not guarantee this information is correct, complete, or updated. Cryptoassets are not covered by either FDIC or SIPC insurance. For more information about the risks of virtual currency, see the CFTC’s Customer Advisory, the CFPB’s Consumer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.

Passive income derived from decentralized finance activities such as staking and liquidity farming carries with it additional risks which could include permanent loss of funds. Consult a professional before investing money on the blockchain. Never invest more money than you can afford to lose.

© 2024 Giddy. All rights reserved.

Not FDIC Insured · No Bank Guarantee · May Lose Value

DefiQ, Inc. DBA Giddy, is registered with FinCEN as a Money Services Business (MSB), registration number 31000214426385.

DISCLAIMER: Giddy is not a custodian of cryptoassets and does not provide a guarantee of protection; you are responsible for the safekeeping of your cryptoasset private keys. Giddy does not provide financial, investment, tax, or legal advice. No communication from Giddy is intended to imply financial advice, nor that any cryptoasset is low-risk. All cryptoassets involve a significant degree of risk, including the possibility of high volatility or permanent loss.

Giddy provides information from 3rd parties and blockchain networks, and does not guarantee this information is correct, complete, or updated. Cryptoassets are not covered by either FDIC or SIPC insurance. For more information about the risks of virtual currency, see the CFTC’s Customer Advisory, the CFPB’s Consumer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.

Passive income derived from decentralized finance activities such as staking and liquidity farming carries with it additional risks which could include permanent loss of funds. Consult a professional before investing money on the blockchain. Never invest more money than you can afford to lose.