politics
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Senator Cynthia Lummis has introduced the BITCOIN Act, proposing that the U.S. Treasury acquire 1 million bitcoins over five years to establish a strategic reserve aimed at bolstering the dollar and countering inflation. MicroStrategy Chairman Michael Saylor supports the initiative, suggesting that such an acquisition could potentially reduce the national debt by $16 trillion. The…
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Reports indicate that some employees at the Food and Drug Administration (FDA) are contemplating resignation in response to Robert F. Kennedy Jr.’s anticipated role in President-elect Donald Trump’s administration. Kennedy, known for his critical views on vaccines and the pharmaceutical industry, has expressed intentions to overhaul the FDA, including the potential elimination of entire departments…
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Elon Musk, the CEO of Tesla, has successfully won the dismissal of a lawsuit that accused him and his company of manipulating the price of Dogecoin. The lawsuit, filed by a group of investors, claimed that Musk used his influence and social media presence to artificially inflate the price of Dogecoin, leading to significant financial…
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Eighteen U.S. states have filed a lawsuit against the Securities and Exchange Commission (SEC) and its commissioners, including Chair Gary Gensler, alleging “unconstitutional overreach” and “unfair persecution” of the cryptocurrency industry. The lawsuit contends that the SEC’s enforcement actions infringe upon states’ rights to regulate digital assets and exceed the agency’s statutory authority. Led by…
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Trump Media & Technology Group (TMTG), the parent company of Truth Social, is reportedly in advanced discussions to acquire cryptocurrency trading platform Bakkt. The Financial Times cites sources familiar with the matter, indicating that the deal would be an all-stock transaction. Bakkt, established in 2018 by Intercontinental Exchange (ICE), offers a platform for trading digital…
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President-elect Donald Trump has nominated former Florida Attorney General Pam Bondi to serve as the next U.S. Attorney General, following the withdrawal of Matt Gaetz from consideration. Bondi, who served as Florida’s Attorney General from 2011 to 2019, is recognized for her prosecutorial experience and steadfast support of Trump, notably during his first impeachment trial.…
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The Commodity Futures Trading Commission (CFTC) has issued a notice facilitating the listing of spot Bitcoin exchange-traded fund (ETF) options, marking a significant advancement in cryptocurrency derivatives. Bloomberg Senior ETF Analyst Eric Balchunas noted that the CFTC’s action represents the “second hurdle” cleared for spot Bitcoin ETF options, with the final step involving the Options…
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President-elect Donald Trump is moving forward with plans to establish a “crypto advisory council” aimed at reshaping U.S. cryptocurrency policy. Major industry players, including Ripple, Kraken, Circle, Paradigm, and Andreessen Horowitz’s crypto arm a16z, are actively seeking positions on this council, which is expected to operate under the National Economic Council or a similar White…
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Bitcoin’s price has surpassed $90,000 for the first time, driven by market optimism following President-elect Donald Trump’s victory and his pro-cryptocurrency stance. The cryptocurrency reached a record high of $91,110, marking a 32% increase since the November 5 election. Galaxy Digital CEO Mike Novogratz suggests that if the U.S. establishes a Bitcoin reserve, the cryptocurrency’s…
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The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to OpenSea, one of the largest NFT marketplaces, signaling its intent to pursue legal action. The SEC alleges that non-fungible tokens (NFTs) traded on the platform qualify as securities, marking a significant shift in the regulatory landscape. OpenSea CEO Devin Finzer confirmed the…
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Florida’s Chief Financial Officer (CFO), Jimmy Patronis, has announced that the state holds approximately $800 million in cryptocurrency-related investments. Patronis emphasized the state’s commitment to embracing digital assets, stating, “Crypto’s not going anywhere. We’d be a fool if we’re not prepared to do everything we can to harness the opportunities there.” In a recent interview…
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Italy’s government has decided to reduce the proposed capital gains tax on cryptocurrency transactions from 42% to 28%, following significant feedback from industry stakeholders and political figures. The initial proposal, introduced in October 2024, aimed to increase the tax rate from the existing 26% to 42%, sparking widespread concern among investors and businesses within the…
