Six months after Donald Trump returned to the White House, there is one clear thing: the biggest winners so far are not oil executives or Wall Street banker. They are Bruce Check.
Yes, the same industry that melted in 2022-which is the exchange of FTX encryption, and CEO of “Al-Basira”, Sam Banglan Farid (who is now 25 years in prison), and billions of investor money suddenly. Stronger. Wealthy. Politically powerful than ever.
This is because Crypto was not only betting on Trump. He funded it. Now that the investment is invested.
Trump says he built encryption. Industry allows him
During a press conference June 27, Trump to make Amazing claim: “I am a president, and what I did there is building a very important industry.” Then he announced that the encryption is a “strategic industry”, a kind of things that America must dominate to overcome China.
To the skeptical, it’s a classic Trump bomb. But inside the industry, this is music. The presence of a president that frankly slows technology, hosts encryption companies at the White House, and indicates that green lights throughout the government are exactly what they want. It works.
Congress wishes list in Crypto? Mostly granted
Since January, the encryption industry has achieved a series of legislative and regulatory victories that seemed impossible two years ago.
1. The genius verb
It was approved by the Senate this spring. This comprehensive draft law is organized and regulates Stablecoins, a type of cryptocurrency associated with traditional funds such as the US dollar. Stablecoins is the great brand for Crypto: It is a lower casino, more savings account. Their “stability” promised them in a market known as volatility. This federal legal law gives them, opening the door for banks, credit cards, and even mortgage lenders for use.
2. US encryption reserves
A new treasury program that will store major cryptocurrencies such as Bitcoin and Ethereum as a strategic origin, along with golden and foreign currency reserves.
3
Gary Ginsner, the organizer of Biden’s era, who hates industry to follow up on encryption claims. Paul Atkins, who pledged to create “clear and rational” rules, especially about the nursery (which carries your coins), issuance and fraud. It also supports the self -body, which means that people can keep encryption in private portfolios, outside the banks.
4. Mortgage reform
The Federal Housing Finance Agency is now exploring whether coding assets such as Bitcoin can be considered to be considered wealth in mortgage requests.
All this happens under the Trump watch.
Wall Street returned to the series
With the organization finally, the encryption market flourishes.
- Bitcoin is trading slightly less than $ 111,000, which is the highest new level ever
- The entire encryption market is now $ 3.4 trillion, an increase of less than $ 1 trillion at the beginning of 2023.
- Circle, Source Stablecoin, only had a public subscription, as he jumped from $ 6 billion to $ 43 billion in weeks.
- Coinbase, Robinhood and Microstrategy have seen the increase in its stock.
Stablecoins is the Crypto Trojism
Let’s be honest: most people connect encryption to the coins of the pump and unloading, Monkey Jpegs, or ELON Musk Tweet. Various stablecoins. They were linked to the dollar and design so that they would not swing violently. Think about them as PayPal with Blockchain background. For this reason, all adult players try Stablecoins for payments. For this reason, the legislators also embrace them.
Nfts was a joke. Stablecoins is dangerous.
But the casino did not close
Despite the shine of legitimacy, Crypto still crawls with coins and fraud.
Thousands of new coins are launched every month. According to Coingecko, there are 17,533 of the cryptocurrencies listed until the time of writing this report. Some rise in the price, fade overnight, and does not leave any trace. Others are frank fraud. In 2024, encryption fraud led to $ 5.8 billion of reported losses, according to the FBI.
The recent Ministry of Justice investigations seized $ 225 million linked to “pig slaughtering” plans, which are long fraud that drains victims over time using fake encryption investments.
Amnesty International makes them more difficult.
Follow the money
This new golden age did not happen by chance.
The encryption companies and the Super Pacs spent more than $ 180 million in the 2024 election session, beating each other industry group. PAC, Versaki, helped election of dozens of pro -rental legislators.
Now they have a president who repeats Saleh. Trump not only extends to industry, but his sons are actively Go in itFrom symbols to mining operations. As long as he is in office, Crypto has a seat on the table.
We took
Checks is a moment. The organization is friendly at the end. Investors are confident. And the white house in all.
But the greatest enemy of industry is still itself. Encryption has a pattern: mutation, noise, crash, repeat. If he wants to be treated like Wall Street, he should leave the casino behind and clean fraud.
Now, it has the wind in its back. And once, these winds come from Washington.
https://gizmodo.com/app/uploads/2024/09/An-image-of-Bitcoin-cryptocurrency.jpg
Source link