any take on Republicans' plan to subsidize stablecoins with bank deposits?
World Liberty Financial’s USD1 stablecoin, a cryptocurrency whose value is pegged to the U.S. dollar, began trading Wednesday on KuCoin, a crypto exchange headquartered in the Seyc es.
KuCoin pleaded guilty in the United States in January to one count of operating an unlicensed money transmitting business, agreeing to pay almost $300 million in penalties and exit the U.S. market for at least two years.
KuCoin’s indicted cofounders, Chun Gan and Ke Tang, also agreed to no longer have any role in the company’s management or operations, according to the Justice Department, which deferred prosecution against them for two years.
Spokespeople for the White House, World Liberty Financial, the Trump Organization and KuCoin did not immediately respond to inquiries.
Lol your banks already use your deposits for whatever the they want
Stablecoins are just coins with lipstick.
There is only one crypto asset. Bitcoin
There is no second best
If you buy an S&P 500 ETF, that's not pump and dump. These are overwhelmingly real companies with real cash flows that are growing. That's worth something. Of course it can go up and down based on changing conditions and company performances, but that's not pump and dump.
The price of any stock is decided by the demand for that stock
You are not really buying the companies assets but the demand for them
Classic pump and dump 101
You're buying a share of company's assets and their projected future profits/cash flows. That's not pump and dump unless it's a meme stock in which the price is totally disconnected from the company's health. There aren't that many meme stocks relative to the overall market (1,000+ stocks).
Nope
If a health company announces a new cancer vaccine rhe stock price instantly skyrockets.
Next day if turns out that was false price plummets
You didnt buy rhe companys actual value on day 1. You bought the hype.
Classic pump and dump
according to Karoline Leavitt, Trump attended the crypto dinner "on his private time"
here's a pic from the dinner
the price of this dinner, reportedly, was not included
Food looks likethe price of this dinner, reportedly, was not included
There magare s have no class
Uhh.. no.
If the company lied about it then you file a lawsuit against it, and that is a pump and dump. That's not the overall stock market though.
guy with a $30,000/month flat tortures Italian tourist for Bitcoin password
https://www.cbsnews.com/newyork/news...alian-tourist/According to a criminal complaint provided to CBS News New York, the victim arrived in New York City from Italy on May 6 and then went to the suspect's home in SoHo.
At Woeltz's arraignment Saturday, prosecutors said the victim was lured to the home by being told he would be able to retrieve Bitcoin, which he had allegedly been previously forced to send the suspect under threat. According to the criminal complaint, he was then tied up and tortured for several weeks.
The victim managed to escape Friday and flagged down a nearby traffic agent, who called 911, prosecutors said.
At the arraignment, prosecutors said that while the victim was being held, he told investigators he was shocked with electric wires, his leg was cut with a saw, and he was forced to smoke crack cocaine. Police later recovered a saw from the home, prosecutors said.
Evidence recovered from the scene includes chicken wire, ballistic helmets, body armor, night vision goggles, t-shirts with pictures of the victim with a crack cocaine pipe in his mouth, along with Polaroids of the victim with a firearm pointed at his head, prosecutors said in court.
Blood was also found in various areas of the apartment to indicate the victim had been tortured, prosecutors disclosed.
Prosecutors alleged in the hearing that at one point, Woeltz and an accomplice hung the victim over the ledge at the top of the stairs inside the home while threatening to kill him if he didn't hand over his Bitcoin password.
The victim told investigators the suspect and his accomplice took his electronics and passport, hid them, and threatened to kill his family, prosecutors said during the arraignment. The victim said he managed to escape after agreeing — out of fear that he was about to be killed — to give up his Bitcoin password, which was on his laptop.
When the suspect left to go get the laptop, the victim, barefoot, bloodied and traumatized, ran outside for help, prosecutors said.
WH "vetoes" ethics rules in Crypto bill
https://www.tronweekly.com/white-hou...n-clarity-act/The White House has vetoed a bipartisan clause that would deal with conflicts of interest in the CLARITY Act. This provision was proposed by legislators to tackle possible ethical problems with political leaders’ ties to crypto ventures. The decision has since halted the talks while the fate of the bill is uncertain.
Although the CLARITY Act was passed by a committee markup, the ethics clause has caused tension between the Congress and the administration. The language that was rejected intended to ensure senior officials such as the President and the Vice President do not participate in crypto-linked businesses. However, the bipartisan language was opposed by the white house.
Trump is a straight up crook running a gangster regime
https://www.theguardian.com/us-news/...oin-corruptionTrump’s private events on 22 May to reward the top purchasers of $Trump have sparked strong criticism of the president from ethics watchdogs, ex-prosecutors and scholars for exploiting his office for personal gain in unprecedented ways. But they fit in a broader pattern of how Trump has exploited the power and lure of his office to enrich himself and some top allies via cryptocurrencies.
“Self-enrichment is exactly what the founders feared most in a leader – that’s why they put two separate prohibitions on self-benefit into the cons ution,” said former federal prosecutor Paul Rosenzweig. “Trump’s profiting from his presidential memecoin is a textbook example of what the framers wanted to avoid.”
Scholars, too, offer a harsh analysis of Trump’s crypto dealings.
“I have never seen such open corruption in any modern government anywhere,” said Steven Levitsky, a professor of government at Harvard University and an expert on authoritarian regimes who co-authored the book How Democracies Die.
18 Dems vote yes in the Senate
they see the $$$
open corruption
https://www.forbes.com/sites/danalex...rypto-venture/Sometime after June 8, the language on World Liberty’s site changed again—this time showing that DT Marks DEFI LLC owns about 40% of the business, down from 60%. Again, details on the transaction are scant. Given the volatility of Circle’s stock, it’s difficult to guess how much the Trumps might have received in a sale. But if the business were valued like Circle was on Friday, the Trump family might have cleared $190 million, with an estimated $135 million of that going to the president.
Representatives of the Trump Organization and World Liberty did not respond to requests for comment, which makes sense, given that broadcasting divestments could theoretically damage the value of Trump’s remaining crypto holdings.
symbolic opposition by the Dems18 Dems vote yes in the Senate
they see the $$$
they want that $$$
Schiff voted for the Genius Act
https://abcnews.go.com/US/wireStory/...ying-123209223Fannie Mae, Freddie Mac ordered to consider crypto as an asset when buying mortgages
The head of the federal government agency that oversees Fannie Mae and Freddie Mac wants the mortgage giants to consider accepting a homebuyer's cryptocurrency holdings in their criteria for buying mortgages from banks.
William Pulte, director of the Federal Housing Finance Agency, which oversees Fannie and Freddie, ordered the agencies Wednesday to prepare a proposal for consideration of crypto as an asset for reserves when they assess risks in single-family home loans.
Pulte also instructed the agencies that their mortgage risk assessments should not require cryptocurrency assets to be converted to U.S. dollars. And only crypto assets that “can be evidenced and stored on a U.S.-regulated centralized exchange subject to all applicable laws” are to be considered by the agencies in their proposal, Pulte wrote in a written order, effective immediately.
Pulte was sworn in as the head of FHFA in March. Public records show that as of January 2025, Pulte's spouse owned between $500,000 and $1 million of bitcoin and a similar amount of Solana’s SOL token.
...
Can't imagine what could go wrong
Loading up the US mortgage market with crypto has foreseeable downsides...
How many of y'all remember 2008-9?
Opacity of risk, bubble economics
CC wept and wailed about Fannie and Freddie back in the Obama days...I wonder what he thinks now about Trump griftmatizing them
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