Cryptocurrency and the bitcoin stockpile: a game changer for the U.S. digital asset sector, according to Carol Alexander
Proponents think that a reserve would bring a number of benefits, including allowing the government to use the gains from bitcoins to pay down the country’s debts.
However, there are major questions about how the U.S. could legally start such a bitcoin fund, and many critics warn of serious consequences since Bitcoin is notorious for its volatility and would directly expose the U.S. government to any sharp losses.
Trump made another promise to crypto investors that could prove a game changer for the industry if fulfilled: That the U.S. would start “a strategic national stockpile” made up of bitcoin.
Analysts believe that after more than doubling in price last year, bitcoin could see another big increase in the near future.
“We have to regulate the space,” she says, calling the move towards a friendlier legislative environment for the crypto industry “a step in the wrong direction.”
Alexander worries professional traders could take advantage of, and benefit at the expense of regular investors, comparing it to a soccer game between two teams without a referee.
Carol Alexander is a professor from the University of Bath who has expertise in digital assets as well as her successful track record in forecasting the price of the digital asset, she is concerned about the new legislation.
French Hill, R-Ark., is the new chair of the House Financial Services Committee. A former community banker in his home state, Hill has advocated for policies that help develop crypto and AI, making him a potentially powerful ally to the incoming Trump administration.
The czar of artificial intelligence and cyber security was named by Trump, David Sacks, a well-known venture capitalist.
Cryptocurrency Markets: Some Reasons to Be ‘Buddly’ Propagating Under the SEC’s Curve’
There are some reasons for optimism. A big one is that bitcoin is becoming more mainstream after the Securities and Exchange Commission (SEC) reluctantly approved investment funds that track the price of bitcoin early last year.
These exchange traded funds, or ETFs, tend to be popular with regular investors, allowing them a simpler way to get exposure to bitcoin without having to shell out six figures for a single bitcoin.
Trump is not president yet but he is fulfilling one of his promises by picking regulators and policymakers who are expected to be friendlier to the interests of the digital coins he and his two sons are involved in.
The SEC, led by Gary Gensler, took aggressive enforcement action against key crypto players such as Coinbase as part of a legal battle to get them to comply with Wall Street regulations.
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Jimmy Carter’s funeral services begin in DC. And, photos from the major winter storm – justin Trudeau resigns
Jimmy Carter’s remains will arrive in Washington, DC, today. He will be honored with a ceremony at the U.S. Capitol, where he will lie in state. The public is allowed to pay respects until Thursday morning. Afterward, his remains will travel to Washington National Cathedral for his National Funeral Service. You can watch the funeral events here and listen to the live coverage of NPR at 4 pm.
Canada’s Prime Minister Justin Trudeau has announced his resignation, ending nearly a decade in power. He was in danger of being forced to step down because of his handling of the economy, immigration, and other issues. Trudeau will remain in office until a new leader of the party is found.
The United States has transferred some of their inmates from the US military prison in Cuba to a foreign country. The detainees, all men, were captured in the aftermath of the 9/11 terror attacks and had been held at Guantánamo Bay for over two decades without being charged or put on trial. There were fifteen prisoners left at the location after their release, which cut the number in half. The inmates’ release is part of Biden’s final push to try to close the detention facility before leaving office.
Source: Jimmy Carter’s funeral services begin in DC. And, photos from the major winter storm
The Minneapolis City Council’s decision to join the Minnesota Department of Justice – a wake of George Floyd’s murder five years ago and chaos across the country
The Minneapolis City Council has voted unanimously to join an agreement with the DOJ to reform its police department. The deal is to address decades of discrimination. The decision comes in the wake of George Floyd’s murder nearly five years ago, which resulted in protests around the country and the world.
A powerful winter storm is plowing through parts of the central and eastern U.S. Several states are under winter storm warnings. The storm’s significant snow, freezing rain and ice, blustery winds and frigid temperatures have caused havoc across multiple states. Since it hit, at least four people have died, dozens have been injured, thousands of cars have been stranded along the highways and nearly a quarter of a million customers across a few states have lost power. See the photos from the winter storm.
