Riding The Wave News Summary 150
7 presidential candidates have dropped clues about their crypto stance, ‘It’s A Big Deal’—Crypto Suddenly Braced For A Huge China Earthquake After Bitcoin, & more.
Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here
News
Table of Contents
Tweets
7 presidential candidates have dropped clues about their crypto stance
Turns out, it’s pretty difficult to insure crypto users and platforms
Binance, Other Crypto Players Shun Multichain as Bridging Rumors Swirl
Tweets
https://twitter.com/callieabost/status/1662834471488434178
https://twitter.com/GameofTrades_/status/1662851226269253636
https://twitter.com/WallStreetSilv/status/1662825377922797570
https://twitter.com/StephanieKelton/status/1662471984196771842
https://twitter.com/WatcherGuru/status/1662798011901067264
https://twitter.com/GameofTrades_/status/1662488835199238145
https://twitter.com/WatcherGuru/status/1662493141553889280
7 presidential candidates have dropped clues about their crypto stance
The current president of the United States, Joe Biden, kicked off his re-election bid on April 25, and is at the moment, the likely favorite for the Democrat’s presidential nominee.
The section aimed to debunk the “Perceived Appeal of Crypto Assets.” It argued crypto doesn’t deliver on “touted” benefits and claimed “many of them have no fundamental value.”
Biden has rallied against perceived crypto “tax loopholes” and even opposed a debt ceiling agreement with Republicans as he claimed it protected “wealthy tax cheats and crypto traders.”
The former president turned NFT salesman Trump threw in his non-consecutive re-election bid on Nov. 15, 2022. According to current polling, he’s the favored Republican nominee.
Trump has said crypto “may be fake” and is “a disaster waiting to happen.” He’s also said Bitcoin “just seems like a scam” and didn’t like it “because it is another currency competing against the dollar.”
Ron DeSantis said he would “protect” Bitcoin in his May 24 presidential bid announcement on Twitter. Polls taken before the Florida governor's announcement have him second favorite to Trump.
During his Twitter Space campaign kick-off, DeSantis said “You have every right to do Bitcoin” and would “protect the ability to do things like Bitcoin.”
DeSantis is probably better known as an anti-central bank digital currency (CBDC) figure.
Pharmaceutical firm founder Vivek Ramaswamy has also signaled a pro-crypto stance but is considered a long shot for the Republican nomination.
In mid-May, Ramaswamy tweeted “Bitcoin should not be regulated as a security.” At the Bitcoin 2023 conference, he announced he would accept campaign donations in Bitcoin.
Robert F. Kennedy Jr is seen as unlikely to be put forward by the Democrats for president — but he has signaled pro-crypto stances.
Earlier in May he said “crypto technologies are a major innovation engine" and called Bitcoin a “symbol of democracy and freedom” in a speech at the Bitcoin 2023 conference.
The third favorite declared Republican candidate Nikki Haley hasn’t publicly addressed her views on crypto.
Democratic nominee Marianne Willamson hasn’t either but has implied disappointment at the Canadian government blocking crypto wallets during the trucker protests in 2022.
Republican Senator Tim Scott is also a bidder and similarly has no stated crypto policies.
‘It’s A Big Deal’—Crypto Suddenly Braced For A Huge China Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Swings
Now, after Tesla billionaire Elon Musk issued a surprise crypto warning this week, Changpeng "CZ" Zhao, the chief executive of the world's largest crypto exchange Binance, has predicted China could be about to trigger the next bitcoin price bull run.
"China Central Television just broadcasted crypto," CZ posted to Twitter alongside a link to CCTV's website that showed a TV segment that featured a bitcoin ATM in Hong Kong and a sign that said "buy bitcoins."
"It's a big deal," CZ said. "The Chinese-speaking communities are buzzing. Historically, coverages like these led to bull runs."
China has had a fraught relationship with bitcoin, ethereum and other cryptocurrencies over the years, repeatedly cracking down on it. In 2021, China enacted its strictest crypto trading and mining ban yet, ejecting all bitcoin, ethereum and crypto miners from the country.
Turns out, it’s pretty difficult to insure crypto users and platforms
Keep reading with a 7-day free trial
Subscribe to Riding The Wave to keep reading this post and get 7 days of free access to the full post archives.