🇺🇸 Donald Trump Ready To Launch Crypto Project!

Lots of big crypto news including Trump's crypto project, Kamala Harris signaling support for crypto and much more.

Thinking Crypto Podcast

Aug 22, 2024

Hey Thinkers 💡

Big Players Enter the Crypto Arena

It’s been a whirlwind week in the world of crypto, with major political figures and institutions making headlines.

Donald Trump Promotes “Official” Cryptocurrency Project

Former President Donald Trump has made waves by seemingly promoting a cryptocurrency project that uses his name. In a post on Truth Social, Trump emphasized the need for Americans to stand against financial elites and mentioned his new “DeFi” project, encouraging followers to join through a Telegram channel. This move suggests a significant shift in Trump's approach to digital assets.

Kamala Harris Signals Support for Crypto-Friendly Policies

Vice President Kamala Harris is also entering the crypto conversation. A senior campaign adviser, Brian Nelson, hinted at Harris’ support for policies that would allow emerging technologies, like blockchain, to flourish. Although concrete policy details have yet to be released, this statement indicates that the Harris campaign is taking note of the growing influence of the crypto industry.

Senator Tim Scott Proposes Crypto-Focused Senate Panel

On the legislative front, Republican Senator Tim Scott has proposed the creation of a digital asset-focused subcommittee if he chairs the Senate Banking Committee. Speaking at the Wyoming Blockchain Symposium, Scott expressed his desire to bring more attention to the industry, advocating for increased hearings and quicker legislative action.

Crypto Spending Dominates 2024 Election Cycle

A recent report by Public Citizen reveals that cryptocurrency corporations are heavily investing in the 2024 elections, contributing over $119 million to federal campaigns. This amount represents nearly half of all corporate spending this cycle, underscoring the sector's growing influence in politics.

Franklin Templeton Expands Blockchain Presence

In a significant move, global investment firm Franklin Templeton, managing $1.6 trillion in assets, has expanded its blockchain initiatives by integrating with Avalanche (AVAX). Their U.S. Government Money Fund (FOBXX) is now the first U.S.-registered mutual fund to use a public blockchain for transaction processing and share ownership records. Investors can access the fund through the Benji Investments app, where one share is represented by one BENJI token.

Ethereum ETFs Cross $2 Billion Milestone

The Ethereum ETF market has reached a new milestone, with BlackRock’s iShares Ethereum Trust (ETHA) surpassing $1 billion in net inflows. This achievement makes ETHA the first among 11 issuers to reach this threshold, reflecting the growing investor interest in Ethereum-based financial products.

Tether Announces New UAE Dirham-Pegged Stablecoin

Tether is expanding its stablecoin offerings with a new token pegged to the United Arab Emirates dirham. Developed in collaboration with Phoenix Group and Green Acorn Investments, this stablecoin aims to provide a cost-effective and transparent way to access the dirham while offering a hedge against currency fluctuations. Tether also plans to seek licensing under the UAE Central Bank’s new Payment Token Services Regulation.

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