Trump’s bullishness towards crypto may have less to do with the betterment of the digital asset ecosystem and more to do with his own crypto deals, the House Democrats believe.
Therefore, led by Maxine Waters, House Democrats walked out of the joint hearing of the Agriculture and Financial Services Committee.
Multiple times, Maxine Waters inquired about the reason behind her objection, and after a long bout of contemplation, “corruption of the President of the United States and his ownership of crypto and his oversight of all the agencies” was given as the key reason.
This objection highlights that crypto regulation may have a tumultuous road ahead, leaving uncertainty alive and well inside the cryptocurrency market, leading to massive volatility. Evidence of this is clear with Bitcoin’s recent surge past the $96K mark twice in a week.
Does this uncertainty make today the right time to get the best crypto to buy now?
Republicans are Legitimizing Trump’s Corruption – Maxine Waters
Most of the hearing was not about reaching consensus, but highlighting the shortfalls and perceived “corruption” of the current regime, with even Trump’s creation of “Strategic Bitcoin Reserve” coming under fire.
“It is a method of using taxpayer resources to boost the value of the president’s cryptocurrency,” Waters claimed.
Bombarding accusations of corruption straight from her opening remarks, Waters said, “…our Republican colleagues refused to address the unprecedented conflicts of interest presented by President Donald Trump and his family. I am deeply concerned that Republicans aren’t just ignoring Trump’s corruption—they are legitimizing Trump’s and his family’s efforts to enrich themselves on the backs of average Americans. Through his crypto business, Trump has turned the office of the presidency into a personal money-making machine.”
Three other panelists stood alongside Maxine Waters: Chastity Murphy, the former economic policy advisor to Rep. Rashida Tlaib, D-Mich.; Timothy Massad, the director of the Digital Assets Policy Project at the Harvard Kennedy School; and Mark Hays, associate director of Cryptocurrency and Financial Technology at Americans for Financial Reform.
The criticism was about Donald Trump’s handling of the cryptocurrency industry, while also stating that there should be stronger regulations for crypto to safeguard consumer interest.
Maxine Waters’ objections were then noted by the House Financial Services Committee Chairman Rep. French Hill, R-Ark., who stated that the Committee Republicans on Financial Services and the House Committee on Agriculture will continue to work with legislators on both sides.
It is to be noted that the entire hearing was to focus on establishing clear regulations around crypto and to prevent bad actors from thriving. A lot of rules were to be redefined in order to remove hegemonic control of the crypto trading industry by a few top trading firms.
Best Crypto to Buy Now – Smart Investor Picks to Leverage Market’s Volatility
With regulatory aspects of crypto being the top topic of discussion, the focus is now on finding the bad actors of crypto. While there are many who are against Maxine Waters’ objection, there is some reason to believe that manipulation is happening behind the scenes. For instance, Donald Trump’s declaration of a Strategic Bitcoin Reserve pushed the BTC value up drastically for two days before the value corrected again.
Furthermore, the introduction of the Official Trump token and WLFI presale is also concerning, which removes all thoughts that rules created for crypto would be unbiased. Therefore, investors should expect a high degree of volatility and pick crypto ICOs that can provide major upsides in the long term.
BTC Bull
The Bitcoin price has already faced the direct impact of the recent crypto-related hearing, as its price has surged parabolically—over 2.3%—in the last 24 hours. However, because the price action is spiky, investors are better off picking assets that could gain from Bitcoin’s growth.
And the perfect crypto ICO to do that is BTC Bull. With its simple mascot of a bull that is bullish about Bitcoin, BTC Bull creates an ambiance of positivity around Bitcoin.
But it is not just the ambiance that has led to it raising upwards of $5 million. Jacob Crypto Bury, a prominent cryptocurrency analyst, has highlighted that the token’s unique perks make it different from other meme coins.
The differential factor comes from the lack of pursuit of a long-term utility. BTC Bull is a simple meme coin, and it is comfortable with that. All its core mechanics consist of token burns and Bitcoin airdrops. These events will happen repeatedly when the Bitcoin price reaches particular levels, starting from $125K.
Few are the projects that make an effort to collect the growth vibes that trickle down from Bitcoin once it surges. BTC Bull is possibly the first one to do it, which makes it a one-of-a-kind crypto.
SUBBD
SUBBD is a utility crypto that plays on the gig economy to provide content creators a better platform to create and monetize their creations.
Following the pathway set by OnlyFans—but with a better, blockchain-driven spin—SUBBD presents an image of a platform that’s fast in terms of functionality, rewarding in terms of payments, and unique in terms of facilities.
The core aspect of this project is an AI agent, which the top models featured on the platform can leverage via prompt to deliver specialized content to their fans.
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Fans, on the other hand, will be able to collaborate with the creators, creating pieces of content that could be monetized for a very long time.
The native crypto of the project, also called SUBBD, is instrumental for payments and gaining access to exclusive content.
Several top content creators—HONEYS, as the platform calls them—have already been onboarded. They are also SUBBD brand ambassadors, which gives the project much-needed mileage to reach new highs after going live on the price charts.
Mind of Pepe
While much of the hearing was focused on making the cryptocurrency ecosystem fair and more regulation-bound, nothing much was said about innovation. It is a shame because unique innovation is what would bring long-term upsides to the blockchain economy.
That’s the focus of a project known as Mind of Pepe. Focusing on an agentic approach, Mind of Pepe is a meme coin combining the quirks of zen-filled Pepe and the perks of an AI agent.
The meme itself projects a simple vibe, giving off a serene feeling that’s not always associated with meme coins.
However, the true selling point of Mind of Pepe is its AI agent. Developed by Elvora Labs, Mind of Pepe is a meme coin that leverages real-time intelligence and hive-mind analysis to provide early moving opportunities to investors.
These opportunities are an extension of real-time market insights, which the AI agent will present as sharp takes on X.
Mind of Pepe is getting closer to raising $10 million, and the AI agent will arrive on the market on May 10th. With only 3 days remaining for the agent’s launch, anticipation is high for this project to succeed—which it can, if the bull run stays resilient.
Solaxy
Trump’s administration came under fire due to his own crypto dealings, especially tokens like Official Trump, which caused a lot of trouble for the market when it arrived. However, the key to this token’s success wasn’t only the Trump brand power, but also the fact that it was created on the Solana blockchain.
The Solana meme coin narrative is strong, but the chain itself could use a bit of an upgrade. That’s what Solaxy is here to provide.
Described by the official website as the world’s first L2 solution for Solana, Solaxy has the off-chain touch needed to make Solana more scalable, efficient, and faster.
The developers are going all in on making Solaxy a reality, providing regular updates and even making the blockchain explorer live.
Technologies used to make Solaxy the perfect L2 solution for Solana are Hyperlane, ZK Rollups, and Celestia, which have further bolstered support for Solaxy.
The project has made news by raising upwards of $33 million to date. Early investors are also getting over 120% by staking, which adds to the long-term potential of Solaxy.
Final Words
Maxine Waters’ walkout from the recent crypto hearing shows that crypto regulations still have a long road ahead before they can be fully refined. And there is no specific timeline either, which keeps uncertainty alive.
Another point to note is that her objections about the current U.S. President are valid, and the other panelists agreed as well. This further calls for fairer regulations, which is why investors must load up on the best crypto to buy now.
Because the road of regulations is paved with massive volatility, ICOs remain the best choice for cryptocurrency investment.
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