FYI

As Cryptopolitan reported, government ethics watchdogs have raised concerns about the Trump family profiting from their political positions. Despite the backlash, industry analysts see this as a turning point.

Asset manager Bernstein said, “The launch of a meme coin by the world’s largest political figure represents a major paradigm shift in how the government views crypto. It could be the beginning of direct engagement with the public through blockchain technology.” (But why not mention crypto at his inauguration.)

Republican Sen. Cynthia Lummis, a proud and well-known Bitcoin supporter in Congress, introduced the Bitcoin Act of 2024 in July to establish a reserve holding 200,000 Bitcoin, worth $2.1 billion at current prices.

After Trump’s victory on November 5, she tweeted, “We will establish a strategic Bitcoin reserve.” (My personal assessment.. this is just looking for a stage to solidify something.)

Yesterday, Lummis met with Eric Trump at the Capitol to discuss the reserve plan, according to Bloomberg. Eric then took to social media, urging investors (well, he ended up with the headache) to “bet on crypto” as part of their belief in America’s limitless potential.