Crypto Maverick

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For the first time, cryptocurrency could significantly influence the outcome of a U.S. presidential election. As digital assets become more mainstream, crypto investors are emerging as a key and influential voting bloc.
Anywhere from 7% to 21% of Americans now own cryptocurrency, which translates to 18 to 50 million potential voters. According to research by the crypto exchange Gemini, 73% of these crypto owners say a candidate’s stance on cryptocurrency will directly impact their vote.
This growing influence is especially notable in swing states. Pro-crypto organizations like Stand with Crypto, a Political Action Committee (PAC), are mobilizing "crypto advocates" in critical battleground areas. In fact, the number of crypto voters in swing states like Arizona and Georgia far exceeds the margin by which President Biden won in 2020, underscoring their potential to tip the scales.
Patrick Gerhart, President of Banking Operations at Telcoin, emphasized the staying power of digital assets, stating, “More and more people are adopting digital currencies every year. The technology is here to stay, and politicians need to understand the needs of these voters if they want to succeed."
The crypto industry's expanding influence has prompted it to invest heavily in the upcoming election. FairShake, a pro-crypto PAC backed by major players like Coinbase and Ripple, has raised over $200 million to support candidates favorable to the industry. With regulatory decisions hanging in the balance over the next four years, the stakes for the future of digital assets are higher than ever.
"A knowledgeable and pro-crypto administration could positively shape the regulatory landscape," added Gerhart. "This would benefit not only everyday users but also bring much-needed clarity to regulators."
Presidential candidates are already paying attention. Donald Trump, once a crypto skeptic, is now actively courting the industry, positioning himself as a pro-crypto leader. He has pledged to create a national bitcoin reserve and roll back restrictive regulations. Trump even headlined a major bitcoin conference, signaling his willingness to engage with the crypto community. However, some question whether he will follow through on these promises.
In contrast, the Biden-Harris administration has been perceived as largely anti-crypto, with recent regulatory actions and vetoes on bipartisan crypto legislation leaving many in the industry frustrated. Critics argue that this has fostered an uncertain regulatory environment, stifling innovation and causing businesses to leave the U.S.

"The Biden administration is likely to be remembered as one of the least crypto-friendly in recent history," said Todd Ruoff, CEO of decentralized data network Autonomys. "The lack of clear guidelines has made it difficult for the industry to thrive."
Vice President Kamala Harris has engaged with crypto leaders but has yet to articulate a clear stance on how a Harris administration might handle the crypto industry. This uncertainty has left many wondering what a future under her leadership could mean for digital assets.
"Trump has struck a more favorable tone," added Ruoff. "Neither candidate may be perfect for the crypto community, but one may pose fewer challenges than the other."
The 2024 election could mark a turning point for cryptocurrency in U.S. politics. Candidates who embrace and understand the crypto movement could shape both the future of the industry and their political legacies. And while this may be the first time the crypto vote matters, it certainly won’t be the last.
#WritetoEarn #CryptoNewss #Write2Earn! #WeAreAllSatoshi

Industry insiders say WazirX is having trouble finding a reputed exchange serve as a third party service provider, after the loss of reputation of the management post the Rs 2000 crore hack.
WazirX Transfers Rs 606 Crore in User Funds to Unregistered Exchange ByBit After Massive Cyber Hack
In a major development, WazirX has transferred $72.13 million (approx. Rs 606 crore) of remaining user funds to ByBit, an exchange that is unregistered in India, following a massive cyber hack that resulted in a 45% loss of user funds, valued at Rs 2,000 crore.

Concerns Over ByBit’s User Policy
ByBit’s user policy raises serious concerns for WazirX users, as it states that the exchange will not be liable for any user compensation in cases of events beyond its control, including cyber hacks. Additionally, ByBit caps its liability at $10,000, which may offer little protection to users in case of another breach.
About ByBit and Its Regulatory Status
ByBit, launched in 2018 by Chinese entrepreneur Ben Zhou, is headquartered in Singapore.It is not registered with the Financial Intelligence Unit (FIU) in India, making it technically unable to conduct business within the country.ByBit operates under regulations from Dubai, Cyprus, and Kazakhstan, but lacks registration in India, which could limit user recourse in unforeseen events.
WazirX’s Transfer Raises User Safety Concerns
The transfer of funds to ByBit, an unregistered platform, has alarmed WazirX’s 4.4 million Indian users. The move makes these remaining funds potentially unreachable in case of another hack, as ByBit operates outside Indian jurisdiction.
Insights from CoinSwitch CEO
The fund transfer to ByBit was disclosed by CoinSwitch CEO Ashish Singhal, who revealed that WazirX also transferred $1.5 million to KuCoin, which is FIU-registered. He provided a live dashboard of over 240,000 public wallet addresses disclosed by WazirX, following a Singapore Court order.
An internal audit by CoinSwitch indicated that WazirX made these transfers without user consent, further raising transparency and trust concerns.

What Lies Ahead for WazirX Users?
An industry insider noted that WazirX is struggling to find a suitable, FIU-registered exchange in India to securely hold user funds while a restructuring scheme is devised. In the meantime, users are left to rely on an unregistered exchange, increasing the risk of potential fund loss.
#Bybit #wazirX #FTXScamAlert #SCRSpotTradingOnBinance #TeslaTransferBTC

Grayscale, the world's largest digital asset management company, published a report commenting on the current situation in the cryptocurrency world. Stating that in the analysis, it expects 18 coins, in addition to Bitcoin #BTC☀ and Ether #ETHETFsApproved , to come to the fore in the 3rd quarter of 2024, the company expects the rise in artificial intelligence coins to continue.
Grayscale, which is waiting for the final approval from the SEC for the same product in Ether as well as the launch of the Bitcoin spot ETF, published a report sharing its expectations for the 3rd quarter of 2024. Focusing more on the rise of artificial intelligence coins in the report, the company also stated that it expects the ecosystem to grow around the Ethereum chain with the acceptance of Ethereum spot ETFs.
According to the report, Grayscale predicts that Ethereum ETFs will receive significant investment, as in Bitcoin ETFs, and will increase the valuations of tokens in the Ethereum ecosystem.
The company continued, “If ETF approval increases interest and adoption in Ethereum, certain second layer tokens (e.g. Mantle), Ethereum DeFi protocols (e.g. Uniswap, Maker and Aave) and other assets central to the operation of the Ethereum network ( “We may also see increased transaction activity and valuation support for (e.g. Lido).” says.
On the other hand, Grayscale is of the view that, aside from the Ethereum ETF approval, various existing categories, and particularly the intersection between blockchain technology and artificial intelligence, will continue to be in focus in the coming quarters. The company underlines that one of the assets in this category is Near, and that Near is among the best smart contract platforms in terms of the number of daily active users. The report emphasized that decentralized GPU markets such as Render and Akash may also be the choice of investors who want to invest in the field of artificial intelligence.
Drawing attention to projects that have their own tendency to adopt, Grayscale highlighted Toncoin and Pandle at this point. Stating that systems such as Toncoin and Pandle make a difference with their own technologies, the report stated that the excessive token unlocking in tokens with user adaptation such as Arbitrum and Optimism also creates a disadvantage for investors.
In the list, which includes both old and new coins of the crypto world, such as NEAR, AKT, TON, LINK, RNDR and UNI, the projects with high potential for the third quarter are listed as follows. Stating that this list will be updated quarterly, Grayscale states that many of the listed assets have high volatility and should be considered high-risk assets.