And Trump’s WLFI is looking to launch a stablecoin. Though Trump has described central bank-controlled stablecoins as “a dangerous threat to freedom”, he seems to have no qualms with a president-controlled token.
The SEC has requested input to write essentially entirely new rules for the crypto industry, and the industry has been only too happy to oblige.
Other input has come from the likes of Lee Reiners, who writes “I must admit that whole endeavor seems performative and intended to justify a predetermined outcome.”
The crypto super PACs have spent a combined $1.5 million on two special elections in deeply red districts in Florida, where Republicans have been panicking about being outspent by Democrats. Musk’s America PAC also dropped some cash to help out Trump’s picks.
That and more in this week’s issue of Citation Needed, a completely independent and subscriber-funded publication. To support my work, please consider subscribing!
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