phi1997 (@phi1997@mastodon.social)

99d

Trump Media execs have filed paperwork for a SPAC to target the crypto industry, reasoning that it’s strategic because of Trump’s “unprecedented steps to integrate digital assets into the national financial strategy” that were “aimed at benefiting the digital assets industry”.

#crypto #cryptocurrency #USpol #USpolitics

Three Trump Media executives have also filed paperwork for a new special purpose acquisition company (SPAC), which they aim to focus on “the cryptocurrency and blockchain, data security and dual-use technologies markets”. Explaining why the crypto industry was among their targets, they wrote: “The current administration has taken unprecedented steps to integrate digital assets into the national financial strategy.” They also noted the establishment of a strategic bitcoin reserve, and were even blunter than the Trump administration about the reserve’s purpose, explaining that it was “aimed at benefiting the digital assets industry”. They’re looking to raise $179 million.10

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99d

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.

#crypto #cryptocurrency #USpol #USpolitics

World Liberty Financial, the crypto project from which Trump earns 75% of the revenue, has announced plans to issue a stablecoin that they plan to call USD1.11 Trump and other Republicans have been vehemently opposed to any talk of establishing a central bank digital currency, or CBDC,a and Trump’s January 23 executive order on crypto established a prohibition on the creation of such a thing. Trump has described CBDCs as “a dangerous threat to freedom”, adding that “such a currency would give a federal government — our federal government — absolute control over your money. They could take your money and you wouldn’t even know it’s gone.”12 These concerns apparently don’t apply when it is the president himself who has absolute control over your money.

Although the project’s WLFI token ostensibly grants holders “the right to vote and take an active role in the governance of the World Liberty Financial protocol”, including “the overall WLF Protocol direction and plans”, no governance vote was held regarding this decision.13

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98d

@molly0xfff
That's because Trump is *his* dangerous threat to freedom, at least in his eyes

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