Chinese crypto scammer #JustinSun put tens of millions of dollars in Trump's pocket weeks before the government dropped all charges against him.
https://www.jacobsilverman.com/p/the-president-took-a-75-million-bribe
India arrests Russia-linked crypto exchange admin wanted by US
Crypto kingpin Aleksej Besciokov arrested from Varkala in south India
Increasingly questionable as to whether the “full faith and credit” of the US government has meaning on the international stage anymore.
In the best #Trump tradition, various default scenarios seem increasingly likely. The days of the #USDollar position as the world’s reserve currency appear to be numbered. I’m sure the #crypto folks are delighted
The Nerd Reich podcast, episode 1: The Network State
A deep dive into how tech billionaires like #ElonMusk are trying to dismantle traditional #governance to create their own #power structures through #crypto and #ArtificialIntelligence.
https://www.thenerdreich.com/the-nerd-reich-podcast-episode-1-the-network-state-2/
"we share bold predictions about where tech #authoritarianism is heading & reveal strategies for #resisting the growing control of billionaire #tech elites."
We need food, solar panels, hospitals, I really resent the economic system being corrupted so that producing controlling counterfeit wealth WORKS AGAINST the creation of actual needed goods.
"but #bluesky is a public benefit corporation"
sounds great!
but that's a shallow understanding
it means a company *may* (it doesn't have to) consider motivations other than pure profit
the designation has no real bite
like a company showing rainbows during pride month, then donating to the GOP:
it's empty bullshit
when bluesky gets popular enough its #crypto bro owners will pull an elon #musk destroying #twitter routine
bluesky's future failure is baked into its foundation
No less than 76 #Democrats just voted with Republicans to overturn the #IRS's "defi broker rule" which would have required crypto firms like #MarcAndreessen's #Uniswap to collect information on their users and in so doing discourage the use of these platforms for #moneylaundering by criminals and rogue nuclear states (#NorthKorea *loves* Uniswap) and by the very wealthy to avoid paying #taxes.
The new wave of #memecoin scams like #TrumpCoin are also all facilitated/perpetrated by these decentralized trading platforms.
If any of these people are your representative you should do what you can to make sure they are primaried because they are not representing your interests. At a minimum call them and yell at them (this works better than most people think!)
The corruption of the US government by #crypto bros is extremely bipartisan.
* Full roll call of vote: https://clerk.house.gov/Votes/202571
Legislation to allocate ~$100 billion of taxpayer money (roughly 8 aircraft carriers or 12% of the entire US defense budget) to buying #bitcoin has been reintroduced by Senator #CynthiaLummis.
(Unstated: Lummis is trying to pump the bitcoin market which has been crashing in the aftermath of Trump only committing to not selling $20bn worth of bitcoins seized from criminals when the market was pricing in a massive government purchase)
(Also unstated: Lummis owns a lot of bitcoin, so she’s nakedly attempting to use taxpayer money to enrich herself)
Most telling is the reaction beyond the crypto bubble: a mix of bewilderment and outrage at what appears to be a government policy crafted solely to benefit a small group of wealthy speculators and crypto companies.
And there are bitcoiners — some in Congress — who don’t think that the government has gone far enough. They’re pushing for tens of billions of dollars in government money to be spent on acquiring bitcoin (and boosting their own portfolios).
Some bitcoiners have pointed out the conflict with bitcoin’s supposed ideology, though many don’t seem to really care. There’s been little pushback to the fact that the reserve will be capitalized with assets taken via civil asset forfeiture, a notoriously extrajudicial process.
Donald Trump has been very direct that the purpose of the reserve is to bolster the cryptocurrency industry.
The policy represents a striking departure from bitcoiners’ historical skepticism of government market intervention, and simultaneously fails to articulate how it serves any genuine national interest.
Newsletter: Crypto reserves: no public good, no principles
The formerly anti-government bitcoin movement abandons its principles in favor of number-go-up, applauds federal plan to stockpile seized crypto with no clear benefit to national interest
https://www.citationneeded.news/crypto-reserves-no-public-good-no-principles/
Forbes on the steep tumble of the bitcoin and crypto market
#Musk #Trump #destruction #economy #recession #StockMarket #Dow #Nasdaq #stagflation #EconomicElites #billionaires #TaxCuts #Tariffs #bitcoin #crypto #TrumpBros #TechBros
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US seizes $23 million in crypto linked to LastPass breaches
U.S. authorities have seized over $23 million in cryptocurrency linked to the theft of $150 million from a Ripple crypto wallet in January 2024. Investigators believe hackers who breached LastPass in 2022 were behind the attack.
#LastPass #PasswordManager #cryptocurrency #crypto #ripple #databreach #security #cybersecurity #hackers #Hacking
New paper from #Yale and the #FederalReserve blames the 2023 banking crisis on (you guessed it) #crypto and Nerd Reich #VCs.
> "A clearer commonality between the six banks [that failed], the paper argues, is their exposure to risky depositor bases that other banks shied away from: #crypto firms and [tech] venture capitalists."
* American Banker: https://www.americanbanker.com/news/new-paper-hangs-march-2023-failures-on-business-model-risks
* Paper: https://www.chicagofed.org/publications/working-papers/2025/2025-04
https://www.europesays.com/1903254/ Donald Trump Jr.’s 1789 Firm Invests in Elon Musk’s SpaceX: Report #crypto #DonaldTrump #DonaldTrumpJr #ElonMusk #Musk #SpaceX
Good article in The Prospect about the coming STABLE and GENIUS acts, which will give an implicit bail out guarantee to crypto money laundering firms - sorry, i mean "stablecoins" - like #Tether and #Circle (#Coinbase). One of the two would also let #ElonMusk print his own dollars.
Senate #Democrats like #KirstenGillibrand, #ElissaSlotkin, and #RubenGallego, whose election campaigns were supported by incredible amounts of crypto money, will probably make sure these bills become laws (because they are corrupt).
Note that stablecoins are currently incredibly profitable businesses. After all a stablecoin is basically a bank where you spend nothing on anti-money laundering & other regulations, refuse to assist customers who have been scammed, and collect 5% interest from the US government while passing absolutely none of it on to your customers.
