Cryptocurrency's power players spent big on the election. Will it pay off?

[ucrdem]

NPR's Ayesha Rascoe speaks with Punchbowl News reporter Brendan Pedersen about the cryptocurrency industry's heavy spending on the 2024 campaign and what it could mean for crypto regulation. November 10, 2024, 8:33 AM

No transcript yet, but a bombshell story, IMHO, as it confirms suspicions I've had since last summer. Highlights:

* Crypto spent $100+ million to defeat Dems seen as hostile or indifferent to the crypto-currency "industry," including Joe Biden;

* Crypto sent $40 million into Ohio to defeat Sherrod Brown, head of a troublesome Senate banking committee;

* Trump, who at one point called crypto a scam, is now a true believer, with his own family crypto company;

And more. Anyway it's very instructive and about as non-tinfoil as it's possible to be ("Heard on Weekend Edition Sunday" ) .

[link:https://www.npr.org/2024/11/10/nx-s1-5183122/cryptocurrencys-power-players-spent-big-on-the-election-will-it-pay-off

p.s. crypto is headquartered in Silicon Valley, CA (San Jose/Menlo Park), not far from San Francisco.

[keithbvadu2]

1. Great news for the crypto sellers and controllers. Not so much for the small fry. Regulations? .... T.R.U.S.T. me.

https://www.bing.com/search?q=trump+crypto&form=ANNTH1&refig=35772c1e07774e34bd9b49e26f119d5f&pc=U531

Trump family gets 75% of crypto coin revenue, has no liability, new document reveals

https://www.nbcnews.com/tech/crypto/trump-family-gets-75-crypto-coin-revenue-no-liability-new-document-rev-rcna176088
------------------------------------
The big money return in crypto is:::
1. Starting it, hyping it, selling it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
A few have profited by 'investing' but not the majority.

[TheFarseer]

2. It will definitely pay off

I’m not sure Democrats would have done anything more than play bad cop. I’m guessing now it will be the Wild Wild West with scams and ransomware attacks like you wouldn’t believe.

[Mark.b2]

3. The only good news this week is bitcoin approached $80k...

I dont own any directly. I missed that boat a couple years ago :-/ But, a lot of us on here probably have some in our mutual funds.

I do dabble with some of the BTC miners, though. Hopefully, BTC can crossover $80k and stay there!