GOP Majority Whip #TomEmmer, the man who wrote angry letters to the #SEC demanding that they stop bothering an innovative company like #FTX back in 2022, believes that the US government will be buying 1 million bitcoins for a price equivalent to 10-20% of the US defense budget for the “#StrategicBitcoinReserve” before the end of this session of Congress.
Here he is kissing Sam Bankman-Fried's ass on the floor of the US #Congress a few years ago: https://www.youtube.com/watch?v=MpIPlb7mYTE
oh look #BradGarlinghouse, another one of the 2024 election's megadonors, had (some of the) securities fraud charges against his company #Ripple dropped (they were charged with selling unregistered securities in the form of their token #XRP - the same XRP token that Trump wants to put in the “Strategic Crypto Reserve”).
i assume the rest of the charges (the ones they were convicted of) will be dropped soon enough.
https://x.com/bgarlinghouse/status/1902345706636992720
how it started / how it's going, white house endorses bitcoin edition
bitcoin daily candle chart going for maximum lols in the wake of Trump's #StrategicCryptoReserve announcement
checking in on how #DavidSacks's proposed "strategic crypto reserve" where taxpayers will buy a bunch of rich crypto bros' bags is going over with the #MAGA folks (hint: not well)
https://x.com/DavidSacks/status/1896482883424211188
good summary of the #StrategicBitcoinReserve / #DigitalAssetsStockpile, though i would add that the #broligarchs are doing this to loot america's wealth so they build the #NetworkState.
https://x.com/buccocapital/status/1896269388430606495
@ncweaver.skerry-tech.com note that it's all donor coins - #SOL (#Solana, backed by "crypto czar" #DavidSacks), #XRP (#Ripple, CEO is megadonor #BradGarlinghouse), and #ADA (#Cardano, created by #CharlesHoskinson). Trump only added bitcoin and ethereum a few hours later.
The price of all these tokens massively spiked 10-35% on the news as people seek to front run the American taxpayer’s “investment”.
kind of ominous that #ElonMusk just started following the Senate's crypto grifter in chief #CynthiaLummis (R-Wyoming), the author of the #StrategicBitcoinReserve legislation which proposes handing 10% of america's discretionary federal budget directly to crypto bros.
https://x.com/BigCryptoAlert/status/1895980891572187260
@GhostOnTheHalfShell @shafik via the #StrategicBitcoinReserve (now "#DigitalAssetsStockpile")
the bad version is they hand 10% of the discretionary budget to bros. the less bad version is they refrain from selling bitcoins seized from drug traffickers worth ~1% of the discretionary budget specifically so as to avoid crashing the market (the US and Chinese govts are two of the largest holders of bitcoins, all of it seized from criminals)
apparently #Ripple is running ads for its new #stablecoin #RLUSD on popular left wing podcasts now?
and it's a really weird ad.
Ripple is a company convicted of massive securities fraud run by one of Trump's biggest donors (#BradGarlinghouse) whose main cryptocurrency #XRP is being considered for a taxpayer bailout via the #DigitalAssetsStockpile (making Ripple the nemesis of bitcoin bros the world over - bitcoin maxis hate Ripple).
