Ethereum co-founder Vitalik Buterin also joined in concerns about politicians launching tokens, posting: “The risk of politician coins comes from the fact that they are such a perfect bribery vehicle. If a politician issues a coin, you do not even need to send them any coins to give them money. Instead, you just buy and hold the coin, and this increases the value of their holdings passively.” […]
I think it’s not great that a Senator who personally holds bitcoin can move bitcoin markets by a couple thousand dollars with just a tweet – and it’s not great that someone with a financial stake in crypto is tasked with regulating the sector. – The Subcommittee is stacked with crypto proponents, with pro-crypto Ruben Gallego (D-AZ, recipient of $10 million in crypto PAC funding) serving as the ranking member. Pro-crypto Republicans Bernie Moreno (OH, recipient of $40 million), Dave McCormick (PA, recipient of $35,000), Thom Tillis (NC), and Bill Hagerty (TN) are also taking seats. […]
Meanwhile, various financial firms are eagerly testing the waters with the new, more permissive regulators by filing applications for exchange-traded funds tracking memecoins including DOGE, BONK, and TRUMP. 21 I suppose they made their bed, and now they’re going to lie in it by being forced to review endless applications for the dumbest ETFs possible. If a financial adviser ever recommends I diversify my portfolio by buying shares of a PEPE ETF, I shall take that as my cue to withdraw every penny and place it under my mattress. […]
At least eight people have been arrested in connection to the kidnapping of the co-founder of Ledger, a popular cryptocurrency hardware wallet. David Balland and his wife were kidnapped from their home in France early on January 21 by a group who demanded a large cryptocurrency ransom. The group cut off one of Balland’s fingers, sending it to his associates and demanding ransom from them and family members. However, police were able to locate Balland and his wife on the night of January 22. “That’s 7 crypto wrench attacks in the first 3 weeks of this year. Unprecedented acceleration,” wrote Jameson Lopp, using slang to refer to physical attacks on people known to hold large sums of crypto. Lopp maintains an ongoing list of people who have been attacked in attempted or successful cryptocurrency thefts. […]
Ethereum co-founder Vitalik Buterin also joined in concerns about politicians launching tokens, posting: “The risk of politician coins comes from the fact that they are such a perfect bribery vehicle. If a politician issues a coin, you do not even need to send them any coins to give them money. Instead, you just buy and hold the coin, and this increases the value of their holdings passively.”