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Yevhen

@applestar

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17 Followers
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Yevhen
@applestar
⚪ A Bright Future Ahead for Crypto Policy ➖ The 2024 elections have proven that crypto is a force to be reckoned with in American politics ➖ As the dust settles, the outlook for crypto regulation is looking brighter than ever, with pro-crypto lawmakers ready to champion the cause in both the House and Senate ➖ For crypto enthusiasts and investors, this election marks a turning point that could usher in a new era of innovation and regulatory clarity 🧵 7/7
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Yevhen
@applestar
⚪ Warren Takes Massachusetts, but Not All is Lost ➖ Not every pro-crypto candidate had their moment. In Massachusetts, Elizabeth Warren, a longtime crypto skeptic and vocal critic, secured her Senate seat over John Deaton, a well-known crypto advocate and XRP defender ➖ Warren’s victory is a setback for crypto enthusiasts, but with the overwhelming number of pro-crypto wins elsewhere, it’s a small stumble on an otherwise victorious night 🧵 6/7
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Yevhen
@applestar
⚪ Tight Races in Key Crypto Battlegrounds ➖ Some other critical Senate races remain nail-biters ➖ In Montana, pro-crypto Tim Sheehy leads with 247,000 votes against neutral candidate Jon Tester’s 205,000 ➖ Pennsylvania’s close race between Dave McCormick and Bob Casey sees both candidates tied with around 3.2 million votes ➖ McCormick’s pro-crypto stance could tip the balance if he wins. In Wisconsin, Tammy Baldwin, who is “strongly against crypto,” faces off against Eric Hovde, a candidate leaning toward the industry, in another tightly contested race with both polling around 1.6 million votes 🧵 5/7
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Yevhen
@applestar
⚪ Ohio: A Big Win for Crypto ➖ This was a big pro-crypto win, Bernie Moreno secured the Ohio Senate seat, defeating Brown with 2.8 million votes to Brown’s 2.5 million ➖ Moreno’s victory takes an anti-crypto voice out of the Senate and replaces it with a staunch supporter. Sherrod Brown’s close ties to SEC Chair Gary Gensler made him a thorn in the crypto industry’s side, especially during Gensler’s aggressive regulatory actions ➖ With Brown out, the Senate shifts in favor of those looking to advance crypto-friendly policies 🧵 4/7
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Yevhen
@applestar
⚪ Big Crypto Backing Equals Big Results ➖ Crypto donors didn’t sit this election out ➖ In fact, they pumped an impressive $206 million into campaigns, with the lion’s share, $204 million, flowing into Fairshake, a pro-crypto super PAC, and the rest going directly to SWC ➖ One of the biggest upsets came in Ohio, where pro-crypto Republican Bernie Moreno defeated anti-crypto incumbent Sherrod Brown, who had been no friend to digital assets ➖ It was a pricey race, totaling over $500 million in campaign spending, with Fairshake alone contributing $40 million to help push Moreno to victory 🧵 3/7
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Yevhen
@applestar
⚪ A Wave of Pro-Crypto Wins Sweeps Across Most States ➖ Early results paint a promising picture for the future of crypto. Stand With Crypto (SWC) data shows that pro-crypto candidates have won in nearly every state except a few holdouts like New Mexico, Alaska, Hawaii, Vermont, and Maine ➖ The House of Representatives now includes 247 pro-crypto members, far outpacing the 113 anti-crypto candidates elected, while the Senate brings in 15 pro-crypto advocates compared to 10 anti-crypto newcomers 🧵 2/7
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Yevhen
@applestar
⚪ Pro-Crypto Candidates Sweep the 2024 U.S. Elections ➖ With Donald Trump preparing to head back to the White House, the 2024 elections have delivered a pro-crypto surge across America. A massive 247 pro-crypto candidates now fill the U.S ➖ House of Representatives, while the Senate counts 15 new members ready to push for a more crypto-friendly environment 🧵 1/7
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Yevhen
@applestar
➖ Share your thoughts on this topic. We are interested to hear your opinion👇 🧵 11/11
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Yevhen
@applestar
➖ With a host of crypto-related legislation on the table, this election season could mark a turning point in how digital assets are treated in the United States ➖ Whether you’re a crypto diehard, an industry player, or just crypto-curious, understanding these bills can guide your choices and may shape the future of crypto 🧵 10/11
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Yevhen
@applestar
➖ Keep Your Coins Act: Protecting Self-Custody Rights ➖ The Keep Your Coins Act, introduced by Rep. Warren Davidson, is a pro-consumer bill meant to ensure U.S. citizens’ right to self-custodial wallets ➖ With Davidson advocating for personal control, the bill is designed to prevent regulatory agencies from banning or limiting self-custody ➖ Its future remains uncertain, but the act underscores a core principle in the crypto space, self-sovereignty 🧵 9/11
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Yevhen
@applestar
➖ Blockchain Regulatory Certainty Act ➖ Crypto advocate Rep. Tom Emmer brought the Blockchain Regulatory Certainty Act to the House to exempt blockchain developers and service providers from certain reporting requirements, provided they don’t handle customer funds ➖ The bipartisan bill progressed to the House in July 2023 but has yet to pass either chamber ➖ This legislation has captured the crypto community’s attention as a way to let builders build without regulatory interference 🧵 8/11
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Yevhen
@applestar
➖ Equal Opportunity for All Investors Act ➖ The Equal Opportunity for All Investors Act, introduced by Congressman Mike Flood, aims to widen access to private investments ➖ Instead of focusing only on wealth, this bill allows individuals to qualify as accredited investors by passing a test on financial knowledge administered by the SEC ➖ This bill passed the House but has yet to clear the Senate, aiming to democratize investment access by allowing more people to participate in private offerings 🧵 7/11
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Yevhen
@applestar
➖ Financial Technology Protection Act of 2023 ➖ Rep. Zachary Nunn’s Financial Technology Protection Act seeks to create a working group focused on combatting terrorism and organized crime financing in new technologies ➖ The bill passed the House in early 2024 and heads to the Senate. While not explicitly anti-crypto, it focuses on cracking down on illicit finance, a hot topic in crypto spaces 🧵 6/11
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Yevhen
@applestar
➖ Digital Asset Anti-Money Laundering Act ➖ Senator Elizabeth Warren, a longtime crypto skeptic, has made waves with this bill that places crypto under the same anti-money laundering rules as traditional finance ➖ This anti-crypto act has met backlash, even losing cosponsor Senator Roger Marshall ➖ But Warren’s bill, which has yet to pass either chamber, could be a hurdle for those seeking privacy in crypto 🧵 5/11
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Yevhen
@applestar
➖ Clarity for Payment Stablecoins Act of 2024 Reps. Patrick McHenry, Senators Lummis, and Gillibrand are pushing this act to bring clarity to the stablecoin landscape ➖ A key highlight? It lets smaller stablecoin issuers (with a market cap under $10 billion) be regulated at the state level. The Clarity Act aims to offer a regulatory framework for USD-backed stablecoins, keeping the little guy in play ➖ The bill hasn’t passed either chamber but could offer a practical path forward for stablecoin adoption in the U.S. if it finally gets through 🧵 4/11
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Yevhen
@applestar
➖ CBDC Anti-Surveillance State Act: Keeping Big Brother Out of Your Wallet ➖ Rep. Tom Emmer introduced this bill to bar the Federal Reserve from creating a central bank digital currency (CBDC) that’s consumer-facing ➖ Emmer and others in the crypto community want to ensure that CBDCs aren’t used as a surveillance tool or a means of controlling how and where citizens spend their money ➖ Having cleared the House in May 2024, the bill awaits a Senate vote. Emmer’s vision for freedom from surveillance has attracted attention from both privacy advocates and crypto supporters 🧵 3/11
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Yevhen
@applestar
➖ Financial Innovation and Technology for the 21st Century Act (FIT21) The FIT21 Act, brought forward by Congressman Glenn Thompson in 2023, aims to clarify the rules of the crypto game ➖ By bringing “sufficiently decentralized” digital assets under the Commodity Futures Trading Commission (CFTC), FIT21 sets criteria to distinguish decentralized assets from securities ➖ The bill passed the House in May 2024 and awaits Senate approval. If signed into law, it could end the guessing game and give the SEC the green light to focus on securities rather than stifling innovation 🧵 2/11
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Yevhen
@applestar
⚪ 2024 Congressional Crypto Legislation: A Voter’s Guide ➖ As the 2024 U.S. elections near, digital assets are stepping onto the political stage ➖ For the first time, crypto policy is taking center stage, with executives and advocates pressing candidates for pro-crypto policies to foster the future of finance ➖ Yet, a clear, cohesive framework remains elusive as regulators like the SEC continue to enforce crypto regulations through legal actions rather than actual rule-setting ➖ Here’s a breakdown of key crypto legislation currently up for discussion and how it could impact the crypto world 🧵 1/11
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Yevhen
@applestar
⚪ AI Tokens Are On the Rise, and Fast ➖ Let’s not forget about those AI tokens. The total market cap for AI tokens now stands at $36.7 billion, which is a 100% increase since August ➖ And the trading volume? It’s sitting comfortably at $1.7 billion. For those keeping track, that’s a lot of money flowing into AI-driven crypto. As we gear up for Nvidia’s earnings report in November, experts are already speculating that its results could have a ripple effect on AI token prices. So, if you’re looking for the next big mover in crypto, it might just be AI ➖ Bottom line? AI and crypto are becoming best friends, and VCs are leading the charge. It’s a bullish outlook for the AI sector in the crypto space, and if the trend continues, we could be seeing AI tokens become the new stars of the show 🧵 5/5
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Yevhen
@applestar
⚪ October Brings Even More AI Hype ➖ Data from Kaito shows that AI-themed discussions absolutely skyrocketed in October ➖ AI’s mindshare hit over 50%, meaning more than half of the crypto chatter was all about AI. It’s like everyone woke up one day and realized that AI is the cool kid at the party ➖ If that wasn’t enough, Nvidia’s (NVDA) stock price also surged to an all-time high last week, giving even more weight to AI’s growing dominance. With a 190% increase year-to-date, Nvidia is now the second-best-performing company in the S&P 500 ➖ The connection here? As Nvidia shines, so does interest in AI within the crypto world 🧵 4/5
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