Malaya Ruiz
As we get into a new chapter of this mess that’s gotten crypto entangled with U.S. presidential candidates, let’s do a little history recap. 📜 So you all probably remember that in 2020, the SEC accused Ripple, their CEO, and a founder of violating securities laws. It was like they had mined a block full of trouble. Fast forward to 2023, and Coinbase, the big dog of U.S. crypto exchanges, found itself in hot water with the same accusations. ⚖️👨🏻⚖️ The name Gary Gensler, Joe Biden’s appointed SEC Chair, has been in crypto news headlines. 📰
Key Points
- As we get into a new chapter of this mess that’s gotten crypto entangled with U
- presidential candidates, let’s do a little history recap
- 📜 So you all probably remember that in 2020, the SEC accused Ripple, their CEO, and a founder of violating securities laws
Anyway, the SEC eventually dropped the charges against the Ripple honchos, but both companies are adamant that they did nothing wrong. 🤷🏽♀️ You could say they HODL’d their ground pretty well. 🤓
From those days until now, crypto investors have been feeling a bit like miners hitting a tough block, grappling with SEC regulations and a regulatory agenda that’s about as confusing as a blockchain without hash power. 😵 Enter stage left: Trump who’s done a 180 from crypto hater to “crypto president”—the man who supposedly has a soft spot for the digital gold rush. 🤑💸 Some skeptics are still unsure but he’s much closer to crypto fans’ hearts than his opponent! 🤩🤭 With Trump urging voters to say goodbye to boring regulations and hello to a crypto party in the USA, it’s pretty obvious why. 🥳🎉
As the battle for crypto supremacy rages on, Joe Biden supporters are scrambling to figure out how to play their cards right. 🥱 Gary Gensler is all about cracking down on digital currencies, making it harder for crypto enthusiasts to see the Biden administration in a positive light. So now Biden’s team is in a tizzy over his supposed beef with crypto, staging a dramatic intervention at the White House to plead their case. 🍿🥤
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
What would it take for Hollywood to do a reality show on this political horseplay? 📺
But it looks like Biden’s team finally decided to hop on the crypto train after seeing the effect of Trump’s full-on crypto endorsement. They’re even chatting with Coinbase about accepting donations! 📩💰Unfortunately, it’s not surprising that at a recent White House meeting, one attendee told Biden’s senior adviser Anita Dunn, “You guys suck on crypto.” 😲 Ouch, that stings worse than a long bear market!🤕🤒
Related: The History of Altcoins: How Bitcoin’s Rivals Changed the Crypto Game
With crypto becoming a make-or-break issue on the political stage, the question still stands: Are these crypto crusaders putting all their coins in one basket by hitching their wagons to U.S. presidentiables? 👻 Time will tell if their moon shot pays off. 🚀😬
Warning: Exposure to this content may result in an increased awareness of political boohockey and a decreased tolerance for empty promises. Side effects may include a boost in your crypto holdings and the realization that your financial future lies in your hands, not in the hands of politicians.
MALAYA RUIZ
Malaya is dedicated to helping individuals share meaningful narratives about crypto, blockchain, and future tech. Her extensive experience in editing, copywriting, and publishing gives her a deep understanding of the craft of storytelling and collaboration, which she channels through Shiba Inu's official publications. Malaya owns two dogs and therefore has a special admiration for the Shiba Inu breed.
