Cryptocurrencies and Artificial Intelligence in the U.S.: What is the need for a bitcoin-reserve?
A reserve is something Sen. Cynthia Lummis proposed to create. She proposed last year that the US government buy 200,000 bitcoins a year for five years until they reach one million.
However, there are major questions about how the U.S. could legally start such a bitcoin fund, and many critics warn of serious consequences since Bitcoin is notorious for its volatility and would directly expose the U.S. government to any sharp losses.
In a speech at a crypto conference in Nashville in July, Trump said the government could start the stockpile with the bitcoin tokens it has seized from various bad actors. The US is thought to hold over 200,000 virtual coins, amounting to $19 billion at current market prices.
Cryptocurrencies like bitcoin have been on a wild ride lately. Bitcoin is becoming more mainstream after the Securities and Exchange Commission approved investment funds early last year that track the price of the currency. Analysts believe forms of crypto could see a game-changing year in 2025. Here are the things that you should watch.
“We have to regulate the space,” she says, calling the move towards a friendlier legislative environment for the crypto industry “a step in the wrong direction.”
Alexander worries professional traders could take advantage of, and benefit at the expense of regular investors, comparing it to a soccer game between two teams without a referee.
Carol Alexander, a professor at the University of Savoy who is well-known for her expertise on digital assets and her successful track record in forecasting the price of bitcoins, is worried about the prospects of friendlier legislation.
The House Financial Services Committee has a new chair. A former community bankers in his home state, Hill advocated for policies to develop artificial Intelligence and cryptocurrencies, making him an ally of the incoming Trump administration.
David Sacks, a well-known venture capitalist, was appointed by Trump as the nation’s first crypto and artificial intelligence czar.
Crypto Cryptanalysis of the Securities and Exchange Commission (SEC) Action against Coinbase and Coinbase; Up First newsletter for All the Bitcoin-related News and Events
There are reasons for the optimism. A big one is that bitcoin is becoming more mainstream after the Securities and Exchange Commission (SEC) reluctantly approved investment funds that track the price of bitcoin early last year.
The popularity of exchange traded funds allows regular investors a way to get exposure to the currency without paying a lot.
Although Trump is not president yet, he is delivering on one of his promises: selecting regulators and policymakers who will be less hostile to Cryptocurrencies, including his own family.
The SEC, led by Gary Gensler, took aggressive enforcement action against key crypto players such as Coinbase as part of a legal battle to get them to comply with Wall Street regulations.
Good morning. You’re reading the Up First newsletter. In order to receive it, you must subscribe, and you can also subscribe to the Up First podcast for all the news you need to start.
Jimmy Carter’s funeral services begin in DC. And, photos from the major winter storm justin Trudeau resigns
The remains of former President Jimmy Carter are set to arrive in Washington, D.C., today. He will be honored with a ceremony at the U.S. Capitol, where he will lie in state. The public will be able to pay their respects until Thursday morning. His remains will be taken toWashington National Cathedral for his funeral service. Watch today’s funeral events here and tune in at 4 p.m. ET for NPR’s live special coverage.
Trudeau, the leader of Canada, has resigned after nearly a decade in power. His handling of the economy, immigration, and other issues made him the subject of growing calls from across the country for him to step down. Trudeau stated that he will no longer lead the Liberal Party but will remain in office until a successor is selected.
The Biden administration has transferred 11 Yemeni detainees from the U.S. military prison in Guantánamo Bay, Cuba, to Oman. The detainees, all men, were captured in the aftermath of the 9/11 terror attacks and had been held at Guantánamo Bay for over two decades without being charged or put on trial. Their release leaves 15 prisoners at the location, cutting the number of inmates in half. Biden’s final push to close the detention facility involves the inmates’ release.
The Minneapolis City Council: A Winter Storm During the George-Flay-Bolta-Royal Era
The Minneapolis City Council voted unanimously yesterday to join an agreement with the U.S. Department of Justice to reform its police department. The deal is intended to address decades of discriminatory policing. The killing of George Floyd caused huge protests around the country and the world, and the decision comes almost five years later.
A winter storm is bearing down on the eastern and central U.S. A large snowstorm, ice, rain and winds have wreaked havoc in multiple states. At least four people have been killed, dozens have been injured, and hundreds of thousands of customers are without power as a result of the storm. See photos of the impact of the winter storm.
