https://www.citationneeded.news/issue-94/
"New corruption concerns have emerged around Trump’s cryptocurrency ventures as
reporting has revealed even more troubling connections between his World
Liberty Financial and the Emirati firm MGX. Senator Warren is demanding answers
about the “shady Abu Dhabi firm” that has “already cut deals to get sensitive
American technology while enriching the Trump family’s crypto firm” and is now
poised to take a 15% stake in TikTok. A valuation far below analyst estimates
has also prompted concerns that Trump is steering the platform to allies at
below-market prices.
Meanwhile, the government shutdown has stalled legislative business,
threatening the crypto industry’s timeline to pass industry-friendly laws
before midterm campaigning begins, potentially resulting in a less pro-crypto
Congress. There’s also an unusual wrinkle in the negotiations: one of the
bill’s top lobbyists is married to an FTC Commissioner who Trump tried to fire,
and whose Supreme Court case challenging presidential authority to fire agency
heads could dramatically reshape support for the legislation.
Even in its weakened state, the SEC has begun scrutinizing the wave of over 200
companies that have suddenly pivoted to become crypto treasury firms this year.
The agency is investigating suspicious trading patterns as stock prices of
these companies have spiked in the days
before they announced their crypto
plans. Though this signals potential insider trading investigations, it remains
to be seen whether the hobbled agency can effectively pursue enforcement in an
administration openly hostile to cryptocurrency oversight."
Via Susan ****
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
