Newsletter: Trump horrifies even some of his crypto-steeped fans by launching a memecoin before his inauguration, and a flurry of activity from the new administration signals what’s in store for the crypto world in the next four years. www.citationneeded.news/issue-75/ - ThreadSky

molly.wiki • 37 days ago

Newsletter: Trump horrifies even some of his crypto-steeped fans by launching a memecoin before his inauguration, and a flurry of activity from the new administration signals what’s in store for the crypto world in the next four years.

https://www.citationneeded.news/issue-75/

Comments

urlcannonbear.bsky.social•36 days ago

One side in a "fight" has to lose...and sometimes it's you...

quercus48.bsky.social•37 days ago

I think most of us know where the crypto craze is going. Expect many tears

jeremyosner.bsky.social•35 days ago

Say, I'm confused about how the billions of (illusory) capital gains associated with launching a meme coin would be untaxed

molly.wiki•34 days ago

as with stocks, you're only taxed when you sell (or swap), so he would only pay taxes on what he was actually able to cash out.

jeremyosner.bsky.social•34 days ago

Oh yeah, of course. This is why people do not come to me for tax advice

molly.wiki•37 days ago

First, a note about my work. I am entirely funded by readers like you, and your support will be crucial going into what is clearly going to be a very busy four years.

https://www.citationneeded.news/signup

molly.wiki•37 days ago

Trump’s memecoin did not exactly receive a warm welcome from much of the crypto world, who were horrified that their crypto president would tarnish the industry’s sterling reputation by doing a blatant cashgrab.

ramannanda.bsky.social•37 days ago

“Sterling reputation”

molly.wiki•37 days ago

In my view, the memecoin launch only adds to Trump’s long list of already very serious conflicts of interest and unethical activities.

molly.wiki•37 days ago

The industry’s high hopes for a crypto-focused day one in office quickly sank. However, Trump eventually got around to them later on, issuing a pardon for Silk Road creator Ross Ulbricht on day two.

molly.wiki•37 days ago

The much-awaited crypto executive order came later on. Instead of establishing a “bitcoin strategic reserve”, Trump created a committee to think about whether to recommend he establish a stockpile from digital assets already held by the government.

molly.wiki•37 days ago

Other agencies, such as the SEC, have already sprung into action to push Trump’s deregulatory agenda, however. And Elon is trying to pump Dogecoin again, this time with the backing of the government.

ispeaknerd.bsky.social•37 days ago

crime is legal now ig

donmonchito.bsky.social•37 days ago

This is what influencers have been doing with Spanish communities since 2020-21. The collapse of the dollar is imminent and it will serve to escape, if you can with a bag of money, but in the BRICS the crypto or cryptos will be entirely yours. Very soon on your screens

epc108.bsky.social•36 days ago

Just…thank you!

programmerman.net•37 days ago

I definitely laughed at citation 3 (not the tweet or the sentence in the newsletter but the literal text "Tweet by 0xdumbass69")

1000bookslater.bsky.social•37 days ago

😹
V.Buterin: “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 & hold the coin, & this increases the value of their holdings passively.”

1000bookslater.bsky.social•37 days ago

Isn't their whole push to crack the U.S. banking fortress/U.S. economy so they can convert their crypto into spendable cash? So Trump doing a very visible rug pull would be bad PR imaging?😺
I can hardly wait.

fry69.dev•37 days ago

-> https://bsky.app/profile/fry69.dev/post/3lgijigtc3s2p

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