Regulation
Cardano’s Charles Hoskinson & Ex-Ripple Alum Offer Fiery Critique On Biden’s Dementia
In a recent social media exchange, prominent figures in the cryptocurrency world voiced sharp criticisms regarding President Joe Biden’s cognitive health. Cardano founder Charles Hoskinson and former Ripple director Sean McBride joined the conversation. Moreover, they expressed concerns about Biden’s mental fitness and the Democratic Party’s handling of his candidacy.
Charles Hoskinson & Former Ripple Director Take Aim At Biden
On X, Charles Hoskinson ignited the debate by highlighting what he saw as the irony in media outlets now scrutinizing Biden’s performance. In addition, he criticized the Democratic Party for not holding a primary that could have revealed Biden’s cognitive decline. He stated that voters were left with no real choice.
Furthermore, Hoskinson suggested that the lack of a primary amounted to the party making decisions for the voters. Additionally, the Cardano founder presented them with a stark choice between “a dementia puppet or the party deciding for you.” However, a user on X countered Hoskinson’s claims. They argued that while there were no debates, it is not unusual for an incumbent president to avoid serious primary challenges.
They also pointed out that recent incumbents like Trump, Obama, Bush, and Clinton did not face significant primary debates either. Hoskinson responded by questioning the legitimacy of the primaries. In addition, he suggested that when super delegates indicate that even 100% of the votes wouldn’t guarantee a win for a candidate, it undermines the democratic process.
Fox Business journalist Charles Gasparino also weighed in, expressing his discomfort with people diagnosing Biden with dementia on social media. He emphasized the severity of the situation if Biden is indeed experiencing significant mental decline and it is being concealed by those around him. Gasparino argued that such a cover-up could be one of the most significant presidential scandals, potentially rivaling Watergate, due to the implications for national leadership.
McBride, picking up on Gasparino’s points, bluntly asserted that it is “obvious” Biden is suffering from dementia. Moreover, the former Ripple alum asserted that Democratic elites have been covering up the extent of his decline. In addition, he drew a parallel between the administration’s actions against Donald Trump’s campaign and the Watergate scandal.
Also Read: Charles Hoskinson Flags Major Ongoing AI Censorship Trend
45% Democrats Vote For Presidential Candidate Replacement
The debate over Biden’s cognitive health has intensified, especially as he prepares for a critical election period. During a debate watch at an assisted living facility in Washington, residents were visibly concerned about Biden’s performance. Moments such as his inexplicable remark, “We finally beat Medicare,” left viewers questioning his capability.
The perception of older voters is crucial for Biden, as they are a demographic that turns out in large numbers at the polls. In the 2020 election, Biden lost voters aged 65 and older to Donald Trump by a narrow margin and is now aggressively courting this group. However, incidents that highlight his age-related vulnerabilities are likely to hinder these efforts.
In addition, recent polls indicate a growing unease among Democratic voters about Biden’s viability as the party’s nominee. Furthermore, a CBS News poll revealed that 45% of Democratic voters think Biden should step aside and not seek re-election. This sentiment reflects broader concerns within the party about Biden’s ability to lead effectively amid ongoing questions about his mental acuity.
Also Read: Trump Vs Biden: Mark Cuban and ChatGPT Predicts Best Pick For President
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In what is being dubbed a major development in the crypto regulation space, the Governor of the US state of Kentucky, Andy Beshear, has signed the ‘Bitcoin Rights’ bill into law. The law promises to safeguard protections for Bitcoin (BTC) users.
Bitcoin Rights Bill Comes Into Effect
Crypto regulations continue to evolve under pro-crypto US President Donald Trump’s administration. In the latest development, Kentucky has become the newest state to enshrine protections for digital asset users.
In an X post published on March 24, crypto advocacy group Satoshi Action Fund announced that Governor Beshear had signed the much-anticipated Bitcoin Rights bill into law. The post stated:
The right to self-custody, run a node, and use of digital assets is now protected for millions of Americans without fear of discrimination.
The bill was first introduced to the Kentucky House by Rep. Adam Bowling on February 19. According to the bill’s description, it seeks to safeguard users’ rights to use digital assets and self-custody wallets. Additionally, it aims to prohibit local zoning changes that discriminate against crypto mining operations.
The legislation outlines guidelines for running a digital asset node and excludes digital asset mining from money transmitter license requirements. It also clarifies that crypto mining or staking is not considered an offer or sale of securities.
On February 28, the bill passed Kentucky’s House of Representatives with a unanimous vote of all 91 representatives in favor. It later passed the Kentucky Senate on March 13, receiving backing from all 37 senators.
Kentucky’s proactive stance toward cryptocurrencies isn’t new. Earlier this year, the state became the 16th US state to introduce legislation seeking to create a Bitcoin strategic reserve.
Meanwhile, neighboring state Arizona is also joining the crypto movement. A recent X post by Bitcoin Laws revealed that Arizona’s House Rules Committee has passed two Bitcoin reserve bills — SB1373 and SB1025. These bills will now head to a full floor vote.
Renewed Optimism Under Trump Administration
Following Trump’s victory in the November presidential election, cryptocurrency regulations in the US are evolving rapidly, with many states introducing legislation aimed at strengthening their digital asset ecosystems and attracting crypto businesses.
Positive changes in crypto regulations are encouraging industry businesses to expand. For instance, leading crypto trading platform Coinbase recently announced plans to hire 1,000 employees in the US.
The Trump administration has also witnessed several lawsuits being dropped against major crypto entities, including Kraken, Coinbase, Gemini, and others. At press time, Bitcoin trades at $87,399, down 0.2% in the past 24 hours.
Featured Image from Unsplash.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.
US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges
The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.
Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.
Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans. Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.
Sonic Labs Makes U-Turn Over Algorithmic USD Stablecoin
In mid-March, Sonic Labs disclosed plans for a yield-generating algorithmic stablecoin for its blockchain. However, new developments in the US regulatory landscape are forcing the company to ditch its algorithmic stablecoin ambitions.
Sonic Labs co-founder Andre Cronje confirmed the change in direction via an X post following the release of the full draft of the STABLE Act by Congress for clearer oversight. According to the text, lawmakers are pushing for a two-year moratorium on algorithmic stablecoin, souring Sonic Labs plans.
Unlike mainstream stablecoins backed by fiat or other commodities, algorithmic stablecoins rely on smart contracts to maintain their peg. The 2022 implosion of Terra’s ecosystem following the de-pegging of its TerraUSD (UST) algorithmic stablecoin stunned regulators.
“We will no longer be releasing a USD-based algorithmic stablecoin,” said Cronje.
In a light-hearted note, community members teased potential strategies for Sonic Labs to sidestep incoming stablecoin regulation. Apart from the loophole of launching the algorithmic stablecoin before the regulation goes live, Cronje teased an algorithmic dirham that will be denominated in USD.
Industry Players Are Bracing For New Stablecoin Regulations
Stablecoin issuers are steeling themselves for incoming stablecoin regulations in the US. While the GENIUS Act and STABLE Act continue to inch forward, there are common denominators in both bills.
For starters, there is the requirement for equivalent reserves at a 1:1 ratio with both bills steering clear of algorithmic stablecoins. The White House is favoring the GENIUS Act over the STABLE Act as lobbyists rally to stifle the possibility of a Conference Committee.
Authorities are targeting stablecoin regulation to reach Trump in two months as issuers jostle for position. Tether, Circle, and Ripple are staking their claims to lead the US government’s ambitions to rely on stablecoins to maintain the dollar’s dominance.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Gold Keeps Outperforming Bitcoin Amid Trump’s Trade War Chaos
Ethereum Analyst Eyes $1,200-$1,300 Level As Potential Acquisition Zone – Details
Bitcoin (BTC) Whales Accumulate as Market Faces Uncertainty
Ethereum May Have Hit Cycle Bottom, But Pricing Bands Signal Strong Resistance At $2,300
Ethereum MVRV Ratio Nears 160-Day MA Crossover – Accumulation Trend Ahead?
Whale Leverages $27.5 Million PEPE Long on Hyperliquid
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum17 hours agoEthereum Bulls Disappointed As Recovery Attempt Fails At $2,160 Resistance
-
Market21 hours agoVitalik Buterin Promotes Ethereum Layer 2 Roadmap
-
Altcoin21 hours agoExpert Predicts Listing Date For WLFI’s USD1 Stablecoin, Here’s When
-
Market20 hours agoGRASS Jumps 30% in a Week, More Gains Ahead?
-
Altcoin19 hours agoPepe Coin Whale Sells 150 Billion Tokens, Price Fall Ahead?
-
Market18 hours agoXRP Falls 12% in a Week as Network Activity Declines
-
Altcoin18 hours agoIs Burger King Teasing Crypto Launch? Decoding Their X Post
-
Market23 hours agoEthereum Drops As Two Whales Face $235 Million Liquidation Risk
✓ Share: