Regulation
Charles Hoskinson Contests Elon Musk & Robert Kiyosaki On Trump RNC Speech
In a recent series of public statements, prominent tech and financial figures weighed in on former President Donald Trump’s speech at the Republican National Convention (RNC). While some hailed it as a masterclass, others saw it as a missed opportunity. The debate was notably highlighted by Cardano founder Charles Hoskinson’s critical stance against supportive comments from Elon Musk and Robert Kiyosaki.
Charles Hoskinson Criticizes Trump’s RNC Speech
Cardano creator Charles Hoskinson offered deemed Donald Trump‘s latest speech as one of the “biggest missed opportunities.” Hoskinson stated, “I couldn’t help but think it was one of the biggest missed opportunities for a powerful, emotional, and unifying timeless piece of speechcraft.” He argued that instead of delivering a visionary address, Trump’s speech was marred by reflections on past grievances and policy disputes.
Hoskinson lamented that the speech did not address many important issues. In addition, he called it a “sad” moment for the Republican party but expressed confidence in Robert Kennedy Jr. as a potential unifying leader. The Cardano founder further highlighted the current state of the Democratic Party.
He described it as “a headless government and platform” with Biden being “actively replaced behind the scenes.” He emphasized the need for genuine leadership and democratic consent. Additionally, Hoskinson criticized the notion of an open convention replacing the primary process.
He suggested that America desperately needs a unifying vision and leadership. The Cardano founder contrasted Trump’s RNC speech with Ronald Reagan’s 1980 acceptance speech and his first address to Congress after being shot, both of which he considered exemplary.
Also Read: Elon Musk Ends This Feature On X Amid Trump vs. Biden Saga
Elon Musk & Robert Kiyosaki’s Comments
James Calacanis, a well-known entrepreneur and angel investor, praised Trump’s ability to connect with a wide audience. He claimed, “Trump is flipping every moderate I know… and many life-long democrats, by speaking to all Americans in a way that the democrats have forgotten how to do.”
Calacanis emphasized the importance of a positive message and the need for Democrats to create a “big, non-judgmental tent” and truly listen to their constituents. Elon Musk, CEO of Tesla and SpaceX, echoed Calacanis’ sentiments by agreeing with his statement.
Meanwhile, Robert Kiyosaki, renowned author and Bitcoin advocate, lauded Trump’s performance at the RNC. He described the event as “electric on fire” and Trump as “amazing” and “bullet proof.” Moreover, Kiyosaki criticized President Joe Biden and his administration.
In addition, Kiyosaki accused them of increasing inflation and compromising national security. He asserted that Trump’s plan was simple: “Do business or get poor. Keep America’s military strong or we kick your ass. Bring jobs back and get America producing. Stop handing out welfare checks. And drain the swamp of blood-sucking government bureaucrats.”
Kiyosaki expressed his belief that Trump, along with JD Vance as Vice President, would ensure 12 years of sound governance. Additionally, he expects Trump leadership to make “America great, rich, and powerful again.”
As the 2024 presidential election approaches, these divergent views reflect the broader national discourse. The contrasting opinions of Elon Musk, Robert Kiyosaki, and Charles Hoskinson offer a snapshot of the intense debate that will reshape the political landscape. Moreover, crypto stalwarts like Vitalik Buterin opposed single issue voting for pro-crypto candidates like Trump.
Also Read: Donald Trump’s Big Money Raise From Bitcoin Conference Is Bullish For Crypto
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.
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.
The Federal Deposit Insurance Corporation (FDIC) has updated its guidelines, enabling banks to engage in cryptocurrency-related activities without seeking prior approval. This new policy shift signals a change in the FDIC’s approach to the growing role of digital assets in the banking sector.
New FDIC Guidelines on Crypto-Related Activities
The FDIC has issued a new Financial Institution Letter (FIL-7-2025), which provides updated guidance for banks looking to engage in cryptocurrency activities. The new guidance rescinds the previous policy set out in FIL-16-2022, which required banks to notify the FDIC before engaging in such activities.
Under the new rules, banks can now participate in permissible crypto-related activities without waiting for FDIC approval, as long as they manage the risks appropriately.
This change is seen as a shift in the FDIC’s stance, following the agency’s earlier stance that required prior approval for crypto engagements. FDIC Acting Chairman Travis Hill expressed that this new approach aims to establish a more consistent framework for banks to explore and adopt emerging technologies like crypto-assets and blockchain.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” said Hill in a statement.
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.
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