Trump Team Mulls First-Ever White House 'Crypto Czar' Role as Aides Vet Candidates

Trump

Crypto Rally

White House

crypto

Bloomberg

Donald Trump

President-elect Donald Trump's team is in discussions with the digital asset industry about the potential creation of the first-ever White House position solely dedicated to cryptocurrency policy, according to sources familiar with the matter. Aides are reportedly vetting candidates for the role, which could serve as a 'crypto czar' to coordinate policies among federal agencies and engage with industry stakeholders to address issues in the rapidly evolving crypto sector. Advocates are urging for direct access to Trump to ensure effective navigation of the complexities of digital assets. The specifics of the position, including whether it will be a senior staff role, remain unclear.

Regulation

Politics

Crypto

FTX Co-Founder Gary Wang Avoids Prison After Testifying Against Sam Bankman-Fried

Gary Wang

GaryWang

Wang

Sam Bankman

GARY

City Press

BANKMAN

Fried

U.S.

Alameda

Gary Wang, whose full name is Zixiao 'Gary' Wang, co-founder and former chief technology officer of FTX, was spared prison time by U.S. District Judge Lewis Kaplan on November 20 due to his extensive cooperation in the fraud case against the cryptocurrency exchange. Wang, who held a 17% equity stake in FTX and a 10% stake in Alameda Research, had pleaded guilty in December 2022 to fraud charges, including wire fraud, commodities fraud, and securities fraud, after FTX's collapse, which involved the misappropriation of approximately $8 billion in customer funds. He provided critical testimony against FTX founder Sam Bankman-Fried during his trial, revealing that he wrote the software code that allowed Alameda Research to divert FTX customer funds and receive special treatment on the exchange. Judge Kaplan praised Wang's cooperation, which included helping design software to detect securities fraud, and sentenced him to time served with three years of supervised release. The fraud at FTX is considered among the largest financial frauds in U.S. history.

Business

Barry Silbert's DCG Launches Yuma to Boost $TAO Ecosystem

YUMA

Bittensor

Currency Group

Barry Silbert

Yuma

Digital Currency Group (DCG) has launched a new subsidiary named Yuma, led by DCG founder Barry Silbert, to focus on developing the decentralized AI ecosystem within the Bittensor network. Yuma, headed by Silbert in a CEO role, aims to provide startups and enterprises with the necessary resources, including capital, technical support, and operational assistance, to deploy their innovative ideas on the Bittensor blockchain. The initiative reflects a significant investment in decentralized AI, with Silbert expressing strong conviction in the potential of Bittensor and its ecosystem, particularly the $TAO token.

Blockchains

U.S. Treasury Finalizes Outbound Investment Restrictions in China, Hong Kong, and Macau; SEC Approves $4.6M for BitClave Investors

China

The U.S. Treasury has finalized new regulations restricting outbound investments in China, including Hong Kong and Macau. This move is part of the broader Outbound Investment Security Program aimed at enhancing national security. The regulations were highlighted by the Committee on Foreign Investment in the U.S., which noted increased enforcement and active rulemaking for 2024. Additionally, the Securities and Exchange Commission (SEC) announced the approval of a $4.6 million distribution to investors affected by BitClave, a cryptocurrency project. This distribution is intended to compensate those who suffered losses due to the project's issues.

$CHILLGUY Memecoin Surges to $500M Market Cap, Attracting Over 75,000 Holders

memecoin

TikTok

CHILLGUY

twitter

Solana

Chill Guy

moonshot

Chill

The Solana-based memecoin $CHILLGUY, inspired by a TikTok meme, has seen an unprecedented rise in popularity and value. In just a few days, the token's market cap has surged to over $500 million, with trading volumes exceeding $300 million in the last 24 hours. The coin has attracted over 75,000 holders, demonstrating significant retail interest and becoming the 11th largest meme coin on Solana. Its growth has been fueled by organic engagement from TikTok users, with many 'normies' or non-crypto enthusiasts discovering and investing in the coin through the platform. This phenomenon is seen as a potential catalyst for onboarding millions into the cryptocurrency space, with $CHILLGUY potentially becoming a multi-billion dollar meme token.

Memecoin

Markets

Trump Considers 'Bitcoin Bill' Hagerty for Treasury Secretary

Bill Hagerty

Japan

Bitcoin

Treasury

Hagerty

Former President Donald Trump is reportedly considering Senator Bill Hagerty (R-TN) for the position of Treasury Secretary. Hagerty, who was previously Trump's ambassador to Japan and a private equity investor, is among the finalists for the role, alongside former Federal Reserve Governor Kevin Warsh and Apollo CEO Marc Rowan. Known for his support of cryptocurrency and innovation, Hagerty has been described as a champion for these sectors, potentially bringing a pro-innovation mindset to the Treasury Department. His selection would align with Trump's and the MAGA agenda.

Iran's Handala Group Hacks Israel's SSV Blockchain, Stealing 8 TB of Data and $1 Million Bug Bounty

Israel

Mossad

Iran

MOSSAD

Iran has successfully hacked Israel's High Security SSV blockchain network, which is reportedly operated by Mossad. The Iranian Handala hacking group claimed responsibility for the breach, which has resulted in the theft of 8 terabytes of sensitive data, including personal details of operatives. This network is believed to be used by Mossad for financing and money laundering activities. The breach is significant, as the SSV blockchain was considered highly secure, with Mossad even offering a $1 million bug bounty for potential vulnerabilities. The infiltration is part of a broader trend of cyberattacks targeting Israeli organizations, including a recent attempt disguised as an email for Israel's Tourism Program.

Middle East

Hacks

World

Michael Saylor Advocates $51.22 Billion Bitcoin Investment for Microsoft by December 10, 2024

Michael Saylor has urged major corporations, including Microsoft, Berkshire Hathaway, Apple, Google, and Meta, to consider adding Bitcoin to their balance sheets. He argues that these companies, which hold substantial cash reserves, are at risk of diminishing shareholder value. Saylor's comments come as Microsoft prepares to vote on a proposal at its annual shareholder meeting on December 10, 2024, to evaluate the potential investment in Bitcoin. This proposal, introduced by the conservative think tank National Center for Public Policy Research, suggests that Microsoft allocate 1% of its total assets—approximately $51.22 billion based on its reported total assets of $512.16 billion as of June 30, 2024—toward Bitcoin investment. The discussions surrounding this proposal could set a precedent for other tech giants considering similar moves.

Stocks

Coinbase to List Floki Inu (FLOKI) ERC-20 Token on Ethereum Network Starting November 21 at 9 AM PT

Coinbase

FLOKI

Ethereum

Coinbase has announced it will support Floki Inu (FLOKI) on the Ethereum network, with trading set to begin on November 21, 2024, at or after 9 AM PT, contingent on liquidity conditions. Users are advised to only send FLOKI over the Ethereum network to avoid potential loss of funds. FLOKI is categorized as an ERC-20 token and is part of a broader trend of meme cryptocurrencies inspired by figures like Elon Musk. The addition of FLOKI to Coinbase follows the platform's strategy of listing high-volume assets, enhancing its offerings in the competitive cryptocurrency market.

Bhutan's Bitcoin Holdings Reach $1.14B, 12,207 BTC, 3rd Globally

Bhutan

BHUTAN

Bhutan has significantly increased its Bitcoin holdings, now amounting to $1.14 billion or 12,207 bitcoins, which represents 39% of its GDP. This surge in value is attributed to the country's utilization of previously stranded hydropower resources for Bitcoin mining over the past three years. Bhutan now ranks third in government Bitcoin holdings globally, only surpassed by the United States and the United Kingdom. The country's 2023 GDP was reported at $2.9 billion USD, highlighting the substantial impact of Bitcoin on its economy.

Asia

Mining

Coinbase Wallet Launches 4.7% APY Rewards for Holding USDC

USDC

Coinbase Wallet

Coinbase Wallet has launched a new rewards program allowing users to earn 4.7% annual percentage yield (APY) by holding USD Coin (USDC) in their wallets on-chain. This initiative marks the first time that users can earn interest simply by maintaining their USDC holdings within the Coinbase Wallet. The announcement has been made across various platforms, highlighting the opportunity for users to benefit from their USDC assets without additional trading or investment actions.

DeFi

Trump Eyes Pro-Crypto Lawyer Teresa Goody Guillén to Replace Gensler at SEC

Teresa Goody Guillén

CoinDesk

Gary Gensler

Coin Desk

Guillén

BakerHostetler

President-elect Donald Trump is reportedly considering Teresa Goody Guillén, a seasoned securities lawyer with extensive experience in the blockchain sector, to replace Gary Gensler as the Chair of the U.S. Securities and Exchange Commission (SEC). Guillén, currently a partner at BakerHostetler and co-lead of its blockchain team, has a background in SEC enforcement and is known for her pro-crypto stance. Her potential appointment is seen as part of Trump's strategy to overhaul the SEC with a more crypto-friendly approach, aiming for light-touch regulation. Trump's promise to be the 'crypto President' and the backing of crypto firms for Guillén are key factors in this potential shift.

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