The post Donald Trump ties himself to Bitcoin appeared on BitcoinEthereumNews.com.

Donald Trump, the sexual predator, financial felon, and former president, gave a speech at Bitcoin 2024 in Nashville in which he promised many things that the cryptocurrency industry has been hoping for. These included having the United States hold bitcoin, removing Securities and Exchange Commission (SEC) chairman Gary Gensler, and support for stablecoins. United States Bitcoin Reserve Trump noted that the United States Federal Government currently holds 210,000 bitcoins, and he insisted that if he is elected, it will hold them indefinitely. This isn’t a promise that he’ll likely be able to follow through with, since many of these coins likely have other claims against them. For example, more than 90,000 of these are bitcoins that were seized by the government with the arrest of Heather Morgan and Ilya Lichtenstein for laundering the proceeds of the Bitfinex hack.  ~110k btc 94.6k: bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt 12.3k: bc1qkmk4v2xn29yge68fq6zh7gvfdqrvpq3v3p3y0s 2.8k: bc1qw8pd8qftyfv5d2waz90ulqn5hxxa79j934fmqe last movement was in feb 2024, right after ilya testified during bitcoin fog trial. presumably that means settlement… — Tay 💖 (@tayvano_) July 27, 2024 If Bitfinex ends up receiving these coins, it has stated that it intends to use them first to pay off Recovery Rights Token (RRT) holders from the time of the hack, and 80% of the remainder it intends to distribute to holders of the Unus Sed Leo token, originally created to fill the insolvency in Bitfinex’s balance sheet after trusting a billion dollars with an unlicensed money transmitter, Crypto Capital Corp. Obviously, Trump would fire Gensler Trump received loud cheers from the crowd when he confirmed that he’d replace Gensler as SEC chairman.  This isn’t surprising, as this position is appointed by the president and is very often replaced when a new administration comes into power. Indeed, at the beginning of Trump’s first term, he replaced Barack Obama nominee…

---

Filed under: News - @ July 30, 2024 7:12 am