Is the pardoned Silk Road founder getting more involved in US politics?
Ross Ulbricht, the infamous founder of the dark web marketplace Silk Road, made a surprising appearance at a joint session of Congress on March 4th. This unexpected appearance comes less than two months after Ulbricht received a controversial pardon from former US President Donald Trump.
The Silk Road was an online marketplace that operated on the dark web, allowing users to buy and sell illegal goods and services using the cryptocurrency Bitcoin. Ulbricht, who went by the pseudonym “Dread Pirate Roberts,” created and operated the site from 2011 to 2013. During this time, the Silk Road became notorious for its role in facilitating the sale of drugs, weapons, and other illegal activities.
In 2013, Ulbricht was arrested by the FBI and charged with multiple counts of drug trafficking, money laundering, and computer hacking. He was ultimately sentenced to life in prison without the possibility of parole in 2015. However, in a controversial move, former President Trump granted Ulbricht a full pardon in his final days in office.
Ulbricht’s appearance at the joint session of Congress was met with mixed reactions. Some praised his courage for speaking out against the harsh sentencing laws for non-violent drug offenses, while others criticized his actions and the pardon he received.
During his speech, Ulbricht expressed remorse for his actions and acknowledged the harm caused by the Silk Road. He also called for criminal justice reform and urged lawmakers to reconsider the harsh sentences given to non-violent offenders.
While Ulbricht’s appearance at Congress may have been unexpected, it has sparked important conversations about the criminal justice system and the impact of the Silk Road on society. It remains to be seen what the future holds for Ulbricht and the legacy of the Silk Road, but his presence at the joint session of Congress has certainly reignited the debate surrounding his case.
Bitcoin trader eyes $78K BTC price retest as US seen delaying reserve
Senator Cynthia Lummis, a vocal advocate for Bitcoin and cryptocurrency, has issued a warning about the lack of support for a Bitcoin reserve in the US Congress. As the price of BTC continues to fluctuate and momentum stalls, Lummis stresses the importance of having a reserve of the digital currency.
In a recent statement, Lummis expressed her concerns about the lack of understanding and support for Bitcoin among her colleagues in Congress. She believes that this lack of support could hinder the growth and adoption of Bitcoin in the United States.
Lummis, who has been a vocal supporter of Bitcoin since her election to the Senate in 2020, has been pushing for the US government to establish a Bitcoin reserve. This would involve the government holding a certain amount of Bitcoin as a hedge against inflation and as a way to diversify its assets.
However, Lummis has faced resistance from her colleagues who are skeptical about the value and stability of Bitcoin. This lack of support is concerning, especially as other countries such as El Salvador and Ukraine have recently adopted Bitcoin as legal tender.
As the price of BTC continues to fluctuate and momentum stalls, Lummis believes that having a Bitcoin reserve could provide stability and security for the US economy. She also argues that it would be a wise move for the government to diversify its assets and not rely solely on traditional forms of currency.
Lummis’ warning comes at a time when the cryptocurrency market is experiencing a dip in prices, with BTC dropping below $40,000. This has caused some investors to panic and sell their holdings, leading to further price drops. However, Lummis remains confident in the long-term potential of Bitcoin and urges her colleagues to educate themselves and support the adoption of a Bitcoin reserve.
In conclusion, Senator Cynthia Lummis’ warning about the lack of support for a Bitcoin reserve in the US Congress highlights the need for greater understanding and acceptance of cryptocurrency. As the world becomes increasingly digital, it is crucial for governments to adapt and embrace new forms of currency, such as Bitcoin, to ensure economic stability and growth.
Animoca Brands revenue climbs as AI cuts costs by 12%
Animoca Brands co-founder and executive chairman Yat Siu expects continued growth through 2025 due to a more crypto-friendly regime in the US.
Bitcoin will ‘likely continue to consolidate’ in this pullback phase — Analyst
Bitcoin long positions may “become viable” after long-term seller supply increases again, says one crypto analyst.
Metaplanet stock jumps 19% as it buys the dip with 497 Bitcoin purchase
Metaplanet, a Japanese investment firm, has made headlines once again this week with its recent purchase of Bitcoin. This move has caused a surge in the company’s share price, which has already risen by 19% during the Tokyo trading day.
This is not the first time that Metaplanet has made a bold move in the world of cryptocurrency. In fact, just a few days ago, the company made its first Bitcoin purchase, which also resulted in a significant increase in its share price. This latest purchase only solidifies Metaplanet’s interest and confidence in the digital currency market.
But what exactly is driving Metaplanet’s interest in Bitcoin? It seems that the company is not alone in its belief that Bitcoin has a promising future. In recent years, we have seen a growing number of institutional investors and companies, such as Tesla and MicroStrategy, adding Bitcoin to their portfolios. This has not only increased the legitimacy of Bitcoin as a viable investment option, but it has also sparked a surge in its value.
Furthermore, the ongoing pandemic has also played a role in the rise of Bitcoin. With the global economy facing uncertainty and traditional markets experiencing volatility, many investors are turning to alternative assets like Bitcoin to diversify their portfolios and protect their wealth.
Metaplanet’s decision to invest in Bitcoin not once, but twice, in such a short period of time is a clear indication of the company’s confidence in the digital currency. And with the recent surge in its share price, it seems that this confidence is shared by many others in the market.
As the world continues to navigate through these uncertain times, it will be interesting to see how Bitcoin and other cryptocurrencies continue to evolve and attract the attention of investors like Metaplanet.
As Trump tanks Bitcoin, PMI offers a roadmap of what comes next
The US manufacturing sector has been showing signs of a positive turnaround in recent months, with the purchasing managers’ index (PMI) reaching expansion levels for two consecutive months. This is a promising development that could potentially lead to a much-needed boost in the overall business cycle.
The PMI is a key economic indicator that measures the health of the manufacturing industry by surveying purchasing managers from various companies. A reading above 50 indicates expansion, while a reading below 50 signals contraction. After months of struggling to stay afloat, the US manufacturing PMI has finally crossed the 50 mark, indicating a shift towards growth.
This positive trend is a result of various factors, including the gradual reopening of businesses and the easing of lockdown restrictions. As more and more companies resume operations, the demand for goods and services has increased, leading to a rise in production and employment. This, in turn, has boosted consumer confidence and spending, further fueling the growth of the manufacturing sector.
Another contributing factor to the PMI’s expansion is the government’s efforts to support the economy through stimulus packages and low-interest rates. These measures have provided much-needed relief to businesses and helped them weather the storm caused by the pandemic. As a result, many companies have been able to resume operations and ramp up production, leading to an overall improvement in the manufacturing sector.
While the road to recovery may still be long and uncertain, the recent expansion of the US manufacturing PMI is a promising sign that the economy is slowly but surely moving in the right direction. As businesses continue to adapt and innovate in the face of challenges, we can hope to see sustained growth and a positive reversal in the business cycle.
Is crypto’s ‘Trump effect’ short-lived?
After the highly anticipated inauguration of President Joe Biden, the cryptocurrency market experienced a slight dip in prices. This was not entirely unexpected, as many analysts predicted a post-inauguration cooldown. However, if Biden’s administration fails to deliver on their promises, it could have a more significant impact on market sentiment.
The cryptocurrency market has been closely following the political landscape, particularly in the United States, as the new administration’s policies and actions could have a significant impact on the industry. During his campaign, Biden promised to provide clarity and regulations for the cryptocurrency market, which has been a major concern for investors and businesses alike.
However, as the new administration settles in, there has been a lack of concrete actions towards fulfilling these promises. This has caused some uncertainty and hesitation among investors, leading to a slight dip in prices. As one analyst told Cointelegraph, if this trend continues, it could further dampen market sentiment.
Despite this, there is still optimism within the cryptocurrency community. Many believe that the new administration will eventually follow through on their promises and provide a more favorable regulatory environment for the industry. In fact, some experts predict that the market will bounce back stronger once there is more clarity and stability in the political landscape.
It is also worth noting that the dip in prices is not unique to the cryptocurrency market. The stock market also experienced a similar trend, with investors taking a cautious approach as they wait to see how the new administration’s policies will unfold.
In conclusion, while the post-inauguration cooldown in the cryptocurrency market may have caused some concern, it is not entirely unexpected. As the new administration settles in and takes action towards their promises, it is likely that market sentiment will improve. In the meantime, it is essential for investors to stay informed and cautious, as the political landscape continues to evolve.
FTX and Alameda wallets unstake $431M in SOL
FTX and Alameda unstaked 3 million Solana tokens worth $431 million, marking their largest SOL unlock since November 2023.
Traders longing ADA futures spike after Trump’s crypto reserve reveal: Bitrue
The world of cryptocurrency is constantly evolving and gaining more mainstream attention. With the recent surge in popularity of Bitcoin, it’s no surprise that other cryptocurrencies are also making waves. One such cryptocurrency is ADA, which has caught the eye of none other than former US President Donald Trump.
In a surprising move, Trump has announced plans to include ADA in a US strategic Bitcoin reserve. This news has sent shockwaves through the cryptocurrency community, with many speculating on the potential impact this could have on ADA’s value.
But why ADA? Well, for starters, it is the native token of the Cardano blockchain, which has been gaining traction as a more energy-efficient and sustainable alternative to other blockchain networks. This aligns with Trump’s recent focus on promoting American energy independence and reducing carbon emissions.
Furthermore, ADA has been performing well in the market, with its value steadily increasing over the past few months. This has caught the attention of futures traders, who are now bullish on ADA’s future prospects. With Trump’s endorsement, it’s likely that more investors will flock to ADA, driving its value even higher.
But it’s not just about the financial aspect. Trump’s support for ADA also brings more legitimacy to the cryptocurrency world, which has often been met with skepticism and criticism. This move could potentially pave the way for other cryptocurrencies to gain recognition and acceptance in mainstream circles.
Of course, there are still many unknowns and uncertainties surrounding this development. Will Trump’s plans come to fruition? How will it impact the overall cryptocurrency market? Only time will tell. But one thing is for sure, the inclusion of ADA in a US strategic Bitcoin reserve is a significant step towards the widespread adoption of cryptocurrencies.
XRP, ADA, SOL go parabolic after Trump US crypto reserve post: Will other altcoins follow?
The cryptocurrency market has been buzzing with excitement after President Trump’s recent post about a potential crypto strategic reserve. This news has caused a surge in the prices of popular altcoins such as XRP, ADA, and SOL, leaving many wondering if other altcoins will follow suit and experience a similar rally.
XRP, the native token of the Ripple network, saw a significant increase in value following the President’s tweet. This comes as no surprise, as XRP has been making waves in the crypto world with its fast and low-cost transactions. With the potential for a crypto strategic reserve, XRP could see even more adoption and growth in the future.
Another altcoin that saw a surge in price is ADA, the native token of the Cardano blockchain. ADA has been gaining traction in the market due to its unique approach to blockchain technology and its focus on scalability and sustainability. With the possibility of a crypto strategic reserve, ADA could see a boost in demand and value.
SOL, the native token of the Solana blockchain, also experienced a rally after the President’s post. Solana has been gaining attention for its high-speed transactions and low fees, making it a promising platform for decentralized applications. A crypto strategic reserve could further solidify Solana’s position in the market and attract more investors.
But the question remains, will other altcoins join in on the rally? It’s difficult to predict, as the crypto market is highly volatile and influenced by various factors. However, the idea of a crypto strategic reserve has sparked excitement and optimism among investors, which could lead to a domino effect in the market.
In conclusion, the recent news of a potential crypto strategic reserve has caused a surge in the prices of XRP, ADA, and SOL. These altcoins have shown promising potential in the market and could see even more growth with the implementation of a strategic reserve. Only time will tell if other altcoins will follow suit, but one thing is for sure, the crypto world is full of surprises and opportunities.