Weekly Rundown - May 26, 2024

Just enough to keep you guessing . . .

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I’m sure you heard about Trump’s crypto speech to the Libertarians and Biden’s reversal on crypto strategy.

I worked in Congressional politics for most of my 20s. Let’s not get too excited about changes in US political posturing around crypto.

While it’s nice that US presidential candidates have discovered another way to get your votes and money, talk is cheap and they can always change their minds.

First, we need to see new laws and regulations. Then, we need to see how the White House enforces those laws and regulations—and we don’t know when that will happen and who will be president when it does.

I’m old enough to remember when crypto was excited about the Biden administration’s “pro-crypto” advisors after four years of an openly hostile and derisive Trump administration. See how well that worked out?

At the same time, let’s not diminish the significance of recent political developments. The tide isn’t turning. It has turned.

Will that matter more than the good news coming out of China, the Fed’s most recent policy change, or the impact of the halving?

I guess we'll see. I talked about that and key behaviors and metrics in my update for May 23, 2024.

Also, make sure you got my most recent altcoin report. It’s a project that you should pay attention to before everybody else finds out about it!

Look for two or three more altcoin reports this year, possibly more, and other goodies in the coming months.

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Did you miss the market update and altcoin report? Upgrade to the premium plan now so you get those and:

  • 👀 Direct contact with me.

  • 📈 Video and written market analyses so you can make better investment choices.

  • 🧐 Exclusive altcoin reports and special content to stay ahead of the competition.

  • Everything else you get with Crypto is Easy. 

If you want high-level insights into the cause and reasons for the recent shifts in US political posturing on crypto, Politico has you covered. Read its recent article, Crypto’s ‘Huge Moment’ Scrambling US Politics.

What changed the tone in DC?

Crypto advocates did their jobs. Crypto entities threw tons of money at pro-crypto candidates. Trump’s endorsement changed the political calculus.

Read the article for details.

Bottom line: US regulators accused Uniswap of being an unregistered securities exchange and its app of being an unregistered broker. Uniswap will fight US regulators in court.

My take: Another in a long line of literal interpretations of laws that make no sense for crypto. If this goes to court, expect regulators to fail and set another crypto-friendly legal precedent.

Why you should care: One more example of a government agency fighting a losing battle.

Relax and enjoy the ride!

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A note before you go

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