Notices by Molly White (molly0xfff@hachyderm.io), page 2

To be clear: the crypto executive order does not itself create a digital asset stockpile. It instructs the working group to "evaluate the potential creation and maintenance" of such a thing.

The people who were most excited about a bitcoin stockpile were mostly looking at the proposals by RFK Jr., Sen. Lummis, etc. who had proposed going out and buying a bunch of BTC for a "strategic reserve" (thus pumping the BTC price), and this does not look like that.

The most meaningful portion of this will likely be the regulatory changes to come, though those were pretty clearly coming regardless of any EO.

#crypto #cryptocurrency #USpolitics #USpol

Crypto executive order establishes a digital assets working group to recommend regulatory changes and advise on a digital asset stockpile, prohibits the development of a central bank digital currency (CBDC), and revokes Biden's crypto EO.

https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/

#crypto #cryptocurrency #USpolitics #USpol

Regarding the stockpile, I suspect bitcoiners are going to be upset that it is now a "digital asset" stockpile and not a bitcoin stockpile. Furthermore, echoes Trump's original idea of establishing such a stockpile by merely not selling off cryptos seized by law enforcement.

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My immediate thoughts: this is mostly symbolic. The revocation of the previous EO doesn't do much (because the prev EO didn't do much), and although a lot of people have blustered about banning the creation of a CBDC, no US entity ever really pursued creating one.

#crypto #cryptocurrency #USpolitics #USpol

A tweet from Senator Cynthia Lummis (who holds bitcoin) has caused a spike in BTC price. Many hoped that she would be announcing the "strategic bitcoin stockpile", but it seems she's just announcing her confirmation as chair of the Senate Banking Subcommittee on Digital Assets.

#crypto #cryptocurrency #bitcoin #USpolitics #USpol

@Dave3307 maybe someday i'll have a boring day again...

@HannahClover i have gotten accusations of bias in both directions *in the same conversation* before

@michaelmelanson thank you!

somewhere, someone is trying to dig through my years of wikipedia editing history to prove my sinister influence, only to be driven mad by having to paw through reams of edits on things like figuring out how we should spell the name of Michael Keaton’s character in Beetlejuice

@thepoliticalcat @keet it’s a shame their project to rewrite the bible without all the woke parts never really took off

@rhm both?

having succeeded in purchasing positions of influence inside the White House, the billionaires and tech VCs have now set their sights back on Wikipedia

@VaylLarkinPoet i am not dismissing those who despair or give up. but i do not understand what compels them to try to convince others to do the same.

for those who believe nothing can get better: you don't have to get in the way of those who do

@neurovagrant honored to be recommended alongside those pubs!

@mekkaokereke @GottaLaff @dave @SnowshadowII likewise, very few issues!

@Michael gosh no

@chuckthewriter lol no, that was just the poster spelling it wrong

i was not expecting the “gary gensler didn’t do enough to crack down on crypto” pivot

#crypto #cryptocurrency #USpolitics #USpol