Author: Jack Inabinet; Source: Bankless; Compiler: BitpushNews
"Trump's brand of American capitalism faces a 'socialist' backlash from conservatives" - BBC
"Republican senators sound alarm bells over Donald Trump's 'socialist step'" - Newsweek
"Investors worry Trump's Intel deal ushers in an era of US industrial policy" - Reuters
These recent headlines seem to capture the unease among business leaders who watched in shock as the US federal government acquired a 10% stake in Intel.
While the move has divided opinion within the party, drawing rare criticism from hardcore conservatives and applause from those more socialist-leaning, one thing is clear: the script of America's laissez-faire capitalism is being rewritten in real time.
President Trump has already clashed with free-market conservatives at least twice during his second term. In June, his administration approved Japan’s Nippon Steel’s acquisition of U.S. Steel, but only after Washington received a “golden share” that would have given it broad governance rights over the U.S. subsidiary.
Intra-party criticism may be a rare phenomenon in American politics, but Trump has shrugged off this round of conservative condemnation, declaring to followers on Truth Social on Monday that he would do similar deals “all day long.”
In an op-ed for The Hill, an anonymous Republican strategist defended Trump’s takeover of companies like U.S. Steel and Intel, arguing that the moves were justified because their output is “critical to America’s defense needs and national security.”
While the current cryptocurrency holdings by the U.S. government primarily come from criminal assets seized by law enforcement, if the Intel case is any indication, such acquisitions are far from certain.
Since the beginning of his campaign, Donald Trump has promised to make clarity on cryptocurrency a policy priority. Early achievements of the Trump administration include:
Enacting the GENIUS Act legislation, paving the way for mainstream stablecoin adoption
Establishing a strategic cryptocurrency reserve to safeguard government holdings of digital assets
Revitalizing the SEC through a dedicated cryptocurrency task force and “The Crypto Project”
Dismissing major pending regulatory actions against cryptocurrency companies
Trump administration insiders have long insisted on using a “budget-neutral” approach to expand federal crypto asset holdings, and the acquisition of Intel appears to establish a precedent for such purchases.
As the only cutting-edge chipmaker in the United States, Intel plays a key role in securing America’s digital future. Viewed this way, the federal government likely hopes to protect the nation's best interests by holding a stake in Intel, perhaps by guiding production priorities or prohibiting bad practices (like divesting money-losing chip foundries). The Intel acquisition was "funded" by appropriations from the Biden-era CHIPS Act. While the funds allocated by the program undoubtedly cost taxpayers money, they were originally intended for semiconductor research and development, meaning the government's Intel stake was technically "free." Currency modernization has long been imperative. Just as computer chips have played a crucial role in contemporary society, blockchain-based payments are poised to play a significant role in the next generation of financial systems. The passage of the Genius Act underscores this bipartisan acceptance, and while progress in Washington, D.C. is notoriously slow, future legislation could authorize spending on grants aimed at strengthening blockchain payment systems. Such a critical payment network would naturally be classified as vital to U.S. national security, and given the precedent set by the Intel deal, these grants could be considered consideration for an interest in the network's token. Therefore, the only real question now is which crypto asset Washington will choose to embrace. Will the United States consolidate its position as the world's largest national Bitcoin holder, or will it choose another network as the backbone of its digital economy?Whatever the outcome, the precedent has been set: The U.S. government is no longer just a regulator of high tech; it is becoming an active market participant.
SEC Commissioner Caroline Crenshaw, known for her stricter stance on crypto than Gary Gensler, is up for renomination, sending ripples of concern through the crypto industry. Are these concerns justified, or is the reaction overblown?
KikyoElon Musk’s comment on X, claiming Singapore is “going extinct,” sparked widespread debate about the country’s economic and demographic challenges. Key issues include historically low birth rates, an ageing population, reliance on robotics, and concerns over immigration's effect on national identity.
JoyDevelopers have created AI-powered electricity meters that analyse consumer behavior, enabling power companies to detect and address energy theft effectively.
CatherineA 1999 first-edition, shadowless Holographic Charizard Pokémon card, graded PSA 10, is now being auctioned in a new blockchain format on Courtyard.io. Tokenised on the Polygon network, the 30-day auction allows buyers to own a digital version of the card with features like global trading and physical storage options, while maintaining security.
WeatherlyAUSTRAC has launched a dedicated taskforce to tackle financial crimes linked to cryptocurrency ATMs, focusing on money laundering and fraud. The agency will monitor compliance with AML/CTF laws and take strict action against non-compliant operators to address rising risks.
AnaisDespite previously claiming he would control the Federal Reserve, Trump now says he has no plans to remove Jerome Powell as Fed Chair. Powell reaffirms the Fed's independence, while Trump acknowledges presidents cannot directly control its decisions, reflecting tensions between presidential power and central bank autonomy.
KikyoRadiant Capital disclosed that a North Korean actor carried out a $50 million attack in October by posing as a former contractor. This follows a $4.5 million flash loan exploit in January, which led to a suspension of its lending markets.
CatherineBilly Markus, the founder of Dogecoin, recently shared regret about selling 37.37 bitcoins in 2015 for $424,152.54 — a decision that would now be worth over $368 million. Despite stepping away from Dogecoin in 2015, Markus reflects on its impact as a cultural icon while highlighting its true value lies in its community and shared ideals, not just market performance.
Weatherly投资可以零风险吗?这在传统DEX和CEX都是难以做到的……
WeatherlyFloki, in partnership with Mastercard, has launched a zero-fee crypto debit card in Europe, supporting 8 blockchains and major crypto like Bitcoin and Ethereum. Despite this milestone, Floki's price has fallen nearly 7% in the past 24 hours amidst market volatility.
Catherine