The US Presidential Candidate Vivek Ramaswamy Applauds Grayscale Victory in Federal Court
The recent victory of Grayscale Investments in the federal court has been praised by US presidential candidate Vivek Ramaswamy. He believes that this decision opens the path for Bitcoin and blockchain innovation to stay in the US. Ramaswamy trusts that the federal courts can prevent government agencies from overreaching their power. He criticizes what he calls the “shadow government” in Washington, DC and promises to eliminate unnecessary regulations if elected.
Ruling Reverses Listing Block for Grayscale Investments
- The federal court ruling allows Grayscale Investments to revisit a Securities and Exchange Commission (SEC) order.
- This leads to the reversal of a listing block, enabling the listing of Grayscale Bitcoin Trust on the NYSE Arca exchange.
- Grayscale Investments initially aimed to convert its GBTC closed-end fund into an exchange-traded fund (ETF).
Trump Endorses Ramaswamy as Potential VP Candidate
- Former President Donald Trump has endorsed Vivek Ramaswamy as a potential vice president candidate in the 2024 US election.
- Trump praises Ramaswamy’s intelligence, talent, and energy, considering him a distinguished person.
- Ramaswamy has also mentioned Elon Musk as a potential advisor if he wins the election.
Debate on the US Dollar’s Reserve Currency Status and FTC Caution on Cryptocurrency Scammers
- Former President Trump has raised concerns about the weakening status of the US dollar as the reserve currency.
- This has sparked speculation in the crypto community that Bitcoin could become a viable alternative.
- The Federal Trade Commission (FTC) recently warned consumers about scammers demanding payment in cryptocurrencies.
- Comprehensive regulation in the crypto sector is still awaiting a legislative framework.
Hot Take
Vivek Ramaswamy’s support for Bitcoin and blockchain innovation in the US, along with endorsements from former President Trump and potential advisor Elon Musk, indicates a growing recognition of the importance of cryptocurrency in politics. However, the lack of comprehensive regulation and ongoing debates about the US dollar’s reserve currency status highlight the need for further development in the crypto space.
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