Kamala Harris is reportedly considering Michigan Senator Gary Peters as her running mate for the 2024 presidential election, according to a recent article from Axios.
The suggestion to include Peters on the ticket is primarily driven by labor unions, who believe his addition could boost Harris’s appeal in the crucial battleground state of Michigan.
Axios reports that Peters is open to the idea of joining Harris as her vice-presidential candidate and is currently seeking support from fellow Democrats to bolster his position.
Gary Peters has a notable stance on cryptocurrency. Stand With Crypto, a nonprofit political advocacy group, describes him as “strongly against crypto.”
The group highlights his co-sponsorship of the Digital Asset Money Laundering Act in 2023, aimed at preventing the use of cryptocurrencies in financing terrorism.
This legislation sought to restrict the use of digital assets in such activities, with Peters writing to National Security Advisor Jake Sullivan: “Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism.”
Despite his tough stance on crypto, Peters has shown some flexibility.
He supported the repeal of SAB-121, which would have required banks holding digital assets for customers to record these as liabilities on their balance sheets.
In contrast, Kamala Harris has remained largely silent on her policy direction for digital assets under a potential administration.
However, there are differing views on her approach. Entrepreneur Mark Cuban suggests Harris is “far more open” to business and innovation than is commonly believed, while Riot Platforms CEO Jason Les is skeptical that she would diverge significantly from the Biden administration’s policies.
Adding to the discourse, some Congressional Democrats have urged Harris to shift from the party’s perceived hostility toward cryptocurrencies and engage in dialogue with the digital asset industry.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
In a significant crackdown on financial fraud, Hong Kong police have arrested four individuals, including a 14-year-old, for their involvement in a syndicate using counterfeit banknotes to defraud cryptocurrency owners.
The arrests are part of ongoing efforts by law enforcement to combat the rise in crypto-related scams in the region.
The operation, reported by local media, resulted in losses of up to HK$11 million (US$1.4 million).
Chief Inspector Lo Yuen-shan of the Commercial Crime Bureau revealed that these arrests bring the total number of individuals apprehended in connection with these scams to 14 since October of last year.
The suspects, aged between 14 and 39, were detained on July 26, on charges of conspiracy to defraud and possessing and using 5,000 counterfeit banknotes.
The police outlined the structured nature of the syndicate, with each member assigned specific roles.
Two of the suspects, identified as the masterminds, were responsible for procuring fake banknotes from a mini storage facility in Mong Kok.
They disguised a nearby location as a legitimate business, impersonating a well-known cryptocurrency investor to lure victims with offers above the current market price for digital currencies.
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The scheme involved inviting victims to the fake store, where they were shown stacks of counterfeit HK$1,000 ($128) banknotes.
The top and bottom notes were real, deceiving victims into believing the entire stack was genuine.
The suspects prohibited the victims from untying the stacks, insisting on online transactions to finalize the deal.
Once the cryptocurrency was transferred, the scammers swiftly moved the assets out of the account and refused to pay, leaving the victims with nothing.
Chief Inspector Lo noted that these tactics have become common in recent cases, with the group and others defrauding 12 victims of HK$11 million (US$1.4 million) from October 2023 until the arrest.
The arrests underscore the ongoing battle against financial fraud in Hong Kong, particularly involving digital currencies.
Meanwhile, a global manhunt is underway for two well-known Hong Kong crypto influencers, previously linked to the JPEX exchange in Dubai, who are facing allegations of theft, fraud, and money laundering, prompting Interpol to take action.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
The emergence of crypto and blockchain technology to its present degree of worldwide acceptability and attention is mainly due to the work of crypto PR and marketing agencies. In 2024, these agencies have exhibited their ability to elevate projects from invisibility to popularity, implementing a wide range of tailored techniques.
Notably, Crypto PR and marketing agencies stand out for their thorough knowledge of the crypto ecosystem and their ability to create multifaceted campaigns that appeal to both the general public and industry insiders.
In general, they ensure proper company promotion using influencer marketing and community development, arranging targeted sponsored publications, and obtaining organic media coverage in top-tier media outlets. Hence, their knowledge goes beyond simple visibility; they are adept at creating a sense of credibility and stimulating significant interaction in the crypto niche.
This article will consider the top crypto PR and marketing agencies in 2024 and how they help projects gain proper paid and organic visibility.
Market Across
Market Across is one of the most well-established and reputable PR agencies in the crypto and Web 3.0 space. They have worked with an impressive array of clients, including Polkadot, Binance and eToro, and they offer a free consultation to all companies interested in using their marketing services.
Aside from offering press release distribution and earned media coverage, Market Across has several other services which are ideal for crypto projects. These other services include search engine optimization, content distribution and reputation management.
You can reach out to Market Across via Telegram or email to discuss your marketing needs.
News Coverage Agency
News Coverage Agency understands the dynamic nature of the digital landscape, especially within rapidly evolving sectors like Crypto, Blockchain, AI, Gaming, and NFTs. The team, made of seasoned professionals, ensures their clients’ brand messages reach the right audience through precise Press Release distribution, strategic Guest posting, impactful Organic news coverage, well-placed Sponsored content, or compelling interview publications.
Their expertise in search engine optimization (SEO) and data analytics enables them to track performance meticulously, refine strategies in real-time, and deliver measurable results. Moreover, the company’s commitment to transparency and client collaboration ensures that each campaign is aligned with its client’s business goals and brand vision.
LKI Consulting
LKI Consulting is an award-winning Web3 Marketing & Design Agency. In crypto since 2016, LKI worked with 252+ projects, including Binance, Waves, MELD, io.net, Raiser, and Playbux. They manage aggressive campaigns to help crypto projects grow the community before TGE and acquire users after the launch.
LKI Consulting’s expertise is in marketing strategy, product advisory, Twitter (X) growth, community management, growth hacking, KOLs management, crypto ads management, and design. In particular, they specialize in Web3 marketing for infrastructure, DeFi, and gaming projects. LKI Consulting presents itself as a data-driven Agency focused on hitting ambitious KPIs such as TVL growth, number of FTDs, downloads, unique users, and community members.
The Opinion
The Opinion is a UK-based strategic PR & marketing agency specialising in Web 3.0 and emerging tech. The company was founded by Dana Kachan, a blockchain marketing leader with an outstanding track record and author of viral business articles in big media such as Entrepreneur, Yahoo Finance, and The Economist.
The Opinion has established a reputation as a reliable marketing partner thanks to unparalleled results delivered for their clients, such as a $5.5M NFT sale, growth hacking campaigns with 3,566% returns on investment (ROI), successful token launches for projects, and many others. What sets Opinion PR apart from competitors is its unique marketing strategies, which have proved to be highly efficient for dozens of blockchain and gaming projects to date.
ICL Comms
ICL agency stands at the forefront of tech communications, offering innovative strategies for companies at every growth stage. The agency’s approach is characterized by creativity, high cost/value efficiency, flexibility and commitment to results, making it a preferred partner for Web3, AI and Music Tech projects. ICL offers a comprehensive suite of services, including Media and Kol Relations, Press Release Distribution, Crisis Communications and Personal Brand, Display Advertising and Community Growth.
Since its inception in 2018, ICL has produced thousands of articles featuring stories for industry leaders like Animoca Brands, Polygon, Gavin Wood, Blockchain.com, Wirex, Gate.io and early-stage startups. Free PR consultation is available for tech founders on the website.
CTRL-PR
CTRL-PR is a full-service success-based PR firm based in Berlin, offering effective and affordable media and public relations services tailored to your needs. They prioritize the success of every campaign first over financial commitment. Their expertise spans tech PR, crypto PR, and success-based PR, making them a trusted Crypto PR agency for your specialized requirements.
CTRL-PR doesn’t just promise outcomes; it delivers them. Their narrative-shaping prowess and seamless communication distinguish them from others. With rapid turnarounds, cost-effectiveness, and unmatched flexibility, they are established as the go-to Tech PR agency and Web3 (blockchain and cryptocurrencies). Everyone would experience a paradigm shift with CTRL-PR, where success-based campaigns aren’t just strived for but secured.
KAP Digital
KAP Digital, a Crypto marketing agency or, as its tagline, Not Just ANOTHER Crypto Marketing Agency, has a seasoned bunch of degen natives that powerhouse public launches and make them listings hyped to the moon.
No website, no active brand position, actions speaking more than words, with a team of over 1000+ individuals spread across the globe. Providing social media, graphics, KOL support, PR assistance and, best of all, the right hype picking on catchy narratives. The only way to reach them is through TG. A team full of Degens, positivity and always aiming for the moon! Chat with KAP now and dive into deep crypto.
PolyGrowth
Specializing in communications and PR, PolyGrowth is a success-based agency that is known for managing campaigns of big ticket clients such as Gate.io, Dusk Network, and Verasity. Founded in 2018, PolyGrowth has a solid track record and an outstanding network of journalists, podcasts, and KOLs.
You can request case studies and custom proposal by reaching out to PolyGrowth here.
In Summary
The top 2024 crypto PR and marketing agencies have established themselves as essential collaborators for projects aiming to create a long-lasting influence in the blockchain space. Their ability to customize campaigns to fit different budgets and their track record of getting publicity in prominent media channels make them the preferred option for both new and established firms in the cryptocurrency field.
As the sector evolves, these firms remain at the forefront, continually modifying their methods to guarantee that their clients keep up with the quick developments and stay ahead of the curve, cementing their reputations as genuine pioneers in the crypto PR and marketing space.
Former U.S. President and current Republican presidential candidate Donald Trump has announced his intention to make the United States the “crypto capital of the world” if he wins the upcoming presidential election.
Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, Trump praised the Bitcoin community, likening its current state to the early days of the steel industry.
He expressed confidence in Bitcoin’s future, predicting it would eventually surpass gold. “Bitcoin is not just a marvel of technology, as you know, it’s a miracle of cooperation and human achievement,” he stated.
During his speech, Trump also criticized his political rivals, specifically referring to Vice President Kamala Harris.
He touched on the energy usage associated with Bitcoin and artificial intelligence, promising to utilize fossil fuels to generate ample electricity. He pledged to roll back federal incentives for electric vehicles and charging stations.
Trump emphasized his potential as a strong candidate for the cryptocurrency community, suggesting that under his leadership, the U.S. would be at the forefront of the crypto industry.
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“If crypto is going to define the future, it’s going to be mined, minted, and made in America. If Bitcoin is going to the Moon, as they say, I want it to be America that sends it there.”
At the same conference, independent presidential candidate Robert F. Kennedy Jr. outlined a Bitcoin-friendly policy plan, promising to establish a strategic reserve by directing the U.S. Justice Department to transfer the 204,000 BTC allegedly held by the Federal Reserve.
He proposed that the Treasury Department purchase 500 BTC daily until the reserve reached 4 million BTC, aiming for a dominant position in global cryptocurrency holdings.
In contrast, Edward Snowden, speaking the previous day, warned against the politicization of Bitcoin.
He cautioned the cryptocurrency community to be wary of politicians using crypto as a tool to gain votes, urging them to remain independent: “
“Try to get what you need from them, but don’t give yourself to them, even if you have to vote for them.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Bitcoin faced a crucial weekly close on July 28, as the market reacted to recent statements by U.S. presidential candidates regarding cryptocurrency.
Data from Cointelegraph Markets Pro and TradingView indicated that Bitcoin’s price stabilized after experiencing volatility linked to the Bitcoin 2024 conference.
The market had been anticipating a possible price surge due to the event.
Notably, presidential candidates Donald Trump and Robert F. Kennedy Jr. both announced plans to establish a strategic Bitcoin reserve of at least 200,000 BTC.
However, the market response was subdued. Charles Edwards, founder of Capriole Investments, remarked on X, “There’s a 65% chance of a US strategic reserve for Bitcoin and you can still buy it for under $70K,” referencing Trump’s election odds.
Trader Daan Crypto Trades suggested that the muted market reaction might be temporary, saying, “Think people are a bit surprised and confused by this timeline.”
He noted that while the market received the news it wanted, there was significant liquidation of long positions before Trump’s announcement, which might have influenced price stability.
Daan Crypto Trades also highlighted the underestimation of the strategic reserve commitments, pointing out that not selling seized coins could eliminate a significant supply overhang.
He stated, “Even if they won’t buy any new coins, just holding their seized coins will rule out a ~$15B supply overhang,” comparing it to the supply pressures from entities like the German government and Mt. Gox.
As the excitement from the conference subsided, traders focused on the upcoming weekly and monthly Bitcoin close. The previous weekly close was near $68,200, leaving uncertainty about the week’s outcome.
Trader MegaWhale Crypto was optimistic, noting, “BTC weekly RSI has broken upward!
“This is a great sign,” but emphasized the need for sustained RSI levels above a downward trend line to confirm the breakout.
Meanwhile, Keith Alan, co-founder of Material Indicators, expressed caution, noting Bitcoin’s ongoing resistance challenges.
Monitoring resource CoinGlass reported that BTC/USD had increased by 7.8% in July, recovering losses from June.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Real-world asset tokenization is taking the world by storm. A few years ago, trading rights to real assets on blockchain was nothing more than an amusing idea. Today, the largest investment funds in the world are fighting tooth and nail over the leadership in asset tokenization. This topic is enormous, so today, we will focus on one specific aspect – using RWA tokens to get financing and the necessary infrastructure to facilitate it.
What is RWA tokenization?
Real-world asset tokenization is the representing property rights to various assets, such as real estate, stocks, commodities and so on, in the form of digital blockchain-based tokens.
Source: Outlier Ventures
Tokenization reduces the entry threshold for purchasing assets, allows for faster and more efficient transactions, since no intermediaries or paperwork are required and makes the entire process much more transparent. At the same time, tokens grant their holders all the rights coming with the underlying assets, such as dividends or the ability to use these tokens as collateral for loans.
RWA tokenization market state and prospects
According to RWA.xyz data, tokenised RWA’s total value locked (TVL), excluding stablecoins, is currently about $13.8 billion. Ethereum blockchain is the leading chain with the highest TVL, with Stellar, Mantle, Base, Arbitrum, Tron, BSC, Solana and other chains taking up the rest.
The total yearly RWA-tokens trading volume is already about $1 trillion. By 2030, the tokenized market will grow to between $10 trillion (21.co forecast) and $16 trillion (Transak). Some researchers, like Outlier Ventures, consider these predictions to be an underestimation. In other words, the growth potential of the tokenized market is immense, as the CEO of BlackRock, Larry Fink, acknowledged.
RWA-tokenisation market size forecast from 2023 to 2030. Source – Statista
At the moment, the main applications of RWA tokenization are:
- Government treasury bonds. The volume of US tokenized bonds alone is $2 billion, with an average yield to maturity of 4.95%.
- Private asset-backed credit – $8.5 billion with an average APR of 9.45%
- Tokenized commodities with a market cap of $873 million
However, the market structure is expected to change in the coming years, with real estate, public and private debt, and equity becoming the dominant positions.
RWA-tokens as collateral
In traditional capital markets, it is a standard practice for investors to pledge asset-backed securities or bonds for extra financing. Holders of RWA tokens may use them as collateral in a similar manner.
Borrowed funds can be used to increase existing RWA positions or to gain exposure to other investment opportunities. For example, if the investor anticipates a bullish trend in the crypto market, they can pledge RWA tokens as collateral, borrow stablecoins, and execute any DeFi strategy or just buy crypto.
There are some key advantages over traditional capital markets:
- Additional financing can be obtained very quickly
- There is no need for paperwork
- Financing can be obtained globally with ease
Unfortunately, holders of RWA tokens do not have access to flexible, liquid borrowing / lending solutions.
RWA tokenization challenges and possible solutions
Some risks associated with RWA tokenization, such as reliable physical asset custody and the legal enforcement of smart contracts in the real world, are more organizational than technological. Therefore, we leave these topics outside the scope of today’s article and will discuss them later. However, other issues can be effectively addressed through technology.
Currently, there are numerous platforms and protocols that facilitate the initial sale of tokenized assets to investors, including Ondo, Securitize, Goldfinch, Maple, Credix, Midas, Arca Labs, and others. Despite this, secondary market solutions are not yet well-developed enough to meet the growing market’s needs. Consequently, a significant amount of value remains “stuck” on-chain, accessible only to investors operating on specific blockchains.
Another significant challenge the market faces is fragmentation. The diverse array of tokenization protocols lacks interconnectivity, as they are deployed on different blockchains without effective communication and liquidity exchange mechanisms.
A potential solution to these market issues is the creation of a cross-chain lending protocol, where tokenized Real-World Assets (RWAs) serve as foundational collateral. Modern cross-chain messaging technologies can eliminate liquidity movement barriers between networks, enabling more fluid asset exchange and lending opportunities.
A Glimpse into the Future of Tokenized Assets: Asterizm’s Cross-Chain Lending Protocol Liqvid
Today, Asterizm, a web3 venture company backed by TechStars, Blockchain Founders Fund, Optic Capital, v3ntures, and other VCs specializing in blockchain interoperability and already facilitating cross-chain communication across 20 blockchains with its messaging protocol, published the first version of the white paper for the Liqvid protocol — a cross-chain lending protocol for RWAs. Previously, the Asterizm team published on X that the Liqvid protocol is in development. Moreover, a newly registered domain, liqvid.xyz, features a landing page with general information about the upcoming product and the white paper.
In a personal conversation with the project’s founding team members Denis Polulyakhov and Konstantin Gamalev, we learned that work on the protocol is in full swing. They also confirmed significant interest and support for the Liqvid protocol from RWA market players (issuers), venture investors, and L1 networks focused on real-world asset tokenization. While they didn’t provide a specific launch date, the team aims to release the first version of the protocol by the end of 2024.
Clearly, Asterizm’s cross-chain technology has the potential to transform the entire market and accelerate its development. The Asterizm and Liqvid protocol, as an application layer on top of it, enables the creation of a Layer-0 protocol facilitating using on-chain RWA-backed tokens as collateral to borrow stablecoins. This will replace the current landscape of numerous isolated platforms and protocols that “can’t talk to each other” with a unified ecosystem for tokenized assets. Holders of RWA tokens will gain greater access to additional financing, and will no longer be restricted by the liquidity available within their specific blockchain network. This will not only foster the growth of the RWA token market but also accelerate the growth of underlying assets and economic development as a whole.
In a notable effort to repair the relationship with the cryptocurrency sector, advisers to U.S. Vice President Kamala Harris have reached out to major crypto companies, aiming to reset the strained ties between the Democratic Party and the industry.
According to the Financial Times, Harris’s team has initiated contact with key figures at leading crypto firms, including the cryptocurrency exchange Coinbase, stablecoin issuer Circle, and blockchain payment firm Ripple Labs.
The outreach seeks to promote a more constructive dialogue and develop a regulatory framework supportive of the industry’s growth.
This initiative comes at a time when the crypto sector has shown increased support for Harris’s opponent, former President Donald Trump, the Republican Party nominee. It also responds to criticism of the Biden administration’s stance on digital assets.
The effort follows a letter signed by Democratic members of the U.S. House of Representatives and 2024 candidates, urging the party to rethink its approach to the digital asset industry. The letter emphasizes the need to move away from perceived hostility toward the sector.
Harris’s advisers have emphasized that the outreach to the crypto industry is not primarily about securing electoral contributions.
Instead, it is focused on building a positive relationship that could lead to a sensible regulatory framework.
This initiative is also part of a broader strategy to reshape the Democratic Party’s image among business leaders.
The Harris campaign aims to counter the perception that Democrats are anti-business, a sentiment reinforced by the Biden administration’s antitrust actions against tech companies.
Harris is keen on promoting a message of being “pro-business, responsible business,” to reassure the industry of the party’s commitment to fostering a supportive business environment.
Meanwhile, Trump, who previously expressed skepticism toward cryptocurrencies, has emerged as a strong advocate for the sector.
His keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee, underscored his support, attracting significant backing from the crypto community.
Pro-crypto super PAC Fairshake has raised over $200 million from notable supporters, including Coinbase and Ripple, while Trump’s campaign has received roughly $3 million in cryptocurrency donations since announcing it would accept digital assets.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Republican presidential nominee and former President Donald Trump pledged swift policy changes if he wins the upcoming election against Vice President Kamala Harris, the likely Democratic nominee.
\Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, Trump outlined his plans for the cryptocurrency sector, promising to remove US Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” and establish a “Bitcoin and crypto presidential advisory council.”
Trump addressed a crowd of Bitcoin enthusiasts who waited over an hour for his speech, delayed reportedly due to additional security measures.
He emphasized ending what he called the “persecution” and “weaponization” against the crypto industry, promising to appoint a new SEC chairman supportive of innovation.
Many attendees welcomed Trump’s remarks, as the crypto community has often criticized Gensler for his regulatory actions against firms like Ripple, Coinbase, and Binance.
While Gensler’s term ends in June 2026, a change in administration could expedite his departure.
Tyler Winklevoss, co-founder of Gemini and a Trump supporter, also called for a new SEC chair before the election.
Trump proposed that the crypto advisory council would develop a comprehensive regulatory framework within his first 100 days in office.
He also pledged to halt the development of a US central bank digital currency (CBDC), stating, “There will never be a CBDC while I’m president of the United States, and I will always defend the right of self-custody.”
The conference, concluding on July 27, featured appearances from various US lawmakers, congressional candidates, and industry leaders discussing crypto and blockchain technology.
Edward Snowden, former National Security Agency contractor, spoke virtually, advising Bitcoin enthusiasts to be wary of politicians seeking their votes, noting that these individuals often have their own agendas.
The event was marked by speculation of a surprise guest appearing with Trump, but none materialized. Trump hinted that his appearance was influenced by advisers, including Vivek Ramaswamy, urging him to engage with the crypto community, at least until after the election.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Lawyers for former FTX Digital Markets co-CEO Ryan Salame have requested a 45-day postponement of his prison reporting date due to medical complications from a dog bite.
On July 26, Salame’s legal team filed a request in the United States District Court for the Southern District of New York, asking to delay his self-surrender from August 29 to October 13.
The request stated this extension was necessary for Salame to undergo “urgent and necessary medical treatment and surgery.” Salame is set to serve a 7.5-year sentence after pleading guilty to conspiracy to operate an unlicensed money-transmitting business and engaging in campaign finance fraud.
The incident occurred on June 29 when Salame was reportedly “mauled” by a German Shepherd at a friend’s home.
The filing, which included some redacted portions, noted a physician’s visit on July 3 and treatment recommendations made on July 24, following the injury.
On the day of the attack, Salame posted on X, suggesting that a surgeon might intentionally harm him during treatment due to differing political views.
Despite his injuries, he indicated he was still monitoring the Bitcoin 2024 conference and preparing for future “big interviews.”
Salame is among the first associates of former FTX CEO Sam Bankman-Fried to receive a prison sentence and was notably absent from testifying at Bankman-Fried’s trial.
In March, Bankman-Fried was sentenced to 25 years in prison after being convicted on seven felony charges. He has since filed a notice of appeal.
FTX co-founder Gary Wang and former FTX engineering director Nishad Singh have also pleaded guilty to related charges and are expected to be sentenced in October and November, respectively.
A sentencing date for former Alameda Research CEO Caroline Ellison was not available at the time of this report.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Senator Cynthia Lummis has introduced a bill proposing the establishment of a “strategic Bitcoin reserve” by the U.S. government, which would involve purchasing 5% of the world’s Bitcoin supply to be held for at least 20 years.
“It can be used for one purpose, to reduce our debt,” Lummis stated during her keynote speech at the Bitcoin 2024 conference on July 27 in Nashville, Tennessee.
The plan, if enacted, would unfold over five years, with the government acquiring approximately one million Bitcoin, representing 5% of the total supply of 21 million Bitcoin.
At the time of publication, Bitcoin was valued at $68,105, meaning the cost of purchasing one million Bitcoin would be around $68.1 billion, based on CoinMarketCap data.
“This Bitcoin Reserve that we are going to create will start with the 210,000 Bitcoin that President Trump just mentioned and pull it into a reserve, stored in geographically diverse vaults, and that’s only the beginning,” Lummis explained.
She emphasized a shift in the nature of assets held by the government, saying, “We have the money now, but we will no longer be holding it in US dollars and assets that are designed to debase at least 2% per year, we’ll be holding it in an asset that will grow in value.”
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Lummis, a prominent advocate in the crypto space, received enthusiastic support from the conference attendees, concluding her speech with, “This is the solution, this is the answer, this is our Louisiana purchase moment. Thank you, Bitcoin!”
Her proposal came on the heels of a keynote address by former President Donald Trump, who declared his intention to position the U.S. as the “crypto capital of the world” if re-elected in November.
Lummis’s speech also followed her recent critique of President Joe Biden’s administration’s proposed 30% excise tax on the energy used by Bitcoin miners.
On July 23, she released a report titled “Powering Down Progress: Why A Bitcoin Mining Tax Hurts America,” which outlined the advantages of Bitcoin mining infrastructure for the U.S. energy grid.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.