What we will talk about today...

Donald Trump Vows to Be the 'Crypto President'

Donald Trump pledges to end Biden-Gensler crypto policies within one hour if re-elected.

• Main Points:

  • Crypto Champion: Trump promises to support cryptocurrency and halt anti-crypto policies.

  • Fundraiser Success: Raised $12 million at an event with key crypto industry leaders.

  • Industry Support: Backed by influential crypto figures and investors.

• Detailed Insights:

  • Advocacy for Crypto: At a fundraiser, Trump criticized Democratic crypto regulations and positioned himself as a strong advocate for cryptocurrency.

  • Event Highlights: Fundraiser attended by Coinbase executives and Gemini co-founders.

  • Policy Reversal: Trump plans to stop Biden's anti-crypto efforts and ensure the future of cryptocurrencies is shaped within the U.S.

  • Regulatory Stance: Trump criticized SEC Chair Gensler’s enforcement actions and vowed to halt these policies immediately if re-elected.

Related: Andrew Tate Burns $38M Solana Meme Coin Tokens

Trump’s stance signals his intent to reshape U.S. cryptocurrency policy and secure support from the crypto community.

US Banking Sector at Risk: $517B in Unrealized Losses, 63 Institutions in Trouble

The FDIC reports $517 billion in unrealized losses and flags 63 U.S. banks as at risk, indicating growing financial instability.

• Main Points:

  • Unrealized Losses: $517 billion in unrealized losses, up $39 billion from last quarter.

  • Troubled Banks: 63 banks are on the FDIC’s Problem Bank List, up from 52 last quarter.

  • Sector Instability: Increased financial strain despite claims of resilience.

• Detailed Insights:

  • Financial Strain: Ninth consecutive quarter of unrealized losses, primarily due to rising mortgage rates.

  • Growing Vulnerabilities: Assets of at-risk banks increased by $15.8 billion.

  • Ongoing Challenges: Recent bank failures and studies suggest many U.S. banks are still at risk.

Related: Robert Kiyosaki Predicts Bitcoin to Hit $350,000 by August 2024

The FDIC data highlights ongoing challenges and uncertainties in the U.S. banking system, raising concerns about its stability.

Mexican billionaire Ricardo Salinas advises buying Bitcoin amidst Naira's decline

Ricardo Salinas Pliego advises buying Bitcoin to protect against fiat devaluation as the Nigerian naira falls below a satoshi.

• Main Points:

  • Bitcoin Advocacy: Salinas recommends Bitcoin as a safeguard against devaluing fiat currencies.

  • Naira Crisis: Nigerian naira hits record low against the U.S. dollar, despite government measures.

  • Investment Endorsement: Salinas trusts Bitcoin over traditional investments like ETFs and stocks.

• Detailed Insights:

  • Fiat Hedge: Salinas, with a $14 billion fortune, promotes Bitcoin for its value appreciation.

  • Ongoing Support: Salinas has a history of backing Bitcoin and aims to integrate it into his businesses, including Banco Azteca and Elektra Group.

Related: Enormous Bitcoin Whale Adds $1 Billion Daily: Who Is It?

Salinas’ advice highlights Bitcoin’s growing role as a hedge against currency instability.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results