President Trump's proposal for a national crypto reserve has ignited heated debate among Republicans and investors, resulting in volatile Bitcoin prices. Initially soaring, Bitcoin fell nearly $10,000 shortly after the announcement. Trump's plan, supported by venture capitalist David Sacks, includes creating a federal Bitcoin reserve funded by existing seized Bitcoin, while a bill by Senator Lummis aims for substantial government Bitcoin purchases. Critics argue the plan could benefit insiders at taxpayers' expense, raising legal and ethical concerns about unilateral action by Trump in crafting such an initiative.
"The plan has spurred a lot of questions about how it would work and the risks involved, especially with divisions among Republican lawmakers."
"Lonsdale stated that it was wrong to tax citizens for these 'crypto bro schemes' proposed by the government."
Collection
[
|
...
]