The Senate is moving ahead on crypto regulation, and some senators have invested in crypto-related companies. As the question of stablecoin regulation heats up in the US Senate, so has the issue of which members are personally invested in cryptocurrencies and cryptocurrency firms. On May 19, the Senate voted to invoke cloture and move ahead with the GENIUS Act, which would provide a regulatory framework for stablecoins. The measure passed 66-32, with 16 Democrats supporting the bill. Democratic concerns over corruption and politicians’ ties to cryptocurrency firms made the bipartisan move controversial. After the vote was finished, Colorado Senator Michael Bennet introduced the STABLE GENIUS Act. The bill would prevent members of Congress from issuing or investing in digital currency and require them to put their crypto in a blind trust while in office. Read more
Crypto and art NFTs can help investors protect their purchasing power from ongoing fiat currency debasement, according to Raoul Pal. Cryptocurrencies and non-fungible tokens (NFTs) can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders. Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor. “You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said. Read more
StarkWare’s Noam Nisan joins The Clear Crypto Podcast to demystify staking, explore its economic incentives and weigh the trade-offs between proof-of-work and proof-of-stake. What if a financial system could run itself not by burning electricity, but by rewarding good behavior? That’s the promise of staking, a mechanism that powers many modern blockchains by turning users into network operators. In this week’s episode of The Clear Crypto Podcast, hosts Gareth Jenkinson and Nathan Jeffay sit down with StarkWare’s Noam Nisan to unpack how this trustless engine works, why it matters and what’s really at stake. Jeffay began by highlighting how staking is part of the backbone that keeps the blockchain running, and runs itself, with volunteers. Read more