ameli8bell

@ameli8bell

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A fleeting misty rain, utterly beautiful.

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According to the official website, Craft Ventures has investments in Bitwise Asset Management, crypto custodian BitGo and social media giants Meta, Reddit and X. Sacks also invested in Solana-focused venture firm Multicoin Capital in 2018.

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The San Francisco-based venture capital firm was founded by Sacks in 2017 and has launched four funds since then. Its last one was closed in November after raising $712 million.

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“Both he [Sacks] and the firm sold their direct cryptocurrency holdings soon after Trump’s inauguration, according to a person with knowledge of the matter,” reported the FT.

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The result has been “this incredible flow of money that has gone from the banks and the crypto industry to people in [Washington] D.C., and they’re all going to fight,” Long said.

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Crypto.com, another major exchange, confirmed it would also delist USDT and nine other stablecoins starting Jan. 31, 2025.

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In the wider crypto space, Jan3 CEO Samson Mow warned of a potential “price suppression” for Bitcoin, which continued its crab walk in a price range that “looks very manufactured.”

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https://warpcast.com/ellaar8aim/0xd824b68a

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https://warpcast.com/ellaar8aim/0xd824b68a

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It noted that this was “primarily due to the digital assets value-added gain generated from the cryptocurrencies held by the group,” and the group’s holding of certain online operation activities and the continuous optimization of its gaming products.

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Biden’s executive order, signed in October 2023, established a framework for AI that included six primary points, along with plans for the ethical use of AI in the government, privacy practices for citizens and steps for protecting consumer privacy.

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Other US firms have begun ramping up AI expansion, with Microsoft’s announcement in September that it was establishing two AI centers in Abu Dhabi being among the significant AI investments throughout 2024.

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Top executives from the country’s leading tech companies who have embraced AI — such as Meta founder Mark Zuckerberg, Amazon founder Jeff Bezos, and Google CEO Sundar Pichai — stood alongside Trump at his inauguration on Jan. 20.

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Like the SEC, the CFTC has filed several lawsuits against crypto firms for alleged violations of US commodities laws, including FTX, Celsius and Binance. The commission reported in December that it had recovered more than $17 billion in monetary relief for the 2024 fiscal year, fueled mainly by enforcement actions against crypto companies.

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Trump has reportedly considered replacing CFTC Chairman Rostin Behnam — expected to serve until June 2026 — with someone more favorable to the crypto industry.

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A panel of five CFTC commissioners, each of whom serves staggered five-year terms, could have additional authority over crypto policy if US lawmakers pass legislation clarifying the role of the regulator and the Securities and Exchange Commission.

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The CFTC said at the time that it was seeking “disgorgement of ill-gotten gains, civil monetary penalties, injunctions relating to registration and trading, and an injunction against further violations of the Commodity Exchange Act.”

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Judge Hellerstein did not suggest why the trial date would be pushed by six days. The next session of the US Congress is scheduled to begin on Jan. 3, and President-elect Donald Trump’s inauguration will be on Jan. 20.

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The delay moves the trial’s start date under a new presidential administration, which could affect the CFTC’s position on Gemini and other crypto firms.

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In a Dec. 30 filing in the US District Court for the Southern District of New York, Judge Alvin Hellerstein pushed the start date of the CFTC v. Gemini civil trial from Jan. 13 to Jan. 21, adding that “no further adjournments will be granted.”

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