The long-promised ethics provisions in the CLARITY Act crypto legislation are a fig leaf that don’t cover Trump’s unprecedented crypto corruption or the rampant efforts by crypto billionaires to leverage their power and money to secure favorable legislation.
Soon, Senators will face a stark choice when the crypto industry’s top priority, the CLARITY Act, comes up for a vote.
Amidst the hype dominating the news ahead of SpaceXs initial public offering (IPO) and the breathless coverage of Elon Musk’s ascension to trillionaire status following the IPO, there is also a growing chorus of market watchers — including influencers, financial analysts, and even Nobel laureates — questioning the company’s valuation and calling out the IPO’s transfer of wealth from working people to the ultra-wealthy.
Firefighters battled a weeklong warehouse fire at a 500,000 square foot food storage facility in Boyle Heights, CA, a historically Chicano neighborhood in Los Angeles.
President Trump is attempting to give himself a get out of tax jail free card: the Trump Justice Department recently settled an IRS case brought by Trump that gives him, his businesses, and his family (and their businesses) tax amnesty. His family’s crypto businesses—fueled by self-dealing, unethical conduct, and conflicts of interest—have generated billions of dollars since the inauguration. If the settlement stands, his family’s crypto business empire could be shielded from paying taxes.
The new Trump proposal to deregulate the types of investments workers can make with their retirement accounts is a bad policy idea that looks almost engineered to bail out Wall Street at the expense of everyone else.