Crypto Vesting

A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.

House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.

Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.

Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”

“No strategic need has arisen

Read More at https://cointelegraph.com/news/democrat-asks-scott-bessent-cease-trumps-bitcoin-reserve?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741975167035&utm_campaign=rss_partner_inbound

A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.

House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.

Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.

Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”

“No strategic need has arisen

Read More at https://cointelegraph.com/news/democrat-asks-scott-bessent-cease-trumps-bitcoin-reserve?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741964292928&utm_campaign=rss_partner_inbound

A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.

House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.

Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.

Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”

“No strategic need has arisen

Read More at https://cointelegraph.com/news/democrat-asks-scott-bessent-cease-trumps-bitcoin-reserve?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741939278403&utm_campaign=rss_partner_inbound

A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.

House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.

Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.

Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”

“No strategic need has arisen

Read More at https://cointelegraph.com/news/democrat-asks-scott-bessent-cease-trumps-bitcoin-reserve?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741928536975&utm_campaign=rss_partner_inbound

A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.

House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.

Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.

Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”

“No strategic need has arisen

Read More at https://cointelegraph.com/news/democrat-asks-scott-bessent-cease-trumps-bitcoin-reserve?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.

“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.

Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.

Jain added that this was the biggest crypto governance vote ever, by both the number of participants and the participating market cap, of any ecosystem, chain or network.

“This was a meaningful scaling stress test — a social, rather than technical, stress

Read More at https://cointelegraph.com/news/solana-proposal-cut-inflation-rate-fails-to-pass?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741964292928&utm_campaign=rss_partner_inbound

A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.

“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.

Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.

Jain added that this was the biggest crypto governance vote ever, by both the number of participants and the participating market cap, of any ecosystem, chain or network.

“This was a meaningful scaling stress test — a social, rather than technical, stress

Read More at https://cointelegraph.com/news/solana-proposal-cut-inflation-rate-fails-to-pass?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741939278403&utm_campaign=rss_partner_inbound

A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.

“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.

Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.

Jain added that this was the biggest crypto governance vote ever, by both the number of participants and the participating market cap, of any ecosystem, chain or network.

“This was a meaningful scaling stress test — a social, rather than technical, stress

Read More at https://cointelegraph.com/news/solana-proposal-cut-inflation-rate-fails-to-pass?utm_source=rss_feed&utm_medium=rss%3Ft%3D1741928536975&utm_campaign=rss_partner_inbound