Crypto Currency

Trump chooses crypto-friendly Bitcoin holder Senator J.D. Vance as running mate

Key Takeaways JD Vance is recognized as a strong crypto supporter by Coinbase’s Stand With Crypto initiative. Vance has financial investments in Bitcoin and has opposed SEC crypto reporting rules. Share this article URL Copied

Published 1 year ago in
Trump chooses crypto-friendly Bitcoin holder Senator J.D. Vance as running mate

Key Takeaways

  • JD Vance is recognized as a strong crypto supporter by Coinbase’s Stand With Crypto initiative.
  • Vance has financial investments in Bitcoin and has opposed SEC crypto reporting rules.

Share this article

Donald Trump has announced Ohio Senator JD Vance as his vice presidential running mate for the 2024 Republican ticket. Vance, known for his pro-crypto stance, adds a tech-savvy dimension to Trump’s campaign.

Trump announced his pick on social media platform Truth Social, confirming Vance would join his bid for the presidency. The Ohio senator has established himself as a “strong” supporter of crypto, according to Coinbase’s Stand With Crypto initiative, which bases its assessment on positive social media posts and pro-crypto voting records.

“J.D. has had a very successful business career in Technology and Finance, and now, during the Campaign, will be strongly focused on the people he fought so brilliantly for, the American Workers and Farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and far beyond,” Trump said in the statement.

Vance’s background in finance and technology, adding to his crypto credentials, are substantiated by his financial disclosures. In a 2022 report filed with the US Senate, he declared Bitcoin holdings valued between $100,001 and $250,000 through Coinbase. These personal investments align with his legislative actions as well, which include voting in favor of a joint resolution to overturn the SEC rule requiring banks to report crypto as a liability on their balance sheets.

The selection of Vance could signal a crypto-friendly approach in a potential Trump administration. It comes at a time when crypto regulation and adoption are increasingly important issues in US politics and financial policy. Vance’s addition to the ticket may appeal to tech-savvy voters and those in the crypto community seeking representation in high-level government positions.

Trump, who recently survived a shooting incident at a rally in Pennsylvania, has progressively led the Republican party to align with crypto-friendly legislation. Trump has also confirmed that he will be attending a Bitcoin conference in Nashville, despite the looming security concerns as his campaign continues.

Trump’s choice of a pro-crypto running mate represents a notable shift in Republican Party dynamics, potentially influencing future policy discussions around digital assets and blockchain tech.

Share this article

?xml>

?xml>

?xml>
Read More

Be the first to write a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Currency

Mega Crypto Shift? Fidelity Sells its Bitcoin Hoard without Fanfare

Key Takeaways: In the recent days, Fidelity sold about 332.42 million worth of Bitcoin. The action was undertaken when the price of BTC was experiencing a small dip, and now The post Mega Crypto Shift? Fidelity Sells its Bitcoin Hoard without Fanfare appeared first on CryptoNinjas…

Published 7 hours ago in
Mega Crypto Shift? Fidelity Sells its Bitcoin Hoard without Fanfare

Key Takeaways: In the recent days, Fidelity sold about 332.42 million worth of Bitcoin. The action was undertaken when the price of BTC was experiencing a small dip, and now
The post Mega Crypto Shift? Fidelity Sells its Bitcoin Hoard without Fanfare appeared first on CryptoNinjas…
Read More

Continue Reading
Crypto Currency

What You Can Build on Bitcoin Hyper — A Bitcoin-Backed Alternative to Solana Crypto Coins

The crypto market offers a wide range of new crypto projects for developers and investors. However, not all coins are the same, so choosing one that stands out from the The post What You Can Build on Bitcoin Hyper — A Bitcoin-Backed Alternative to Solana Crypto Coins appeared first on CryptoNinjas…

Published 7 hours ago in
What You Can Build on Bitcoin Hyper — A Bitcoin-Backed Alternative to Solana Crypto Coins

The crypto market offers a wide range of new crypto projects for developers and investors. However, not all coins are the same, so choosing one that stands out from the
The post What You Can Build on Bitcoin Hyper — A Bitcoin-Backed Alternative to Solana Crypto Coins appeared first on CryptoNinjas…
Read More

Continue Reading
Crypto Currency

Where’s Satoshi? Statue of Bitcoin creator gets stolen, smashed, and lake-dumped in Lugano

Key Takeaways A statue of Satoshi Nakamoto was stolen in Lugano, Switzerland, prompting a reward offer. The statue was later found broken in a nearby lake. Share this article A life-sized statue of Bitcoin’s mysterious creator, Satoshi Nakamoto, disappeared from Parco Ciani Park in Lugano, as reported by X user Gritto this morning. Hey @paoloardoino

Published 7 hours ago in
Where’s Satoshi? Statue of Bitcoin creator gets stolen, smashed, and lake-dumped in Lugano

Key Takeaways

  • A statue of Satoshi Nakamoto was stolen in Lugano, Switzerland, prompting a reward offer.
  • The statue was later found broken in a nearby lake.

Share this article

A life-sized statue of Bitcoin’s mysterious creator, Satoshi Nakamoto, disappeared from Parco Ciani Park in Lugano, as reported by X user Gritto this morning.

Gritto, who visited the park and captured photos, said the statue was still in place on the night of August 1st. At the time, the area was bustling with activity due to Swiss National Day festivities, and nearby cafés filled with celebrants.

He theorized that a group of partygoers, intoxicated and passing through after the celebrations, might have decided to “have fun” with the statue on their way home. The statue’s disappearance was believed to have occurred sometime that night.

Gritto’s photos show a portion of the statue still attached to the base and the metal nameplate engraved with “Satoshi Nakamoto,” along with the artist’s name, Valentina Picozzi.

“There are cameras everywhere in the city so i assume, they just threw it inside the lake beside, before going home,” Gritto suggested. “No way, they could have carried it unnoticed in the city. So my opinion: it is in the lake, just beside its previous location.”

Statue of Bitcoin creator discovered broken in a nearby lake

After the theft surfaced, Picozzi’s Satoshigallery announced a 0.1 BTC reward for leads on the statue’s recovery. The team also confirmed it would proceed with plans to install identical statues in 21 locations worldwide.

A number of users on X claimed the statue was recovered from a nearby lake, damaged and incomplete.

Share this article

?xml>?xml>
Read More

Continue Reading
Crypto Currency

Hacker still holds $14 billion in stolen Bitcoin from massive 2020 LuBian attack: Arkham

Key Takeaways A hacker stole 127,426 Bitcoin from Chinese mining pool LuBian in December 2020, now valued at over $14.5 billion. Lubian abruptly stopped operations without an explanation two months after the hack. Share this article A massive theft of 127,426 Bitcoin (BTC) from the secretive Chinese mining pool LuBian in 2020, which was uncovered

Published 7 hours ago in
Hacker still holds $14 billion in stolen Bitcoin from massive 2020 LuBian attack: Arkham

Key Takeaways

  • A hacker stole 127,426 Bitcoin from Chinese mining pool LuBian in December 2020, now valued at over $14.5 billion.
  • Lubian abruptly stopped operations without an explanation two months after the hack.

Share this article

A massive theft of 127,426 Bitcoin (BTC) from the secretive Chinese mining pool LuBian in 2020, which was uncovered today, has sparked concerns in the crypto community as the hacker still holds the entire stash more than four years after the incident.

The stolen BTC stash, worth $3.5 billion at the time, is now valued at over $14 billion, according to a new report from Arkham Intelligence.

It is not only the biggest crypto heist in history but also one of the longest-concealed cases. LuBian, which controlled nearly 6% of Bitcoin’s network hash rate in May 2020, has never publicly disclosed the breach.

Inside the largest crypto heist

As traced by Arkham, the hack occurred on December 28, 2020, with more than 90% of LuBian’s BTC holdings being drained. Arkham suggests that LuBian used an insecure algorithm to generate private keys, which made them vulnerable to brute-force attacks.

The day after the attack, a LuBian-linked address lost an additional $6 million in Bitcoin and USDT on the Bitcoin Omni layer.

On December 31, LuBian moved its remaining 11,886 Bitcoin, currently worth about $1.3 billion, to recovery wallets.

After the hack, the firm broadcast messages across 1,516 Bitcoin transactions requesting the return of stolen funds, spending 1.4 Bitcoin in the process.

The hacker’s stash of 127,426 BTC remains untouched since a wallet consolidation in July 2024, while LuBian’s holdings sit at 11,886 BTC. The unknown exploiter has climbed to 13th place among the top BTC holders, outranking the infamous Mt. Gox hacker.

LuBian stopped mining in early 2021

The hack may explain why LuBian quietly disappeared from the Bitcoin network in early 2021. Given the firm’s secretive operations, it’s perhaps no surprise that the former top-tier miner chose to vanish rather than disclose a breach of this scale.

According to data from mempool.space, Lubian’s last known mining activity occurred on March 1, 2021, when it mined Bitcoin block 672,636.

At the time, industry observers speculated the halt was linked to China’s and Iran’s clampdown on crypto mining. Those regions were believed to be Lubian’s active areas.

China announced a crackdown on Bitcoin mining and trading in May 2021, followed by several provinces ordering shutdowns of mining operations through June.

By September 2021, Chinese authorities issued a nationwide notice declaring crypto mining an “obsolete” industry, effectively enacting a total ban on both mining and trading.

Share this article

?xml>
Read More

Continue Reading