Donald – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sun, 07 Sep 2025 02:20:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Donald – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 From Jamie Dimon to Donald Trump: Why everyone eventually understands Bitcoin https://earlybirdsinvest.com/from-jamie-dimon-to-donald-trump-why-everyone-eventually-understands-bitcoin/ https://earlybirdsinvest.com/from-jamie-dimon-to-donald-trump-why-everyone-eventually-understands-bitcoin/#respond Sun, 07 Sep 2025 02:20:51 +0000 https://earlybirdsinvest.com/from-jamie-dimon-to-donald-trump-why-everyone-eventually-understands-bitcoin/

It may take a minute to get to grips with magic internet money, but once you see the scarcity, durability, and predictability, it somehow all falls into place. From Jamie Dimon to Donald Trump, eventually everyone understands Bitcoin.

Eventually everyone understands Bitcoin

Anthony Pompliano summed it up best, against an image of some high-profile personalities, including Donald Trump, Jamie Dimon, and Jerome Powell, who have changed their tune on the number-one coin. He said:

“Eventually everyone understands bitcoin.”

In the beginning, the idea of a decentralized digital currency was met with skepticism, derision, and sometimes outright hostility. Yet, as the years have passed, some of the world’s most influential voices from Wall Street to Washington have changed their tunes, making Bitcoin’s journey from a fringe obsession to a mainstream asset nothing short of historic.

Eventually, everyone understands Bitcoin
Eventually, everyone understands Bitcoin

Titans of finance: changing their minds

Take Jamie Dimon, the CEO of JPMorgan Chase. In 2017, he called Bitcoin a “fraud,” threatened to fire employees who traded it, and warned of government crackdowns. Fast-forward to the present, JPMorgan offers Bitcoin exposure to clients and Dimon regularly attends crypto panels. He’s critical of specifics, but his institution is deeply entrenched in blockchain finance.

BlackRock CEO Larry Fink went from calling Bitcoin “an index of money laundering” to overseeing the world’s largest asset manager issuing a Bitcoin ETF and publicly referring to it as “digital gold.” Fink’s pivot stunned markets and signaled a shift in how legacy finance regards the new digital economy.

Jerome Powell, Chair of the Federal Reserve, was also skeptical about crypto for years. Yet under his watch, the Fed now closely monitors Bitcoin, citing its relevance to global markets and even a “competitor to gold.”

Politicians and power players

Donald Trump once dismissed Bitcoin as being highly volatile and based on thin air. But by 2024, Trump was reportedly courting crypto donors and acknowledging Bitcoin’s increasing significance, reflecting the asset’s growing political clout.

Michael Saylor, now synonymous with Bitcoin advocacy, wasn’t always a maximalist. Before 2020, Saylor publicly doubted Bitcoin’s longevity, calling its days “numbered” as far back as 2013. Now, his company MicroStrategy holds more BTC than any other publicly traded firm (over 636,000 coins) and Saylor has personally become its most famous evangelist.

And Mark Cuban spent years calling Bitcoin no different from bananas and raising doubts about its utility. Today, he’s an active participant in the crypto and NFT ecosystems, holding Bitcoin and advising blockchain companies. In other words? Eventually, everyone understands Bitcoin.

Governments join the fold

If the world’s biggest names can change their minds, so can entire governments. According to the Visual Capitalist, the United States is now the largest holder of Bitcoin, with China following closely.

Bitcoin holdings (Source: Visual Capitalist)
Bitcoin holdings (Source: Visual Capitalist)

These holdings are often the result of law enforcement seizures or strategic mining, but the fact remains: global governments hold thousands (sometimes hundreds of thousands) of bitcoins, quietly shifting from outright bans to accumulation and research.

Bitcoin’s path to mainstream acceptance has been paved with resistance and then recognition. Whether driven by economic imperatives, technological curiosity, or simply the fear of missing out, figures like Jamie Dimon and Donald Trump have finally come to the same realization: Bitcoin is here, and it is inevitable; even governments now hold Bitcoin as part of their strategic reserves.

What was once met with skepticism and doubt is now universally accepted at the highest level, proving Pompliano right that, despite the resistance, eventually everyone understands Bitcoin.

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Millions bet President Donald Trump is NOT DEAD as Polymarket resignation odds stay under 1% https://earlybirdsinvest.com/millions-bet-president-donald-trump-is-not-dead-as-polymarket-resignation-odds-stay-under-1/ https://earlybirdsinvest.com/millions-bet-president-donald-trump-is-not-dead-as-polymarket-resignation-odds-stay-under-1/#respond Tue, 02 Sep 2025 13:22:38 +0000 https://earlybirdsinvest.com/millions-bet-president-donald-trump-is-not-dead-as-polymarket-resignation-odds-stay-under-1/

Polymarket contracts price less than a 1% chance that President Donald Trump will resign today, as traders position into a 2 P.M. ET Oval Office announcement reported by multiple outlets citing a White House advisory.

The Oval Office announced the planned appearance, though the topic was not disclosed. According to his schedule, Trump spent Labor Day golfing with no public appearances, and his day ended at 5:39 P.M. ET.

Trump schedule
Trump schedule (Source: White House)

Trading around Trump’s tenure and health has drawn sizable volume. As of early afternoon on Sept. 2, a same-day “resign today” market on Polymarket showed <1% odds with roughly $1 million traded, based on live market boards shared with CryptoSlate.

Broader timeframes price low single-digit probabilities: the year-end contract “Will Trump resign in 2025?” traded near 6%, while “Trump removed via 25th Amendment in 2025?” sat near 7%.

Amid a near-record low approval rate of 44% and a -7.6% net approval, a separate contract resolves on Trump’s polling floor, “How low will Trump’s approval rating go in 2025?,” priced a 40% approval or lower outcome at about 19%, with resolution tied to Nate Silver’s Silver Bulletin aggregator.

Trump approval rating
Trump approval rating (Source: Nate Silver)

Market rules frame why odds cluster at the low end.

The resignation market pays out on an announcement alone by Dec. 31, 2025, irrespective of the effective date, per Polymarket’s rule set for the 2025 resignation contract.

Removal via the 25th requires a successful Section 4 process, meaning a Cabinet determination sustained by two-thirds of both chambers, per the 25th Amendment market. The approval market resolves to the green trend line published by Silver Bulletin.

Trading flurry follows online speculation about Trump’s health.

The White House disclosed on July 17 that the president was diagnosed with chronic venous insufficiency after leg swelling, with testing ruling out deep-vein thrombosis and cardiac issues, per an official physician memorandum posted by The White House.

Viral claims that Trump has “six to eight months to live” have been surfacing online based on “internet doctors’” assessment of the bruises on his hands. However, on Monday, Trump was reportedly photographed golfing near Washington, D.C., which added a fresh data point against “missing from public view” narratives, as People reported from the press pool.

In odd timing (for those indulging in conspiracy theory), VP J.D. Vance recently asserted that he is ready to be President should anything happen to Trump. Some have also claimed the images of Trump from this weekend are either a lookalike, fake, old, or show the president in very frail shape.

By 2 P.M. today, much of the social media weekend Zeitgeist will be solved, and millions will be paid out to those betting on the outcome via crypto’s always-present Polymarket prediction markets.

Rumor-driven markets can move fast, then mean-revert when new reporting lands. Today’s setup centers on the Oval Office announcement window and whether it alters the information environment that underpins these contracts.

Until that catalyst arrives, Polymarket’s same-day resignation line remains priced as a tail event, and the year-end resignation and removal contracts trade in the single digits.

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Governor Gavin Newsom Uses Meme Coin to Hit Back at Donald Trump’s Image https://earlybirdsinvest.com/governor-gavin-newsom-uses-meme-coin-to-hit-back-at-donald-trumps-image/ https://earlybirdsinvest.com/governor-gavin-newsom-uses-meme-coin-to-hit-back-at-donald-trumps-image/#respond Mon, 01 Sep 2025 11:56:15 +0000 https://earlybirdsinvest.com/governor-gavin-newsom-uses-meme-coin-to-hit-back-at-donald-trumps-image/

California Governor Gavin Newsom is taking a new route to push back against President Donald Trump’s association with cryptocurrency.

During an August 29 appearance on the Pivot podcast, Newsom shared that his team is working on launching a meme coin called the “Trump Corruption Coin”.

Rather than use the coin to promote himself, Newsom emphasized that its name is meant to keep attention on President Trump’s controversies. When asked whether the token would be branded after him, Newsom said, “No, it’s Trump Corruption Coin”.

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Newsom also explained that the crypto project is part of his “Campaign for Democracy”. Funds raised through the token would be used to support voter engagement efforts and help with redistricting.

According to the governor, these areas are often underfunded but crucial for strengthening democratic participation.

In the interview, Newsom did not shy away from aiming for President Trump’s influence. He said the coin was designed to highlight the exaggerated and misleading aspects of President Trump’s public image. He said:

We’re just trying to turn up the heat and tune people into the absurdity.

On August 25, Newsom’s press office account on X has been posting messages in President Trump’s trademark all-caps format.

One post read, “EXCEPT WHAT IS WRITTEN AND BROADCAST IN THE FAKE NEWS, I NOW HAVE THE HIGHEST POLL NUMBERS I’VE EVER HAD, SOME IN THE 60’S AND EVEN 70’S. THANK YOU. MAKE AMERICA GAVIN AGAIN!!! — GCN”.

On August 24, Eric Trump shared how his family’s interest in crypto began after the banking troubles that followed the Capitol events in 2021. What did he say? Read the full story.


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South Park Mocks Donald Trump With Crypto Jabs in New Episode https://earlybirdsinvest.com/south-park-mocks-donald-trump-with-crypto-jabs-in-new-episode/ https://earlybirdsinvest.com/south-park-mocks-donald-trump-with-crypto-jabs-in-new-episode/#respond Sat, 23 Aug 2025 22:56:03 +0000 https://earlybirdsinvest.com/south-park-mocks-donald-trump-with-crypto-jabs-in-new-episode/

South Park has turned its attention back to President Donald Trump, this time mixing in jokes about cryptocurrency and artificial intelligence (AI).

The latest episode, Sickofancy, aired on August 20 and featured a mix of political and tech satire.

The story begins with a cannabis farmer whose workers are arrested in an immigration raid. Left without staff, he rebrands his farm as an AI startup.

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A ChatGPT-style assistant then suggests he should flatter the president to get cannabis reclassified.

That sets up the main gag of the episode: a parade of technology leaders lining up at the White House to hand President Trump gifts. Spoofed versions of Apple’s Tim Cook, Nvidia’s Jensen Huang, Meta’s Mark Zuckerberg, and others appear.

Before that, characters resembling Sundar Pichai and David Sacks are shown giving him Bitcoin.

These scenes reflect concerns about President Trump’s real-life support for digital assets. His family and businesses have recently expanded into trading services, stablecoins, mining, and tokens. The show connects those ties with the exaggerated image of tech bosses trying to win his approval.

The episode also pokes fun at President Trump’s other policies and public image. Washington, DC, is shown full of National Guard troops after a recent deployment.

Old running jokes also return, including crude portrayals of President Trump and a baby-faced version of Vice President JD Vance.

Recently, Coinbase released a satirical video titled Everything Is Fine. What message does the video convey? Read the full story.


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Crypto and Fintech Firms Urge Donald Trump to Halt Bank Data Access Fees https://earlybirdsinvest.com/crypto-and-fintech-firms-urge-donald-trump-to-halt-bank-data-access-fees/ https://earlybirdsinvest.com/crypto-and-fintech-firms-urge-donald-trump-to-halt-bank-data-access-fees/#respond Sat, 16 Aug 2025 07:39:54 +0000 https://earlybirdsinvest.com/crypto-and-fintech-firms-urge-donald-trump-to-halt-bank-data-access-fees/

A group of financial technology and cryptocurrency companies has asked President Donald Trump to stop banks from charging fees for sharing customer account information.

The request came in an August 13 letter signed by Gemini



$193.92M

, Robinhood, the Crypto Council for Innovation, and the Blockchain Association.

They stated that the new “account access” fees would reduce competition and harm industries such as cryptocurrency, artificial intelligence (AI), and digital payments.

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These companies depend on access to bank data so users can transfer money between bank accounts and their platforms.

The letter warned that higher costs could force some products to shut down and limit options for consumers. It also argued that the United States could lose ground in developing digital assets if the connection between banks and new financial tools is weakened.

The group also asked the president to use his authority to block large banks from adding new fees. It stated that the country’s leadership in digital assets depends on “safe, reliable on-ramps” between the banking system and new financial services.

Banking groups, led by the American Bankers Association, argued that it would interfere with free market principles and amount to government control over pricing.

The banks noted that the proposal came from “middlemen” trying to benefit at no cost from the security systems that banks have paid to develop.

Meanwhile, US Senator Elizabeth Warren recently urged the Office of the Comptroller of the Currency (OCC) to address possible conflicts from President Trump’s ties to stablecoin USD1. What did she say? Read the full story.


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Donald Trump’s takeover of DC police is legal, but there’s a catch https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/ https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/#respond Tue, 12 Aug 2025 20:15:50 +0000 https://earlybirdsinvest.com/donald-trumps-takeover-of-dc-police-is-legal-but-theres-a-catch/

On Monday, President Donald Trump released an executive order invoking a rarely used federal law that allows him to temporarily seize control over Washington, DC’s police force. Later the same day, DC’s Democratic Mayor Muriel Bowser seemed to concede that there’s nothing she can do about it.

“What I would point you to is the Home Rule Charter that gives the president the ability to determine the conditions of an emergency,” Bowser said Monday afternoon. “We could contest that, but the authority is pretty broad.”

Bowser is almost certainly correct that Trump can seize control of her city’s police force, at least for a little while.

The District of Columbia is not a state, and does not enjoy the same control over its internal affairs that, say, nearby Virginia or Maryland does. The Constitution gives Congress the power to “exercise exclusive Legislation in all Cases whatsoever” over the nation’s capital. If Congress wanted to, it could turn DC into a federal protectorate tomorrow.

In 1974, however, Congress enacted the District of Columbia Home Rule Act, which generally gives DC residents the power to elect the city’s leaders. But that law contains an exception that allows the president to briefly take command of DC’s police.

“Whenever the President of the United States determines that special conditions of an emergency nature exist which require the use of the Metropolitan Police force for federal purposes,” the law provides, the president may require the city’s mayor to provide him “such services of the Metropolitan Police force as the President may deem necessary and appropriate.”

The same law, however, also provides that presidential control over DC police must terminate after 30 days, unless Congress takes some action to extend it. So, assuming that the courts actually apply this 30-day limit to Trump, Trump’s control over DC’s local police will only last a month at most.

Indeed, Trump’s own executive order seems to acknowledge that his powers are time-limited. The order requires Mayor Bowser to “provide the services of the Metropolitan Police force for Federal purposes for the maximum period permitted under section 740 of the Home Rule Act.”

The Home Rule Act, moreover, is fairly adamant that this 30-day limit is real. It provides that, absent congressional action, “no such services made available pursuant to the direction of the President … shall extend for any period in excess of 30 days.” So, if Trump does try to extend the time limit without Congress’s consent, the courts should not permit him to do so.

Trump often uses “emergency” powers to address ordinary things

Trump loves to declare emergencies. In his first 100 days in office, he declared eight of them, more than any other president — including himself in his first term. His DC police order is just the latest of these emergency declarations. Trump claims that “crime is out of control in the District of Columbia,” and this supposed situation justifies invoking emergency powers to take control of DC’s police.

The idea that DC faces a genuine emergency is a farce. As pretty much everyone who has written about Monday’s executive order has noted, violent crime rates in the city are at a 30-year low. So, even if you concede that crime is such a problem in DC that it justifies a federal response, that problem has existed for three decades. A persistent problem is the opposite of an emergency.

That said, Bowser is correct that the Home Rule Act’s text permits the president, and the president alone, to determine whether an emergency exists that justifies taking control of DC’s police. The relevant language of the statute provides that Trump may invoke this power “whenever the President of the United States determines that special conditions of an emergency nature exist.”

Broadly speaking, it makes sense to give the president unreviewable authority to decide when to invoke certain emergency powers. The very nature of an emergency is that it is a sudden event that requires immediate action, without which matters could deteriorate rapidly. Think of a heart attack, a major natural disaster, or an insurrection.

Suppose, for example, that a violent mob attacks the US Capitol during an important national event, such as the congressional certification of a presidential election. When Congress enacted the Home Rule Act, it quite sensibly could have thought that the president should be able to draw upon all nearby law enforcement officers to quell such an attack on the United States — without having to first seek permission from local elected officials, or a judge.

Congress, of course, did not anticipate that the president might be complicit in such an attack. But that doesn’t change the fact that the statute says what it says. A nation as large and diverse as the United States cannot function unless its chief executive has the power to take some unilateral actions. If a president abuses that authority, the proper remedy is often supposed to be the next election.

It’s worth noting that not every emergency statute is worded as permissively as the Home Rule Act’s provision governing local police. In May, for example, a federal court struck down many of the ever-shifting tariffs that Trump imposed during his time back in office. One of the plaintiffs’ primary arguments in that case, known as V.O.S. Selections v. Trump, is that Trump illegally tried to use an emergency statute to address an ordinary situation.

Trump primarily relied on a statute known as the International Emergency Economic Powers Act of 1977 (IEEPA) to justify his tariffs. That law gives him fairly broad authority to “regulate” international transactions, but this power “may only be exercised to deal with an unusual and extraordinary threat with respect to which a national emergency has been declared.”

Thus, the text of IEEPA is quite different from the text of the Home Rule Act. While the Home Rule Act permits the president to act whenever he determines that an emergency exists, IEEPA imposes two conditions on the president. One is that there must be an emergency declaration, but the other is that the president must invoke IEEPA to deal with an actual “unusual and extraordinary threat.”

Trump claims that many of his tariffs are justified because of trade deficits — the United States buys more goods from many nations than it sells — but the US has had trade deficits for at least two decades. So trade deficits are hardly an “unusual and extraordinary threat.”

Some of Trump’s invocations of emergency power, in other words, are vulnerable to a legal challenge. But the question of whether any particular invocation may plausibly be challenged in court will turn on the specific wording of individual statutes.

Will the courts actually enforce the 30-day limit?

All of this said, the Home Rule Act does contain one very significant limit on presidential power: the 30-day limit. And the statute is quite clear that this limit should not be evaded. Again, it states that “no” services made available to the president “shall extend for any period in excess of 30 days, unless the Senate and the House of Representatives enact into law a joint resolution authorizing such an extension.” (The law also permits Congress to extend this 30-day limit by adjourning “sine die,” meaning that Congress adjourns without formally setting a date for its return, something it typically only does for a brief period every year.)

So what happens if, a month from now, Trump declares a new emergency and tries to seize control of DC’s police for another 30 days? If the courts conclude that he can do that, they would make a mockery of the Home Rule Act’s text. Presidents should not be allowed to wave away an explicit statutory limit on their authority by photocopying an old executive order and changing the dates.

That said, the Supreme Court is dominated by Republicans who recently held that Trump may use the powers of the presidency to commit crimes. So, while the Home Rule Act is very clear about the 30-day limit on Trump’s power, there is no guarantee that this Supreme Court will rule that the law applies to him.

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President Donald Trump Blocks DEI-Focused AI Tools in Federal Use https://earlybirdsinvest.com/president-donald-trump-blocks-dei-focused-ai-tools-in-federal-use/ https://earlybirdsinvest.com/president-donald-trump-blocks-dei-focused-ai-tools-in-federal-use/#respond Mon, 28 Jul 2025 05:37:25 +0000 https://earlybirdsinvest.com/president-donald-trump-blocks-dei-focused-ai-tools-in-federal-use/

President Donald Trump has signed an executive order that bars US government agencies from working with artificial intelligence (AI) companies whose systems are seen as politically biased.

The order, published on July 23, said government departments can only use AI tools that are neutral and focused on facts. Models that support ideas like diversity, equity, and inclusion, often referred to as DEI, are called out as being off-limits.

The administration argues that these values, when built into AI, reduce the accuracy and trustworthiness of the technology.

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The document claims that replacing facts with politically driven content is a threat to creating dependable AI systems. It is described as an “existential threat to reliable AI” and insists that federal agencies should avoid tools that promote certain viewpoints.

Several examples are included in the order. One case involves AI tools that alter the race or gender of historical figures, such as the Founding Fathers or the Pope.

A separate example focuses on Google’s Gemini AI, which reportedly told users to avoid “misgendering” people, even in extreme situations such as a nuclear disaster.

The new rule will apply to all civilian agencies. However, it allows national security programs to make exceptions if needed. AI tools that meet the requirements for “truth-seeking” and “neutrality” will still be allowed.

The executive order is part of a broader plan released the same day to boost AI in the US. What does the proposal cover? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Open Banking Battle: Crypto Orgs Urge Donald Trump to Step In https://earlybirdsinvest.com/open-banking-battle-crypto-orgs-urge-donald-trump-to-step-in/ https://earlybirdsinvest.com/open-banking-battle-crypto-orgs-urge-donald-trump-to-step-in/#respond Sat, 26 Jul 2025 18:46:33 +0000 https://earlybirdsinvest.com/open-banking-battle-crypto-orgs-urge-donald-trump-to-step-in/

A group of trade organizations representing the crypto, fintech, retail, and restaurant industries has asked US President Donald Trump to support rules that let people share their financial data with apps and services of their choice.

According to a letter dated July 23, groups such as the Blockchain Association, Crypto Council for Innovation, and Financial Technology Association said that big banks are working against innovation.

These banks are suing to stop the open banking rule and making it harder for apps to get the information they need to function.

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The letter read:

Let us be clear: financial data belongs to the American people, not the banks. The freedom to choose financial tools and control one’s own data is fundamental to free markets and personal liberty—core American values.

The groups are requesting that the Trump administration submit a legal brief by July 29. This brief would tell the court that consumers, not banks, own their financial data and should be able to share it with other services without paying fees.

The letter also explains that the rule helps everyone in the financial system. It stated that the rule improves safety and gives clear standards for data sharing. These standards benefit banks, tech firms, and crypto companies alike.

Additionally, the letter said that strong innovation in this area has made the US a global leader in finance.

On July 17, several banking and credit union groups asked US regulators to hold off on granting federal bank licences to crypto companies. What did they say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Donald Trump Taps Crypto Lawyer Eric Tung for Key Ninth Circuit Seat https://earlybirdsinvest.com/donald-trump-taps-crypto-lawyer-eric-tung-for-key-ninth-circuit-seat/ https://earlybirdsinvest.com/donald-trump-taps-crypto-lawyer-eric-tung-for-key-ninth-circuit-seat/#respond Sat, 19 Jul 2025 21:18:03 +0000 https://earlybirdsinvest.com/donald-trump-taps-crypto-lawyer-eric-tung-for-key-ninth-circuit-seat/

President Donald Trump has nominated Eric Tung, a corporate lawyer known for his work with cryptocurrency companies, for a seat on the US Court of Appeals for the Ninth Circuit.

The nomination was sent to the Senate on July 15 for consideration. The Ninth Circuit covers several western states, including California, Washington, Oregon, and Hawaii, where many technology and cryptocurrency businesses are based.

Tung has been a partner at the law firm Jones Day since 2019. Court filings revealed that he worked with the Blockchain Association in its lawsuit against the US Treasury Department, which was brought by six Tornado Cash users after the department sanctioned the platform.

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Additionally, he represented an investor who sued HDR Global Trading, the parent company of cryptocurrency exchange BitMEX



$105.06K

.

If confirmed, Tung would help decide appeals involving businesses from Silicon Valley and other areas in the court’s jurisdiction.

However, the group Accountable.US stated that Tung has a history of helping cryptocurrency firms avoid government oversight.

According to a public statement on July 17, the group said:

Tung has built his career representing crypto firms seeking to avoid government regulation. He served as counsel for a stablecoin provider in a brief arguing standalone sales of stablecoins are not securities.

Accountable.US explained that Tung previously worked on a legal brief for the Blockchain Association opposing rules on permanent smart contracts.

Recently, President Trump met with House Republicans to regain support for three stalled crypto bills. What did he say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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New Donald Trump plan could unlock $9 trillion for crypto and end taxes on small Bitcoin payments https://earlybirdsinvest.com/new-donald-trump-plan-could-unlock-9-trillion-for-crypto-and-end-taxes-on-small-bitcoin-payments/ https://earlybirdsinvest.com/new-donald-trump-plan-could-unlock-9-trillion-for-crypto-and-end-taxes-on-small-bitcoin-payments/#respond Fri, 18 Jul 2025 10:07:08 +0000 https://earlybirdsinvest.com/new-donald-trump-plan-could-unlock-9-trillion-for-crypto-and-end-taxes-on-small-bitcoin-payments/

President Donald Trump is reportedly intensifying his pro-crypto agenda with plans to expand access to trillions from retirement funds and ease taxation for everyday crypto use.

According to a June 17 report by the Financial Times, sources familiar with the matter say the President could soon issue an executive order allowing 401(k) retirement plans to invest in cryptocurrencies, gold, and private equity.

This initiative would mark a major shift in US retirement policy. Traditionally, 401(k) plans are limited to conventional assets like stocks and bonds. By including crypto and other alternatives, the White House aims to modernize investment options and tap into the growing appeal of digital assets.

A 401(k) is a tax-advantaged retirement plan in which US employees contribute a portion of their wages to an investment account. The new executive order is expected to direct federal regulators to evaluate and revise existing rules that currently restrict access to alternative assets.

If implemented, the move could lead to policies supporting direct crypto ownership, exposure through ETFs, and investments in blockchain-focused companies.

Omar Kanji, a partner at crypto venture firm Dragonfly, called the development the “biggest unlock” for the digital asset sector.

He noted:

“US retirement assets sit at $43 trillion, with $9 trillion in 401ks. With Trump opening the flooodgates, if crypto sees just a 1% allocation from 401ks, that’s ~$90B in fresh inflows. The retirement market is enormous, and the real party is about to get started.”

Bitcoin tax relief

In a separate development, the Trump administration is exploring a “de minimis” tax exemption for small crypto transactions. This would remove capital gains tax obligations for minor purchases made with digital assets like Bitcoin.

White House Press Secretary Karoline Leavitt confirmed that the administration is actively considering the policy as part of its strategy to promote crypto usage.

Currently, US tax law treats every crypto transaction as a taxable event that requires reporting of even small profits. The proposed exemption would mirror existing rules that waive taxes on foreign currency gains under $200, reducing the administrative burden for users making low-value purchases.

Custodia Bank CEO Caitlin Long emphasized the magnitude of this potential change, stating that it could surpass the impact of the GENIUS Act, a recently approved pro-crypto legislation.

If enacted, the exemption could accelerate Bitcoin’s role as a functional payment method rather than just an investment vehicle.

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