New York’s wealthiest parasites are freaking our that their money can’t always buy elections.

As reported in The New York Times, Manhattan’s premiere collection of real estate vampires gathered for an emergency pearl-clutching session at the Seagram Building’s Pool Room for an emergency planning meeting on how to ensure disgraced-governor-turned-desperate-candidate Andrew Cuomo wins the mayoral race over Zohran Mamdani, who is currently crushing Cuomo in the polls.

Developer billionaire Jeff Blau sent out a fear-soaked email blast dripping with flop sweat: “Sorry for the late notice, but there is no more time for delay, discussion, or dithering — we must act decisively to ensure that the next mayor of New York is Andrew Cuomo. The only viable candidate with the experience, support and gravitas to defeat Zohran Mamdani is Governor Andrew Cuomo. We cannot afford hesitation,” the email read. “Every one of us must get involved immediately. We cannot afford hesitation. Every one of us must get involved immediately. The time to act is now. If we fail to mobilize, the financial capital of the world risks being handed over to a socialist this November. We cannot — and will not — let that happen,” warned the email.

The Times reports that “In addition to the Blaus, the invitation was signed by, among others, a co-owner of the Seagram Building, Aby Rosen; the billionaire philanthropist Laurie M. Tisch; and the hedge fund billionaire Gregg Hymowitz.”

Meanwhile, current Mayor Eric Adams is polling at a robust 9% while allegedly shopping for a Saudi ambassadorship.

Previously:
• Mamdani more popular with NYC conservatives than Cuomo and Adams
• Video celebrates Mamdani’s historic win and claps back at racial microaggressions
• Mamdani overwhelms Cuomo in NYC primary
• Mamdani won more votes in round 1 than Cuomo received in every round

Polymarket traders are pricing low probabilities on several notable phrases being spoken during President Donald Trump’s joint news conference with Russian President Vladimir Putin in Anchorage today, even as volumes on the event’s prediction markets reach six figures.

The markets, which resolve on whether Trump uses specific words or phrases during the appearance, have drawn a combined volume of nearly $200,000 across multiple terms.

Per Polymarket data, the contract on whether Trump will say “Russia” or “Ukraine” at least 15 times carries a 79% implied probability, with about $15,300 traded. “Ceasefire” three or more times is at 72% on $11,334 volume. Other terms with higher probabilities include “Zelensky” at 88% ($37,780) and “BRICS” or “NATO” two or more times at 68% ($11,487). Markets for “secondary tariff” or “sanction” carry a 69% chance, while “Steve” or “Witkoff” is priced at 65%.

In contrast, some phrases are priced with sharply lower odds. “Crypto” or “Bitcoin” has attracted over $51,700 in volume yet holds just a 3% chance of being spoken. “Hell” three or more times is at 28%, “President Xi” sits at 27%, and several terms such as “Kyiv,” “Crimea,” “Biden,” and “Rare Earth” are clustered near the 40–50% range.

All markets resolve based on the official video or audio of the August 15 event, with any usage, including plural or possessive forms, counting toward settlement.

A separate Polymarket contract speculates on the length of the leaders’ handshake, drawing over $180,000 in total volume. The most traded outcome is a duration of 10 seconds or longer, at 24% with $56,092 volume, followed by 4–6 seconds at 27% and 2–4 seconds at 20%. The least probable outcome is under two seconds at just 4%.

The Alaska summit marks the first in-person Trump–Putin meeting since 2019 and the first U.S.-hosted bilateral meeting with a Russian leader since 2007.

As the Washington Post reported, the talks come without Ukrainian participation, a decision that has drawn objections from Kyiv and European allies. Per the Guardian, the Kremlin is expected to bring economic proposals alongside territorial demands related to the war in Ukraine.

Polymarket, which allows users to trade on crypto event outcomes, has become a closely watched barometer for sentiment around political and geopolitical events. The platform previously hosted a market on whether the summit would take place at all, which saw nearly $3 million in total wagers before resolving “Yes” with the meeting’s confirmation. Market prices shift dynamically as traders buy and sell shares in “Yes” or “No” outcomes, reflecting the crowd’s real-time assessment of probabilities.

The event’s timing has drawn interest from traders monitoring potential impacts on energy and macro markets. As MarketWatch noted, oil futures could react to any perceived breakthrough or breakdown in talks, with possible price swings of several dollars per barrel.

Bitcoin and Ethereum, which move in response to macro and geopolitical developments, may also be influenced by post-summit sentiment, though the dedicated “Crypto/Bitcoin” term market implies traders do not expect the asset class to feature in Trump’s public remarks.

Trump is scheduled to hold the joint news conference following his one-on-one meeting with Putin at Joint Base Elmendorf–Richardson. The markets on Polymarket will close once the event concludes and recorded evidence confirms the results, with any absence of a public appearance by August 16 triggering a “No” resolution across all contracts.

Mentioned in this article

Indonesia has opened discussions on integrating Bitcoin (BTC) into its national reserves following a high-level meeting between the Vice President’s office and Bitcoin Indonesia, Asia’s largest BTC community.

The meeting marked a pivotal moment in Indonesia’s evolving approach to digital assets, as officials explored the potential role of Bitcoin in strengthening long-term economic resilience.

Among the ideas discussed were the use of Bitcoin mining as a reserve strategy and the benefits of holding BTC as a hedge against inflation and global monetary instability.

Bitcoin as a reserve asset

Bitcoin Indonesia facilitated the meeting by presenting macroeconomic trends, including changing global reserve strategies, inflationary risks, and increasing crypto adoption among sovereign nations.

Officials reportedly showed interest in further education on the asset class, with some expressing curiosity about projections linking Bitcoin’s value trajectory to Indonesia’s 100th independence anniversary in 2045.

Indonesia’s reserve portfolio currently consists primarily of gold, U.S. dollars, and sovereign bonds. The inclusion of Bitcoin would mark a strategic expansion into digital assets, following in the footsteps of countries like El Salvador and Bhutan, which have incorporated Bitcoin through state-led purchases and mining operations.

Sovereign accumulation

The meeting came as other nations accelerate their Bitcoin strategies after the US established its own Strategic Bitcoin Reserve earlier this year, holding nearly 200,000 BTC it confiscated over the years.

Meanwhile, US states like Texas have furthered plans to establish their own BTC reserves separate from the federal government.

Trailblazer El Salvador holds more than 6,000 BTC, while Bhutan has built one of the world’s largest sovereign Bitcoin positions through mining.

Kazakhstan is reviewing investment plans involving Bitcoin ETFs and blockchain firms, while neighboring Pakistan is looking to direct excess energy to mining Bitcoin and adopt it as a reserve asset.

These developments have prompted Indonesian officials to reassess their reserve mix and consider whether digital assets offer advantages in a shifting global economy.

Presenters suggested that gradual adoption, through limited holdings or mining, could complement existing frameworks without disrupting traditional reserve structures.

Today, the Southern District of New York (SDNY) held a final status meeting hearing in the tornado cash case, a trial that begins this Monday, July 14th.

The hearing was essentially held, with attendees including Judge Katherine Polk Failla (the judge who presides the trial), Roman Storm, co-founder of Tornado Cash, and members of the defense and prosecutors.

Storm faces three accusations. It is a conspiracy to commit money laundering, a conspiracy to run an unlicensed remittance business, or a conspiracy to commit a sanction.

The main topics discussed at the hearing include:

• The basis for the New York State Court to become the venue for the trial
• The impact of the storm Bloomberg Reporter who reported Tornado Cash in March 2020
• Whether or not all actions by Tornado Cash Cofounders and developers continue to carry out Tornado Cash has facilitated the conspiracy in the prosecution of Storm
• Tolerance of data extracted from phones by Alexey Pertsev, co-founder of Tornado Cash
• How Judge Fila plans to focus more on how Storm runs his for-profit business than on details of Tornado Cache’s encryption mixing software.

Before engaged in these topics, Judge Phila shared some important details regarding the minutes of the trial.

Trial details

The trial begins at 9:30am EST on Monday morning, with one of the first items on the docket being a ju apprentice’s choice.

Judge Phila noted that the trial will not be recorded, broadcast or rebroadcast. (I’m there to cover most, if not all, of it!)

She also hopes to see the trial close within three weeks, but she doesn’t think it will, and she may need to take a little break from trial to celebrate her sick mother’s birthday.

Additionally, Judge Phila said no opening statement would be made until Tuesday, July 15th.

Why Tornado Cash Trials are being held in SDNY

Prosecutors say the trial is underway in SDNY as Storm operated a website that promotes tornado cash transactions from New York City for a period of time.

Prosecutors alleged that Storm also funded tornado cash and frequently communicated with one of the then-New York City-based venture capital (VC) principals.

Prosecutors added that Storm frequently requests from the VC principal, and that the requests are not merely related to fundraising.

Storm “fix” a Bloomberg Reporter

Prosecutors explained how Storm contacted him in March 2020. Bloomberg The reporter who wrote a story about Tornado cash would have the reporter change the story so that the authorities would not recognize Tornado cash from a negative standpoint.

They allegedly said that Storm spoke to reporters and that the persuasive reporter described the story as “inaccurate the story.”

The defense retreated and Storm said he had contacted reporters only to ensure that “appropriate modifications” had been made to the story.

Storm did not discuss the issue at the hearing.

Promote all the recharged plots?

Prosecutors have brought to the notion that all the efforts Storm and his co-founders made in running a for-profit organization that utilized tornado cash technology further promoted all the conspiracy that Storm was indicted.

One of the efforts cited by the prosecutors was Storm and his co-founder, encouraging US-based Tornado Cash users to use the service, which led to North Korean hackers creating a larger pool of capital for money mixed with software (which makes it easier to anonymize funds).

When the prosecutors made this argument, the judge pushed back and asked the prosecutor to clarify whether he believed the tornado cash co-founder to lift the business and promoted the accused conspiracy.

This put the prosecutors on pause, and at this moment one of the defense counsels moved to dismiss the charges against Arashi due to a lack of venue.

The judge quickly denied the move before claiming that such a request had made her very annoyed, which made her “run off in a hive.”

Graykey Progress Report

Throughout the hearing, Judge Phila raised a Graykey Data extraction from Alexey Pertsev’s phone. (Peltsev was sentenced to five years in the Netherlands for his involvement in tornado cash.)

Heading into the second half of the hearing, she asked both the prosecutor and the defense if they had any questions about Pertsev’s phone, then raised questions about whether the data extracted from Pertsev’s phone was acceptable. She decided to postpone the decision on the matter until trial.

She then requested that both the prosecutor and the defense review the data in question and the process it was obtained and be prepared to address the issue during trial.

Focus on the front end

It was clear that Judge Phila would at least focus on tornado cash as a mixing service, not on the front-end interface, a website created by Storm to facilitate transactions through Tornado Cash software.

“(We’re not going to think about a mix of encryption,” the judge said.

However, she said she was waiting for a response from the defense to what she wrote.

Witness and movement In Limin

Aside from the above issues, attendees at the hearing discussed the case’s witnesses and supplementary movements. In Limin (Not publicly disclosed before or during trial because it is irrelevant, prejudiced or unacceptable).

However, the witness’s name was not disclosed at the hearing, but prosecutors said “Withdate #1” had recently been identified and interviewed the witness.

The judge granted the request for defense to rule out certain material related to Witness #1.

Multiple movements In Limin It was discussed. During this part of the hearing, the judge told the prosecutor that he should not do anything like discussing the emotional stress that witnesses endured from having funds that frozen tornado cash.

Instead, she said she prefers witnesses who are victims who freeze funds, whether they reach out to the tornado cash team or not to have their funds frozen.

It was not discussed

During today’s hearing, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) has not removed tornado cash from the sanctions list, nor the court recently deleted a Coincenter’s appeal to OFAC on the issue.

Dogecoin Doge has experienced a sharp swing over the past 24 hours, initially surged to 20 cents and then fell to 19.1 cents, representing the 6.63% range.

Meme Coin formed a V-shaped recovery pattern later in the session, with resistance slightly above 20 cents, but resistance remains slightly firm, but volume rises back to $0.192.

News background

• Dogecoin’s latest price action comes amid a series of crypto market reforms, and renewed interest in Meme Tokens.
• Speculations about the potential of Doge ETFs have gained traction, with multi-tiered data showing a 51% chance of SEC approval in 2025. This is a development that allows facility capital to be injected into the market.
• Meanwhile, the integration of Dogecoin and Coinbase’s base network adds functional value and is now introducing wrap doge into the Defi ecosystem for the first time at scale.
• Meme Coin’s ability to approach key levels and elicit large amounts of support suggests that institutional buyers may be quietly building their positions, even when retailers remain cautious.

Technical analysis breakdown

•Doge spiked from $0.196 to $0.204 (4.08%), then turned sharply to $0.191 (range 6.63%).

• Resistance was confirmed at $0.203-0.204 with three rejections (>1B units at 07:00) with heavy volume.

• Support formed at $0.192 with a short rebound from this level despite debilitating.

•Final time fell from $0.192 to $0.190, followed by a V-shaped recovery to $0.192.

• The accumulation label increased in volume by more than 2.3m at the final minute, and the accumulation label appeared.

Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level Bitcoin reserve in a cryptic post following his meeting with two of El Salvador’s Bitcoin policy leaders.

“Bitcoin Reserve,” Mizrachi wrote to X on May 16 after meeting El Salvador-based Bitcoiners Max Keiser and Stacy Herbert.

While Mizrachi didn’t share details about his discussions with Keiser and Herbert, the timing of the post came 11 days before the Bitcoin 2025 conference in Las Vegas, where Mizrachi is scheduled to speak.

The creation of a Bitcoin reserve in Panama City would follow a recently approved measure permitting the use of crypto for public payments, including taxes, fines and municipal fees.

Bitcoin (BTC), Ether (ETH), Tether (USDT) and USDC (USDC) will be accepted once the crypto-to-fiat payment rails are established, Mizrachi said at the time.

To push for a Bitcoin reserve at the federal level, Mizrachi would need to collaborate with Panama’s National Assembly to craft legislation. 

There’s no evidence to suggest that he has taken such measures.

Mizrachi’s post follows the recent enactments of two Bitcoin reserve bills in the US states of Arizona and New Hampshire. 

Ukraine is also reportedly inching closer toward adopting Bitcoin as a national reserve asset, local media reported earlier in the month.

Mizrachi, Keiser and Herbert discussed Bitcoin mining, education

A post from Keiser suggests the trio spoke about how Panama and El Salvador can leverage renewable energy to bolster their Bitcoin mining operations.

“Bitcoin is transforming Central America. El Salvador’s geothermal & Panama’s hydro-electric will power the Bitcoin revolution.”

Herbert also noted that Panama City will integrate El Salvador’s “What is Money?” financial literacy textbook into its online library system.

Related: Basel Medical shares down 15% on $1B Bitcoin buying plans

Keiser and Herbert have played a crucial role in crafting El Salvador’s Bitcoin policy, which includes a Bitcoin reserve consisting of 6,179 Bitcoin (BTC), worth nearly $640 million.

Keiser serves as President Nayib Bukele’s Bitcoin advisor, while Herbert runs the country’s Bitcoin Office.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

]]> https://earlybirdsinvest.com/panama-city-mayor-teases-bitcoin-reserve-after-meeting-el-salvadors-bitcoin-leaders/feed/ 0 36678 https://earlybirdsinvest.com/panama-city-mayor-hints-at-bitcoin-reserve-following-meeting-with-el-salvador-advisors/ https://earlybirdsinvest.com/panama-city-mayor-hints-at-bitcoin-reserve-following-meeting-with-el-salvador-advisors/#respond Fri, 16 May 2025 16:42:26 +0000 https://earlybirdsinvest.com/panama-city-mayor-hints-at-bitcoin-reserve-following-meeting-with-el-salvador-advisors/

The biggest asset manager in the world met with the U.S. Securities and Exchange Commission (SEC) to discuss several aspects of its crypto market regulation.

According to a new memo, asset management giant BlackRock met with the SEC Crypto Task Force to discuss crypto staking, asset tokenization, the firm’s suite of digital asset products, crypto exchange-traded product (ETP) approval standards, as well as options on crypto ETPs.

“On May 9th, 2025, Crypto Task Force Staff met with representatives from BlackRock, Inc. The topic discussed was approaches to addressing issues related to the regulation of crypto assets.”

The SEC Crypto Task Force, led by Commissioner Hester Peirce, was launched in January 2025 by then Acting Chairman Mark T. Uyeda to create clear crypto guidelines and provide realistic paths to registration.

Earlier this month, BlackRock, which has over $11 trillion under its management, continued its expansion into the world of digital assets as it purchased billions of dollars worth of Bitcoin (BTC), the top crypto asset by market cap.

Data from Bitcoin Treasuries reveals that the iShares Bitcoin Trust (IBIT), BlackRock’s BTC-based exchange-traded fund (ETF), currently has 620,252 BTC worth about $64.327 billion.

IBIT, which was launched in January 2024, is currently the largest BTC-based ETF and holds the record for the most successful ETF launch in history.

Bitcoin is trading for $103,213 at time of writing, a marginal increase during the last 24 hours.

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