The Crypto Election, OpenAI "Voice Mode," and America's Military Decline

Tipping Point Quick Hits (08.01.24)

Are American Politicians Becoming Crypto-Friendly?

After a high-profile crash in 2022, cryptocurrencies are back in the public consciousness and look to become major talking points in this year’s presidential race. Last week, Donald Trump spoke at a Bitcoin conference in Nashville and told the audience that he wants the United States to become the “crypto capital of the planet.”

That’s a change for him. During his term as president, Trump spoke out against Bitcoin and other digital currencies, citing concerns about their potential use in illegal activities like the drug trade. He pointed out that they didn’t have any real value as investment vehicles or stores of value. That was one of the few policy ideas he and Joe Biden shared.

Today Trump has another perspective, telling the Bitcoin conference attendees that his government would ease regulation of the industry and establish a National Strategic Bitcoin Reserve within the federal government. He announced he would implement several industry-friendly policies were he elected, along with installing a crypto-friendly Securities and Exchange Commission chair.

At the same time, however, he said he would block the Federal Reserve from creating its own digital currency: