AlCircle

alcircle

What is Flutter and How Does it Work?

Elon Musk will say ANYthing to remain in the spotlight. Having bought Twitter, fired (or forced out) most of its workforce, and attempted to burn it into the ground out of pure spite, the eccentric billionaire and supposed visionary is now touting the idea of creating a new phone if Apple and Google were to ever ban his social media company from their app stores for not playing by their rules. Musk clearly wants to trend over the internet, so much so that he'll say the most bizarre sh*t just to do so. For example, there really isn't any immediate reason to believe that Apple or Google would take down Twitter from their app stores. But that didn't stop Musk from flaunting the idea in response to a tweet by pro-conservative podcaster Liz Wheeler. Not surprisingly, the media ate it up, with write-ups after write-ups of the world's richest man tweeting that he'll build a phone. Never mind the fact that Twitter's current predicament (and a supposed ban from app stores in the future) is of Musk's own causing, with advertisers pausing spending on the platform specifically because of all the changes he's making at the social media company. One of those changes was letting users purchase Twitter's coveted 'verified' checkmark for $8 a month regardless of their identity, which turned out as well as you'd expect. Supposedly chastised by the experience, Musk is still interested in selling the 'verified' checkmark, but after a "manual" authentication, i.e. what Twitter was already doing before its new CEO decided to hand out the 'blue tick' like candies. The only difference this time is that anyone can apply for the checkmark (as long as they verify themselves), and Twitter will charge for the service — which not only defeats the purpose of the feature but isn't even a good way for the company to bounce back from consistent losses. Musk insists that the Twitter purchase is a precursor to his 'everything app' X, but only time will tell whether the tech 'entreprenuer' will be successful in creating a software to rule them all. Twitter ranked #51 in this week's tech company rankings, down seven spots from last week. As an additional note, it sucks that we have to keep reporting on Musk because he just won't stop trending all over the internet. We've already started to experience Musk fatigue, and the last thing we want is to turn this feature into the Elon Musk News Brief. Black Friday Has Come and Gone..📱 .. yet many consumers could not get their hands on the iPhone. As we reported previously, the Chinese factory that produces the phones is dealing with COVID-19-related lockdowns, hurting iPhone production and causing deep discontent within its workforce. Just this past week, workers began clashing against security personnel, held mass protests and continued to flee the location despite promises of better pay and bonuses. Both Apple and Best Buy have already __flagged __a scarcity of the iPhone 14s. We can only imagine the joy scalpers are experiencing, especially considering that Christmas is right around the corner and consumers are looking to snag a smartphone as part of their holiday shopping. In fact, just on eBay, some sellers are charging premiums of upwards of $1k+ for the phones, so good luck getting one! Apple ranked #7 in this week's Tech Company Rankings. Oh, How The Roles Reverse 🏛️ Until recently, FTX's former CEO Sam Bankman-Fried (or SBF) was known for spending time in Washington, D.C., rubbing shoulders with the who's who of the U.S. government as part of his personal brand championing regulation in the crypto industry. All of that came to a halt after the downfall of FTX, yet calls for regulation remain, this time from an unlikely source: SBF's competitor and owner of now the largest crypto exchange in the world, Changpeng Zhao. Zhao, the founder and CEO of Binance, recently told Tech Crunch: "Regulation is essential for the crypto industry and will go a long way towards building trust with consumers and institutions interested in the space." Zhao then echoed those comments at a company event in Athens. By all accounts, Zhao and SBF were stark opposites of each other, but it's quite interesting to see how Zhao has taken up the mantle of regulation now that SBF is dealing with legal problems involving FTX. Binance ranked #21 in this week's Tech Company Rankings. In Other News..📰 Amazon, which ranked #31 this week, has decided to discontinue two services in the world's largest democracy India: one related to food-delivery and another related to eLearning. 🧑‍🎓
Russia's justice ministry has categorized Facebook-owner Meta as an extremist organization. Facebook and Meta ranked #1 and #13 respectively this week. 🔫
If you're a World of Warcraft fan, there's a great YouTube video on why it's rude to suck at the game. Check it out here! 🏅 And that's a wrap! This has been the tech company brief, and you were reading Issue #26! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon Elon Musk will say ANYthing to remain in the spotlight. Having bought Twitter , fired (or forced out) most of its workforce, and attempted to burn it into the ground out of pure spite, the eccentric billionaire and supposed visionary is now touting the idea of creating a new phone if Apple and Google were to ever ban his social media company from their app stores for not playing by their rules. Twitter Twitter burn it into the ground burn it into the ground creating a new phone creating a new phone Apple Apple Google Google Musk clearly wants to trend over the internet, so much so that he'll say the most bizarre sh*t just to do so. For example, there really isn't any immediate reason to believe that Apple or Google would take down Twitter from their app stores. But that didn't stop Musk from flaunting the idea in response to a tweet by pro-conservative podcaster Liz Wheeler. Not surprisingly, the media ate it up, with write-ups after write-ups of the world's richest man tweeting that he'll build a phone. Never mind the fact that Twitter's current predicament (and a supposed ban from app stores in the future) is of Musk's own causing, with advertisers pausing spending on the platform specifically because of all the changes he's making at the social media company. predicament predicament pausing spending pausing spending because One of those changes was letting users purchase Twitter's coveted 'verified' checkmark for $8 a month regardless of their identity, which turned out as well as you'd expect . Supposedly chastised by the experience, Musk is still interested in selling the 'verified' checkmark, but after a " manual " authentication, i.e. what Twitter was already doing before its new CEO decided to hand out the 'blue tick' like candies. The only difference this time is that anyone can apply for the checkmark (as long as they verify themselves), and Twitter will charge for the service — which not only defeats the purpose of the feature but isn't even a good way for the company to bounce back from consistent losses. as well as you'd expect as well as you'd expect still interested still interested manual manual new CEO new CEO bounce back bounce back Musk insists that the Twitter purchase is a precursor to his 'everything app' X, but only time will tell whether the tech 'entreprenuer' will be successful in creating a software to rule them all. precursor precursor Twitter ranked #51 in this week's tech company rankings, down seven spots from last week. As an additional note, it sucks that we have to keep reporting on Musk because he just won't stop trending all over the internet. We've already started to experience Musk fatigue, and the last thing we want is to turn this feature into the Elon Musk News Brief . Elon Musk News Brief Black Friday Has Come and Gone.. 📱 Black Friday Has Come and Gone.. .. yet many consumers could not get their hands on the iPhone. As we reported previously , the Chinese factory that produces the phones is dealing with COVID-19-related lockdowns, hurting iPhone production and causing deep discontent within its workforce. Just this past week , workers began clashing against security personnel, held mass protests and continued to flee the location despite promises of better pay and bonuses. could not get their hands could not get their hands reported previously reported previously this past week this past week Both Apple and Best Buy have already __ flagged __a scarcity of the iPhone 14s. We can only imagine the joy scalpers are experiencing, especially considering that Christmas is right around the corner and consumers are looking to snag a smartphone as part of their holiday shopping. In fact, just on eBay, some sellers are charging premiums of upwards of $1k+ for the phones, so good luck getting one! flagged Apple ranked #7 in this week's Tech Company Rankings. Oh, How The Roles Reverse 🏛️ Oh, How The Roles Reverse Until recently, FTX's former CEO Sam Bankman-Fried (or SBF) was known for spending time in Washington, D.C., rubbing shoulders with the who's who of the U.S. government as part of his personal brand championing regulation in the crypto industry. All of that came to a halt after the downfall of FTX, yet calls for regulation remain, this time from an unlikely source: SBF's competitor and owner of now the largest crypto exchange in the world, Changpeng Zhao. known known rubbing shoulders rubbing shoulders downfall downfall Zhao, the founder and CEO of Binance , recently told Tech Crunch : "Regulation is essential for the crypto industry and will go a long way towards building trust with consumers and institutions interested in the space." Binance Binance told told Tech Crunch Zhao then echoed those comments at a company event in Athens. By all accounts, Zhao and SBF were stark opposites of each other, but it's quite interesting to see how Zhao has taken up the mantle of regulation now that SBF is dealing with legal problems involving FTX. echoed those comments echoed those comments legal problems legal problems Binance ranked #21 in this week's Tech Company Rankings. In Other News.. 📰 In Other News.. Amazon, which ranked #31 this week, has decided to discontinue two services in the world's largest democracy India: one related to food-delivery and another related to eLearning. 🧑‍🎓 Russia's justice ministry has categorized Facebook-owner Meta as an extremist organization. Facebook and Meta ranked #1 and #13 respectively this week. 🔫 If you're a World of Warcraft fan, there's a great YouTube video on why it's rude to suck at the game. Check it out here! 🏅 Amazon , which ranked #31 this week, has decided to discontinue two services in the world's largest democracy India: one related to food-delivery and another related to eLearning . 🧑‍🎓 Amazon Amazon food-delivery food-delivery eLearning eLearning Russia's justice ministry has categorized Facebook -owner Meta as an extremist organization . Facebook and Meta ranked #1 and #13 respectively this week. 🔫 Facebook Facebook Meta Meta extremist organization extremist organization If you're a World of Warcraft fan, there's a great YouTube video on why it's rude to suck at the game. Check it out here ! 🏅 here here And that's a wrap! This has been the tech company brief, and you were reading Issue #26! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon

Someone Give Musk The Spotlight

Alguien le da a Musk el centro de atención

Quelqu'un donne à Musk la vedette

कोई मस्क को स्पॉटलाइट दे

誰かがマスクにスポットライトを当てる

Alguém dá a Musk os holofotes

Ai đó cho Musk sự chú ý

有人让马斯克成为焦点

Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of . You can jump to any part in this filing . This is part 22 of 31. HackerNoon’s Legal PDF Series here FACTUAL ALLEGATIONS VII. Defendants materially breach their obligations to work toward closing and refrain from unreasonable withholding of consent to operational changes B. Musk delays and stymies key operational decisions 115. Since signing, Twitter has complied in all respects with its obligation under Section 6.1 of the merger agreement to operate the business in the ordinary course. In an excess of caution, the company has sought Musk’s consent even for matters falling well within the zone of commercial reasonableness. Though Musk has approved some of Twitter’s requests, he has been slow to respond to ones that required urgency and has unreasonably withheld his consent to others, in breach of his own obligations under Section 6.1. 116. Most notably, Musk has unreasonably withheld consent to two employee retention programs designed to keep selected top talent during a period of intense uncertainty generated in large part by Musk’s erratic conduct and public disparagement of the company and its personnel. 117. During negotiation of the merger agreement, Twitter had sought Musk’s consent to a broad retention plan. Musk’s team deferred decision on the matter; the plan Twitter proposed was detailed, and time for negotiation was short. But Musk indicated he was open to further discussion. 118. During a May 6, 2022 post-signing diligence session, Twitter management again broached the subject of retention, and Musk was noncommittal. He suggested the matter be tabled pending further clarity on the expected interval before closing the deal. 119. Over the weeks that followed, Swan discussed with Twitter management a narrower retention plan than the one that had been discussed during the merger agreement negotiations. Consistent with those discussions, on June 20, 2022, Twitter sent defendants a formal request for consent to two tailored employee retention programs that had been vetted by the board and its compensation committee with the assistance of an outside compensation consultant. 120. Musk initially failed to respond at all to the June 20 consent request. (It would soon become clear that he had fired Swan.) After a follow-up request for consent, Musk’s counsel stated tersely that “Elon is not supportive of this program and has declined to grant consent for it.” Twitter offered to arrange a meeting between Musk and Lane Fox to explain the importance and utility of the proposed programs. Musk’s counsel repeated that Musk “doesn’t believe a retention program is warranted in the current environment,” and said Musk was unwilling to consider the advice of compensation consultants, but left open the possibility of speaking with Lane Fox. 121. On June 28, 2022, following further stonewalling from Musk’s counsel, Twitter urged that a discussion would be fruitful. After initially suggesting Musk might be “amenable to a call next week,” Musk’s counsel replied, “Elon already gave his response but I’ll remind him of Martha’s request for a call.” The call never happened — Musk has continued to duck it — and neither retention program has been implemented due to defendants’ unexplained and unreasonable withholding of consent. Employee attrition, meanwhile, has been on the upswing since the signing of the merger agreement. 122. Defendants have unreasonably withheld consent in other domains as well. On June 14, 2022, Twitter sought consent to terminate Twitter’s existing revolving credit facility, noting that no amounts were presently drawn under the facility and that the facility would have to be terminated in connection with the merger’s consummation. Maintaining the facility requires Twitter to incur ongoing monthly costs. After initially saying he would consent to the termination, Musk withdrew it the next day without explanation. Continue reading here

Musk's 'erratic conduct and public disparagement' caused Twitter employee attrition, per lawsuit

La 'conducta errática y el menosprecio público' de Musk causaron el desgaste de los empleados de Twitter, según la demanda

La «conduite erratique et le dénigrement public» de Musk ont provoqué l'attrition des employés de Twitter, par procès

मस्क के 'अनियमित आचरण और सार्वजनिक तिरस्कार' के कारण प्रति मुकदमा ट्विटर कर्मचारी की उदासीनता हुई

訴訟によると、マスクの「常軌を逸した行動と公の場での誹謗中傷」が原因で、Twitter の従業員が減少した

A 'conduta errática e depreciação pública' de Musk causou atrito com funcionários do Twitter, por ação judicial

'Hành vi thất thường và sự chê bai công khai' của Musk đã khiến nhân viên Twitter bị tiêu hao, theo mỗi vụ kiện

根据诉讼，马斯克的“古怪行为和公开贬低”导致 Twitter 员工流失

Musk is the perfect example of taking a joke too far. After airing his gripe with Twitter's free-speech principles and toying with the idea of building a rival platform, the eccentric billionaire and supposed visionary spent a small fortune to become the largest shareholder of the social media company. What followed was months of legal wrangling in a will he, won't he saga that ultimately ended in Musk being forced to buy the entirety of Twitter for more than what it's probably worth. Musk probably felt very stupid about the whole thing but has now likely fallen victim to the sunk-cost fallacy. Instead of reflecting on the decisions that led him to liquidate some of his own net worth to buy Twitter for $44 billion, he spent his first few days at the company making dumb jokes, laying off employees, and crowning himself CEO. Now he's hell-bent on burning the company to the ground. Just last week, Twitter asked the remaining employees at the company to choose between "working long hours at high intensity" or GTFO. Understandably, hundreds of employees opted to depart instead of working for a megalomaniac, leaving Twitter with a skeleton crew struggling to fix bugs and preventing service outages. Meanwhile, Musk is trying to find someone else to run Twitter. Clearly, fixing the social media company's problems is beyond Musk's depth, so he wants someone else to take responsibility while he justifies his ungodly compensation at electronic vehicle firm Tesla. But here's the thing though: Musk decided to lead Twitter of his own accord. If he had no intention of running the business, he could have just left former CEO Parag Agrawal to run Twitter until a replacement was found. In fact, one has to wonder why Musk decided to buy Twitter in the first place and whether personally involving himself in content moderation is a good idea. Twitter's former execs are probably having a laugh right now, having used the billionaire's hostile takeover bid to jump ship and make millions while leaving the world's richest man to fix the problems that plague the social media company, including its lack of profitability. For now, Musk seems more focused on spurring former U.S. President Donald Trump back to the platform, despite the latter declining the offer after being unbanned from Twitter. Twitter ranked #52 in this week's tech company rankings while Tesla ranked #78. Layoffs Reach Amazon⛈️ And so it happened. Amazon has decided to let go of nearly 10,000 people, following in the footsteps of other tech companies, both small and large, in course correcting now that the COVID-19 pandemic is virtually over. Meanwhile, The Verge published a damning report on a less-known practice at Amazon of hiring employees in India and Costa Rica to review warehouse camera footage in a bid to train the company's warehouse-monitoring algorithms. True to form, Amazon treats its employees even more poorly in low-cost countries, with workers calling their jobs "stressful," "mind-numbing," and "crushing." Amazon ranked #14 in this week's rankings. Business Chat is Where It's At 🤑🤑🤑 In yet another sign that Mark Zuckerberg's focus on the metaverse is doomed to fail, the Meta CEO acknowledged the company's messaging apps WhatsApp and Messenger will drive sales sooner than Horizon Worlds. "We talk a lot about the very long-term opportunities like the metaverse, but the reality is that business messaging is probably going to be the next major pillar of our business as we work to monetize WhatsApp and Messenger more," Zuck was heard telling employees in a company-wide meeting following Meta's decision to let go of 11,000 people. Meta ranked #16 in this week's rankings, while Facebook and Instagram, which are owned by Meta, ranked #1 and #3 respectively. It's Worse Than It Looks 😱 FTX's new CEO John Jay Ray III  — notable for managing the largest corporate failures in history, including Enron's — said he had never in his career seen such a complete failure of corporate controls. Meanwhile, U.S. lawmakers scrambled to figure out who to blame for the lax oversight at FTX whose former CEO Sam Bankman-Fried, or SBF, is said to be hunkered down in an upscale neighborhood in the Bahamas as his now-failed crypto exchange flags nearly $3.1 billion in money owed to its 50 biggest creditors. In Other News..📰 Note-taking and task management app Evernote is being acquired by Italian app developer Bending Spoons. 🤝
Google, which ranked #18 this week, set rules on who employees invite for talks at its headquarters. 🔍
Bob Iger is back at Walt Disney Co., BABY! The former CEO, responsible for acquiring Marvel, Lucasfilm, and Pixar during his tenure, replaces Bob Chapek after just two years of retiring from the role. 👨‍💼 And that's a wrap! This has been the tech company brief, and you were reading Issue #25! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon Musk is the perfect example of taking a joke too far. After airing his gripe with Twitter 's free-speech principles and toying with the idea of building a rival platform, the eccentric billionaire and supposed visionary spent a small fortune to become the largest shareholder of the social media company. What followed was months of legal wrangling in a will he, won't he saga that ultimately ended in Musk being forced to buy the entirety of Twitter for more than what it's probably worth. airing his gripe airing his gripe Twitter Twitter free-speech principles free-speech principles small fortune small fortune will he, won't he being forced being forced Musk probably felt very stupid about the whole thing but has now likely fallen victim to the sunk-cost fallacy. Instead of reflecting on the decisions that led him to liquidate some of his own net worth to buy Twitter for $44 billion, he spent his first few days at the company making dumb jokes, laying off employees , and crowning himself CEO. liquidate liquidate laying off employees laying off employees Now he's hell-bent on burning the company to the ground . burning the company to the ground burning the company to the ground Just last week, Twitter asked the remaining employees at the company to choose between "working long hours at high intensity" or GTFO. Understandably, hundreds of employees opted to depart instead of working for a megalomaniac, leaving Twitter with a skeleton crew struggling to fix bugs and preventing service outages. choose between choose between Meanwhile, Musk is trying to find someone else to run Twitter. Clearly, fixing the social media company's problems is beyond Musk's depth, so he wants someone else to take responsibility while he justifies his ungodly compensation at electronic vehicle firm Tesla . But here's the thing though: Musk decided to lead Twitter of his own accord. If he had no intention of running the business, he could have just left former CEO Parag Agrawal to run Twitter until a replacement was found. In fact, one has to wonder why Musk decided to buy Twitter in the first place and whether personally involving himself in content moderation is a good idea. find someone else find someone else justifies justifies Tesla Tesla personally involving himself personally involving himself Twitter's former execs are probably having a laugh right now, having used the billionaire's hostile takeover bid to jump ship and make millions while leaving the world's richest man to fix the problems that plague the social media company, including its lack of profitability . For now, Musk seems more focused on spurring former U.S. President Donald Trump back to the platform, despite the latter declining the offer after being unbanned from Twitter. make millions make millions lack of profitability lack of profitability declining the offer declining the offer Twitter ranked #52 in this week's tech company rankings while Tesla ranked #78. tech company rankings tech company rankings Layoffs Reach Amazon ⛈️ Layoffs Reach Amazon And so it happened. Amazon has decided to let go of nearly 10,000 people , following in the footsteps of other tech companies, both small and large , in course correcting now that the COVID-19 pandemic is virtually over. Amazon Amazon nearly 10,000 people nearly 10,000 people large large Meanwhile, The Verge published a damning report on a less-known practice at Amazon of hiring employees in India and Costa Rica to review warehouse camera footage in a bid to train the company's warehouse-monitoring algorithms. True to form, Amazon treats its employees even more poorly in low-cost countries, with workers calling their jobs "stressful," "mind-numbing," and "crushing." The Verge published published Amazon ranked #14 in this week's rankings. Business Chat is Where It's At 🤑🤑🤑 Business Chat is Where It's At In yet another sign that Mark Zuckerberg's focus on the metaverse is doomed to fail , the Meta CEO acknowledged the company's messaging apps WhatsApp and Messenger will drive sales sooner than Horizon Worlds. doomed to fail doomed to fail Meta Meta "We talk a lot about the very long-term opportunities like the metaverse, but the reality is that business messaging is probably going to be the next major pillar of our business as we work to monetize WhatsApp and Messenger more," Zuck was heard telling employees in a company-wide meeting following Meta's decision to let go of 11,000 people. heard telling employees heard telling employees Meta ranked #16 in this week's rankings, while Facebook and Instagram , which are owned by Meta, ranked #1 and #3 respectively. Facebook Facebook Instagram Instagram It's Worse Than It Looks 😱 It's Worse Than It Looks FTX's new CEO John Jay Ray III  — notable for managing the largest corporate failures in history, including Enron's — said he had never in his career seen such a complete failure of corporate controls. said said Meanwhile, U.S. lawmakers scrambled to figure out who to blame for the lax oversight at FTX whose former CEO Sam Bankman-Fried, or SBF, is said to be hunkered down in an upscale neighborhood in the Bahamas as his now-failed crypto exchange flags nearly $3.1 billion in money owed to its 50 biggest creditors. who to blame who to blame hunkered down hunkered down $3.1 billion $3.1 billion In Other News.. 📰 In Other News.. Note-taking and task management app Evernote is being acquired by Italian app developer Bending Spoons. 🤝 Google, which ranked #18 this week, set rules on who employees invite for talks at its headquarters. 🔍 Bob Iger is back at Walt Disney Co., BABY! The former CEO, responsible for acquiring Marvel, Lucasfilm, and Pixar during his tenure, replaces Bob Chapek after just two years of retiring from the role. 👨‍💼 Note-taking and task management app Evernote is being acquired by Italian app developer Bending Spoons. 🤝 being acquired being acquired Google , which ranked #18 this week, set rules on who employees invite for talks at its headquarters. 🔍 Google Google set rules set rules Bob Iger is back at Walt Disney Co., BABY! The former CEO, responsible for acquiring Marvel, Lucasfilm, and Pixar during his tenure, replaces Bob Chapek after just two years of retiring from the role. 👨‍💼 back back acquiring acquiring And that's a wrap! This has been the tech company brief, and you were reading Issue #25! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon

Musk Took The Twitter Joke Too Far

Musk tomó la broma de Twitter demasiado lejos

Musk a poussé la blague sur Twitter trop loin

कस्तूरी ने ट्विटर मजाक को बहुत दूर ले लिया

マスクはツイッターのジョークをやりすぎた

Musk levou a piada do Twitter longe demais

Musk đã đưa trò đùa trên Twitter đi quá xa

马斯克把 Twitter 的笑话开得太过分了

👋 Welcome to HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Tell your friends and family to subscribe here. Tech companies (and at least one billionaire) spent most of last week backtracking from statements. Meta, who, having clearly shown full-bodied avatars (yes, full-bodied, with legs!) in its metaverse offering Horizon Worlds went totally back on that demonstration to clarify that CEO Mark Zuckerberg and wife Priscilla Chan's virtual counterparts were, in fact, created using motion capture. Full-bodied avatars are coming to Meta's virtual reality universe but you have to wait until next year before you can see them. This was one of the announcements from Meta's much anticipated but ultimately underwhelming Connect event which also saw the release of Meta Quest Pro — a whopping ~$1,500 virtual reality headset that Meta clarified was not the Quest 3 but instead a less bulky and more advanced version of hardware needed to tune into Zuckerberg's vision of The Matrix. The headset is the social media giant's first big product since Zuckerberg bet his all on the metaverse by rebranding Facebook into Meta, but the new direction hasn't won him investor confidence. In fact, investors' lukewarm response has impacted Zuckerberg's personal net worth and led to calls for him to step down and move aside. Facebook is either ahead of the curve or the next in a long line of failures attempting to create virtual worlds that people can step into, and all this chatter about the company and its future helped it remain comfortably at the top of HackerNoon's Tech Company Rankings for yet another week. 👑 Nvidia presses rewind on 4080 variant ⏪ Nvidia has a problem, and that problem is Nvidia itself. Having launched a pretty badass Founders Edition 4090, the company realized that it couldn't just release two versions of the next graphic card. Officially, having GPUs with the 4080 designation — the 4080 12 GB and 4080 16 GB — would be confusing for consumers, Nvidia said, but observers say that the lower (and cheaper!) 4080 variant was simply a rebranded 4070 (which hasn't been announced yet). With the lower 4080 variant 'unlaunched', consumers are left with no choice but to cough up a premium to get their hands on the remaining version of the graphic card. Nvidia's response to the high graphic prices has basically been to 'shove it'. There was also a minor controversy involving Corsair and a tech YouTube channel that benchmarked the 4090. A Corsair staffer called portions of YouTuber Gamers Nexus' reviews "total bullshit" though Corsair later issued an apology for its employee's conduct. Nvidia was trending #69 on HackerNoon's Tech Company Rankings. Musk '💲mell💲' an opportunity Elon Musk has figured out a way to turn his followers into paying customers, and it involves selling items that capitalize on his popularity and social media reach. Case in point: 'Burnt Hair', a newly announced fragrance that captures the "essence of repugnant desire" and sells for $100 a bottle. Already, the 'perfume' has helped raise $1 million for the world's richest man who only recently reversed course again and agreed to buy Twitter. Throughout the entire 'will he, won't he' Twitter saga, Tesla — which was cofounded by Musk — has seen its stock price rise and fall, kind of like its cofounder's erratic behavior. Musk was also in the news for reversing course on a Starlink-related announcement. The billionaire appeared to be wanting to discontinue Starlink in Ukraine unless the Pentagon paid his company SpaceX for the service, but then apparently had a change of heart and decided to continue providing it. Starlink is SpaceX's satellite internet service and has been crucial in keeping Ukraine’s military online during the war against Russia. Twitter was trending #60 this week, while Tesla was trending #91 on HackerNoon's Tech Company Rankings. And that’s a wrap! Thanks for reading Tech Company News Brief Issue #20! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon 👋 Welcome to HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Tell your friends and family to subscribe here. Welcome to HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Tell your friends and family to subscribe here . here here Tech companies (and at least one billionaire) spent most of last week backtracking from statements. Meta , who, having clearly shown full-bodied avatars (yes, full-bodied, with legs!) in its metaverse offering Horizon Worlds went totally back on that demonstration to clarify that CEO Mark Zuckerberg and wife Priscilla Chan's virtual counterparts were, in fact, created using motion capture . Meta Meta created using motion capture created using motion capture Full-bodied avatars are coming to Meta's virtual reality universe but you have to wait until next year before you can see them. This was one of the announcements from Meta's much anticipated but ultimately underwhelming Connect event which also saw the release of Meta Quest Pro — a whopping ~$1,500 virtual reality headset that Meta clarified was not the Quest 3 but instead a less bulky and more advanced version of hardware needed to tune into Zuckerberg's vision of The Matrix. are Connect Connect not The headset is the social media giant's first big product since Zuckerberg bet his all on the metaverse by rebranding Facebook into Meta, but the new direction hasn't won him investor confidence. In fact, investors' lukewarm response has impacted Zuckerberg's personal net worth and led to calls for him to step down and move aside . Facebook Facebook impacted impacted step down and move aside step down and move aside Facebook is either ahead of the curve or the next in a long line of failures attempting to create virtual worlds that people can step into, and all this chatter about the company and its future helped it remain comfortably at the top of HackerNoon's Tech Company Rankings for yet another week. 👑 long line of failures long line of failures Nvidia presses rewind on 4080 variant ⏪ Nvidia has a problem, and that problem is Nvidia itself. Nvidia Nvidia Having launched a pretty badass Founders Edition 4090, the company realized that it couldn't just release two versions of the next graphic card. Officially, having GPUs with the 4080 designation — the 4080 12 GB and 4080 16 GB — would be confusing for consumers, Nvidia said, but observers say that the lower (and cheaper!) 4080 variant was simply a rebranded 4070 (which hasn't been announced yet). observers say observers say With the lower 4080 variant ' unlaunched ', consumers are left with no choice but to cough up a premium to get their hands on the remaining version of the graphic card. Nvidia's response to the high graphic prices has basically been to 'shove it'. unlaunched unlaunched response response There was also a minor controversy involving Corsair and a tech YouTube channel that benchmarked the 4090. A Corsair staffer called portions of YouTuber Gamers Nexus' reviews "total bullshit" though Corsair later issued an apology for its employee's conduct. called called Nvidia was trending #69 on HackerNoon's Tech Company Rankings . Tech Company Rankings Tech Company Rankings Musk '💲mell💲' an opportunity Elon Musk has figured out a way to turn his followers into paying customers, and it involves selling items that capitalize on his popularity and social media reach. Case in point: ' Burnt Hair ', a newly announced fragrance that captures the "essence of repugnant desire" and sells for $100 a bottle. Burnt Hair Burnt Hair Already, the 'perfume' has helped raise $1 million for the world's richest man who only recently reversed course again and agreed to buy Twitter . Throughout the entire 'will he, won't he' Twitter saga, Tesla — which was cofounded by Musk — has seen its stock price rise and fall , kind of like its cofounder's erratic behavior. $1 million $1 million world's richest man world's richest man reversed course again reversed course again buy buy Twitter Twitter Tesla Tesla fall fall Musk was also in the news for reversing course on a Starlink-related announcement. The billionaire appeared to be wanting to discontinue Starlink in Ukraine unless the Pentagon paid his company SpaceX for the service, but then apparently had a change of heart and decided to continue providing it. Starlink is SpaceX's satellite internet service and has been crucial in keeping Ukraine’s military online during the war against Russia. reversing course reversing course Twitter was trending #60 this week, while Tesla was trending #91 on HackerNoon's Tech Company Rankings . Tech Company Rankings And that’s a wrap! Thanks for reading Tech Company News Brief Issue #20! See y’all next week. PEACE ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon — Sheharyar Khan, Editor, Business Tech @ HackerNoon

Musk 'Smells' an Opportunity

Musk 'huele' una oportunidad

Le musc "sent" une opportunité

कस्तूरी 'गंध' एक अवसर

ムスクの「におい」はチャンス

Almíscar 'cheira' uma oportunidade

Musk 'ngửi thấy' một cơ hội

马斯克“闻到”机会

QTUM’s team is testing a bridge to the Ethereum blockchain through a USDC incentivized community testnet program. The community program which kicked off on November 1st will run till November 14th at 10:00 AM ET. This phase will involve testing out two products, the QTUM-Ethereum bridge solution and a customized MetaMask Snap Wallet that’ll allow users and developers alike to have a more familiar experience when bridging their assets between the two chains. Qtum decided to implement an incentivized community testnet once they had completed internal testing. In this article, we will cover how to participate in the program and what you’ll need to get started. What Will I Need to Participate in the Testnet of Qtum bridge to Ethereum? You will be utilizing the Qtum Testnest and Ethereum Sepolia to bridge assets to and from two chains. To get started, you must first follow our social media handles and engage effectively with other community members. The other prerequisite is using the audited Qtum MetaMask Snap, which will also include a variety of testnet faucets. Each testnet participant will receive a daily task through the event’s official website. If you want to build up enough points and qualify for a higher percentage during the airdrop, we recommend completing every daily task. What is Qtum’s Bounty for Every Participant? Qtum Foundation will allocate 8,000 Qtum tokens to fund several short community test events. Each of these tokens will help the community better prepare for the mainnet deployment. The first phase will pay out 3000 Qtum tokens divided to all participants taking part in the event, and the phase will last for two weeks. This is the address from which the team will distribute the aidrop reward tokens: Qbridge3NmHwp9kvycSuHutKBSbJ5HX2SG To attract more users to the testnet event, Qtum has designed the initial phase of the event to be easier than the upcoming ones. This will also make it easy for participants who are new to crypto to enter the event. As such, you won’t require any coding experience or advanced blockchain knowledge to qualify. All you need is a robust browser that supports the MetaMask wallet extension. Testers Will Get Some Memecoins At the end of the initial phase, Qtum will distribute Qtum Mainnet QRC-20 memecoins through a community aidrop to reward the testers. The participants will keep these memecoins and use them in subsequent testnet events. It is worthwhile to note that these QRC-20 tokens will be distributed to the same wallet that will receive the main aidrop tokens. Therefore, ensure you hold on to your MetaMask Snap Wallet because it will come in handy later on. Reliability, Speed, Stability and Security The team intends to put alot of focus on attracting plenty of traffic to the testnet so that it can effectively monitor speed, security and stability. Moreover, the team will monitor Discord conversations to ensure all participants are getting a better user experience with the audited bridge’s interface and the wallet. Features of the Qtum Bridge Qtum’s bridge will comprise three primary components, a set of bridged USDC smart contracts, the Qtum MetaMask Snap Wallet and the actual bridge. The bridged USDC standard smart contracts will manage the process of burning and minting USDC when its being bridged across EVM-compatible blockchains. Thanks to Consensys, any blockchain that wants to run their own version of the MetaMask wallet can do so using the Snap template. Qtum has already got one, the MetaMask Snap which will be listed on the Consensys Snap Directory. To get started with the Qtum Bridge testnet, you’ll need to interface with the following sub components, Qtum testnet faucet, Circle testnet faucet and Sepolia ETH testnet faucet. Click here to get started: https://www.qtum.org/bridge-event QTUM’s team is testing a bridge to the Ethereum blockchain through a USDC incentivized community testnet program. The community program which kicked off on November 1st will run till November 14th at 10:00 AM ET. QTUM’s QTUM’s This phase will involve testing out two products, the QTUM-Ethereum bridge solution and a customized MetaMask Snap Wallet that’ll allow users and developers alike to have a more familiar experience when bridging their assets between the two chains. Qtum decided to implement an incentivized community testnet once they had completed internal testing. In this article, we will cover how to participate in the program and what you’ll need to get started. What Will I Need to Participate in the Testnet of Qtum bridge to Ethereum? You will be utilizing the Qtum Testnest and Ethereum Sepolia to bridge assets to and from two chains. To get started, you must first follow our social media handles and engage effectively with other community members. The other prerequisite is using the audited Qtum MetaMask Snap, which will also include a variety of testnet faucets. Each testnet participant will receive a daily task through the event’s official website. If you want to build up enough points and qualify for a higher percentage during the airdrop, we recommend completing every daily task. What is Qtum’s Bounty for Every Participant? Qtum Foundation will allocate 8,000 Qtum tokens to fund several short community test events. Each of these tokens will help the community better prepare for the mainnet deployment. The first phase will pay out 3000 Qtum tokens divided to all participants taking part in the event, and the phase will last for two weeks. This is the address from which the team will distribute the aidrop reward tokens: Qbridge3NmHwp9kvycSuHutKBSbJ5HX2SG Qbridge3NmHwp9kvycSuHutKBSbJ5HX2SG To attract more users to the testnet event, Qtum has designed the initial phase of the event to be easier than the upcoming ones. This will also make it easy for participants who are new to crypto to enter the event. As such, you won’t require any coding experience or advanced blockchain knowledge to qualify. All you need is a robust browser that supports the MetaMask wallet extension. Testers Will Get Some Memecoins At the end of the initial phase, Qtum will distribute Qtum Mainnet QRC-20 memecoins through a community aidrop to reward the testers. The participants will keep these memecoins and use them in subsequent testnet events. It is worthwhile to note that these QRC-20 tokens will be distributed to the same wallet that will receive the main aidrop tokens. Therefore, ensure you hold on to your MetaMask Snap Wallet because it will come in handy later on. Reliability, Speed, Stability and Security The team intends to put alot of focus on attracting plenty of traffic to the testnet so that it can effectively monitor speed, security and stability. Moreover, the team will monitor Discord conversations to ensure all participants are getting a better user experience with the audited bridge’s interface and the wallet. Features of the Qtum Bridge Qtum’s bridge will comprise three primary components, a set of bridged USDC smart contracts, the Qtum MetaMask Snap Wallet and the actual bridge. The bridged USDC standard smart contracts will manage the process of burning and minting USDC when its being bridged across EVM-compatible blockchains. Thanks to Consensys, any blockchain that wants to run their own version of the MetaMask wallet can do so using the Snap template. Qtum has already got one, the MetaMask Snap which will be listed on the Consensys Snap Directory. To get started with the Qtum Bridge testnet , you’ll need to interface with the following sub components, Qtum testnet faucet, Circle testnet faucet and Sepolia ETH testnet faucet. To get started with the Qtum Bridge testnet To get started with the Qtum Bridge testnet Click here to get started: https://www.qtum.org/bridge-event https://www.qtum.org/bridge-event https://www.qtum.org/bridge-event

Qtum Bridge is Live on Testnet with Incentive Campaign

Qtum Bridge ከማበረታቻ ዘመቻ ጋር በTestnet ላይ ቀጥታ ስርጭት ነው።

تم إطلاق Qtum Bridge على شبكة الاختبار مع حملة الحوافز

Qtum Bridge ukax Testnet ukan Live ukan Campaña de Incentivo ukamp uñt’ayatawa

Qtum Bridge Təşviq Kampaniyası ilə Testnet-də Canlı yayımlanır

Qtum Bridge ya está disponible en la red de pruebas con una campaña de incentivos

Qtum Bridge je uživo na Testnetu uz poticajnu kampanju

Qtum Bridge がインセンティブキャンペーン付きでテストネットに登場

Qtum Bridge е во живо на Тестнет со стимулативна кампања

Qtum Bridge este live pe Testnet cu campanie de stimulare

Qtum Bridge දිරිගැන්වීමේ ව්‍යාපාරය සමඟ Testnet මත සජීවී වේ

Qtum Bridge Teşvik Kampanyasıyla Testnet'te Yayında

Qtum Bridge đã có mặt trên Testnet với Chiến dịch khuyến khích

It is only a few days before the US Presidential Elections. Trump and his teammates have promised a more liberal approach towards crypto than Democrats. Also, the Republican candidate is leading on Polymarket and even in some polls like a potential winner. In this article, I’d like to describe possible upgrades in the US crypto regulation that Donald Trump may make. What exactly did Trump promise to the crypto community? While Kamala Harris only mentioned cryptocurrencies for the first time at the end of her campaign, Trump has been discussing them a lot this year. He held personal events and meetings dedicated to cryptocurrency, including his speech this July at the Bitcoin Conference in Nashville. During the event the Republican candidate promised that he would not allow the creation of CBDC, the digital dollar - so as not to restrict Americans' financial freedom. Also, Trump promised to create a strategic reserve of Bitcoin, he emphasized that the US Government under him will no longer sell Bitcoin and will hodl it. Moreover, he pointed out the creation of special task force for crypto policy of US - Bitcoin and crypto presidential advisory council. The Republican Party's program also has a paragraph dedicated to crypto - about protecting the rights of Americans to self-dispose of their own assets: “We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.” And it is still the biggest emphasis from Republicans is that they will not allow the creation of CBDC, the government's digital currency. This point is primarily important for libertarian voters and wealthy Americans. After all, CBDC by its properties implies even greater government control over currency than classic fiat currency. Bitcoin Bill During the Bitcoin Conference, where Trump lavished his promises to Bitcoiners, Republican Senator Cynthia Lumis also spoke. Let's talk more about this senator and its legal initiatives. Just before the conference, she introduced the Bitcoin Strategic Reserve Bill. The bill shortly determines that US government will save its current Bitcoin reserve and moreover it will purchase 1 million Bitcoin. The law requires the U.S. to purchase bitcoins for 5 years - at least 200,000 per year. And the total amount for this period - 1 million BTC. Also the creation of a transparent system of proof of reserve. The law also prohibits the sale of bitcoins already in the government's possession. If Trump is elected, he will certainly be in favor of the bill - but its passage depends on the position of Congress and the Senate. If the Republicans have a majority there, there is little doubt about it. On the other hand, Democrats may at least modify some provisions of the bill or even advocate its rejection as populist and risky for public finances. However, there are also Democrats who support this bill, such as Democratic Representative Ro Khanna. What really matters for the future of crypto in US? However, Trump's promises to stop CBDC and make Bitcoin reserve are just the tip of the iceberg in regulating cryptocurrencies in the US. What matters to crypto businesses and regular users is the regulation of cryptocurrencies in the country as a whole - rights of crypto users and opportunities for investors, licensing requirements for legal entities, as well as taxation of crypto gains. Let's take a look at how a possible Trump presidency could affect this. In fact, there are at least two more important pieces of legislation than Bitcoin bill to discuss here: 💡Financial Innovation and Technology for the 21st Century Act 💸Payment Stablecoin Act The basic part of new US legislation dedicated to cryptocurrency, which is likely to be approved after the Elections, is “FIT21”—The Financial Innovation Act in 21 Century. This is a long document, that already was approved by the US Congress and had bipartisan support—almost all Republicans and half of Democrats. However, the law was postponed by the US Senate for a period after the Presidential Elections. The future of this law really depends on the position of the future president of the United States and the results of the elections. The most important thing is that this law will make crypto regulation in the U.S. more certain - now there are several regulators in the country, each of which has its own position on crypto: SEC, CFTC, FINCEN, IRS and some others. Many lawmakers believe that the SEC abuses its powers and restrains the development of crypto-business in the United States. Two SEC commissioners (Hester Pierce and Mark Uyeda) also speak a lot about it. The FIT21 law is essential to make the legal landscape on crypto more defined and transparent. Since Cyntia Lummis supported Trump's Bitcoin Reserve initiative and she also worked on the Financial Innovation Act, along with Congressman Patrick McHenry, there is little doubt that this legislation will be supported by the Republicans after the election and Trump, being an elected President, can support final approval of FIT21 in the Senate. What about Stablecoin Act? This law proposed by the same Cynthia Lummis and Kirsten Gillibrand (democrat) create a transparent framework for stablecoin regulation in the US, since now there is no clear regulation. Larger stablecoin issuers will be registered by the Comptroller of the Currency (OCC). The law prohibits algorithmic stablecoins and requires 1-to-1 provisioning. It also gives the Fed authority to control it. Small stablecoin issuers will be licenzed on the state level. The future of this law if Trump wins is more difficult to predict - that's why it has not been put to a vote in Congress. In addition, there is no official position on it from Tether, Circle and Coinbase. Nevertheless, given that the law has support of Republicans (Patrick McHenry, Maxine Waters, Cynthia Lummis) and also Democrats (Kirsten Gillibrand) - and its requirements for issuers can be called compromise, it may also be adopted after the presidential election. Unless, of course, the new administration declares a different stance towards stablecoin. From my point of view it is in the interest of the US to make dollar pegged stablecoins available to users worldwide. In this regard, unfortunately, the position of Janet Yellen looks very strange, who stated the danger of investments from issuers of stablecoins to US T-bills. You can see that in the European Union local stablecoin market is developing slow - it has over regulation because of some MiCA requirements - which is too tough for EUR backed stablecoins. I hope that the new US president and lawmakers will make more flexible regulations for stablecoins. Why republicans (and democrats) care about crypto so much? By the way, let's look at this election from a different perspective - politicians are not only interested in innovation. Another possible reason why both Republicans and Democrats support the crypto industry so strong is because of large campaign donations from it. According to Public Citizen in 2024 crypto companies have spent $119 mln to the federal elections. This is 44% from total corporate spending. Most of the funding goes through a special crypto industry PAC, the Fairshake PAC. It’s founded by Coinbase ($50 mln), Ripple ($49 mln), Jump Crypto ($15 mln), Andersen Horovitz ($1,75 mln), Payward, Circle, Paradigm and some other donors. By the way, this structure finances not only Republican candidates, but also some Democrats. According to Public Citizen, its task is also to prevent the election of those who have a bad attitude towards cryptocurrencies. This May Donald Trump campaign started to accept donations in crypto and it got about $7,5 mln according to CNBC. According to Washington Post crypto entrepreneur David Bailey has promised to Trump $15 mln of donations before his visit to Nashvielle. Also Donald Trump got donations from Gemini founders - Tyler and Cameron Winklevoss - $1 million in Bitcoin each. However, Harris and other Democrats are also getting support from some cryptocurrency entrepreneurs - like Chris Larsen (Ripple) and Tim Drapper. Of course the money factor plays a big role, but we can't ignore the other thing - the real mistakes of the outgoing Biden administration (and Gary Gensler) in relation to cryptocurrency regulation. FIT21 law, which got bipartisan support of Congress was never passed. Without normal regulation of cryptocurrencies, the U.S. simply gives its position on the cryptomarket to other countries. Conclusion The need to pass new crypto billsis long overdue and lawmakers realize it, its main opponent - Gary Gensler is likely to resign from his post even if Harris wins the election. However, now Republicans and Trump have a more definite position on this issue - as a party traditionally more loyal to business and investors. The approval of the Bitcoin Strategic Reserve Act will be big and important news for the cryptocurrency investment market and will definitely be one of the actions of the new Trump administration. However, for ordinary Americans, it is equally important that the FIT21 Act and Stablecoin Act will finally pass. Since many Democrats already supported it also has potential to be approved. Whatever the result of the presidential election, the passage of laws depends on the election of the House of Representatives and the Senate too. If you are interested in getting more crypto insights, you can watch the global crypto regulation rating here and get updates on my X account. It is only a few days before the US Presidential Elections. Trump and his teammates have promised a more liberal approach towards crypto than Democrats. Also, the Republican candidate is leading on Polymarket and even in some polls like a potential winner. In this article, I’d like to describe possible upgrades in the US crypto regulation that Donald Trump may make. What exactly did Trump promise to the crypto community? What exactly did Trump promise to the crypto community? While Kamala Harris only mentioned cryptocurrencies for the first time at the end of her campaign, Trump has been discussing them a lot this year. He held personal events and meetings dedicated to cryptocurrency, including his speech this July at the Bitcoin Conference in Nashville. speech During the event the Republican candidate promised that he would not allow the creation of CBDC, the digital dollar - so as not to restrict Americans' financial freedom. Also, Trump promised to create a strategic reserve of Bitcoin, he emphasized that the US Government under him will no longer sell Bitcoin and will hodl it. Moreover, he pointed out the creation of special task force for crypto policy of US - Bitcoin and crypto presidential advisory council. The Republican Party's program also has a paragraph dedicated to crypto - about protecting the rights of Americans to self-dispose of their own assets: “We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.” paragraph And it is still the biggest emphasis from Republicans is that they will not allow the creation of CBDC, the government's digital currency. This point is primarily important for libertarian voters and wealthy Americans. After all, CBDC by its properties implies even greater government control over currency than classic fiat currency. Bitcoin Bill Bitcoin Bill During the Bitcoin Conference, where Trump lavished his promises to Bitcoiners, Republican Senator Cynthia Lumis also spoke. Let's talk more about this senator and its legal initiatives. Just before the conference, she introduced the Bitcoin Strategic Reserve Bill . Bitcoin Strategic Reserve Bill The bill shortly determines that US government will save its current Bitcoin reserve and moreover it will purchase 1 million Bitcoin. The law requires the U.S. to purchase bitcoins for 5 years - at least 200,000 per year. And the total amount for this period - 1 million BTC. Also the creation of a transparent system of proof of reserve. The law also prohibits the sale of bitcoins already in the government's possession. If Trump is elected, he will certainly be in favor of the bill - but its passage depends on the position of Congress and the Senate. If the Republicans have a majority there, there is little doubt about it. On the other hand, Democrats may at least modify some provisions of the bill or even advocate its rejection as populist and risky for public finances. However, there are also Democrats who support this bill, such as Democratic Representative Ro Khanna. What really matters for the future of crypto in US? What really matters for the future of crypto in US? However, Trump's promises to stop CBDC and make Bitcoin reserve are just the tip of the iceberg in regulating cryptocurrencies in the US. What matters to crypto businesses and regular users is the regulation of cryptocurrencies in the country as a whole - rights of crypto users and opportunities for investors, licensing requirements for legal entities, as well as taxation of crypto gains. Let's take a look at how a possible Trump presidency could affect this. In fact, there are at least two more important pieces of legislation than Bitcoin bill to discuss here: 💡 Financial Innovation and Technology for the 21st Century Act Financial Innovation and Technology for the 21st Century Act 💸 Payment Stablecoin Act Payment Stablecoin Act The basic part of new US legislation dedicated to cryptocurrency, which is likely to be approved after the Elections, is “FIT21”—The Financial Innovation Act in 21 Century. This is a long document, that already was approved by the US Congress and had bipartisan support—almost all Republicans and half of Democrats. However, the law was postponed by the US Senate for a period after the Presidential Elections. The future of this law really depends on the position of the future president of the United States and the results of the elections. The most important thing is that this law will make crypto regulation in the U.S. more certain - now there are several regulators in the country, each of which has its own position on crypto: SEC, CFTC, FINCEN, IRS and some others. Many lawmakers believe that the SEC abuses its powers and restrains the development of crypto-business in the United States. Two SEC commissioners (Hester Pierce and Mark Uyeda) also speak a lot about it. The FIT21 law is essential to make the legal landscape on crypto more defined and transparent. Since Cyntia Lummis supported Trump's Bitcoin Reserve initiative and she also worked on the Financial Innovation Act, along with Congressman Patrick McHenry, there is little doubt that this legislation will be supported by the Republicans after the election and Trump, being an elected President, can support final approval of FIT21 in the Senate. What about Stablecoin Act? What about Stablecoin Act? This law proposed by the same Cynthia Lummis and Kirsten Gillibrand (democrat) create a transparent framework for stablecoin regulation in the US, since now there is no clear regulation. Larger stablecoin issuers will be registered by the Comptroller of the Currency (OCC). The law prohibits algorithmic stablecoins and requires 1-to-1 provisioning. It also gives the Fed authority to control it. Small stablecoin issuers will be licenzed on the state level. The future of this law if Trump wins is more difficult to predict - that's why it has not been put to a vote in Congress. In addition, there is no official position on it from Tether, Circle and Coinbase. Nevertheless, given that the law has support of Republicans (Patrick McHenry, Maxine Waters, Cynthia Lummis) and also Democrats (Kirsten Gillibrand) - and its requirements for issuers can be called compromise, it may also be adopted after the presidential election. Unless, of course, the new administration declares a different stance towards stablecoin. From my point of view it is in the interest of the US to make dollar pegged stablecoins available to users worldwide. In this regard, unfortunately, the position of Janet Yellen looks very strange, who stated the danger of investments from issuers of stablecoins to US T-bills. You can see that in the European Union local stablecoin market is developing slow - it has over regulation because of some MiCA requirements - which is too tough for EUR backed stablecoins. I hope that the new US president and lawmakers will make more flexible regulations for stablecoins. Why republicans (and democrats) care about crypto so much? Why republicans (and democrats) care about crypto so much? By the way, let's look at this election from a different perspective - politicians are not only interested in innovation. Another possible reason why both Republicans and Democrats support the crypto industry so strong is because of large campaign donations from it. According to Public Citizen in 2024 crypto companies have spent $119 mln to the federal elections. This is 44% from total corporate spending. Most of the funding goes through a special crypto industry PAC, the Fairshake PAC. It’s founded by Coinbase ($50 mln), Ripple ($49 mln), Jump Crypto ($15 mln), Andersen Horovitz ($1,75 mln), Payward, Circle, Paradigm and some other donors. Public Citizen By the way, this structure finances not only Republican candidates, but also some Democrats. According to Public Citizen, its task is also to prevent the election of those who have a bad attitude towards cryptocurrencies. This May Donald Trump campaign started to accept donations in crypto and it got about $7,5 mln according to CNBC . According to Washington Post crypto entrepreneur David Bailey has promised to Trump $15 mln of donations before his visit to Nashvielle. Also Donald Trump got donations from Gemini founders - Tyler and Cameron Winklevoss - $1 million in Bitcoin each. However, Harris and other Democrats are also getting support from some cryptocurrency entrepreneurs - like Chris Larsen (Ripple) and Tim Drapper. CNBC Washington Post donations Of course the money factor plays a big role, but we can't ignore the other thing - the real mistakes of the outgoing Biden administration (and Gary Gensler) in relation to cryptocurrency regulation. FIT21 law, which got bipartisan support of Congress was never passed. Without normal regulation of cryptocurrencies, the U.S. simply gives its position on the cryptomarket to other countries. Conclusion Conclusion The need to pass new crypto billsis long overdue and lawmakers realize it, its main opponent - Gary Gensler is likely to resign from his post even if Harris wins the election. However, now Republicans and Trump have a more definite position on this issue - as a party traditionally more loyal to business and investors. The approval of the Bitcoin Strategic Reserve Act will be big and important news for the cryptocurrency investment market and will definitely be one of the actions of the new Trump administration. However, for ordinary Americans, it is equally important that the FIT21 Act and Stablecoin Act will finally pass. Since many Democrats already supported it also has potential to be approved. Whatever the result of the presidential election, the passage of laws depends on the election of the House of Representatives and the Senate too. If you are interested in getting more crypto insights, you can watch the global crypto regulation rating here and get updates on my X account . here X account

What Can Trump Change in US Crypto Regulation?

Што Трамп можа змяніць у крыптарэгуляванні ЗША?

Co může Trump změnit v regulaci kryptoměn v USA?

¿Qué puede cambiar Trump en la regulación de las criptomonedas en EE.UU.?

Que pode cambiar Trump na regulación criptográfica dos EUA?

Što Trump može promijeniti u američkoj kripto regulativi?

Ի՞նչ կարող է Թրամփը փոխել ԱՄՆ-ի կրիպտո կարգավորման մեջ:

Apa yang Dapat Diubah Trump dalam Regulasi Kripto AS?

トランプ大統領は米国の暗号通貨規制に何を変えることができるか?

트럼프 대통령은 미국의 암호화폐 규제에 어떤 변화를 가져올 수 있을까?

Stories, News & Mentions about ALCIRCLE

Alcircle’s Stories on HackerNoon