Elizabeth Warren slams the GOP’s GENIUS Act as a blatant power grab to unleash Trump-style corruption in crypto and tech. This bill is a corrupt gift to insiders and grifters. Fight back—don’t let the swamp deepen. #GENIUSAct #CryptoCorruption #NoMoreTrumpCronies www.rollingstone.com/politics/pol...
Liz Warren Says Crypto Bill Cr...
#GeniusAct
Trump's #stablecoin #USD1 has been issued on Justin Sun's Tron blockchain, AKA "the global organized crime blockchain where ~$70 billion worth of Tether lives”.
All of these factors put together amount to literally a license for Donald Trump to run his own Federal Reserve, printing unbacked dollar equivalents whenever he wants.
What could go wrong?
https://x.com/SilvermanJacob/status/1933284401540182648
#JustinSun #Tron #stablecoins #GeniusAct #crime #corruption #uspol #uspolitics #Trump #FederalReserve #finance #SteveWitkoff #ZachWitkoff #WorldLibertyFinancial #WLFI #Kleptocracy
"I think stopping Trump’s #corruption & assault on democracy should be our number one priority. We shouldn’t pass a bill regulating #crypto that allows Trump's use of meme/stable coin to enrich himself & corrupt our foreign policy."
-Sen Murphy
"The GOP slipped a last-min carveout for crypto wallets into the #GENIUSAct—& now the Trump fam is planning to launch one.
I’ll introduce an amdt to close this loophole, but this bill shouldn’t pass w/o serious anti-corruption fixes."
-Sen Warren
#USPol
What actually sucks about the GENIUS Act: stablecoin holders get first dibs if the stablecoin issuer defaults.
Who can be issuers?
Federally insured banks and subsidiaries.
If these banks commingle deposits with reserves, then this will force banks to dip into deposits, if reserve alone fails to cover claims.
Good thing is, the FDIC will ensure up to $250K of deposits, but what this means is that the FDIC is effectively subsidizing bad decisions from banks.
This is the *only* argument against the act that I actually find is what we should absolutely find concerning.
However, I find that the majority of regressive leftist fedidiots and fedimbiciles who can't read are making all sorts of other arguments against the act, none of which should be taken seriously. Unfortunately, them repeatedly making these dumb arguments weaken the cause of highlighting how bad the proposed law is
#GENIUSAct #GENIUSAct2025 #GENIUSActOf2025 #USPoli #Fediverse #Crypto #CryptoCurrency #CryptoCurrencies #Stablecoins #Blockchain
Some arguments that I've heard against the US GENIUS Act of 2025, and my commentary:
- "It's not strict enough". Could be a fair argument; there are stuff that I wished it was within its scope
- "It makes Donald Trump rich". Then come up with another law *on top* of the GENIUS Act
- "It could facilitate money laundering". With that argument, ban cash as well
- "Elizabeth Warren is against it". Do you not have any original thoughts?
- "it's a carve out". And? What's your point?
- "SEC/CFTC is more strict; we didn't need another law". SEC/CFTC doesn't enforce who gets dibs in the event of insolvency. And it also doesn't strictly spell out 1:1 reserve requirements
- "it was promoted by the Republicans". So what?
- "crypto is bad for the environment." Bitcoin yes, but stablecoins on Ethereum and Solana: no
- "crypto sucks!". At this point, this is just an opinion, and I'll just "agree to disagree"
#Crypto #Cryptocurrency #Blockchain #Stablecoins #GeniusAct #GeniusAct2025 #GeniusActOf2025
nel #sistemafinanziario europeo.
[....] Nel frattempo, il #Congresso degli #StatiUniti sta lavorando per legittimare questi dollari digitali ai sensi del #GENIUSAct e dello #STABLEAct. Questi progetti di legge non introducono adeguate garanzie, dando prioritĂ agli interessi del settore rispetto alla stabilitĂ finanziaria. [.....] 3/n
The US Stablecoin Bill (GENIUS Act) is expected to pass Congress with bipartisan support, potentially making stablecoin issuers major buyers of US Treasuries and reinforcing the dollar’s dominance, while South Korean firms warn of regulatory disadvantages due to domestic policy gaps.
#YonhapInfomax #Stablecoin #GeniusAct #USTreasuries #Tether #USDcoin #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=64859
great explanation of what the Trump family is really doing with their new #stablecoin #USD1:
> "Imagine a banking system stripped of all current safeguards and requirements. Now imagine it's controlled by people who run commercial businesses profiting from your spending. That is what the GENIUS Act is paving the way for. It poses significant risks to the economy, the consumer, and national security."
https://thesillyserious.substack.com/p/goodbye-usd-hello-usd1
#stablecoins #Trump #uspol #banking #Banks #uspolitics #crypto #Binance #Tether #USDC #crypto #GENIUSAct
New York Times op-ed on the new #stablecoin law (the "GENIUS Act") by Dan Davies, the author of probably the best book about financial fraud you'll ever read ("Lying For Money"), hits a lot of the right notes.
> "Stablecoins were supposed to leverage dollars to stabilize the chaotic universe of crypto. Instead, they seem set to infect the dollar-dominated financial system with the unique combined chaos of crypto and Mr. Trump."
* NYT: https://www.nytimes.com/2025/05/23/opinion/trump-crypto-stablecoin.html
* no paywall: https://archive.ph/uiVIq
#crypto #uspol #uspolitics #USD1 #GeniusAct #Trump #DanDavies
https://www.fogolf.com/969083/trump-hosts-memecoin-dinner-mixing-presidency-with-crypto-interests/ Trump hosts memecoin dinner, mixing presidency with crypto interests #binance #BITCOIN #ChineseBornCryptoEntrepreneurJustinSun #Crypto #DemocraticOpponents #Donald #DonaldTrump #DonaldTrumpGolf #DonaldTrumpGolfing #EndCitizensUnited #GENIUSAct #IncaDigital #SenatorElizabethWarren #StrategicBitcoinReserve #tron #trump #TrumpGolf #TrumpGolfing #TruthSocial #USSenate #WhiteHouse
Elizabeth Warren: “Donald Trump's meme coin dinner is an orgy of corruption.”
Private access. Anonymous wallets. $2B from UAE-linked firms.
Crypto grift has reached the White House.
#ElizabethWarren #ChrisMurphy #CryptoCorruption #MemeCoin #TrumpDinner #Stablecoin #AbuDhabi #UAE #PayToPlay #GeniusAct #USPolitics #NationalSecurity #JustinSun #DavidSacks
A new U.S. bill might finally bring clear rules to stablecoins!🪙
The GENIUS Act sets out who can issue them, what licenses are required, and which agencies will oversee the market. We explain everything you need to know here: https://auriccrypto.com/stable/what-the-genius-act-means-for-stablecoin-regulation/
People be like "the new GENIUS Act deregulates cryptocurrencies".
Then why did Rand Paul repeatedly vote against the law, citing concerns around overregulation?
#Cryptocurrency #Cryptocurrencies #Web3 #Stablecoins #Blockchain #Blockchains #DeFi #USPoli #US #GENIUSActOf2025 #GENIUSAct #GENIUSAct2025
EUROSCOPE : STABLECOINS — QUAND WASHINGTON HÉSITE, LE DOLLAR TREMBLE
Deux lois rivales, un jeton sulfureux, et l’ombre de Trump : le Congrès joue à quitte ou double avec la stabilité monétaire numérique. L’Europe observe.
👉 https://whatsapp.com/channel/0029VaE5Wl8Dp2Q7vJyg0G30
#EuroScope #Stablecoins #GeniusAct #StableAct #CryptoPolitics #DollarNumérique
AAVE hits $260 after an 80% surge - but is the rally losing steam?
RSI, MFI, and Bollinger Bands suggest overbought conditions, and volatility is rising - yet other signals remain bullish. We break down the signals here: https://auriccrypto.com/analysis/technicalanalysis/aave-at-260-has-the-bull-run-gone-too-far/
Good day, crypto enthusiasts! 🚀 The US Senate is advancing the GENIUS Act to regulate stablecoins, despite concerns over potential conflicts of interest. This could significantly shape the future of the $250B stablecoin market! #Stablecoins #CryptoRegulation #GENIUSAct
In a compelling development, U.S. Senate Majority Leader John Thune (R-SD) announced bipartisan support for the GENIUS Act, aimed at regulating stablecoins. Key Democrats, including Kirsten Gillibrand (D-N.Y.), back the bill, yet critics, like Sen. Elizabeth Warren (D-Mass.), warn it could enable corruption tied to Trump’s crypto ventures. Despite proposed consumer safeguards, concerns linger over ethical responsibilities in political actions. Read more about this crucial debate: https://www.alternet.org/crypto-bill/ #Stablecoins #CryptoRegulation #GENIUSAct #ElizabethWarren #CryptoCorruption #PoliticalEthics #BigTech #FinancialRegulation
Praising the author for the thorough overview of this significant topic.
I apologize for getting political for a second but #SenatorCoryBooker, a man I admire and have met, has let us down. He has supported Charles Kushner, a felon, for ambassador due to a preexisting relationship ($$$) which just seems like blatant corruption to me. He also supported the #geniusact which makes me sad. Do better Cory. New Jerseyans deserve better.
Can someone explain to me (a Canadian, who barely visits the states) what is wrong with S.394 - GENIUS Act of 2025 that has passed the motion to invoke cloture in the US House of Senate?
A lot of people on the #Fediverse seem to be upset by it.
#Cryptocurrencies #Cryptocurrency #Blockchains #Stablecoins #DeFi #Web3 #USSenate #Democrats #Republicans #USPolitics #USPoli #Politics #USA #Crypto #GENIUSAct #GENIUSActOf2025 #GENIUSAct2025
3/ ...annnddddd the stablecoin bill passed cloture, meaning it will be passed into law and Trump will sign it right as he's launching his own incredibly profitable stablecoin #USD1, which gulf states already pledged to use to do something like $2 billion worth of deals out of the gate.
@ddayen.bsky.social's prediction, that the #Democrats would offer some weak sauce "OK but Trump can't make a stablecoin" separate bill that had 0% chance of passing into law so they could look like they weren't just caving, was 100% correct:
#uspol #stablecoin #stablecoins #uspolitics #senate #congress #DNC #GENIUSAct
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