My source told me: “The crypto community is almost liberal and politically unpolitical.” But as the Biden administration grows under the Biden administration, more regulation of law enforcement is: The Securities and Exchange Commission (SEC) filed at least 83 crypto-related enforcement measures, filed lawsuits against companies such as Coinbase and Kraken, whose products should be regulated like securities and believe their donors are considered “pre-determined.” (The lawsuits were dismissed a few months after the second Trump administration.)
But both Trump World and Equation Blockchain sources told me that cryptocurrency donors became impatient with their return on investment from campaigns, which had a ROI of less than $250 million, when cryptocurrencies and related PACs and super PACs and super PACs and super PACs and super PACs and super PACs and super PACs, when everyone said and finished. Getting their favorite parts in the Genius Act and the Clarity Act, including the more favorable regulations they consider under the Commodity Futures Trading Commission rather than the SEC, is an opportunity to cash out.
This is where Coinbase and A16Z are involved. Both firms have key connections in Trump’s orbit—most notably, respectively, Chris LaCivita, the former 2024 Trump co-campaign manager, works on the global advice council for Coinbase, while a16z is cofounded by Marc Andreessen, the Silicon Valley billionaire and cocreator of the modern web browser, who wilds influence primarily through Vice President JD Vance. Two sources familiar with the litigation process said these power players wanted to effectively merge the Stablecoin bill with more ambitious and broader clarity.
Another Republican in Trump World told me that Coinbase had particularly wrinkled feathers at the House GOP conference. “It’s one of them, if you’re going to throw your weight away… at the end of the day, they’ve wasted two weeks of legislative calendar that can slow down everything.”
Another incredible point, senior administration officials and Republican agents told me, is that Coinbase and Democrats looked too bad after leading former Obama and Harris strategist David Plouffe, who joined the group’s global advisory committee in addition to Lacivita and others.
While many industries depend on maintaining relationships with lawmakers on both sides, the Trump world is increasingly alert to any awareness of friendship between crypto people and the Democratic Party, Plov is the most prominent example.
“if [Democrats] “Pick up the power again, you don’t feel bad, all your bets are wasted,” said senior government source.
The message of the Trump world toward the cryptocurrency community that moves to the next stage of legislation is simple: work by our rules, or good luck, get anything from the possible future democratically controlled Congress and the White House.
“These guys just need to understand that if they stick with it, they have a great chance of success – fighting us is almost guaranteed to fail.”
“They shouldn’t play the role of both sides except to get a minimum Democratic vote on legislation… they should wake up.”
Beneath all quarrels is the essence of legislation, and even if the legislation gambit is successful, it may eventually backfire. “It’s to be careful what you want,” said James Angel, a finance professor at Georgetown University. “The problem with “Clarity Behavior” is that it really gives us a lot of clarity.” According to Angel, it’s not clear what the end of the CFTC power is, and the SEC’s starts with the proposed law.
Evangelionists wouldn’t be surprised either way, he said, if the CFTC eventually broke the cryptocurrency as well.
As for the rough and huge disaster of getting legislation through Congress, senior government sources said it was a welcome moment for the crypto community.
“Welcome to Congress,” the official said. “You’re just one of many people who are chewed and spit out.”
This is a version Jake Lahut Internal circulation newsletter. Read previous newsletters here.
