The Daily Unchained Web #198

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Vitalik Buterin Criticizes Politician-Issued Cryptocurrencies

Ethereum co-founder Vitalik Buterin warned that politician-issued cryptocurrencies could become tools for political bribery, citing their ability to increase issuers' holdings without direct payments. His comments come after President Trump and First Lady Melania launched meme coins that drew billions in investment. Critics, including Senator Elizabeth Warren, have called for an investigation into these tokens over concerns of conflicts of interest and national security risks. For more, click here.

ZachXBT rug pull drama reveals extent of unpaid detective work

Renowned crypto sleuth ZachXBT, known for exposing scams, faced accusations of orchestrating a rug pull after removing liquidity from a memecoin on Jan. 21. The coin, created anonymously in his name, was sold off, raising $4.3M. Critics speculated about his involvement in the token's creation, which ZachXBT denied. Despite controversies, he remains active, warning users about new scams and emphasizing his commitment to fighting fraud. For more, click here.

Crypto czar David Sacks likens Trump’s memecoin to a ‘baseball card’

David Sacks, the White House’s crypto and AI czar, likened President Trump’s controversial memecoin to collectibles like baseball cards. Sacks attributed confusion surrounding the token to poor regulatory guidance from the previous administration. Meanwhile, the TRUMP coin's market cap briefly hit $12 billion before falling significantly. Critics argue the coin represents a conflict of interest for the administration. For more, click here.

Trump signs executive order for crypto working group, prohibiting CBDC

President Donald Trump signed an executive order establishing a working group to make the US a global crypto leader while banning the creation of a US central bank digital currency (CBDC). The directive revokes a 2022 executive order from the Biden administration, emphasizing stablecoin regulations and a potential national crypto stockpile. The move aligns with Trump’s pro-crypto campaign promises. For more, click here.

Crypto Venture Capital Funding to Rise This Year, Won't Hit Previous Highs: JPMorgan

JPMorgan projects a recovery in crypto venture capital funding as regulatory clarity improves under Trump’s administration and Europe’s MiCA regulations take effect. However, funding levels are unlikely to match 2021–2022 peaks due to competition from traditional finance and the rise of community-driven platforms. High interest rates and the growth of passive investing also pose challenges. For more, click here.

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