Trump's Crypto Kingdom: From Meme Coins to Capital of the World!

Another Bloody Election Already?

By Odin's beard another election already? It seems like just yesterday I was raiding Lindisfarne and now you tell me there's been 100 days of Trump's second reign? Apparently his approval is lower than a snake's belly but the crypto folk seem to be singing a different tune. He promised them America would be the 'crypto capital,' and they think he's delivering. Like a Valkyrie carrying a fallen warrior he has swooped in with 'executive actions' and 'strategic appointments'. Looks like a great saga to me.

The Allfather of Crypto!

This Nic Carter fellow from Castle Island Ventures seems quite pleased saying every appointment is 'happy from a crypto perspective.' He claims the old financial gods were against crypto but now it's all changed. Bah! It sounds like a tale of changing tides and shifting alliances much like when Rollo betrayed me for Frankia! Someone is going to end up with an axe in the back.

Dragon's Hoard or Fool's Gold?

Trump talked of a 'strategic crypto reserve,' including things like ether XRP and whatnot. Some fools cried it was a waste of tax money on 'risky assets.' So he focused on Bitcoin only and said he wouldn't use the people's silver. He even launched a meme coin adding to his own hoard! Carter again complains that Trump's family is involved in crypto and that the optics are not favorable. I say what does it matter? If it can fill our longboats with loot who cares how it's done? "I don't believe in Gods," I said once "I believe in the power of myself!" I see Trump believes this too! Although maybe a good death is not all that matters.

Banking With the Gods

Jonathan Gould at the Office of the Comptroller of the Currency wants to give new bank charters to crypto firms. During Biden's time this was 'unthinkable.' Carter again thinks we will see many new crypto firms getting bank charters. Travis Hill at the Federal Deposit Insurance Corporation is also making moves exposing what they call 'Choke Point 2.0,' where regulators pressured banks to cut ties with crypto. This sounds like a political game of Hnefatafl to me.

SEC: From Serpent's Nest to Roundtable

Now this is interesting. Paul Atkins is the new chair of the SEC a stark contrast to the old hardliner Gary Gensler. Apparently Atkins is working with crypto stakeholders to figure out token rules and the line between securities and commodities. "This is the clarity we've been asking for," says Carter. Atkins even held a crypto roundtable. Veronica McGregor of Exodus called it a '180 pivot.' It seems some coin has been strategically placed. What is coin in this situation but a simple bribe to keep the peace!

The Fed: A Stubborn Ice Giant

Brian Quintenz is to lead the Commodity Futures Trading Commission but Carter warns that the Federal Reserve is a 'structural holdout.' Banks can hold crypto but can't work directly with crypto firms until the Fed allows it. It seems the Fed is the last defender of the old ways. Still the industry has mostly gotten what it wants. Coinbase CEO Brian Armstrong donated big in the last election. All this makes me want to get out my longboat and raid the countryside and come back to Kattegat with loot and fame. Alas I'm just writing this article! As I always say "Life is all about choices."