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Bitcoin will be mined, minted, made in US, Trump woos crypto community

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By Francesca Hangeior.

 

Donald Trump, once a cryptocurrency sceptic, has vowed to be a “pro-bitcoin president” if elected in November.

The Republican nominee is seeking support from an industry frustrated by US regulations.

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“The Biden-Harris administration’s repression of crypto and bitcoin is wrong, and it’s very bad for our country,” Trump said to cheers at a conference in Tennessee.

The ex-president likened cryptocurrencies to the growth of the “steel industry of 100 years ago”, and said, “Bitcoin stands for freedom, sovereignty and independence from government coercion and control.”

Trump said if he was in the White House, he would not allow the US government to sell its bitcoin holdings.

“This will serve in effect as the core of the strategic national bitcoin stockpile,” Trump said.

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The proposal was more limited than one offered the day before by longshot third-party candidate Robert F. Kennedy Jr., who said he would seek to build a stockpile of 4 million bitcoins.

“If we don’t embrace crypto and bitcoin technology, China will, other countries will, they’ll dominate, and we cannot let China dominate,” Trump said Saturday.

“If crypto is going to define the future, I want it to be mined, minted and made in the USA.”

Acknowledging the price of electricity as a key factor in where cryptocurrency mining operations are located, Trump vowed to make US energy the cheapest “of any nation on Earth” by increasing fossil fuel production and nuclear energy.

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“We’ll be doing it in an environmentally friendly way, but we will be creating so much electricity that you’ll be saying, ‘please, please, Mr President, we don’t want any more electricity.’”

He said on his first day in office, he would fire Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), a frequent target of cryptocurrency industry outrage over his cautiously slow approach to implementing regulations.

The crowd roared with approval at the proposal, prompting Trump to joke: “I didn’t know he was that unpopular.”

“Let me say it again. On day one, I will fire Gary Gensler!” he said, with the crowd erupting again.

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He also targeted Vice President Kamala Harris, who is set to replace Biden atop the Democratic ticket following the 81-year-old president’s shock exit from the campaign.

“We have to fight and we have to win, and I pledge to the bitcoin community that the day I take the oath of office, Joe Biden, Kamala Harris’s anti-crypto crusade will be over, it will end, it’ll be done,” Trump told the crowd.

“You’re going to be very happy with me.”

The 100-day sprint to the US election began Sunday, the final act of a campaign transformed by an assassination attempt and the stunning exit of President Joe Biden.

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After weeks of infighting and despondency over Biden’s candidacy, Democrats have consolidated behind Vice President Kamala Harris, radically reshaping the race to November 5 which was fast becoming Republican nominee Donald Trump’s to lose.

Harris’s candidacy has clearly reinvigorated her party’s campaign, which said Sunday it had raised $200 million – mostly from first-time donors – since Biden dropped out and endorsed his vice president a week ago.

A new Wall Street Journal poll showed Harris had closed Biden’s six-point deficit with Trump to just two points – well within the margin of error – with boosted support from Black, Latino and young voters.

But Republican pollster David Lee, who conducted the Journal survey, cautioned Democrats not to get carried away by the race tightening.

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“Donald Trump is in a far better position in this election when compared to a similar time in the 2020 election,” Lee said.

If the race is at a dead heat nationally, the advantage still lies with Trump given the mathematics of the Electoral College system for electing the president.

Trump’s 2016 victory over Hillary Clinton came despite losing the nationwide popular vote by nearly three million ballots.

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Fresh Israeli Airstrikes In Gaza Kill 25 Palestinians Including Children

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Fresh Israeli airstrikes in the Gaza Strip have killed at least 25 Palestinians, according to medics.

The casualties on Friday included at least eight people in an apartment in the Nuseirat refugee camp and 10 others in the town of Jabalia, among them seven children.

Efforts to broker a ceasefire between Israel and Hamas have yet to succeed.

Sources involved in the negotiations told Reuters on Thursday that Qatar and Egypt had resolved some points of contention but key issues remain unresolved.

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Israel launched its assault on Gaza following Hamas-led attacks on Israeli communities on October 7, 2023.

The attacks resulted in the deaths of 1200 people and the abduction of over 250 hostages, according to Israeli reports.

Israel states that approximately 100 hostages are still being held, though it is unclear how many remain alive.

Gaza authorities report that Israel’s ongoing campaign has killed more than 45,000 Palestinians and displaced the majority of the 2.3 million residents.

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Much of the territory has reportedly been devastated by the conflict.

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Biden signs bipartisan funding bill to keep government open

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President Biden signed the stopgap funding bill that will keep the government open until March, punting the thornier issues surrounding the nation’s finances to the incoming administration of President-elect Donald Trump.

A bloated 1,500-page funding measure was exploded by Trump and his top ally Elon Musk earlier this week as they demanded a pared-down version.

The parties were able to cobble a stopgap bill together Friday evening, which passed the Senate early Saturday morning.

The package funds the government at current levels until March 14, 2025, and includes $100 billion in hurricane relief funds and $10 billion in aid to farmers.

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With the stopgap funding only running until March, an almost certain clash is looming between Trump and GOP spending hardliners when Congress reconvenes in January.

“The bipartisan funding bill I just signed keeps the government open and delivers the urgently needed disaster relief that I requested for recovering communities as well as the funds needed to rebuild the Francis Scott Key Bridge,” Biden said in a statement after inking the deal.

The post Biden signs bipartisan funding bill to keep government open appeared first on New York Post.

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Russia jails Ukraine resident 16 years for treason

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A military court in Russia’s southern city of Rostov-on-Don on Friday sentenced an unnamed resident of eastern Ukraine’s Lugansk region to 16 years in prison for “high treason,” according to Russia’s FSB security service.

Moscow regularly imposes heavy sentences on individuals it accuses of spying for Ukraine and has consistently imprisoned Ukrainians both in Russia and in occupied territories.

The sentencing coincided with President Vladimir Putin’s call for security services to adopt “tough” anti-terror measures, with a particular focus on military counter-intelligence, as the Kremlin’s offensive in Ukraine nears its third year.

Putin urged the special services to “identify spies and traitors” and “disrupt the work of foreign security services.”

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Prosecutors claimed the accused had passed information about the Russian armed forces to Kyiv’s security services.

The FSB, as reported by Russian news agencies, stated that the man was found guilty of state treason, aiding terrorist activities, and the illegal handling and transport of explosives.

The court ordered him to serve his sentence in a high-security penal colony.

The TASS news agency released a video of the man’s arrest, showing FSB officers stopping a car, dragging a man out, throwing him to the ground, and handcuffing him before taking him to the local FSB headquarters.

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The video, filmed by the FSB, featured the man—his face blurred — stating that he had been recruited by Ukraine’s SBU security service in 2016.

Russia frequently publishes confession videos filmed by the FSB after arrests.

Meanwhile, independent Russian media reported that an activist had died by suicide on Thursday in a Rostov detention centre, shortly after being sentenced to 16 years in prison, also in the Rostov region.

The Mediazona website confirmed with prison officials that Roman Shved, a 39-year-old anarchist sentenced for an arson attack on a government building following the Kremlin’s 2022 military mobilisation, had died in the detention centre.

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Several social media channels reported that Shved had taken his life just hours after being sentenced.

Russia has prosecuted thousands of its citizens for opposing the Ukraine conflict.

AFP

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