Trump abandons Bitcoin ETF

[davis196]

https://finance.yahoo.com/markets/crypto/articles/trumps-truth-social-pulls-bitcoin-100426533.html

This is slightly old news, but it flew below the radar. Trump was planning a Bitcoin ETF and now he has abandoned the idea.

This is yet another sign that Trump is pulling away from Bitcoin while still pumping his own products. That's a very bearish sign for Bitcoin since US government action can severely affect the price: say if the US president decided he'd make more money if he told people to buy his coin and not Bitcoin. Or worse, if he directed US government agencies to make enforcement actions that benefitted himself and his products at the expense of Bitcoin.

The crypto industry--now the biggest political donor in the United States--cemented itself tightly to Trump and his party starting in the 2024 election cycle. Hence, a major indicator of Bitcoin's price is going to be the political success (or failure) of Trump and his party.

The crypto industry is the biggest political donor in the US? Do you have any verified data to backup your claim? I find it hard to believe that the American crypto industry is the one, that donates more money to politicians in the US in comparison to the "Big Oil", "Big Pharma", "Big Tech", Wall Street or the industrial military complex. I also find it difficult to believe that the US crypto community had "cemented itself tightly to Trump". Most crypto supporters are libertarians and right wing people, who are against mass regulations, higher taxes and "big government". This means that most crypto enthusiasts in the US are supposed to be voting Republican. Maybe Trump's failures could cause small BTC price drops, but Bitcoin will be OK in the long run, no matter who is running the country.

[bitbollo]

Abandon ?
Probably they are just facing a challenge and just retreat for now .
There is a clear pressure to have new regulation, I would not see actually a real bad news (even the idea to be "bad" must be revised).For sure this is an interesting news and ... in a certain way could be see as negative... anyway, would you buy an "et?f" mixed btc - eth? as community, this could really help on what we are doing - it could help users / miners/ nodes etc?

[KiaKia]

https://finance.yahoo.com/markets/crypto/articles/trumps-truth-social-pulls-bitcoin-100426533.html

This is slightly old news, but it flew below the radar. Trump was planning a Bitcoin ETF and now he has abandoned the idea.

This is yet another sign that Trump is pulling away from Bitcoin while still pumping his own products. That's a very bearish sign for Bitcoin since US government action can severely affect the price: say if the US president decided he'd make more money if he told people to buy his coin and not Bitcoin. Or worse, if he directed US government agencies to make enforcement actions that benefitted himself and his products at the expense of Bitcoin.

The crypto industry--now the biggest political donor in the United States--cemented itself tightly to Trump and his party starting in the 2024 election cycle. Hence, a major indicator of Bitcoin's price is going to be the political success (or failure) of Trump and his party.

We can't take away the fact that Trump is playing politics to steal money, yes I said this with my full chest, it was all a game after all, the truth is politicians have to spend a lot of money to get better supports even if people don't like or choose to like them.

And once they win the first thing they will do is try to make all that money back and even more money, bitcoin was a big opportunity for Trump back then, many people wanted a president that will talk and support Bitcoin for a real bullrun to start.

Everyone wanted this, and Trump gave it, this was a perfect score for Trump, and he used his influence and power to sign the ETFs and other things, I am sure that they will do something similar after this bear market is over.