“Whistleblower Leak Points to a Potential Executive Order by Joe Biden, Setting the Stage for Cryptocurrency Market Turmoil: Buckle up for a Wild Ride!”
The cryptocurrency market, including Bitcoin (BTC), Ethereum, and XRP, has been facing challenges due to the threat of a crypto crackdown. However, amidst this uncertainty, Wall Street giants are preparing for a massive $48.3 trillion opportunity. To navigate this rollercoaster ride, you can subscribe to Forbes’ CryptoAsset & Blockchain Advisor.
Recently, the Bitcoin price has surged, driven by the hype surrounding BlackRock’s closely watched Bitcoin spot exchange-traded fund (ETF) application. This surge has also boosted the prices of Ethereum, XRP, and other cryptocurrencies. While Wall Street quietly lays the groundwork for the next crypto bull run, the industry is on edge due to reports of U.S. President Joe Biden gathering senior tech executives to unveil sweeping artificial intelligence regulation. There are concerns that this regulation could spill over into the Bitcoin and crypto market.
Adding to the anticipation is the upcoming historical halving event for Bitcoin, which is expected to cause price chaos. To stay ahead of the market, you can sign up for the free CryptoCodex daily newsletter, which provides insights for traders, investors, and the crypto-curious.
U.S. President Joe Biden’s administration has invited tech industry executives to the White House for the unveiling of its long-awaited artificial intelligence executive order. This event aims to address safe, secure, and trustworthy AI and is set to be attended by some of the biggest tech industry names. While the order is expected to require the assessment of AI models before their use by federal workers, there are concerns within the crypto community. Earlier reports of the order raised alarms as there were fears that it could classify computing power as a “national resource.” This could result in cloud computing providers being required to disclose when customers purchase computing resources beyond a certain threshold, including for activities like mining Bitcoin and running AI models. The potential impact on the crypto industry has raised concerns.
The Bitcoin network, which relies on miners to validate transactions using high-powered computers, consumes a significant amount of electricity. The U.S. has become the home to more Bitcoin miners than any other country since China’s ban on Bitcoin mining in 2021.
While the crypto market faces challenges, there is optimism as Wall Street prepares for significant opportunities. However, it is crucial to stay informed and updated to navigate the market successfully.