The latest edition of the White House Watch newsletter covers key topics affecting the U.S. presidential transition and government appointments. Howard Lutnick, a strong supporter of the controversial cryptocurrency Tether, faces criticism due to its association with criminal activity, while also being nominated to lead the commerce department. Meanwhile, Mitch McConnell positions himself against isolationism within the Republican Party, emphasizing the need for U.S. involvement in global affairs despite tensions with former President Trump. This edition also highlights other significant appointments, including Andrew Ferguson as chair of the Federal Trade Commission and Kari Lake as director of Voice of America. Stay informed with updates every Tuesday and Thursday by subscribing to the newsletter.
In the latest edition of White House Watch, key topics are making headlines as the Biden administration gears up for the upcoming presidential transition.
Tether Support at the Top
Howard Lutnick, nominated by Donald Trump to lead the Commerce Department, has emerged as a strong supporter of cryptocurrency tether, despite its troubling association with criminal activities. As Tether raked in $5.2 billion in profits in the first half of 2024, Lutnick has defended the digital asset’s legitimacy at crypto conferences, highlighting its potential to revolutionize global finance. However, law enforcement officials point out that Tether is often used by drug cartels, hackers, and other criminal organizations. As co-chair of the Trump transition team, Lutnick’s influence over crypto regulations could shape the future of digital assets in the U.S.
Mitch McConnell Takes a Stand
In political developments, Mitch McConnell, the former Republican Senate leader, is focusing on protecting U.S. interests against the isolationist wing of the GOP. McConnell warned about the dangers of isolationism, drawing parallels to the pre-World War II era. He remains opposed to Trump and his vice-president-elect, JD Vance, on issues involving Ukraine funding. McConnell’s willingness to challenge Trump on controversial nominees indicates a continuing tension within the party.
Key Appointments
Amidst the transition discussions, Trump has made significant appointments, including Andrew Ferguson as the new chair of the Federal Trade Commission and Kari Lake for the director of Voice of America. His son’s fiancée, Kimberly Guilfoyle, has been tapped for the ambassadorship to Greece, while Tom Barrack is set to become the ambassador to Turkey.
In summary, as the political landscape shifts, issues surrounding cryptocurrency regulation and U.S. foreign policy remain critical. The upcoming transition will be closely watched as new leaders take their positions on significant national and international matters.
Tags: US Politics, Cryptocurrency, Tether, White House Watch, Mitch McConnell, Donald Trump, Presidential Transition.
What is Tether?
Tether is a type of digital currency called a stablecoin. Its value is tied to the US dollar, which means one Tether is usually worth one dollar. This makes it a stable option for trading and using in the crypto world.
How does Tether work?
Tether works by holding a reserve of real dollars. For every Tether coin created, there should be an actual dollar in reserve. This creates trust and stability, making it easy for people to buy and trade without the big price swings common in other cryptocurrencies.
Where can I buy Tether?
You can buy Tether on many cryptocurrency exchanges. Some popular ones include Binance, Coinbase, and Kraken. You can trade other cryptocurrencies or even dollars to get Tether.
Is Tether safe to use?
Tether is generally considered safe because it is a stablecoin, but there are risks. It’s important to do your research and understand the company’s practices. Always use secure wallets and be cautious about where you buy and trade.
Can I use Tether for everyday purchases?
Yes, you can use Tether at some places that accept cryptocurrencies. However, not as many businesses accept Tether directly compared to regular money. It’s best to check if a store or service supports Tether before trying to use it.
