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Share link:In this post: President Trump, through Treasury Secretary Scott Bessent, is moving forward with interviews for 11 potential replacements for Fed Chair Jerome Powell, whose term ends in May. The list includes current Fed governors, past officials, and top financial executives. Philip Jefferson, the current vice chair, is also in the running. If selected, he would become the first Black Fed Chair in U.S. history.
Share link:In this post: A new bill (HB1812) introduced in the Pennsylvania House of Representatives could impose jail time on public officials who fail to divest their Bitcoin holdings. Officials who do not comply with the divestment requirement could face civil penalties of up to $50,000, and violations may be classified as felonies. Similar proposals, especially at the federal level, are growing as more officials express discontent with Donald Trump’s relationship with crypto.
- 22:09El Salvador currently holds 6,375.18 bitcoins.Jinse Finance reported that, according to mempool data, El Salvador currently holds 6,375.18 BTC, equivalent to approximately 660 millions USD.
- 22:03The U.S. Treasury has granted tax breaks to large companies, including cryptocurrency firms, without legislative approval.Foresight News reported, according to The New York Times, that the U.S. Treasury Department has provided tax breaks this year to private equity firms, cryptocurrency companies, foreign real estate investors, and other large corporations. In October this year, the Internal Revenue Service (IRS) issued new proposed regulations that would offer benefits to foreign investors in U.S. real estate. In August, the IRS proposed relaxing rules designed to prevent multinational companies from avoiding taxes by claiming duplicate losses in multiple countries. The New York Times stated that these announcements have not yet made media headlines, but have been noticed by accounting and consulting firms. Kyle Pomerleau, a senior fellow at the American Enterprise Institute, said that the U.S. Treasury Department has clearly been implementing tax cuts without legislative approval. The Constitution stipulates that Congress decides tax law, while the Treasury Department is asserting greater authority over the structure of tax law than Congress has granted, undermining this constitutional principle.
- 22:03Euler DAO treasury multisig address will be changed, and the old address will be dedicated to protocol management.Foresight News reported that the Euler Foundation has announced an optimization plan for the Euler DAO treasury multisig address. A new multisig address will be created as the treasury address, and assets from the original address will be transferred to the new address. Protocol revenue will temporarily remain in the original address to facilitate data tracking during the transition period. The new multisig address will be dedicated to asset management and allocation, while the old multisig address will be used exclusively for protocol management. The signers will be updated to six Euler Labs members and two foundation directors, with a signing threshold of 4 out of 8.