Under Trump, the First Crypto President, Where Will Markets Go? - Ep. 732
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Bitcoin dominance for the first time, I think, actually trended down this week while Bitcoin, of course, was going up. So this shows you there is fervor and excitement for the possibility of these altcoins to have true meaningful value capture for the next next few years.
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto 9 years ago and as a senior editor at Forbes, was the 1st mainstream media reporter to cover cryptocurrency full time. This is the November 8, 2024 episode of Unchained. Polkadot is the original and leading layer 0 blockchain with over 2,000 plus developers. And the Polkadot 2.0 upgrade will be a massive accelerator for the ecosystem. Join the community atpogadot.network/ecosystem/community. FBTC is the fastest growing omnichain BTC as
Laura. Thanks for having me. Crypto
played a very big role in this election from being one of the biggest industry donors to Poly Market, to Trump's promises to the crypto industry. What are your takeaways from seeing how crypto and politics finally intersected in a big way? Yeah.
It's been an an amazing week to live in this moment of history. As I'm still digesting the news, I think there are 2 key takeaways I've taken away. 1 is it is very clear to me at this point that there's 0 electoral upside to being anti crypto. I think this is a profound thing, and we should dig into that a little bit deeper. And the other thing that I'm taking away pretty meaningfully is that the way society will digest information in the future will continue to rely on decentralized sources. That could mean Twitter and x, for example. But as you've alluded to, it could also mean something lik
And when you talk about how there is zero upside for politicians to be anti crypto, I did wanna ask because there might be this perception now that crypto is aligned with the right. Do you see that as a risk, or do you think that that's going away?
This is such an important question, Laura. I'm so glad you asked. At at at a very fundamental level, part of why I think we've seen such a win for the crypto industry is because if you think about the core ethos of crypto, right, what is its true value system? There's a high correlation to this being associated with individuals who believe in, self determination, individual rights, and censorship resistance. Right? And these are actually very core democratic principles. This is actually why even though the numbers are still coming in, we have now over 325 crypto supporting members in Congress.
And so so but you don't think that the left now views this as something that will flourish under right right leaning governments and that when they're in power that they'll do things against it? You you don't feel like that's a risk?
I hope it's not a risk. And I think to date, one of the amazing things you've seen is that the political lobbying efforts from the industry was actually fairly bipartisan as I've witnessed it. So if you look at how Fair Shake has contributed their, contributions to these races, At the house level, it's actually pretty evenly split, not just by money allocated, but also by the count of seats that they were supporting republicans and democrats. That's actually kind of important. In the senate race, it looks a little bit different. There was historic amount of capital there, 40,000,000 plus spent
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