Charles Hoskinson has spotlighted the troubling allegations that the U.S. Agency for International Development (USAID) is financing projects that produce negative narratives about Bitcoin. Critics have raised alarms about a government-backed organization promoting contentious views surrounding digital currencies. In a related note, Grayscale has recently filed for an exchange-traded fund (ETF) for ADA Coin.
What is Grayscale’s New ETF Application?
Just moments ago, Grayscale announced its ETF application for ADA Coin. This addition brings the total to 33 active ETF applications aimed at various alternative cryptocurrencies such as DOGE, HBAR, and LTC. Many of these are expected to see outcomes in November as the SEC prepares to make its final rulings. The recent surge in ETF filings is attributed to newfound optimism fostered by the current SEC administration, with officials indicating that the majority of altcoins do not qualify as securities.
How is USAID’s Funding Being Challenged?
Concerns have emerged regarding a publication allegedly supported by USAID that links Bitcoin to right-wing extremism. This controversial piece, published by the University of Minnesota Press, features a writer known for labeling Bitcoin as an extremist movement.
Charles Hoskinson criticized, “It seems that USAID is funding propaganda that claims Bitcoin is right-wing extremism. I can no longer tolerate this nonsense.”
The discussion over USAID’s financing comes at a time of uncertainty regarding its internal governance. Since budget cuts during the Trump era, many personnel have faced layoffs. French Hill, the Chairman of the House Financial Services Committee, has indicated that investigations into USAID’s financial practices are currently underway.
How is the Bitcoin Market Responding?
Despite ongoing global economic challenges, Bitcoin’s market remains robust, with current prices around $97,000. Additionally, a trademark application by Trump’s media firm for digital investment products suggests possible shifts in regulatory attitudes. Experts are predicting a more accommodating regulatory framework, leading to a reevaluation of attitudes towards digital technologies in the financial sector.
- Concerns raised about USAID’s funding and its implications for Bitcoin narratives.
- Grayscale’s ETF filing indicates growing interest in altcoins.
- Ongoing investigations into USAID’s financial practices may lead to transparency.
- Stable Bitcoin market reflects resilience amid global economic turbulence.
Future developments in digital asset regulations and policies are expected to garner significant attention, offering insights for stakeholders and enthusiasts in the technology and investment communities.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/hoskinson-challenges-usaids-funding-practices