jakiro
Author: DeMan
On the current political arena, cryptocurrencies are in the spotlight again, especially as Trump chooses Ohio Senator JD Vance as his vice presidential candidate.The decision has attracted widespread attention not only because of Vance’s political background, but also because of his investment in the cryptocurrency space.
According to the latest financial information disclosed by Trump, Vance holds $100,000 to $250,000 worth of Bitcoin through Coinbase.The news was released on the X platform by Fox Business reporter Eleanor Terrett.This information further confirms Vance’s supportive attitude towards cryptocurrencies, bringing new hope and momentum to the cryptocurrency market.
JD Vance, a Bitcoin holder and cryptocurrency supporter, will undoubtedly have a profound impact on the industry as a whole.So, how will Vance’s cryptocurrency investment background and its performance in politics affect the future of the market?
Who is JD Vance: Veterans, Venture Capital Experts, and From a Miserable Family
JD Vance has a rich and diverse background that gives him a unique advantage in both politics and business.He served in the U.S. Marine Corps, and this experience tempered his willpower and leadership.After retiring, he entered Yale Law School and obtained a law degree, laying a solid legal foundation for his career.
After graduating from Yale, Vance entered Silicon Valley and became a successful venture capitalist.He works for Mithril Capital, a venture capital firm founded by well-known investor Peter Thiel.Here, Vance has accumulated rich industry experience and established a wide network of people.In 2019, Vance founded its own venture capital firm Narya Capital, which was supported by Silicon Valley giants such as Thiel, former Google CEO Eric Schmidt, and Netscape founder Mark Andrison.The company aims to bring capital to the Midwest to support local innovation and entrepreneurship.
Vance’s political career is also impressive.In 2022, with Trump’s support, Vance was successfully elected as the federal senator in Ohio.He actively promotes a number of legislation in the Senate, including bills related to cryptocurrency regulation.According to Politico, Vance is drafting a new bill aimed at improving the existing cryptocurrency regulatory framework to make it more friendly and clear.The bill, which is expected to be introduced in July, is to clarify regulatory responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Vance is not just a legislator, he is also a determined Bitcoin holder.As of 2022, he holds $100,000 to $250,000 worth of Bitcoin through Coinbase.This investment not only shows his confidence in the future of cryptocurrencies, but also makes him one of the spokespersons for the industry.He has publicly criticized the SEC for its regulatory approach to the cryptocurrency industry, believing that this approach is too harsh and hinders innovation and development.
Through these resumes, we can see that JD Vance not only has outstanding performance in the military, legal, business and political fields, but also has a positive attitude in the cryptocurrency field.His multiple background and extensive support make him a unique vice presidential candidate whose joining will bring new changes and opportunities to the U.S. politics and the cryptocurrency industry.
As a strong promoter of the passage of the FIT21 bill, JD Vance has always been a supporter of Web3
The 21st Century Financial Innovation and Technology Act (FIT21) is an important legislation in the cryptocurrency field.In May 2024, the bill passed in the House of Representatives with 279 votes in favor and 136 votes against, marking a major progress in the cryptocurrency industry in Congress.The FIT21 Act provides a clear regulatory framework for digital assets, clarifying the regulatory responsibilities of the SEC and CFTC.Specifically, the CFTC will regulate decentralized digital assets, while the SEC will be responsible for functional but not fully decentralized assets.In addition, the bill also includes consumer protection measures such as customer fund isolation, token insider lock-up period, annual sales restrictions and disclosure requirements.
JD Vance is one of the important promoters of this legislation.Not only did he support the FIT21 bill, he also drafted a draft to improve the bill in the Senate, aiming to make it more friendly and clear.This shows his deep understanding and support for the cryptocurrency industry.Vance holds $100,000 to $250,000 in Bitcoin through Coinbase and opens accounts on Robinhood and Charles Schwab, demonstrating his confidence in cryptocurrency.
In addition to personal investment, Vance also publicly criticized the SEC for being too strict in cryptocurrencies, believing that this approach hinders innovation and development.Last year, he wrote to SEC Chairman Gary Gensler with other Republican lawmakers, expressing concerns about the SEC making inaccurate statements when suing crypto startup DEBT Box.He also criticized the Canadian government for freezing bank accounts of people involved in the 2022 Ottawa truck driver protests, saying it further highlights the importance of cryptocurrencies.
As a member of the Senate Banking Committee, Vance is drafting a new cryptocurrency regulation bill, which is planned to be introduced in July.Vance’s efforts not only bring new hope to the cryptocurrency industry, but also demonstrate his strong political support for the industry.”Senator Vance is an emerging voice in supporting innovative crypto legislation and an ideal candidate to lead the Republican crypto principle,” said Kristin Smith, CEO of the Blockchain Association.
Through these efforts, JD Vance not only provides legislative support to the cryptocurrency industry, but also becomes a major supporter of the industry politically, driving the development of cryptocurrencies in the United States.
Once JD Vance is elected as vice president, it will have a profound impact on the entire Web3
JD Vance’s election as vice president could have a profound impact on the cryptocurrency industry and American politics.First, as a Bitcoin holder and cryptocurrency supporter, Vance’s policy tendency will inject more confidence into the market.He holds $100,000 to $250,000 in Bitcoin through Coinbase, showing long-term optimism for this field.This will undoubtedly attract more investors and promote the popularization and development of cryptocurrencies.
In terms of legislation, the 21st Century Financial Innovation and Technology Act (FIT21) promoted by Vance will provide a clearer and more friendly regulatory framework for the cryptocurrency industry.The bill not only clarifies the regulatory responsibilities of the SEC and CFTC, but also includes a number of consumer protection measures designed to prevent market manipulation and encourage innovation.If Vance is elected, the adoption and implementation of this bill will become a reality, further regulating and promoting the development of the cryptocurrency market.
Vance’s political stance is also worthy of attention.He actively expressed his support for Trump on Twitter and severely criticized Biden and the Democratic Party.Vance retweeted Alex Pfeiffer’s tweet on July 14, condemning the Democrats’ attempt to strip Trump of Secret Service protection, saying: “Turn this asshole out of Congress, an absolute scum.” On the same day, he also shot PennsylvaniaThe victims of the case launched an official fundraising campaign, calling on everyone to donate to help the victims.
In addition, Vance posted a statement on July 11 to accuse Biden of his policies, saying that the newly appointed IRS secret service union attacked the middle class, pointing out that this is another lie for Biden.On July 10, he stressed that Trump brought peace and prosperity, lowered food prices and raised wages, while the Democrats did the opposite.On July 3, he directly stated that the Democratic elites are trying to replace Biden, but if Biden is not suitable for running for president, then he is not suitable for being president.
Through these remarks and actions, Vance demonstrates his strong support for Trump and his strong criticism of the Democratic Party.If elected, he will not only bring new opportunities to the cryptocurrency market, but will also promote Trump’s policies politically, continuing to criticize and oppose the Biden administration.This will bring new impetus and changes to American politics.
