Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Crypto political committee receives $25 million donation from a16z amid Trump and Elon Musk's meeting

Source Fxstreet

Fairshake received another $25 million donation from venture capital firm a16z.
Donald Trump's pro-crypto stance continues as he allegedly sought counsel from Elon Musk.
President Joe Biden's campaign is allegedly reaching out to crypto industry players.

Andreessen Horowitz (a16z) made a new donation to the Fairshake Super PAC on Thursday following an alleged report that Donald Trump is seeking counsel on cryptocurrency guidelines from Tesla and Space X CEO Elon Musk.

a16z adds fresh donation to crypto PAC

Andreessen Horowitz (a16z) made a fresh $25 million contribution to the Fairshake Super political action committee (PAC) on Thursday, bringing its total donations to $47 million. Crypto expert and a16z's General Partner, Chris Dixon, revealed the latest donation.

This follows Ripple's $25 million donation to the Super PAC on Wednesday, making the company the committee's highest donor.

Read more: Ripple adds $25 million donation to political committee’s war chest

These donations aim to further Fairshake's mission to support pro-crypto candidates in the upcoming elections.

Meanwhile, a recent Bloomberg report claimed that former US President Donald Trump met with billionaire Elon Musk to seek counsel on crypto.

The report suggests that both billionaires are discussing crypto policies, following Trump's recent positive attitude towards Bitcoin and crypto. It also alleged that Trump's campaign is considering bringing Musk to speak on cryptocurrencies at a convention.

"Trump campaign officials have also talked about the possibility of inviting Musk to speak at the Republican convention, but are still far from making a final decision," Bloomberg wrote.

Also read: US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

However, Elon Musk responded to the claims made by the report concerning his alleged meeting with Trump in an X post, stating that he has never had a conversation with Trump about cryptocurrencies.

"Pretty sure I've never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do," said Musk.

In response to Trump's pro-crypto moves, President Joe Biden's campaign has allegedly been reaching out to crypto industry players, sources told The Block.

The sources said his camp has begun to see the crypto industry's potential impact on the forthcoming elections.

"The engagement effort, which started about two weeks ago, comes as Biden's camp increasingly recognizes the impact crypto-related issues could have on a presidential race that is likely to be close," The Block wrote.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

11 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

12 hours ago

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Have Fed Rate Hike Headwinds Been Priced In? Gold Rebounds Strongly Toward $4,400, Poised for a New Rally As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

Author TradingKey

Sep 18, Fri

As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Popular Symbols