#Bitcoin has been volatile as usual. It raced up almost 20% when #Trump took office, only to dive nearly 30% when his plans for a #US #cryptocurrency reserve failed to impress.
And if you think that's bad just look at #Musk’s #Tesla share price versus its main rival #BYD since inauguration day. Ouch.
Find a new bank if your bank embraces this.
The crypto super PACs have spent a combined $1.5 million on two special elections in deeply red districts in Florida, where Republicans have been panicking about being outspent by Democrats. Musk’s America PAC also dropped some cash to help out Trump’s picks.
Other input has come from the likes of Lee Reiners, who writes “I must admit that whole endeavor seems performative and intended to justify a predetermined outcome.”
The SEC has requested input to write essentially entirely new rules for the crypto industry, and the industry has been only too happy to oblige.
And Trump’s WLFI is looking to launch a stablecoin. Though Trump has described central bank-controlled stablecoins as “a dangerous threat to freedom”, he seems to have no qualms with a president-controlled token.
Trump Media execs have filed paperwork for a SPAC to target the crypto industry, reasoning that it’s strategic because of Trump’s “unprecedented steps to integrate digital assets into the national financial strategy” that were “aimed at benefiting the digital assets industry”.
In order to close the deal, Crypto.com had to resurrect $7 billion in CRO tokens that were burned in 2021. This was decided by a “vote” in which Crypto.com validators controlled more than 70% of the voting power — nearly all other CRO holders opposed.
![Though the details were scarce, the press release suggested the crypto ETFs would “include a unique ETF basket of cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets.” (Cronos is the token issued by Crypto.com subsidiary Cronos Labs.) All of this will happen via the “Truth.Fi” brand, a business venture announced by Trump Media in February [I76]. There has been some controversy over this deal in the crypto world, centering around a decision by Crypto.com and Cronos to fund the deal by “reissuing” tokens notionally worth $7 billion that had been burned (ostensibly permanently destroyed) in 2021.7 The proposal was unpopular among many Cronos holders, and comments on the proposal were universally negative. “Veto. Reversing a burn is a violation of trust and integrity of the ecosystem,” commented one community member. “This is a disaster on so many levels—I don’t even know where to begin. This should be a firm NO, with a veto. It feels more like a rug pull from [Crypto.com], where they’re essentially seeking exposure to the US reserve using consumers' money,” argued another.8 Most Cronos validators voted no on the proposal. However, at the last minute, a sudden surge in yes votes came in from validators operated by Crypto.com, which controls 70–80% of the voting power in Cronos, forcing through the proposal.9](https://media.hachyderm.io/media_attachments/files/114/241/077/405/182/653/original/8247e5a6769a8ed9.png "Though the details were scarce, the press release suggested the crypto ETFs would “include a unique ETF basket of cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets.” (Cronos is the token issued by Crypto.com subsidiary Cronos Labs.) All of this will happen via the “Truth.Fi” brand, a business venture announced by Trump Media in February [I76]. There has been some controversy over this deal in the crypto world, centering around a decision by Crypto.com and Cronos to fund the deal by “reissuing” tokens notionally worth $7 billion that had been burned (ostensibly permanently destroyed) in 2021.7 The proposal was unpopular among many Cronos holders, and comments on the proposal were universally negative. “Veto. Reversing a burn is a violation of trust and integrity of the ecosystem,” commented one community member. “This is a disaster on so many levels—I don’t even know where to begin. This should be a firm NO, with a veto. It feels more like a rug pull from [Crypto.com], where they’re essentially seeking exposure to the US reserve using consumers' money,” argued another.8 Most Cronos validators voted no on the proposal. However, at the last minute, a sudden surge in yes votes came in from validators operated by Crypto.com, which controls 70–80% of the voting power in Cronos, forcing through the proposal.9")
Trump is seeking to expand his personal crypto footprint, and his Trump Media company is looking to partner with Crypto.com to launch ETPs. The Singapore-headquartered company is an odd choice of partner for a plan with a “Made in America focus”.
Lead crypto adviser Bo Hines is already hard at work getting “a lot of high IQ people” to work on “countless ideas” for how the US can add more bitcoin to its reserve while remaining technically “budget neutral”.
![Any sense of relief that may have followed the March executive order’s stipulation that a “strategic bitcoin reserve” would not incur costs to taxpayers has melted away with news that White House are already looking for creative ways to acquire bitcoin in a “budget neutral” way.
Bo Hines, the baffling choice of executive director for the White House’s “crypto advisory council” [I72, 74], sat for an interview in which he commented that “there’s a lot of high IQ people working on ... countless ideas” to ~~pump bitcoin prices to profit bitcoin holders~~ acquire additional bitcoins for the reserve, including “realizing the gains” on US gold reserves. Asked by the interviewer if he might consider selling some of the country’s gold reserves to swap them for bitcoin, Hines answered, “if it's budget neutral and doesn't cost a taxpayer a dime”.5
In the same interview, he commented that bitcoin “is different” from the other crypto assets like Ether, Ripple’s XRP, Solana, or Cardano’s ADA. “It’s unique. It’s a commodity, not a security.” Evidently, Hines has not been briefed that they’re not supposed to admit anymore that these other crypto assets are securities.5](https://media.hachyderm.io/media_attachments/files/114/241/071/924/183/725/original/acf6baaf9de14024.png "Any sense of relief that may have followed the March executive order’s stipulation that a “strategic bitcoin reserve” would not incur costs to taxpayers has melted away with news that White House are already looking for creative ways to acquire bitcoin in a “budget neutral” way.
Bo Hines, the baffling choice of executive director for the White House’s “crypto advisory council” [I72, 74], sat for an interview in which he commented that “there’s a lot of high IQ people working on ... countless ideas” to ~~pump bitcoin prices to profit bitcoin holders~~ acquire additional bitcoins for the reserve, including “realizing the gains” on US gold reserves. Asked by the interviewer if he might consider selling some of the country’s gold reserves to swap them for bitcoin, Hines answered, “if it's budget neutral and doesn't cost a taxpayer a dime”.5
In the same interview, he commented that bitcoin “is different” from the other crypto assets like Ether, Ripple’s XRP, Solana, or Cardano’s ADA. “It’s unique. It’s a commodity, not a security.” Evidently, Hines has not been briefed that they’re not supposed to admit anymore that these other crypto assets are securities.5")
Newsletter: As the US government lays a very favorable groundwork for the crypto industry, Trump positions himself for maximum personal profits. Meanwhile crypto companies write their own rules, and an adviser mulls swapping US gold reserves for bitcoin.
It's not clear that BitBoy even knows he's been sued yet; he was arrested two days ago after sending threatening emails to the judge in a DIFFERENT defamation case he's facing from his former business partners after he publicly accused them of various crimes
Amusingly, BitBoy once tried to file a defamation lawsuit of his own against a YouTuber who called him a "shady dirtbag"
He dropped the suit almost immediately after the YouTuber raised over $200,000 for his defense in a matter of days, and Armstrong admitted he didn't know lawsuits were public
![“expose him [Armstrong] as the dirtbag he is,” and states several times that Armstrong is one of a group of “dirtbag influencers.” 16. Atozy’s Video continues Atozy’s “dirtbag” attack with this statement: “so in case you didn’t know what an absolute sleezy dirtbag of a YouTuber is, here’s BitBoy Crypto, a prime example of that.” On another occasion, Atozy’s Video states that “this man [Armstrong] has enriched himself by being an all-around dirtbag.” 17. Atozy’s Video directly attacks Armstrong’s livelihood stating that when it comes to cryptocurrency advice, Armstrong is “not someone you should be looking up to for any advice whatsoever.” To drive the point home, Atozy’s Video asks “how is this man a reputable source for crypto investment advice?” The Atozy Video answers its own rhetorical question stating that Armstrong “cannot be trusted with financial advice because you don’t know whether he’s trying to enrich you or himself.”](https://media.hachyderm.io/media_attachments/files/114/238/009/639/551/738/original/279d82ed3ac1c23f.png "“expose him [Armstrong] as the dirtbag he is,” and states several times that Armstrong is one of a group of “dirtbag influencers.” 16. Atozy’s Video continues Atozy’s “dirtbag” attack with this statement: “so in case you didn’t know what an absolute sleezy dirtbag of a YouTuber is, here’s BitBoy Crypto, a prime example of that.” On another occasion, Atozy’s Video states that “this man [Armstrong] has enriched himself by being an all-around dirtbag.” 17. Atozy’s Video directly attacks Armstrong’s livelihood stating that when it comes to cryptocurrency advice, Armstrong is “not someone you should be looking up to for any advice whatsoever.” To drive the point home, Atozy’s Video asks “how is this man a reputable source for crypto investment advice?” The Atozy Video answers its own rhetorical question stating that Armstrong “cannot be trusted with financial advice because you don’t know whether he’s trying to enrich you or himself.”")
BitBoy also suggested that O'Leary was trying to have him killed, and claimed he'd swatted him. Shortly after, he posted O'Leary's cell phone number and encouraged his followers to "call a real life murderer"
Quote from man sued: "What are you gonna do, sue me?"
Kevin O'Leary has sued crypto personality Ben Armstrong (aka "BitBoy Crypto") for repeatedly claiming O'Leary murdered two people
(O'Leary and his wife were indeed involved in a boating collision that killed two people in 2019; O'Leary states in the lawsuit that it was his wife driving the boat, and she was acquitted of any charges)
Complaint: https://www.courtlistener.com/docket/69798755/1/oleary-v-armstrong/
![27. On March 19, 2025, Armstrong unleashed another tweet accusing O’Leary of committing “actual crimes”: “Doesn’t everybody think it’s weird that I’ve been publicly calling … @kevinolearytv [a] murderer[] and yet not a single word or legal action? It’s almost like they ‘can’t’ because a lawsuit would open up their actual crimes and they know it.”](https://media.hachyderm.io/media_attachments/files/114/237/895/924/560/202/original/c9f1727bcc33a705.png "27. On March 19, 2025, Armstrong unleashed another tweet accusing O’Leary of committing “actual crimes”: “Doesn’t everybody think it’s weird that I’ve been publicly calling … @kevinolearytv [a] murderer[] and yet not a single word or legal action? It’s almost like they ‘can’t’ because a lawsuit would open up their actual crimes and they know it.”")
Another Monday. Another edition of the Privacy Roundup featuring news items curated with end user #privacy and #security in mind.
This edition features:
- #Android Apps using #Bluetooth and Wi-Fi connection data to estimate and collect user location data
- #Apple Passwords app used insecure HTTP
- Video gamers beware: another game pulled from Steam for being #malware in disguise
- Free online converters adding malware to converted files
- Threat actors using #Reddit posts to push information stealing malware, primarily targeting #cryptocurrency traders/enthusiasts
- Data breaches at the largest US sperm bank and a large teacher union
… and more.
#privacymatters #databreach #cybersecurity #cybersecurity #infosec #gaming
Newsletter: The crypto industry frees itself from the last remnants of SEC oversight, and Solana tries to appeal to its target demographic by bashing trans people.
Finally, Reddit co-founder Alexis Ohanian seems to be permanently several years slow in picking up on tech trends. After insisting in 2023 that play-to-earn games were still the future of gaming, he has now proposed buying TikTok and putting it on the blockchain.
![Frank McCourt and his Project Liberty project will be joined by Reddit co-founder and ex-CEO Alexis Ohanian in their effort to buy Tiktok, with a new addendum by Ohanian: “—and bring it on-chain”. One is forced to wonder if Ohanian has just woken up from a three-year-long nap still believing that “web3” is a buzzword that gets everyone excited these days.31 While Project Liberty has spoken about wanting to “put people in control of their digital identities and data” and suggested “migrat[ing] the [TikTok] platform to a new digital open-source protocol”32 — ideas that sound compelling (if vague) — it’s a shame that Ohanian seems to want to focus their efforts on blockchains.
It’s perhaps not surprising, though, given Ohanian’s past investments in crypto-related projects primarily to do with blockchain-based gaming — including the ill-fated Axie Infinity game which suffered a $625 million hack [W3IGG] and then, separately, a total collapse of its in-game economy from which it has never recovered. In January 2022, Ohanian predicted that within five years, 90% of people would refuse to play a game unless they were being paid to do so in crypto (the premise known as play-to-earn).33 He re-upped the five year prediction in 2023, though I’m not sure you’re allowed to just continuously reset the clock like that.34 Given his past blockchain gaming predictions, McCourt might be wise to be a bit more skeptical about Ohanian’s assertions that blockchains will form the futur](https://media.hachyderm.io/media_attachments/files/114/195/440/150/158/669/original/df6a737e1af45edf.png "Frank McCourt and his Project Liberty project will be joined by Reddit co-founder and ex-CEO Alexis Ohanian in their effort to buy Tiktok, with a new addendum by Ohanian: “—and bring it on-chain”. One is forced to wonder if Ohanian has just woken up from a three-year-long nap still believing that “web3” is a buzzword that gets everyone excited these days.31 While Project Liberty has spoken about wanting to “put people in control of their digital identities and data” and suggested “migrat[ing] the [TikTok] platform to a new digital open-source protocol”32 — ideas that sound compelling (if vague) — it’s a shame that Ohanian seems to want to focus their efforts on blockchains.
It’s perhaps not surprising, though, given Ohanian’s past investments in crypto-related projects primarily to do with blockchain-based gaming — including the ill-fated Axie Infinity game which suffered a $625 million hack [W3IGG] and then, separately, a total collapse of its in-game economy from which it has never recovered. In January 2022, Ohanian predicted that within five years, 90% of people would refuse to play a game unless they were being paid to do so in crypto (the premise known as play-to-earn).33 He re-upped the five year prediction in 2023, though I’m not sure you’re allowed to just continuously reset the clock like that.34 Given his past blockchain gaming predictions, McCourt might be wise to be a bit more skeptical about Ohanian’s assertions that blockchains will form the futur")
Despite Solana's primary claim to fame these days being a memecoin launchpad currently offering “on-chain ballsack” and “Depressed Couch Fart”, the ad depicts a man named “America”, sitting on a therapist’s couch comparing Solana to “multi-planetary travel” and nuclear energy.
