Thu, September 19, 2024 at 20:11

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some intriguing news about a recent development in the crypto world involving Donald Trump.

  • 
• Annie

  • Oh, really?

  • What happened?😊

  
• 

  Kang-hoon

  • Yes, indeed.

  • The US SEC Commissioner has shared a cautious nod for Trump's DeFi project, World Liberty Financial (WLFI).

  • This project has been gaining significant traction recently.

• Annie

  • Wow, that's interesting!

  • Is it because the project is associated with Trump?🤔

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • Exactly.

  • The association with the former US president has certainly helped in garnering attention.

  • The crypto community has shown support for Trump, especially after his recent backing of digital assets.

• Annie

  • So, what did the SEC Commissioner say about it?

  
• 

  Kang-hoon

  • In a recent interview, Commissioner Mark Uyeda shared a cautious response.

  • He wished the project Godspeed but refrained from making any direct comments on its merits.

• Annie

  • Hmm, that's quite diplomatic.

  • Did he say anything else?🤨

  
• 

  Kang-hoon

  • Yes, he emphasized that the SEC is a disclosure regulator, not a merit regulator.

  • He warned against expecting the agency to make value judgments about specific crypto projects.

• Annie

  • I see.

  • So, does this mean the SEC is not fully endorsing the project?

  
• 

  Kang-hoon

  • Correct.

  • Uyeda also mentioned that the SEC's regulatory stance has created a perception of politicization within the crypto community.

  • He advised crypto entrepreneurs, including Trump, to hire good lawyers.

• Annie

  • That sounds like a warning.😅 What about the project's popularity?

  
• 

  Kang-hoon

  • The WLFI project is indeed gaining popularity among market participants and regulators.

  • The project recently expressed gratitude to users for their positive feedback and hinted at major announcements coming soon.

• Annie

  • That's exciting!

  • How is Trump involved in the crypto space lately?

  
• 

  Kang-hoon

  • Recently, Trump made his first public Bitcoin payment at PubKey, a New York bar known for accepting BTC payments.

  • He bought hamburgers for his supporters and called them Bitcoin burgers.

• Annie

  • Bitcoin burgers?😂 That's quite a statement.

  • So, what does this mean for WLFI?

  
• 

  Kang-hoon

  • The SEC Commissioner's noncommittal yet encouraging remarks have sparked discussions about the regulatory pressure WLFI might face.

  • 

  • With the SEC's recent regulatory overreach, many are closely watching the project's future.

• Annie

  • Do you think this news is good or bad for the market?🤔

  
• 

  Kang-hoon

  • In the short term, I would say it's a negative development.

  • The cautious stance of the SEC and the potential regulatory hurdles could create uncertainty and volatility in the market.

  • Upon comprehensive consideration, this news is perceived as a 😱Bearish.