Democrats

Money, Inflation, and Debt

Congress just passed a $1.2 trillion spending package, aimed at mending the US roads and transport infrastructure. Democrats claim the bill pays for itself through a variety of sources without raising taxes. But the Congressional Budget Office reported that the bill would add $256 billion to the deficit over the next 10 years. If taxes are not raised, where is the money coming from? The CBO stated that the bill would raise about $50 billion by changing the tax reporting requirements for cryptocurrencies, among other measures. That would be half a billion

Ted Cruz says crypto got ‘screwed’ after senate votes on infrastructure bill

In an occurrence with effects yet to be fully determined, US democrats have objected to moves to make further amendments to the crypto tax provision in the infrastructure bill. Senator Cruz reflects on crypto bill provisionTed Cruz, the lawmaker representing Texas at the United States Senate, revealed this in a tweet on Monday. “Crypto got screwed tonight,”he wrote, noting that the disagreement over the issue of spending took a partisan dimension with Democrats voting against its change.🚨Crypto got screwed tonight.🚨There’s a partisan disagreement on spending, so Dems objected to ALL further amendments.That

April Fools, Celebrity Scams, & Manipulated Markets: Bad Crypto News of the Week

Bitcoin seems to be settling happily above $6,000 and is currently just north of $6,500 again. Let’s hope we’ve seen the last of those $5,000 movements and we’re ready for a steady climb back to double figures before the halving in mid-May. It’s getting closer.In the meantime, the Federal Reserve now appears to have merged into the federal government. An opinion piece in Bloomberg has described how an alphabet soup of financial programs intended to help the economy through the current crisis is allowing the government to buy up securities

AT&T Starts Appeal to Dismiss Crypto Investor’s SIM Swapping Case 

AT&T has moved to have a long-standing negligence case against it dismissed. Earlier this week, the company filed a motion to dismiss claims that it was complicit in a SIM swapping case that resulted in millions in crypto stolen from its customers. The case itself originated back in 2018, when crypto investor Michael Terpin sued the telecoms giant of negligence and accused it of being complicit in two separate SIM swapping operations. A Timeline of Terpin’s CaseAt the time, Terpin claimed to have lost almost $24 million, but was suing the firm