1/ Operation Choke Point 2.0 has entered the mainstream discussion and as the former CTO of Silvergate, I want to provide my personal view
First, the Silvergate SEN network was a core piece of infrastructure in the cryptocurrency economy
As someone who was there when it launched, I can't express how watching its influence disappear overnight impacted my family and myself
My father, Alan Lane was the CEO of Silvergate. It was sometime in early 2023 that I realized Silvergate, the business I poured my life into for 13 years was going to die
This is clearly absurd. If a plaintiff w 9 shares that actually made money (no harm) can lead to a $345mm legal fee, every company in Delaware is at risk and will be targeted. Everyone should change domicile as soon as possible. Takes derivative suits into a whole new plane.
What I Read This Week…
Elon and Vivek shared their plans to reduce the size and scope of the U.S. federal bureaucracy.
Their plan focuses on five main areas.
First, they aim to remove regulations that Congress never explicitly authorized, using recent Supreme Court decisions as legal backing.
Second, they plan to cut the number of federal workers through workforce reductions, bypassing civil service protections by using existing "reduction in force" authorities rather than targeting specific employees.
Third, they will stop federal spending that wasn't authorized by Congress, which they estimate exceeds $500 billion per year.
Fourth, they intend to improve cost efficiency in government procurement by conducting large-scale audits of old contracts.
Fifth, they plan to address waste at the Department of Defense, which has a budget of more than $800 billion and has failed its seventh consecutive audit.
They plan to make these changes using presidential powers granted under existing legislation rather than trying to pass new laws through Congress, with a goal to complete this overhaul by July 4, 2026.
Slowly but surely, the picture is becoming clear. After we sued, @FDICgov finally started giving us information related to our FOIA request about the pause letters it sent to financial institutions as part of Operation Chokepoint 2.0. In short, the contents are a shameful example of a government agency trying to cut off financial access to law-abiding American companies. 1/3
VeChain (VET) and VeThor (VTHO) are now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. https://t.co/676miKRrfh
Important action you can take to protect the value of your crypto in America:
Today, two House committees started voting to take an important step on legislation that will create regulatory clarity for crypto. They will continue tomorrow. The bill will evolve during the legislative process, but a vote today for the Financial Innovation and Technology for the 21 Century Act is a vote to protect your crypto, American innovation, and national security. Click below to email your Reps today to urge them to vote “yes” this week on FIT21. https://t.co/Es2wffIkct
NEWS 🚨: U.S. Space Command has confirmed that fragments of an interstellar meteor have been recovered in the Pacific Ocean
This is the first time humans have come in contact with something from another Solar System 😳
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From sleek hover cars to mind-blowing space cruisers, the possibilities are endless. 🤩
Join our Whitelist to see more 👉🏻 https://t.co/6lZgWdLznC
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Join our Whitelist to see more 👉🏻 https://t.co/6lZgWdLznC
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