Trump Targets Banks Over Crypto Bias, Kiyosaki Slams "Marxist Fed" Amid BTC Boom

President Donald Trump's White House is reportedly preparing an executive order to impose penalties on banks accused of discriminating against conservatives and cryptocurrency firms. Robert Kiyosaki predicts the dissolution of the Federal Reserve due to Trump's dedication to making the US a global hub for cryptocurrency. Anthony Scaramucci endorses the Avalanche network, and Arthur Hayes anticipates a sharp correction in Bitcoin and Ethereum due to potential macroeconomic jitters.

The White House is reportedly preparing an executive order to penalize banks accused of discriminating against conservatives and cryptocurrency firms. This move comes amidst a broader push by the Trump administration to position the U.S. as a global hub for cryptocurrency. Meanwhile, prominent figures like Robert Kiyosaki and Anthony Scaramucci have shared their views on the potential implications of these developments.

Executive Order on Bank Discrimination

The executive order, which is still in draft form, aims to address concerns raised by crypto companies and conservative groups about unfair banking practices. The order reportedly targets banks that have closed accounts or restricted services for these groups without justification. This move is seen as a continuation of the Trump administration's efforts to support the cryptocurrency industry, which has faced challenges from traditional banking institutions [1].

Kiyosaki's Prediction on Federal Reserve

Robert Kiyosaki, a well-known financial author and investor, has predicted that the dissolution of the Federal Reserve could be on the horizon. Kiyosaki argues that President Trump's commitment to making the U.S. the global hub for cryptocurrency could lead to the Federal Reserve's demise. However, it is important to note that the Federal Reserve Act requires removal only "for cause," a criterion that does not encompass policy disputes and has never been challenged in court [2].

Scaramucci's Endorsement of Avalanche

Anthony Scaramucci, a former White House communications director, has endorsed the Avalanche network, a blockchain platform known for its high throughput and low transaction costs. Scaramucci's endorsement highlights the growing interest in alternative cryptocurrencies and blockchain technologies [3].

Hayes' Prediction on Bitcoin and Ethereum

Arthur Hayes, the Chief Investment Officer of Maelstrom and co-founder of BitMEX, has predicted a sharp correction in Bitcoin (BTC/USD) and Ethereum (ETH/USD) due to potential macroeconomic jitters. Hayes cited a speculated U.S. tariff bill in the third quarter and the release of lower-than-expected July jobs data as factors that could exert increased macroeconomic pressure [4].

Conclusion

The Trump administration's executive order to penalize banks accused of discriminating against conservatives and cryptocurrency firms is part of a broader strategy to support the cryptocurrency industry. While the future of the Federal Reserve remains uncertain, predictions from figures like Robert Kiyosaki suggest that the shift towards digital currencies could have significant implications for traditional financial institutions. Meanwhile, endorsements like Scaramucci's for Avalanche and Hayes' predictions on Bitcoin and Ethereum highlight the dynamic and evolving nature of the cryptocurrency market.

References

[1] https://en.bitcoinsistemi.com/donald-trump-signs-another-crypto-friendly-executive-order/
[2] https://finance.yahoo.com/news/robert-kiyosaki-donald-trump-just-013123548.html
[3] https://www.benzinga.com/crypto/cryptocurrency/25/08/46817166/robert-kiyosaki-donald-trump-just-fired-the-marxist-fed-to-make-america-the-crypto-capital
[4] https://www.benzinga.com/crypto/cryptocurrency/25/08/46818995/arthur-hayes-expects-bitcoins-pullback-to-100000-ethereum-to-test-3000-on-trump-tariffs-induced-headwinds