US senators have proposed banning elected officials and the president from issuing or sponsoring personal tokens.
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Trump: Major victory in the Supreme Court, president has the power to dismiss executive officials
BlockBeats reported on June 29 that US President Trump posted: "We just achieved a major victory in the Supreme Court case of Slaughter. The Court affirmed that, under Article II of the United States Constitution, the President has the power to remove officials of the executive branch and of any official appointed or represented by an executive agency. This ruling is the result of a long-sought-after decision by every US President since the 1930s. I am deeply honored to have won this historic and unprecedented ruling as the incumbent president. This is one of the most important rulings concerning presidential power." Previously, the US Supreme Court ruled 5-4 to allow Federal Reserve Governor Lisa Cook to remain in her position temporarily, and the dispute over her removal from office with President Donald Trump will continue to be resolved through legal proceedings.
US media reveals inside story of the US-Iran ceasefire agreement: The Iranian president and central bank governor jointly urged the Supreme Leader to "sign it quickly."
According to a report by The New York Times on July 4th, citing four officials familiar with the details of the meeting, Iranian President Pezechzian visited Supreme Leader Mojtaba Khamenei during the final stages of negotiations when Khamenei hesitated to approve the preliminary ceasefire agreement. The Iranian president told the Supreme Leader that the economic situation was dire, the US naval blockade was strangling Iran, and he would resign if he rejected the agreement. Furthermore, the Governor of the Central Bank of Iran, Abdulnaser Hemmati, also wrote to Khamenei, stating that the country faced a severe budget crisis and that critical food and medical supplies would run out by the end of August if the naval blockade continued. Hemmati explained in the letter that Iran could not sell oil on the required scale or find alternative trade routes. These statements played a crucial role in Mojtaba's eventual decision to support the agreement. In a brief public statement, he stated that although he opposed the agreement "in principle," he instructed the president to proceed if he obtained the support of the Supreme National Security Council. Pezechzian stated that the council approved the agreement by 12 out of 13 votes.
Lenovo's Amu first proposed the "three laws" of the token economy.
Mars Finance reported on July 3rd that Abulikemu (Amu), Vice President and Chief Strategy Officer of Lenovo Group China, recently proposed three "laws" of the token economy at a salon. The first is the "Law of Inertia," which states the inevitability of a continuous decline in the cost per unit of token. Amu pointed out that due to three factors—innovation in chip/energy/model-based technologies, the integration and optimization of analog-computing-electronics integration, and token scheduling in operation—the cost per unit of token will continue to decrease naturally. The second is the "Law of Acceleration," which states that the value per unit is released at an accelerated pace with the depth of application. Amu emphasized the concept of "effective tokens," believing that the value of AI depends not only on the model but also on three factors: carbon-silicon fusion density, Harness engineering depth, and the degree of AI governance and supporting infrastructure. The third is the "Law of Singularity," which reveals the dynamic inflection point where the total cost and total value of tokens reverse. Amu presciently pointed out that as enterprise usage increases, the total cost of tokens will inevitably rise, while simultaneously, the value embodied by AI agents will also rise and be released. When the curves of total token cost and total token value intersect, it will be the moment of a major explosion in AI value. (Wide Angle Observation)
Bitcoin absorbs Fed rate hike as officials see more tightening
Bitcoin showed little immediate reaction to the Fed’s first rate increase since 2023, but 16 of 18 officials expect at least one more hike before the end of the year.
Former SEC, CFTC Officials Urge Lighter Touch to Bring Crypto Perps Trading Onshore
With the Clarity Act stuck in recess limbo, the agencies are pressing ahead on crypto derivatives and custody, as former officials warn that overly burdensome rules will keep a $90 trillion perps market offshore.
California Senate passes bill to ban memecoin issuance by public officials
The bill seeks to prohibit the listing of memecoins issued by federal public officials to California residents, citing conflicts of interest and “pay-to-play arrangements.”