Senator Kelly Loeffler, the former CEO of Bitcoin futures exchange Bakkt, has joined President Trump's controversial committee to reopen the economy. But the move has been met with resistance.
The crypto evangelist turned US senator found herself embroiled in accusations of insider trading in March, after dumping millions in stocks following a private coronavirus briefing. She was subsequently moved to liquidate the majority of her shares to avoid being ousted from government.
Now, she's back—and set to make key decisions on the revival of the US economy.
Crypto economy surprisingly resilient to Coronavirus crisis
A record 6.65 million people filed for unemployment benefits in the United States last week. It’s a similar story across the globe. But the crypto industry is an outlier, and is proving remarkably resistant to the economic fallout of the covid-19 pandemic. So how do we explain crypto’s resilience in the face of prevailing trends? Where other sectors are faltering, crypto exchanges Coinbase, Kraken and Binance have gone on hiring sprees; crypto-related jobs on Linkedin have seen a continued uptic...
"Thank you, @realDonaldTrump for appointing me to your task force on reopening America safely in the wake of COVID19.” Loeffler Tweeted. "With 22 million Americans filing for unemployment, it's clear we must start working to revive our economy and get the American people back to work safely."
Rupublican senator David Perdue has also joined the committee. According to reports, he purchased stock in a personal protective equipment (PPE) manufacturer before the coronavirus became widespread in the US.
Coronavirus stimulus checks are going on guns, tigers—and Bitcoin
Coronavirus stimulus checks are finally arriving and along with them come stories of frivolous—and not so frivolous—purchases of tigers, guns, and of course, Bitcoin. Just under a month ago, the US government struck a deal on a $2 trillion stimulus package to curb the coronavirus crisis. The package set aside $1,200 for every lower/middle-income American adult, and the first batches have arrived. So what have Americans been spending their government money on? Some people are using their coronavi...
Questions have been raised over whether Trump has the power to reopen the economy. When asked this question, he replied, “Well, I have the ultimate authority.” The New York Times argues that this is false, since he can’t override governors and it doesn’t have backing from the constitution.
But with a committee of 200 people, the chances that they actually come to a decision are slim.
