📌 TOPINDIATOURS Eksklusif crypto: Tether Co-Founder Just Made The Worst Crypto Don

Brock Pierce, Tether co-founder and eccentric Bitcoin billionaire, just hosted a strange press conference in defense of New York mayor Eric Adams. Pierce gave Adams over $1 million less than a week before he dropped out of the race.

This press conference featured harebrained electoral schemes, veiled threats to Adams’ advisors, and other such whimsical asides. Crypto’s oddball personalities haven’t left the space yet.

Bitcoin’s Eccentric Billionaires

Brock Pierce first came to prominence as a child actor, but his early investment in crypto brought lingering success after he quit acting at age 16.

A lifelong interest in tech made him the erstwhile co-founder of firms such as Tether and Blockchain Capital, which made Pierce a certifiable Bitcoin billionaire.

Still, this early success hasn’t always led to sound investments or rational behavior. Case in point, Pierce was one of the Bitcoin billionaires who donated to Eric Adams, the NYC mayor and crypto candidate.

Unfortunately for Pierce, Adams dropped out last Sunday, making his recent $1 million donation totally pointless.

In response, the Tether co-founder decided to host a bizarre press conference:

Strange Demands and Future Plans

Pierce claimed that he was going to launch a “Draft Eric Back” movement, refusing offers to get his donation back. He was apparently “shocked by the blindness of this city” when he heard that Adams conceded his defeat.

Although many Bitcoin enthusiasts are bullish about Zohran Mamdani’s campaign, this billionaire wants to see him defeated. Pierce urged Adams, Andrew Cuomo, and Curtis Sliwa to work together for this purpose.

He also went on a tirade about Frank Carone, Adams’ former chief of staff and top advisor. Pierce called him a “rat” who “sabotaged [Adams’s] campaign,” claiming that the Bitcoin billionaire has a responsibility to “clean up the trash.”

“I had no idea who this man was until yesterday. I’ve never spoken to or met him, he had zero role in our campaign. [He] has no idea what those of us who worked their hearts out for the mayor and this City, did or didn’t do,” Carone said in response to these provocative statements.

Past Flirtations With Politics

Bitcoin may be pursuing a new clean-cut image with its TradFi inflows and political power, but eccentric billionaires like Pierce can still remind us of the industry’s early antics.

He ran a protest campaign for President in 2020, claiming that he was “shooting for bronze.” In other words, he aimed to increase crypto’s presence, not actually win.

As a personal anecdote, this writer personally encountered two of Pierce’s volunteers shortly before casting a ballot in that election.

They asked if I was familiar with him or his platform, which I was, being an active crypto journalist at the time. Suffice it to say, I did not vote for him.

Clearly, the man still has an interest in politics five years later. It seems highly unlikely that this Bitcoin billionaire will halt Zohran Mamdani’s rise to Gracie Mansion, but his antics continue to amuse all the same.

The post Tether Co-Founder Just Made The Worst Crypto Donation Of The Year appeared first on BeInCrypto.

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📌 TOPINDIATOURS Eksklusif crypto: US Regulators Probe 200+ Firms Over Unusual Trad

US regulators are reportedly probing more than 200 firms with crypto treasuries over insider trading.

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) raised concerns after observing unusually high trading volumes and sharp stock-price gains in the days before the companies’ announcements.

A Regulatory Sweep

Recent reports revealed that federal regulators are now scrutinizing over 200 companies that have adopted crypto purchases as a core corporate strategy, facing allegations of insider trading.

Although the specific names of the firms weren’t disclosed, the news surfaced as more corporations adopt an aggressive, MicroStrategy-inspired playbook for crypto accumulation. The SEC reportedly launched these investigations after observing notable trading volume and stock price surges just before the public announcements. 

To follow up on this, the regulator warned the firms, specifically cautioning them against violating Regulation Fair Disclosure. This rule forbids sharing nonpublic information selectively with certain investors who might use it for trading.

When companies privately fund large cryptocurrency purchases by engaging outside investors, they require these investors to sign non-disclosure agreements. However, sharp spikes in the company’s stock price immediately before the public announcement suggest this confidentiality was broken. 

The Corporate Crypto Playbook

CoinGecko data shows that 108 companies currently own Bitcoin. However, these corporate treasuries have expanded beyond Bitcoin to include altcoins such as Ethereum, Solana, and Litecoin in recent months.

Many companies use a “flywheel” strategy by privately raising capital via debt and equity to finance massive crypto purchases. Because these financing and purchasing plans are highly sensitive and nonpublic, any premature disclosure provides a major trading advantage. 

The flywheel model uses capital—frequently raised through cheap debt like convertible bonds—to buy large amounts of crypto. This boosts the company’s stock price because investors treat the shares as a magnified way to bet on the crypto’s rising value.

This higher stock price, in turn, allows the company to raise more capital for the next round of crypto buying, creating a high-leverage feedback loop. Any leak about an imminent capital raise or purchase immediately affects this sensitive mechanism.

The post US Regulators Probe 200+ Firms Over Unusual Trading Ahead of Crypto-Treasury Deals appeared first on BeInCrypto.

🔗 Sumber: www.beincrypto.com