Latest news with #BitwiseETF
Yahoo
24-04-2025
- Business
- Yahoo
Senator and Ex-Bridgewater CEO McCormick Invests More in Bitcoin as Bill in Works
U.S. Senator Dave McCormick, the former chief executive of massive hedge fund Bridgewater Associates, is putting his own cash into bitcoin (BTC) as the committee he's on is at the tip of the spear for a legislative effort to regulate the digital assets industry. McCormick has made repeated recent investments in the Bitwise Bitcoin ETF worth hundreds of thousands of dollars, according to disclosures this week. Because of the ranges used in such lawmaker disclosures, the latest amounts invested last month can only be said to be between $310,000 and $700,000. The new investment follows McCormick's disclosure of as much as $450,000 in the Bitwise ETF in February, potentially bringing his total investment closer to a million. His investments represent the bulk of bitcoin investing in Congress this year. Representative Marjorie Taylor Greene, a Georgia Republican, invested a much smaller amount, favoring BlackRock's iShares Bitcoin Trust (IBIT). The Republican senator from Pennsylvania, who has held a series of high-profile government posts throughout his career, is new to the Senate and was put on the Senate Banking's Committee's subcommittee that deals with digital assets. That's the group of lawmakers likely closest to the coming action on crypto legislation that's expected to move this year. As a Senate candidate last year, the former hedge fund exec argued America needed to lead on crypto. He said during the subcommittee's first digital assets hearing in February, "This Congress must work alongside President Trump to pass bipartisan digital asset legislation that will guide the future of innovation and secure a robust economic future for the U.S." While his bitcoin stake is outpacing other lawmakers, he's been putting the bulk of his investments in municipal securities in recent months, the disclosures in to access your portfolio
Yahoo
03-03-2025
- Business
- Yahoo
Trump's New Crypto Reserve Is Already Making the Worst Person Richer
On Sunday, President Trump announced his plans for a U.S. 'crypto strategic reserve,' stating that he'd make the country the 'Crypto Capital of the World.' But a closer look reveals the reserve may be nothing but a blatant insider trading scam to make his billionaire crypto czar richer—funded by taxpayer money. Trump announced that he plans to add five cryptocurrencies to the strategic reserve: Bitcoin, Ethereum, XRP, Solana, and Cardano. Not so coincidentally, his crypto czar David Sacks has a venture firm linked to Bitwise Invests, one of the biggest crypto index fund providers. Bitwise holds significant amounts of the very same cryptocurrencies. Sacks promised that he sold his personal, direct holdings, but made no mention of his multiple indirect holdings. If this wasn't enough, just a few hours before Trump's announcement, someone bought $200 million in Ethereum and Bitcoin, raising the question of who may have known about the plan ahead of time. Sacks, for his part, has denied the claims of his indirect holdings, instead insisting that they are a farce. 'I had a $74k position in the Bitwise ETF which I sold on January 22. I do not have 'large indirect holdings,'' Sacks said. 'I'll provide an update at the end of the ethics process.' Sacks is set to chair a first annual crypto summit at the White House on Friday.
