Latest news with #ProfessionalCapitalManagement
CNBC
21-05-2025
- Business
- CNBC
Anthony Pompliano on taking his SPAC public: Focused on buying a cash-flow positive business
Anthony Pompliano, Professional Capital Management CEO, and Brent Saunders, Bausch + Lomb chairman and CEO, joins 'Squawk Box' to discuss taking the blank check company ProCap Acquisition Corp public on the Nasdaq, what the purpose of this SPAC is, the issues surrounding SPACs, and more.
Int'l Business Times
02-05-2025
- Business
- Int'l Business Times
CIA Deputy Director Hints Agency Uses Bitcoin, Crypto As 'Tools' Against China, Other Adversaries
Ellis said the CIA has collaborated with law enforcement to try to track illicit crypto payments He also said Bitcoin and crypto have become 'another area of technological competition between the US and China He added that Bitcoin and other crypto are 'another tool in the toolbox' of the CIA Bitcoin and cryptocurrency have grown over the last decade from a niche segment into a global medium for various financial transactions and in what could be the most telling use case yet regarding the United States' embrace of crypto, a Central Intelligence Agency (CIA) top official hinted that the foreign intelligence agency also uses BTC and other crypto. CIA Deputy Director Michael Ellis said in a Thursday podcast with Professional Capital Management CEO Anthony Pompliano that the CIA uses Bitcoin and crypto as a "tool." Bitcoin's Transition from Criminal Use to Intelligence Tool In the podcast, Pompliano asked Ellis how the CIA views Bitcoin, given how American law enforcement appears to be "excited" about potentially using the world's largest crypto asset to track criminal activity. Ellis said the CIA sees the development "just as law enforcement" does, further explaining that people who first encountered BTC may have thought that the digital asset is a tool for anonymity. However, he noted that instead of being anonymous, Bitcoin "is pseudonymous," so it can still be tracked. He revealed that the CIA has worked with law enforcement to track "illicit crypto payments by bad actors." Ellis Says Bitcoin is a 'Competition' Field Ellis, who previously served as a senior national security official, is "another area of technological competition" where the U.S. obviously doesn't want to become a laggard in. He specifically noted that the White House under President Donald Trump needs to make sure the U.S. doesn't lag behind China and other adversaries in the technology field. For Ellis, cryptocurrency has "a lot of potential" to be utilized by law enforcement and intelligence teams to "track what our adversaries are doing and disrupt it." Pompliano agreed that Bitcoin and crypto have been criticized as tools for "bad people," but he said these emerging assets can also be tools for "good people." Ellis agreed, noting that the CIA uses technology as a tool, and that "Bitcoin and other cryptocurrencies are another tool in the toolbox" that the agency can deploy to disrupt its use by U.S. adversaries. Bitcoin Isn't Going Anywhere: Ellis While some politicians appear to still be wary of Bitcoin and crypto, citing risks around security, data privacy, national security, and more, Ellis believes recent trends around adoption solidify Bitcoin's place in the financial realm. "Bitcoin is here to stay. Cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that's a great trend," he said. His comments are backed by current developments not just in the United States but also around the world, including Panama City's recent move to push Panama's largest city toward leading the Bitcoin and Ethereum race. In the U.S., President Trump has also ordered the establishment of a strategic BTC reserve and a digital assets stockpile that could further encourage adoption across the country.
Yahoo
05-04-2025
- Business
- Yahoo
Anthony Pompliano Praises Trump's Tariffs As Catalyst For Crypto Innovation
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Founder & CEO of Professional Capital Management, has praised the new tariffs introduced by President Donald Trump on Wednesday, arguing that they highlight the inefficiencies of traditional financial systems and bolster the case for decentralized finance solutions like Bitcoin (CRYPTO: BTC). What Happened: Speaking on a podcast, Pompliano linked the tariffs to broader economic shifts, while the crypto market faced significant declines amid fears of a global trade war sparked by the new policy. Pompliano emphasized that the tariffs underscore the vulnerabilities of centralized banking systems, which he claims have been weaponized against businesses for political reasons. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.26/share with a $1000 minimum. Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.55 per share. He recounted the Trump family's experience with banks like Capital One, Chase, Bank of America and First Republic, which canceled their accounts during Donald Trump's presidency, a move he described as "political lawfare." This experience, shared by Eric Trump on the same broadcast, drove the family to embrace cryptocurrency. "I realized the power that these banks had, and I realized how they were exerting that power, and they were canceling businesses all over our country," Eric Trump said, explaining his shift toward crypto. The tariffs, unveiled by Trump in a White House Rose Garden ceremony, impose a "reciprocal tariff rate" set at 50% of what trading partners charge the U.S., targeting countries like Vietnam, Cambodia and Sri Lanka with the steepest increases, while sparing Canada and Mexico. Trump called the move "our Declaration of Economic Independence," stating, "April 2nd will forever be remembered as the day American industry was reborn." However, the announcement triggered a sharp decline in crypto markets on Wednesday, with Bitcoin plunging to $82,400 levels from its all-time high of $108,786. Major altcoins like Solana (CRYPTO: SOL), BNB (CRYPTO: BNB) and Dogecoin (CRYPTO: DOGE) also traded down 8-10% after the It Matters: Despite the market downturn, Pompliano sees the tariffs as a validation of crypto's potential to address systemic financial issues. He argued that blockchain technology offers a more efficient alternative to traditional banking, which he criticized for its outdated practices. "There's not a single thing that those banks do that can't be done better, cheaper, more efficiently, faster on blockchain," Pompliano stated, highlighting Bitcoin's role as a store of value and a hedge against real estate. The broader economic context also includes concerns about the rising costs of materials for AI data centers, as noted by Tory Green, CEO of a global GPU-power aggregator. Green dismissed concerns about rising costs for AI infrastructure caused by tariffs. Instead, he argued that the U.S. should prioritize tapping into idle computing resources rather than building new data centers. "We're significantly underutilizing the resources we already have," Green said. "The real problem isn't cost—it's inefficiency. We don't need more concrete; we need better connectivity." Green pointed to benchmarks showing that idle computers still consume up to 60% of the energy used by public cloud systems, and cited a recent MIT Technology Review report showing that 80% of China's AI data centers currently sit idle. Meanwhile, the Trump family has deepened its involvement in the crypto space, with Eric Trump and Donald Trump Jr. announcing their investment in a Bitcoin mining company, American Bitcoin, which aims to merge with Trumps American Data Centers to become the world's largest crypto miner and establish its own Bitcoin reserve. Eric Trump also highlighted the success of their venture, World Liberty Financial, which recently launched a stablecoin, reflecting their belief in crypto's transformative potential for the U.S. economy. Read Next: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share! Image: Shutterstock Send To MSN: Send to MSN This article Anthony Pompliano Praises Trump's Tariffs As Catalyst For Crypto Innovation originally appeared on
Fox News
06-03-2025
- Entertainment
- Fox News
Anthony Pompliano & Jennifer Sey: Breaking Down President Trump's Economic Plan & Defending Women's Sports
Story #1: Will & The Crew discuss some hysterical clips that show the Democrats are clueless about their future. Also, is California Governor Gavin Newsom (D-CA) making a strategic shift further to the right? Story #2: Will President Donald Trump's economic plan work out? What is really going on with the tariffs? A conversation with the Host of 'From the Desk of Anthony Pompliano' & Founder & CEO of Professional Capital Management, Anthony Pompliano. Story #3: Inside the pushback for defending women's sports with former Levi's President, Founder & CEO of XX-XY Athletics & Author of 'Levi's Unbuttoned' & 'Chalked Up', Jennifer Sey. Tell Will what you thought about this podcast by emailing WillCainShow@ Subscribe to The Will Cain Show on YouTube here: Watch The Will Cain Show! Follow Will on Twitter: @WillCain Learn more about your ad choices. Visit
Yahoo
05-03-2025
- Business
- Yahoo
Trump divides crypto world with plans for strategic reserve
President Trump's plan for a strategic crypto reserve has stirred mixed feelings within the cryptocurrency industry. The digital assets space has largely welcomed Trump's mission to boost the industry, which faced heavy regulatory scrutiny under the Biden administration. But his recent announcement to form a cryptocurrency reserve with assets other than bitcoin — the most valuable cryptocurrency — surprised even those who could benefit from the plan. Anthony Pompliano, founder and CEO of investment firm Professional Capital Management, called the suggested plan an 'unforced error that will be regretted in the future.' Pompliano noted in a lengthy blog post that his criticism comes even as 'someone who stands to substantially benefit financially' from Trump's announcement. Trump on Sunday offered new details about a crypto reserve, writing online that it will 'elevate this industry after years of corrupt attacks by the Biden administration.' 'Which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL [Solana] and ADA [Cardano],' Trump wrote on Truth Social. Online users were quick to point out his post made no mention of bitcoin, despite a pledge he made last July to create a strategic bitcoin reserve. The president clarified a few minutes later and wrote, 'And, obviously BTC [bitcoin] and ETH [Ethereum], as other valuable cryptocurrencies, will be at the heart of the Reserve.' 'I also love Bitcoin and Ethereum!' Trump added. Trump did not explain how the reserve would work, though crypto experts told The Hill it could happen either by using assets seized by federal law enforcement while disrupting financial crimes — as Trump's crypto executive order suggests — or by having the U.S. government buy the assets on the open market. 'The United States is not in the business of buying stocks or other investment assets,' Pompliano argued. 'The U.S. has strategic reserves of assets like gold, oil, cheese and other assets that are important to the strength of our balance sheet or have national importance.' 'Crypto tokens like ETH, SOL, XRP and ADA don't fit that framework,' he continued, suggesting the tokens are more like technology stocks rather than natural commodities or hard money. Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, echoed the sentiment against any reserve that includes currencies other than bitcoin. The brothers each donated $1 million in bitcoin to Trump's reelection campaign due to his support for the industry. Tyler Winklevoss said on Monday bitcoin is the only digital asset in the world that currently meets the bar for a strategic reserve, writing an 'asset needs to be hard money that is a proven value like gold.' Cameron Winklevoss also advocated for a bitcoin reserve, calling it a 'must.' 'Like rare earth minerals, gold, oil, etc., any country needs to stockpile these resources to increase self-sufficiency and reduce leverage of its adversaries,' Cameron Winklevoss wrote. 'Stockpiling sooner rather than later and before other countries is much better in terms of the price you pay.' Coinbase CEO Brian Armstrong added he believes bitcoin would 'probably be the best option,' writing, 'simplest and clear story as successor to gold.' Still, some industry players oppose a crypto reserve of any kind. 'Crypto doesn't fall into the category for the well-being of the American citizen,' said Nic Carter, a founding partner at crypto investment firm Castle Island Ventures. 'We don't need bitcoin or any other crypto asset to trade at any specific price and we don't have liabilities denominating those assets nor would it be difficult to acquire them if for some reason, we needed to extinguish such a liability.' 'I don't understand how there's any strategic purpose of these,' he added. While he does not believe the goal of a reserve is to build a new gold standard built on bitcoin as the underlying asset, Carter warned this would be 'tremendously disruptive to the nature of the dollar.' 'I don't see why we would disrupt ourselves, I think it throws global markets into upheaval again,' Carter said. The debate is setting the stage for one of the first notable disagreements between the Trump administration and crypto industry as questions swirl over the specifics of the plan. Amid blowback online, Trump's artificial intelligence (AI) and crypto czar David Sacks has acted as the primary spokesperson for this plan. 'Taxation is theft,' Joe Lonsdale, founder of the venture firm 8VC and known Trump supporter, wrote in a post on the social platform X. 'It should be kept to a minimum. It's wrong to steal my money for grift on the left; it's also wrong to tax me for crypto bro schemes.' Sacks snapped back at Lonsdale, writing, 'Nobody announced a tax or a spending program. Maybe you should wait to find out what's actually being proposed.' The White House is expected to host a cryptocurrency summit involving industry figures Friday, during which details about the plan and the administration's other crypto-oriented efforts may be announced It is not clear how taxpayers could be impacted, but some observers suggested the prospect contradicts Trump's other efforts to cut down on government spending and bureaucracy. 'It's extremely politically imprudent to use those newly freed up funds to purchase crypto,' Carter said. 'It'll be seen as a bailout to already affluent crypto holders. And more than that, it'll be seen as a pay-to-play for wealthy crypto entrepreneurs that maybe donated to Trump and helped him get elected. And then in return, are getting their assets included in the reserve.' This could make matters more complicated for industry figures like Cardano founder Charles Hoskinson, who revealed late last year that Ripple made a $5 million XRP pledge to Trump's inaugural committee. Hoskinson backed Trump's talk of adding XRP to the reserve, calling the digital asset a 'great technology' and a 'global standard.' Sacks, a general partner at venture capital firm Craft Ventures, is already facing allegations of a potential conflict of interest in the wake of the reserve announcement. The AI and crypto czar maintains he sold all his personal cryptocurrency holdings ahead of the start of the second Trump administration. Holdouts in the crypto community may change their minds if a reserve is pursued through Congress. Sen. Cynthia Lummis (R-Wyo.) introduced a bill last session proposing that the U.S. purchase crypto assets and hold it as a reserve. 'It'd be far more politically acceptable, both to folks in crypto and Americans in general, if it were done in a democratic way with congressional authorization,' Carter said, noting opinions across the industry still vary. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
