Bitcoin dropped below $55k today, and a few significant events might be influencing its value.
First, Ripple's co-founder Chris Larsen endorsed Kamala Harris for president, along with other corporate leaders. Ripple's close ties with traditional banks raise concerns about centralization, which could be seen as a negative by those who value decentralization in crypto.
Second, Telegram founder Pavel Durov made his first public statement after being arrested in France. He emphasized free speech and hinted that Telegram might leave jurisdictions that conflict with its values.
Finally, Kamala Harris' campaign began accepting crypto donations via the Future Forward Super PAC, using Coinbase Commerce to facilitate contributions. This shows the growing role of crypto in politics, but it also highlights potential tensions between decentralization ideals and political influences.
These events underscore how deeply blockchain is becoming entangled with global politics. This intersection of valuesâfreedom, decentralization, and political involvementâmay indeed be unsettling for some investors, potentially contributing to Bitcoin's recent drop.
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