Monthly Archives: May 2024

Democrats See Wins in Losing Votes – The New York Times

Posted: May 23, 2024 at 7:52 am

In losing big votes, Senator Chuck Schumer, the New York Democrat and majority leader, believes his party stands to win.

Despite certain defeat, Mr. Schumer has scheduled a floor vote for Thursday on a bipartisan border security measure that collapsed almost as soon as it was made public in February, when Donald J. Trump torpedoed it as lunacy and a gift to Democrats.

Mr. Schumer sees his maneuver as a way to remind voters upset about chaos at the southern border that it is Republicans who are blocking a solution, even after they reached a deal with Democrats that could solve the problem. He insists that the potential political benefits to Democratic candidates in tough races in Ohio, Montana and elsewhere are merely a bonus.

Its good for the country, Mr. Schumer said in an interview, about the legislation. But obviously, look, if it has electoral consequences, so be it.

With most of the heavy legislative lifting done for the year and the election that will decide control of Congress fast approaching, Senate Democrats are turning to the electoral consequences part of their agenda, and messaging votes will be a regular feature. Mr. Schumer, who has long played a central role in mapping his partys political strategy, has a two-pronged plan that will unfold in the coming weeks with a focus on abortion rights and border security.

In the next two months, Mr. Schumer said, we have a sword and shield.

The sword is abortion rights, an issue where Democrats firmly believe and polls confirm they have the upper hand with voters following the Supreme Court ruling that overturned Roe v. Wade.

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Why is Trump rallying in the heavily Democratic Bronx? – Spectrum News NY1

Posted: at 7:52 am

Donald Trump is scheduled to rally in one of the most heavily Democratic counties in the country, set to take the stage Thursday evening in the Bronx.

A Trump campaign spokesperson says to expect the former president and GOP nominee to rail against Joe Biden, inflation and the surge of asylum seekers into New York when he takes the stage in Crotona Park.

President Trump is going to speak directly to locals in the Bronx, in the borough about how their lives have worsened under Joe Biden's policies, particularly Bidenomics, which has led to the highest inflation in a generation, Karoline Leavitt, the campaigns national press secretary, told Spectrum News NY1.

But why go to the Bronx?

Why not? Leavitt said. President Trump is unafraid to bring his message to every borough of New York, to every corner of this great country because he believes his message is a winning one.

Trump won less than 10% of the vote in the borough eight years ago, and inched up to just 16% in 2020.

However, according to polls, Trump has been making some inroads this year with groups that form the majority of Bronx voters: Black and Latino Americans.

Clearly there's an opportunity for Trump to try to get support from some of those voters, Don Levy, director of the Siena College Research Institute, said.

Bronx Congressman Ritchie Torres, a Democrat, says he is appalled that the former president has decided to campaign in the borough.

Donald Trump's mismanagement of COVID was catastrophic for the Bronx. The Bronx was the epicenter, Torres said.

By contrast, he argues Biden has actually put in the work that will help his community. He notes, for example, Bidens efforts to cap the price of insulin a potential game-changer, he says, in a borough with one of the highest rates of diabetes in the country.

The only place in the Bronx where Donald Trump has any place being is Bronx Criminal Court on 161st Street and the Grand Concourse, Torres said.

No one expects Trump to win the Bronx or New York state writ large.

However, winning more Black and Latino voters nationally could be the difference in a close race. Trumps outreach to those voters could also force Biden to spend more time and money trying to maintain a key part of his political base.

Protesters and a counter-rally are expected to greet Trump Thursday evening.

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Bynum’s primary win boosts Democrats’ chances to flip Oregon seat – Roll Call

Posted: at 7:52 am

ANALYSIS Democratic strategists scored a big primary victory in Oregon on Tuesday in whats close to a must-win district in November.

State Rep. Janelle Bynum defeated 2022 nominee Jamie McLeod-Skinner 69 percent to 31 percent, with 74 percent of the estimated vote counted, in the Democratic primary in Oregons 5th District.

It was very, very, very important, former Democratic Rep. Kurt Schrader said about the primary result. It gives Democrats a chance of winning the 5th District of Oregon back.

The Democratic establishments in D.C. and the Beaver State lost faith in McLeod-Skinner after she knocked off Schrader in the 2022 primary and subsequently lost to Republican Lori Chavez-DeRemer in the general election. So they rallied behind Bynum to keep McLeod-Skinner from becoming the nominee once again.

It appears that Republicans understood the importance of the primary as well after an outside group with connections to GOP operatives spent $550,000 on TV ads, attempting to boost McLeod-Skinner.

Democratic voters finally woke up and figured out winning was important. And they figured out Janelle was the best person to take on DeRemer, Schrader said in an interview Tuesday night.

Democratic strategists convinced themselves that McLeod-Skinners liberal reputation was a certain loser in the swing district, and they fell in love with Bynums electoral track record. She defeated Chavez-DeRemer in state legislative elections in 2016 and 2018.

Oregons 5th District stretches from the Portland suburbs and part of the Willamette Valley east of Interstate 5, across the mountains to include some of fast-growing central Oregon. President Joe Biden won the district with 53 percent in 2020, and Republican Christine Drazan won it with 47 percent in the 2022 gubernatorial election. Now, its one of the 10 districts rated as a Toss-up by Inside Elections.

Democrats need a net gain of four seats nationwide to take the House majority and likely need to win nine of the 10 Toss-up races, including Oregons 5th, to reach their goal.

It wont be easy. Chavez-DeRemer had $1.9 million in her campaign account on May 1, and Democrats are shouldering the blame for crime and homelessness in nearby Portland. The Republican playbook focused on Bynums record in the state capital is not a surprise.

In Salem, Prison Break Bynum built an extensive record as an extremist hellbent on emptying prisons, decriminalizing fentanyl and unleashing criminals, National Republican Congressional Committee spokesman Ben Petersen said in a statement, telegraphing the GOP messaging over the next five months.

Schrader sees how Bynum can overcome it, however.

She has to tack back a little bit, portray herself not quite as left but more left of center like she is,Schrader said. She should play up her business credentials. And shell have to work hard to show shes not part of that Portland dysfunction.

Nathan L. Gonzales is an elections analyst with CQ Roll Call.

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Democrats refer ‘big oil’ investigation to Justice Department – Roll Call

Posted: at 7:52 am

Senate Budget Chairman Sheldon Whitehouse andHouse Oversight and Accountability ranking member Jamie Raskin on Wednesday referred their investigation into large oil and gas companies past knowledge about theclimate impacts of fossil fuels to the Justice Department.

In the referral,Raskin, D-Md., and Whitehouse, D-R.I., argue that the department should investigate four such companies BP America, Chevron Corp., ExxonMobil Corp. and Shell Oil Co. as well as the American Petroleum Institute and the U.S. Chamber of Commerce, for denialism and disinformation about the harm caused by use of their products.

The pairsaid they agreed with the May 1 testimony of Sharon Eubanks, former director of the Justice Departments tobacco litigation team, that there is adequate foundation for building a case against the oil industry.

Internal documents obtained in our investigation demonstrate that fossil fuel companies do not dispute any longer that they have known for more than 60 years that burning fossil fuels causes climate change, Raskin said. And yet theyve worked for decades to undermine public understanding of that fact and to deny and distort and misstate the underlying science.

Throughout the course of the investigation, which began in the House in 2021, the Democratic lawmakers have compared the actions taken by the oil companies and industry groups to those taken by tobacco companies to hide the harmful effects of cigarette smoking from the public.

The Justice Department and manystates pursued lawsuits over these actions, which required the tobacco companies to alter their business practices and pay out billions of dollars. Whitehouse made comparisons to the 2006 ruling where U.S. District Judge Gladys Kessler found that the tobacco companies violated civil racketeering laws.

Earlier this month the House Oversight Democrats and the Senate Budget Committee released a joint staff reportoutlining their findings.

The oil industry has consistently refuted Democratic lawmakers conclusions over the course of the investigation.

This is another unfounded political charade to distract from persistent inflation and Americas need for more energy, including oil and natural gas. U.S. energy workers are focused on delivering the reliable, affordable oil and natural gas Americans demand and any suggestion to the contrary is false, API spokesperson Andrea Woods said.

Raskin and Whitehouse said that Congress would still move forward with its investigation regardless of the Justice Departments decision. Whitehouse said he would continue to examine the issue through the Senate Budget Committee, and if the House returns to Democratic control Raskin would pursue full compliance with his committees previously issued subpoenas.

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Orangeburg County: Three Democrats running for coroner – The Times and Democrat

Posted: at 7:52 am

The three candidates in the primary race to become Orangeburg Countys next coroner all cite their experience, saying they will work to improve the office.

Orangeburg County Coroner Samuetta Marshall is not running for re-election.

Sean Fogle, Montez P.V. Haynes and Valencia Golden-Young will face each other in the June 11 Democratic primary.

No Republican filed for the seat.

Fogle has spent 20 years as a deputy coroner in the Orangeburg County Coroners Office, 13 of them as chief deputy coroner.

I am running because experience in this office is an absolute necessity to ensure Orangeburg County residents receive the dignity, respect and compassion they deserve in their most difficult time of need. I humbly offer my 20 years of experience as well as my commitment and professionalism, to all Orangeburg County residents. I am running to make a difference, the 50-year-old said.

This is his first time running for the coroners office, but his platform is clear.

My platform is education, collaboration and accreditation. I would like to provide the citizens of Orangeburg County with more information on what services the coroners office can provide, as well as provide resources and give information on, for example, what other options are available if they cant afford a funeral home, Fogle said.

He said he would also like to strengthen the relationship between the coroners office and the various agencies it works with. Fogle said he would also like to work more closely with schools and colleges on preparing students interested in forensic science, pathology and criminal justice.

I would finally like to see the coroners office become an accredited agency. The accreditation process provides the coroner and medical examiner offices the opportunity to self-assess and subsequently have auditors to review applicable standards. It allows coroner and medical examiner offices to ensure they are conducting business practices and procedures in compliance with established national standards, Fogle said.

He said accreditation also enables the office to receive grants and other resources to fund and staff the office, as well as get much-needed equipment to help in properly investigating cases.

Fogle said he has the most experience to do the job.

I feel like Ive already done what my opponents are not doing. I want the citizens of Orangeburg County to feel even during their most difficult time that they have a coroners office that took the time to answer their questions but, more importantly, listen to their concerns, he said.

Fogle continued, Regardless of what I have to do, I listen because in the end they feel better and thank me for taking that time with them. I feel better because I know I made things just a little bit easier for someone that day.

Fogle, who is single with no children, was born and raised in Holly Hill, where he currently lives.

The 1991 graduate of Holly Hill-Roberts High School went on to graduate from Gupton-Jones College of Funeral Service in Decatur, Georgia in 1993. He later attended Clayton State University in Morrow, Georgia with a major in computer networking technology.

Fogle is a member of the South Carolina Coroners Association and the International Association of Coroners and Medical Examiners.

He is also a member of First Providence Missionary Baptist Church in Santee and serves as minister of music at St. John Missionary Baptist Church in Ridgeville.

I have the proven leadership and the proven experience needed to move the office in the right direction, he said.

Haynes is an Orangeburg resident who currently works as a deputy coroner in the Bamberg County Coroners Office. He said he would like to move the Orangeburg office forward with new ideas.

I am running for office because ever since I was in high school, I have enjoyed helping people during their worst time of life, which is usually death. I currently work as a deputy coroner and would like to use my experience and education to help move Orangeburg County forward with good leadership, integrity and new ideas, the 39-year-old said.

This is Haynes first time running for the coroners office, but he said his goals for the office are in place.

I would like to hire and train qualified staff to meet the needs of Orangeburg County. With Orangeburg County being the second-largest county in South Carolina, it is essential that there is enough manpower. It is my plan that we can arrive to any area of the county within one hour, he said.

Haynes continued, This will also allow the staff to have the proper time to do investigations and answer questions of the family without having to rush. I would also like the coroners office and law enforcement to have a collaborative relationship to ensure that death investigations are handled properly and that the needs of the citizens are met through transparent communication.

He said he also seeks to have a presence in the community beyond his campaign for office.

I would like to be in the community outside of campaigning. The person selected as coroner is a community leader and should be seen in the community and not only when death occurs, Haynes said.

The Orangeburg native said he has the managerial experience to do the job, having managed several businesses in the county. He also serves as a minister and mens ministry leader at Life Cathedral Church in Orangeburg.

Haynes is a member of Kappa Alpha Psi Fraternity Inc., the Elks Lodge, the Rotary Club and the Bowman and Orangeburg chapters of the NAACP. He is also a member of the S.C. Coroners Association and the South Carolina Funeral Directors Association.

Married with two children, Haynes is a licensed insurance agent and funeral director and co-founder of Greater Orangeburg Funeral Home.

He has an associate degree in mortuary science from Piedmont Technical College and a bachelors degree in sociology from Claflin University. Haynes, a certified crematory operator, also earned a masters degree in chaplaincy from Columbia International University and an honorary Doctor of Arts degree in theology from the School of the Great Commission Bible College.

Haynes was also selected as the Orangeburg County Community of Character initiatives honoree for April for exemplifying selflessness.

Golden-Young began her service as a deputy coroner in the Orangeburg County Coroners Office in 2018. She said she realized that serving as coroner was her calling and purpose after her first year of service.

I started preparing myself. I started developing relationships with other agencies, educating myself with the laws and requirements of the coroners office and training, some of which I personally paid for out of pocket, she said.

I wanted to make sure I would be prepared to present the best me possible for the citizens of Orangeburg. ... This is my first time running for office, but I am prepared, Golden-Young said.

The 45-year-old said she doesnt take the concerns of Orangeburg County families and the offices supporting agencies lightly.

I will fill in the gaps between the coroners office and the community to ensure a solid foundation. I will make sure that resources are available to the communities at all times, not on a per-request basis, she said.

This would include having an advocate who can assist families with and provide the resources for organ and tissues donations, receiving personal effects, assistance with bringing a service member home and more, Golden-Young said.

Putting minimum standards in place for all cases, including toxicology and DNA cards and more is another of her goals.

I will make sure that all investigations have the resources needed to ensure an adequate response time. Once this foundation is solid, I will work toward having autopsies completed in Orangeburg County when possible and build toward national accreditation for the Orangeburg County Coroners Office, Golden-Young said.

She said she wants to continue to be a visible and approachable face in the community.

Golden-Young grew up in St. Matthews and currently resides in Holly Hill. She and her husband, Antoine, have three children: Joana Young, Dejah Hester and Jordan (Edwyn) Barnett. They are the grandparents of Jaxon Barrett.

The Calhoun County High School graduate is also a 2023 graduate of the Death Investigation Academy. She also received a scholarship from the National Association of Attorneys General in 2023 to receive National Center of Forensics training. Her training includes, but is not limited to, child fatality investigations training from the USC School of Laws Childrens Law Center.

As of May 2023, South Carolina coroners and deputy coroners are now first responders. I have since become CPR certified, Narcan certified and have become a member of the Community Emergence Response Team, she said.

Contact the writer: dgleaton@timesanddemocrat.com or 803-533-5534. Follow "Good News with Gleaton" on Twitter at @DionneTandD

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Ohio Democrats still trying to get Biden on ballot – 10TV

Posted: at 7:52 am

Republican House Speaker Jason Stephens says there won't be a legislative fix to the issue.

COLUMBUS, Ohio With less than six months until the 2024 presidential election, Ohio officials are continuing to troubleshoot how to get President Joe Biden on the state's ballot.

Democrats had three options to address the issue of Biden's name not being certified before Ohio's Aug. 7 deadline. But now, they are down to just two options.

Republican House Speaker Jason Stephens says there won't be a legislative fix to the issue.

In a letter to the state's Democratic chair, Secretary of State Frank LaRose quoted the speaker saying there is "just not the will to do that from the Legislature."

This comes just one day after Gov. Mike DeWine called on lawmakers to act on the issue.

The two options that Democrats are left with are to move up the national convention ahead of the state's certification deadline or file a lawsuit.

While time and options are running out for a solution, House Minority Leader Allison Russo continues to say Biden will be on the ballot.

She said she's not surprised a legislative fix didn't happen.

"We've seen the dysfunction here in this place. I think we've seen that folks have not been able to put aside partisanship and hyper-partisanship and infighting and do what I think is the right thing for all voters, the right thing for all parties," said Russo.

This is not the only time a presidential candidate needed Ohio lawmakers to make an exception to the state's certification date. It previously occurred in 2012 and 2020, with the Legislature making exceptions for each.

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UA track teams treating first round like finals | Arkansas Democrat Gazette – Arkansas Online

Posted: at 7:52 am

FAYETTEVILLE -- No points will be awarded at the NCAA West Track and Field First Round events that begin Wednesday at the University of Arkansas' John McDonnell Field, but scoring opportunities are on the line.

Arkansas' No. 1-ranked men's team and No. 2 women's team can only get points from the athletes who advance this week to the NCAA Championships, held June 5-8 in Eugene, Ore.

The top 12 finishers in each individual event and two relays out of 48 entries at the West First Round qualify for nationals. The same math applies to the East First Round being held in Lexington, Ky.

In that sense winning an event or finishing high doesn't carry the same weight at the West First Round as at the SEC Championships, but Arkansas' coaches aren't taking that approach.

"This is a humbling meet," Arkansas men's Coach Chris Bucknam said. "Everything starts fresh. You can't assume anything.

"Our instructions are to compete like it's a final. To me, that's the biggest guarantee you have to make it through. You can't half-ass it."

There are 126 teams competing at the West First Round with 836 men and 813 women.

"There are a lot of people out there that want those 12 spots in each one of those events," Bucknam said. "You can't approach it like, 'Hey, I'm going to go 90% and just make the top 12.' It just doesn't work that way and it never ends good with that approach."

Arkansas' women's team won SEC and NCAA Indoor championships earlier this year and finished second to No. 2 LSU at the SEC Outdoors. The Razorback men's team won SEC titles indoors and outdoors and finished second at the NCAA Indoor meet.

But now the NCAA Outdoors meets start.

"It doesn't matter what you've done up to this point," Arkansas women's Coach Chris Johnson said. "It's the NCAA First Round. We call it a regional because we're in the West region, but this is the NCAA First Round.

"This is our ticket to punch to get to the national meet, so we can't take anything for granted.

"Obviously on both sides of the table [for men and women] we've done a fantastic job in getting these young people ready to go, but now it's one of those situations where you've got to survive and advance."

Men's events will be held Wednesday and Friday with women's events Thursday and Saturday.

The Razorbacks have a combined 48 athletes competing with 60 entries in 30 events.

Arkansas' men have 24 athletes in 15 events with 29 entries and top-ranked individuals in the West with Wayne Pinnock (long jump), Lance Lang (200 meters) and the 1,600 relay team.

Other standouts for the Razorbacks include James Benson (second in the 400), Romaine Beckford (fifth in the high jump), Ben Shearer (fifth in the 5,000) and William Spencer (fifth in the 400 hurdles).

Arkansas-Pine Bluff's Caleb Snowden ranks No. 2 in the high jump.

Jack Turner and Yariel Soto Torrado, who ranked fourth and fifth in the decathlon, already have qualified for nationals for the Razorbacks.

Arkansas' women's team has 24 athletes in 15 events with 31 entries led by its 400 crew of Nickisha Pryce, Kaylyn Brown, Amber Anning and Rosey Effiong, who rank 1-2-3-4 in the West.

Razorbacks Sanu Jallow (800) and Sydney Thorvaldson (10,000) rank No. 1 in the West along with Arkansas' 1,600 relay. Rachel Glenn ranks No. 2 in the high jump and 400 hurdles.

"We've got to be mistake-free, we've got to be focused and we've got to take things seriously," Johnson said. "It's head-to-head competition, so the times really don't matter right now.

"Don't think that you've got a ticket already punched. Only the multis have that. Everybody else, we've got to go out and compete and get busy."

Bucknam said having a combined 48 Arkansas athletes competing for the men and women gives the West First Round meet an SEC Championships feel.

"Our team camp looks good, it feels right," Bucknam said. "It's good to have that vibe."

Johnson said the high national rankings and past success at NCAA meets adds pressure for both Arkansas teams.

"Our kids feel that," Johnson said. "But I think they're embracing that because that's what we want to be and that's the level of programs that we have.

"Fortunately for us and on the men's side, our kids have been in big moments. They understand what it is. I think the SEC meet prepares us for these type moments.

"I always tell our young ladies, 'If you do what you did to get to this point, we'll be fine. And if that's not good enough, then it wasn't in the cards for us.' "

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Bringing clarity to cryptocurrency – Washington Times

Posted: May 21, 2024 at 9:40 am

OPINION:

As the FTX collapse demonstrated in 2022, issuing and trading digital assetsincluding cryptocurrenciesneed clear rules of the road.

The regulatory gaps in the digital asset market must be filled by legislation, not by independent agencies ruling by enforcement. If Congress does not take action, Securities and Exchange Commission (SEC) Chairman Gary Gensler will continue to exercise broad authority over all digital assets.

Thats why we collaborated with House Financial Services Committee Chairman Rep. Patrick McHenry (R-NC) and House Agriculture Committee Chairman G.T. Thompson (R-PA) to craft our Financial Innovation and Technology for the 21st Century Act (FIT21), which crafts a fit for purpose regulatory framework for digital assets that protects consumers and investors while keeping innovation in the United States.

This type of committee collaboration is unprecedented and may be the most substantial piece of digital asset legislation in Congresss history. FIT21 directs the SEC and Commodity Futures Trading Commission (CFTC), along with the bank supervisors, on how to classify cryptocurrencies and other digital assets as securities or commodities.

Since our two committees passed FIT21 last summer, this bill has incorporated our members bipartisan priorities. We believe it fully responds to the Financial Stability Oversight Council (FSOC) and the Presidents Executive Order on Ensuring Responsible Development of Digital Assets.

Digital asset regulation is making further bipartisan strides in Congress. This past week, both the House and Senate sent the SEC and White House a clear, bipartisan message to nullify their SAB 121 rule, which is detrimental to consumer protection and yet another example of SEC Chair Genslers reckless rule-by-enforcement approach to cryptocurrency. Democrats in the House and Senate voted to roll back SAB 121, signaling that protecting consumers and preserving innovation in America are priorities for lawmakers on both sides of the aisle.

The FIT for the 21st Century Act is a pragmatic legislative solution that ensures both crypto-native and traditional finance companies can sensibly innovate in this market while establishing consumer protections that are currently clearly inadequate.

As Chairmen of the Digital Asset Subcommittees, we remain committed to passing our landmark legislation into law. This week, our historic bill heads to the House Floor, where it must pass to ensure America continues fostering innovation and remains a global tech and finance hub.

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This Man Did Not Invent Bitcoin – The New York Times

Posted: at 9:40 am

For much of its existence, the cryptocurrency company nChain was governed by a golden rule of office politics: It was not a good idea to challenge Craig Steven Wright, the chief science officer.

At nChains London offices, Dr. Wright, an Australian computer scientist, was treated as a sort of philosopher king. He wore three-piece suits and drove a Lamborghini. A middle manager would tape Dr. Wrights ramblings about obscure technical matters and then share the recordings with a staff of researchers, who were instructed to turn his musings into patents.

In 2017, Martin Sewell, an nChain employee, circulated a skeptical memo documenting technical errors in a series of papers that Dr. Wright had published about economics and computer science. A manager called Mr. Sewell into his office and told him that he had to stop.

The deference to Dr. Wright was just this extraordinary arrangement, Mr. Sewell recalled. Like he was some sort of god of everything.

Indeed, Dr. Wrights authority rested on a claim to a kind of divine significance that he was the mysterious creator of Bitcoin, the original cryptocurrency.

In 2008, a person using the pseudonym Satoshi Nakamoto published a white paper explaining the basics of Bitcoin, a clever idea that eventually became the foundation of a multitrillion-dollar industry. Then, as abruptly as he had emerged, he vanished. Satoshi, whos known by his first name, controls an estimated 1.1 million Bitcoins, a $75 billion stash that has sat untouched for more than a decade.

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Venture Capital Pours $2.4 Billion into Cryptocurrency Startups in Q1 2024 – The Dales Report

Posted: at 9:39 am

The TDR Three Key Takeaways regarding Venture Capital and Cryptocurrency Startups:

The cryptocurrency industry attracted substantial venture capital funding despite regulatory uncertainty and market fluctuations. In the first quarter of 2024, venture capital investments in crypto surged to $2.4 billion, signaling renewed investor confidence in the sectors long-term potential.

According to the latest PitchBook report, the recovery in publicly traded tokens and the rise in institutional adoption are key factors driving the increase in venture capital funding. These trends will drive increased VC funding, stated PitchBook analyst Robert Le.

This influx of capital reflects a broader trend of growing interest in cryptocurrency startups. The emergence of meme coins, DeFi platforms, NFTs, and blockchain-based applications has not only expanded the markets appeal but also diversified investment opportunities. The ability of these innovative digital assets to generate substantial returns has made the crypto market an attractive option for investors looking to diversify their portfolios.

Despite its inherent volatility, the crypto markets potential for high returns continues to lure venture capitalists. The first quarter of 2024 saw a significant number of early-stage deals, which have become highly competitive. As Robert Le from PitchBook noted, The investment rounds have become highly competitive, especially at the early stages.

One important trend in the current venture capital landscape is the higher valuations being placed on early-stage deals compared to late-stage deals. This shift suggests that investors are betting on the future growth and success of new cryptocurrency startups. Le observed, This is compounded by the fact that early-stage deals are earning higher valuations than late-stage deals but we will see if this trend holds in the coming quarters.

The rise of decentralized finance platforms, which aim to recreate traditional financial systems in a decentralized manner, has been a significant driver of venture capital interest. DeFi platforms offer innovative solutions that challenge conventional banking and financial services, making them attractive investment opportunities. Similarly, NFTs have opened new avenues for digital ownership and monetization, further broadening the scope of the crypto market.

In addition to these technological advancements, the institutional adoption of cryptocurrencies is playing a crucial role in increasing investor confidence. Large financial institutions are increasingly integrating blockchain technology and digital assets into their operations, underscoring the legitimacy and potential of the crypto market.The first quarter of 2024 also saw the debut of several Bitcoin ETFs, which have contributed to renewed investor interest in the crypto sector. These ETFs provide a regulated and accessible way for investors to gain exposure to Bitcoin, further driving the flow of venture capital into the market. As the market matures, we can expect to see more sophisticated financial products and services emerge, further integrating cryptocurrencies into the global financial system. Want to keep up to date with all of TDRs research and news, subscribe to our daily Baked In newsletter.

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