Former U.S. President Donald Trump expressed support for the bitcoin mining industry, advocating for producing the remaining bitcoin in the U.S. to enhance national energy dominance. Vietnam sees increased interest in gold bullion purchases due to favorable prices at state-owned banks. New York Attorney General Letitia James takes legal action against crypto pyramid schemes targeting immigrant communities. In Nigeria, an academic dismisses the link between naira depreciation and crypto trading, advocating for regulatory frameworks. Robert Kiyosaki remains bullish on bitcoin, ethereum, and solana, maintaining his prediction of bitcoin hitting $350K by August.
Trump Champions Bitcoin Mining, Vietnamese Increase Gold Buying, and More — Week in Review
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Donald Trump Pledges to Champion Bitcoin Mining in Historic Meeting With Industry Leaders
Former U.S. President and presidential candidate Donald Trump has engaged with leaders in the bitcoin mining sector, expressing his support for the industry. Trump stressed that bitcoin mining “may be our last line of defense” against a central bank digital currency ( CBDC). He emphasized the importance of producing the remaining bitcoin in the U.S., suggesting it would contribute to the nation’s energy dominance.
Gold Rush: Long Lines to Purchase Bullion in Vietnam
Local reports indicate that lines of several dozen people are waiting to purchase gold bullion from various state-owned banks in Vietnam, primarily in Hanoi and Ho Chi Minh. The interest in buying the precious metal at this time seems to be driven by the lower prices these banks offer to retail investors, in line with the Central Bank of Vietnam’s objective of aligning domestic gold prices with global ones.
New York Cracks Down on Crypto Pyramid Schemes Targeting Immigrants
New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns.
Associate Professor Rejects Alleged Link Between Nigerian Currency Depreciation and Crypto Trading
Nigeria’s decision to halt naira trading on cryptocurrency exchanges is likely to worsen matters for its volatile currency,” an associate professor at the University of East London has argued. The associate professor said Nigeria can effectively regulate the cryptocurrency industry through a framework introduced by its securities regulator in 2022.
Robert Kiyosaki Says His Prediction of Bitcoin Hitting $350K in August ‘Is Not a Lie’ — Also Bullish on Ethereum and Solana
Rich Dad Poor Dad author Robert Kiyosaki has emphasized that his prediction of bitcoin hitting $350K on Aug. 25 “is not a lie.” He also expressed his bullish outlook for ethereum and solana, noting that he will keep buying the three cryptocurrencies because he is “quite certain their prices will continue to rise.”
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