Volv Concierge #49

📈 Nightclubs for kids + bingo nights + pet prenups

Author

Volv Inc.
August 28, 2024

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Hey everyone

Priyanka here. It's been a big week for business. Berkshire Hathaway became the first US company, outside of tech, to hit $1 trillion (Warren Buffett's birthday came two days early, literally). The world is also reeling after Telegram CEO's arrest and what that could mean for tech CEOs worldwide. Is Elon Musk next?

Another thing that happened this week was that the global crypto market hit $2 trillion after Fed Chair Jerome Powell implied that US inflation was under control. It's the perfect time to compare Trump v. Harris' position and see what's in store for crypto under the next POTUS.

📈 Anyway, back to our regularly scheduled programming

Before we move on to interesting reads, let's look at what's been trending.

What's in: Nightclubs for kids + bingo nights + pet prenups
What's out: Nudity in Europe (what!)

Headlines you missed:

📌 Tips from building Volv this week

Two years ago I shared a bunch of databases on Twitter - about 4000 VC + Angels for all founders fundraising. It's amazing to see how many people have benefited from it and how many are still engaging with it. I hope this updated database with even more investors continues to provide value!

Harris v. Trump's Position on Crypto

Trump was anti-crypto during his first term and before the 2024 presidential campaign:

  1. He had a negative view of cryptocurrencies and backed regulation in the sector.

  2. In 2019, he tweeted that he was not a fan of Bitcoin and other cryptocurrencies, which he said "are not money." He added that their "value is highly volatile and based on thin air." He asserted that "We have only one real currency in the USA… It is called the United States Dollar!"

  3. He further stated that unregulated crypto assets "can facilitate unlawful behavior."

  4. In 2021, he said that Bitcoin seemed like a "scam," adding that he didn't like it because "it's another currency competing against the dollar."

  5. He also said cryptocurrencies are "potentially a disaster waiting to happen."

His position changed during the 2024 election campaign.

  1. In May, his campaign started accepting donations in crypto — a move that signaled a shift in his stance on cryptocurrencies.

  2. At the 2024 Bitcoin Conference in Nashville, he declared that if he wins the presidential election, he will turn the US into the "crypto capital of the planet and the bitcoin superpower of the world."

  3. "If crypto is going to define the future, I want [it] to be mined, minted, and made in the USA," he said, adding that "if bitcoin is going to the moon... I want America to be the nation that leads the way."

  4. "You're going to be very happy with me," he told attendees of the Bitcoin Conference, making several pledges for the sector.

  5. His pledges include:

    • To create a "strategic Bitcoin stockpile," which would be filled with some of the reported $5 billion worth of Bitcoin the US government has.

    • To fire SEC chair Gary Gensler, who wants greater regulation of digital assets, "on day one" and "appoint a new SEC chairman."

    • To commute the life sentence of Ross Ulbricht, the founder of Silk Road and a crypto community icon.

    • To "immediately appoint a Bitcoin and crypto presidential advisory council."

    • To pursue crypto policies "written by people who love your industry."

  6. He has promoted 'The Defiant Ones,' a soon-to-launch Trump Organization crypto platform, on his Truth Social platform.  "For too long, the average American has been squeezed by the big banks and financial elites," he wrote. "It's time we take a stand together."

  7. Details about the project are scarce. However, it is expected to be a crypto platform similar to a crypto exchange. It may also act as a bank account alternative.

Harris' position on crypto is still ambiguous:

  1. Hasn't publicly announced her position on the crypto industry yet.

  2. She is expected to take a stricter stance on crypto than Trump, believing that consumers need protection and that greater transparency should be achieved in the digital assets sector — based on the crypto regulations introduced by the Biden administration.

  3. However, her approach might be softer than Biden's — with pro-crypto Democrats lobbying her to adopt a more favorable stance.

  4. Her campaign has reportedly reached out to crypto companies to "reset" relations, with tech industry leaders like Mark Cuban saying he's received feedback that Harris will be "far more open to business."

  5. Her advisors stopped short of making commitments to crypto executives during a recent conference call that was a strategic effort to shape her crypto policy. However, they have signaled she will back measures to grow digital assets.

  6. Her campaign is expected to have "some level of strategic ambiguity between the Biden administration's line and what the cryptocurrency industry wants," as per industry experts.

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This newsletter was edited by Ishita Sen. 

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