Cynthia Lummis Slams Biden's 30% Bitcoin Mining Tax Proposal, Vice President Kamala Harris Snubs Bitcoin Conference And More: Top Crypto Updates This Week
Portfolio Pulse from Benzinga Neuro
This week in cryptocurrency news, Elon Musk's profile picture change caused a 4,300% surge in the value of the meme coin Dark Maga. Vice President Kamala Harris' advisors consulted with Mark Cuban on crypto, while she decided not to attend the Bitcoin 2024 conference. Senator Cynthia Lummis criticized Biden's proposed 30% tax on Bitcoin mining, and economist Peter Schiff criticized Bitcoin investors' expectations from Trump.
July 28, 2024 | 12:00 am
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POSITIVE IMPACT
Elon Musk's profile picture change led to a 4,300% surge in the value of the meme coin Dark Maga.
Elon Musk's actions often have a significant impact on the cryptocurrency market. His profile picture change leading to a massive surge in Dark Maga's value indicates his influence, which could positively affect Tesla's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Senator Cynthia Lummis criticized Biden's proposed 30% tax on Bitcoin mining, calling it a 'blatant attack' on innovation.
The proposed 30% tax on Bitcoin mining by the Biden administration could have a negative impact on Bitcoin's value as it may deter mining activities in the U.S., leading to potential declines in Bitcoin prices.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90