In this episode of CoinStreet, the recent New York City mayoral election, where Zoram Mamdani emerged victorious. The crypto community is on edge as industry leaders, including Gemini co-founder Tyler Winklevoss, express concerns over Mamdani’s potential impact on the city’s competitiveness and his ambiguous stance on crypto policies.
We also discuss the White House’s deliberation over a pardon for Binance founder CZ, with Press Secretary Caroline Leavitt suggesting that he was over-prosecuted by a “weaponized” Department of Justice. This revelation raises questions about the administration’s approach to crypto regulation and enforcement.
In market news, Solana ETFs have shown remarkable resilience, achieving six consecutive days of inflows, while Bitcoin and Ether funds are experiencing significant outflows. Additionally, Canada is set to introduce new legislation regulating fiat-backed stablecoins, following the U.S.’s lead in establishing comprehensive stablecoin laws. Jane King has the latest from the NYSE.