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Analysis | Tech winners from Trump’s 2024 platform: crypto, AI and Elon Musk

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Analysis | Tech winners from Trump’s 2024 platform: crypto, AI and Elon Musk

Happy Wednesday! Did somebody order the London Symphony Orchestra? Send news tips to: will.oremus@washpost.com.

Below: Meta will take down more posts about “Zionists.” First:

The 2024 GOP platform looks to boost crypto, AI and Elon Musk.

For a party whose leaders, including former president Donald Trump, have often railed against Big Tech, the Republicans’ new platform has relatively little to say about tech regulation. And what it does say signals a laissez-faire if not outright cozy approach to emerging sectors that have drawn scrutiny from the Biden administration.

The 16-page platform, proposed by Trump and adopted by Republican delegates Monday ahead of next week’s Republican National Convention, calls for boosting rather than restricting cryptocurrency and artificial intelligence. “Republicans will pave the way for future Economic Greatness by leading the World in Emerging Industries,” it promises.

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Critics counter that the platform’s policies could lead to harm for consumers while abetting those emerging industries’ worst actors at the expense of real innovation.

The Republican Party’s top tech priority, per the document, appears to be promoting cryptocurrency.

“Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency,” the platform asserts. “We will defend the right to mine bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.”

Trump’s pose as the pro-crypto candidate could be a savvy move, contended Chris MacKenzie, senior director of communications at the Chamber of Progress, a left-of-center trade group that receives funding from tech companies. In an open letter on Tuesday, his group called on President Biden to support bipartisan cryptocurrency legislation that is widely viewed as industry-friendly, noting that 18 million Americans hold or trade cryptocurrency.

“We see this as an opportunity for him to … take the mantle of being the crypto-positive candidate away from Trump, who has really worked to make that part of his campaign,” MacKenzie said.

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That would be misguided, some consumer advocates say.

Boosting cryptocurrency is an odd plank for a major party, given the relatively minor role it plays in the broader economy, said Robert Weissman, president of the consumer advocacy group Public Citizen. He said its prominent place in the Republicans’ platform likely reflects the heavy lobbying effort by cryptocurrency interests, which he said is “obviously influencing politicians of both parties.”

“The enforcement standards currently being applied that Republicans propose to repeal or roll back are designed to protect Americans from scams, rip-offs and fraud, which has been prevalent in the crypto industry,” Weissman said. “Effectively this should be read as, ‘We aim to promote more fraud on everyday Americans.’”

The Republican platform also calls for repealing Biden’s executive order on AI.

“We will repeal Joe Biden’s dangerous Executive Order that hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology,” the platform reads. “In its place, Republicans support AI Development rooted in Free Speech and Human Flourishing.”

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The sweeping order, which Biden signed in October 2023, placed new safety obligations on AI developers and called on federal agencies to mitigate the technology’s risks while spurring its responsible development. My colleagues Elizabeth Dwoskin, Drew Harwell and Cat Zakrzewski reported in May that an influential tech lobbying group had been laying the groundwork for a possible future Trump administration to dismantle those rules and funnel money into AI grants and contracts instead.

But it’s not clear how many AI companies actually want the order repealed.

“For American companies to continue to grow and lead in innovation domestically and around the world, U.S. policymakers need to help set the global norms for AI,” said Julia Massimino, executive vice president for government affairs at the Information Technology Industry Council, a global tech trade association, in an emailed statement. She said the group urges policymakers to prioritize policies that “build trust in the technology” while supporting its beneficial uses.

Suresh Venkatasubramanian, a Brown University computer science professor who helped craft the Biden administration’s thinking on AI, told Tech Brief that a hands-off approach to AI development “might have made sense” in the technology’s formative years. But he said “we are well past that point today.”

“We have mountains of evidence on why and how we need to govern AI systems that affect people’s rights, opportunities, and access to vital services,” Venkatasubramanian said.

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The GOP’s platform includes one more tech-adjacent priority: Bolstering commercial space exploration.

“Under Republican Leadership, the United States will create a robust Manufacturing Industry in Near Earth Orbit, send American Astronauts back to the Moon, and onward to Mars, and enhance partnerships with the rapidly expanding Commercial Space sector to revolutionize our ability to access, live in, and develop assets in Space,” the document says.

A prime beneficiary of government investment in commercial space exploration would likely be Elon Musk, the billionaire who controls SpaceX, Tesla and X. In recent years, Musk has been increasingly vocal about his conservative views, and in 2022 he urged his massive following on X to vote Republican in the midterm elections. He has not endorsed a candidate for president, though he said after an impromptu March meeting with Trump that he’s “leaning away from Biden.”

The platform did not mention Section 230, the tech liability shield that Trump sought to repeal as president, or antitrust enforcement against tech giants, which ramped up under the Trump administration before the Biden administration adopted an even tougher line.

Meta to remove more posts about ‘Zionists’ in push to fight antisemitism

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Meta is more aggressively removing some social media posts containing the word “Zionist” when it appears to be a proxy for Jew — an effort to counter a wave of antisemitism online after the start of the Israel-Gaza war, our colleague Naomi Nix reports for Tech Brief.

Meta announced Tuesday that it’s expanding its existing hate speech policy to remove more content attacking “Zionists” when it is not critiquing the political movement but appears to be spreading antisemitic stereotypes or calling for harm against Jews or Israelis “under the guise of attacking Zionists,” the company said in a blog post.

The social media giant currently bans all attacks on people based on race, religion, nationality or sexual orientation, including posts that spread “harmful stereotypes” or dehumanize people. Under that policy, Meta has treated the word Zionist as a proxy for Jewish or Israeli in limited circumstances, such as comparing them to rats — a known antisemitic trope.

Now, Meta will remove more content that includes the word Zionist, such as posts that claim Zionists are running the world or controlling the news media, or posts that compare Zionists to pigs, filth or vermin.

Meta has been discussing the potential policy change with civil society groups for months. And while the shift has already earned the company support from some Jewish groups, it’s likely to bring criticism from some digital rights activists and pro-Palestinian groups, who have argued the new approach will stifle legitimate critiques of the Israeli government and Zionism during a catastrophic war.

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U.S. and allies take down Russian ‘bot farm’ powered by AI (Joseph Menn)

In first, federal regulators ban messaging app from hosting minors (Cristiano Lima)

U.S. plans up to $1.6 billion in funding for packaging computer chips (New York Times)

Microsoft is hiking the price of Xbox Game Pass Ultimate and launching a new ‘Standard’ tier (The Verge)

Google is no longer claiming to be carbon-neutral (Bloomberg)

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Amazon says it reached a climate goal seven years early (New York Times)

Microsoft and Apple drop OpenAI seats amid antitrust scrutiny (Financial Times)

Google Maps’ speedometer finally comes to iOS and CarPlay (Engadget)

Kamala D. Harris’s awkward quotes are being turned into internet memes (Taylor Lorenz)

Your partner wants your online passwords. Say no. (Tatum Hunter)

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Tesla’s Secret: Elon Musk’s car gets VIP treatment for self-driving AI (Business Insider)

Victor Peng, president at the Santa Clara, Calif.-based semiconductor firm Advanced Micro Devices, has been selected to join the Steering Committee of the National Semiconductor Technology Center Consortium, where he will represent the private sector in a volunteer capacity.

  • The Federalist Society hosts a fireside chat with the FTC’s Melissa Holyoak on Wednesday at noon.
  • The Senate Commerce Committee holds a hearing, “The Need to Protect Americans’ Privacy and the AI Accelerant,” Thursday at 10 a.m.
  • The congressional internet Caucus Academy hosts an event, “Tech Platforms and the 1st Amendment: Impact of Supreme Court Rulings,” on Friday at noon.

That’s all for today — thank you so much for joining us! Make sure to tell others to subscribe to Tech Brief. Get in touch with Cristiano (via email or social media) and Will (via email or social media) for tips, feedback or greetings!

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Crypto

Bitcoin price retraces 30% from record high. How does crypto market look like in 2026? | Stock Market News

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Bitcoin price retraces 30% from record high. How does crypto market look like in 2026? | Stock Market News

The year 2025 has remained mixed for the crypto market as the sector presents a balanced yet optimistic outlook. Looking at the positive side, there was tangible advancement—DeFi ecosystems continued to grow, stablecoins gained wider traction, CBDC infrastructure pilots moved forward, and developer participation surged across APAC and worldwide, with millions building on-chain.

“On one hand, the industry saw real progress: growth in DeFi projects, expansion of stablecoins, new CBDC-infrastructure pilots, and rising developer activity across APAC and globally, with millions committing to code on-chain. On the other hand, after early-year optimism from retail investors, the October correction was a reminder that sentiment remains fragile and that hype without real delivery can still hurt the industry,” said Nischal Shetty, Founder, WazirX.

Bitcoin has fallen roughly 30% from record high levels and is down more than 6% so far this year, as the market continues to find it difficult to recover after the October crash. According to Bloomberg report, trading activity remains subdued, with retail speculation losing momentum.

The decline has partly been driven by technical factors, with prices dropping below the 365-day moving average, while persistent selling by long-term holders has also weighed on Bitcoin.

Key drivers of the crypto market in 2025

At the beginning of the year, the market witnessed the setup of US Strategic Bitcoin Reserve, underscoring Bitcoin’s rising strategic significance.

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By mid-year, the enactment of the GENIUS Act introduced a well-defined regulatory framework for USD-backed stablecoins, strengthening confidence and paving the way for wider adoption.

The CFTC’s December 4 decision to permit listed spot crypto products on registered futures exchanges represented a key milestone, advancing the market from regulated ETFs toward more transparent cross-border compliance structures and greater institutional involvement.

Crypto market outlook in 2026

According to Shetty, global institutional appetite for regulated digital-asset products will continue to increase, driving capital inflows and contributing to market stability.

At the same time, domestic policies for countries will be key in shaping their respective investor sentiment. In India, the foundation stone of the CBDC project could be laid soon, Shetty added.

“The RBI has announced a hackathon in October to nurture tech talents in the emerging technology space, which will encourage more Indians to see emerging tech as a promising career prospect. A clearer regulatory framework for VDAs, potentially paired with supportive tax measures, support for stablecoin initiatives alongside CBDC measures, could unlock real-world blockchain use cases from Indian builders to kickstart on-chain growth for Indians,” Shetty said.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

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Coinbase 2026 Outlook Sees Crypto Entering Finance Core in ‘Extraordinary and Transformative’ Shift

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Coinbase 2026 Outlook Sees Crypto Entering Finance Core in ‘Extraordinary and Transformative’ Shift
Coinbase Institutional’s 2026 Crypto Market Outlook frames the industry at a pivotal transition, with policy clarity, institutional participation, and infrastructure convergence positioning digital assets to integrate deeper into the financial core over the coming year.
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Bitcoin Supply Overhang: 6.6 Million BTC Bought Above Current Price

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Bitcoin Supply Overhang: 6.6 Million BTC Bought Above Current Price

On-chain data shows a chunk of the Bitcoin supply has its cost basis above the current spot price, which could potentially shape volatility if BTC rebounds.

Bitcoin Supply Overhang Could Dictate Volatility & Selling Pressure

As pointed out by CryptoQuant community analyst Maartunn in a new post on X, over 6.6 million BTC is being held above the latest spot price of the cryptocurrency. The on-chain indicator of relevance here is the “Supply In Loss,” which measures, as its name suggests, the total amount of Bitcoin that’s currently carrying some net unrealized loss.

The metric works by going through the transaction history of each token in circulation to determine the price at which it was last transacted on the blockchain. If this previous transfer price was more than the current spot price for any coin, then that particular token is considered to be in a state of loss.

The Supply In Loss adds up all coins fulfilling this condition to find the total situation on the network. A counterpart indicator called the Supply In Profit accounts for the supply of the opposite type.

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Now, here is the chart shared by Maartunn that shows the trend in the Bitcoin Supply In Loss over the last few years:

As displayed in the above graph, the Bitcoin Supply In Loss shrunk to a value of zero as the asset’s price set its all-time high (ATH) above $126,000 back in October, but with the market downturn that has followed since then, the indicator’s value has shot up.

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Today, around 6.6 million tokens of the cryptocurrency sit below cost basis, equivalent to a third of the BTC supply in circulation. The recent highs in the Supply In Loss represent the highest degree of pain in the market since 2023.

In another X post, the analyst has shared the chart for another Bitcoin indicator, this one called the UTXO Realized Price Distribution (URPD). The URPD contains information about how much BTC was bought last at each of the levels that the asset has visited in its history.

From the chart of the URPD, it’s visible how the Bitcoin supply that’s in loss is distributed across the various levels right now. A few levels are particularly prominent in the degree of supply that they carry, while some others are notably thin with coins.

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Generally, investors who are in loss look forward to a retest of their cost basis so that they can get their money “back.” Once this happens, some of these hands decide to exit, fearing that BTC will go down again in the near future. This selling can make large supply clusters above the spot price, potential points of volatility.

Considering that a large portion of the supply is underwater right now, a venture back to higher levels could be met with selling pressure for Bitcoin.

BTC Price

Bitcoin has made some recovery during the past day as its price has returned to $88,600.

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