Connect with us

Washington

Washington is warming up to crypto faster than even industry insiders expected

Published

on

Washington is warming up to crypto faster than even industry insiders expected


  • Lawmakers on both sides of the aisle are flirting with crypto after years of skepticism.
  • Momentum has picked up even quicker than the industry thought.
  • But doubts linger than Democrats will fully embrace crypto.

It’s not just Donald Trump: Politicians in both parties are increasingly coming around on crypto.

After being staunchly anti-bitcoin, Trump rebranded himself as the crypto candidate last year, and plans to launch a strategic reserve for digital assets. Republicans fell in line.

The surprising part is that Trump’s arch-enemies are also reconsidering their anti-crypto positions. While many Democrats are still skeptical about digital assets, crypto lobbyists in Washington say they’re less antagonistic of the industry than they were previously. The anti-crypto arguments, like the one espoused Elizabeth Warren in January, are going out of style.

Advertisement

“Embrace is too strong a word,” Seth Hertlein, the global head of policy at crypto firm Ledger, said of Democrats’ stance on crypto. “I think there has definitely been a thaw, though.”

After one development this week, “thaw” may actually be an understatement.

On Tuesday, the US Senate resoundingly passed a measure blocking a Biden-era regulation that would require tax reporting by certain decentralized finance firms, which crypto advocates argue would be overbearing. A staggering 18 Democratic senators (19, including an Independent who caucuses with Democrats) voted with Republicans, pushing the final tally to 70 to 28. Hertlein had told BI that he thought only two or three Dems would be on board.

Bitcoin surged 8% in the hours after the initial vote, and other tokens also gained ground. The moves reflected a sentiment shift, and a sign that the crypto world is anticipating more positive developments ahead.

Advertisement

Voters gave a clear verdict on crypto, proponents say

Historians will likely debate for decades why Trump won and Democrats lost in 2024, though the crypto community is convinced that the president’s support for their cause made a difference.

“It was a huge issue in the last election,” Hertlein said of crypto at the Bitcoin Investor Week conference in late February. “And I don’t think that’s lost on anyone in Washington.”

Pro-crypto candidates appeared to outperform during last fall’s elections, including an upset win by Republican Bernie Moreno over Democrat Sherrod Brown, who’s a crypto skeptic.

Many associate crypto with the political right, and not just because Trump is infatuated with it. Stand With Crypto, an advocacy group backed by crypto broker Coinbase, has determined that 256 Republicans in office are supportive of crypto, compared to 89 Democrats.

Advertisement

But that doesn’t have to be the case. In fact, some crypto believers say the Democratic platform, known for its skepticism of Wall Street and big business, is a natural fit for decentralized finance.

“This is not a politicized asset class,” Federico Brokate, the head of the US business at crypto investment product issuer 21Shares, told BI.

He added: “There’s different aspects of the crypto value chain that are happening in traditionally red states or traditionally blue states, as well.”

Perhaps the most pro-crypto politician in DC is Cynthia Lummis, a first-term Republican senator from Wyoming. She was reportedly the first Senator to own bitcoin, and was fiercely critical of the Biden administration regulations that she saw as a threat to the industry.

Advertisement

“Everywhere you looked in the regulatory framework, it was hostile,” Lummis said on stage at the Bitcoin Investor Week conference. “And the hostility was pointed at not just bitcoin, but other digital assets: ethereum, cardano, solana — all this stuff. But bitcoin was caught up in it.”

A Democratic Party representative didn’t respond to Business Insider’s request for comment.

Lummis thinks attitudes toward crypto are now shifting, and she’s looking to have conversations with Democrats and Republicans about how the US should approach this growing industry.

Advertisement

Will Dems get their arms around crypto?

While some believe Democrats are warming up to crypto, others aren’t holding their breath.

Anthony Scaramucci, a major crypto investor and an avowed Trump critic, said at the bitcoin conference that he agreed with Lummis’s assessment about Democrats. Under Biden, he said the party was “really out to lunch” last year when it came to crypto and blockchain technology.

“Mark Cuban, Michael Novogratz, and I last summer descended into the White House, descended into meetings in Washington with senators, policymakers, assistant secretaries to the Treasury,” Scaramucci said at the conference. He said the tech leaders told Biden’s team: “‘What are you guys doing? You’ve got to get off the anti-crypto brigade.’”

This outdated stance is “the best thing that Trump has going for him,” Scaramucci remarked.

Advertisement

“The fact that the Democrats didn’t see that and didn’t see the power of this industry is a sign that they are derelict in their duties right now and aren’t really understanding what’s going on in the marketplace,” he said.

The SkyBridge Capital founder is trying to turn the tide, so that he doesn’t have to begrudgingly give Trump props. He told BI last fall that the 45th president’s win greatly helped his portfolio, even if didn’t want it, and joked at the conference that he should buy Trump a Christmas card.

In Scaramucci’s mind, Democrats were wrong about crypto, rudderless, and pulled off a last-second candidate switcheroo — yet still kept the presidential election close. He thinks they’ll perform better in future elections if they follow Republicans on crypto, but he’s not sure they will.

“The Democrats are not ready to do that,” Scaramucci said of embracing crypto. “I think they’re going to have a lot of problems if they don’t do that. But if I were them, I would be at least neutral on bitcoin.”

Advertisement

In democracies, voters speak, and politicians either adapt accordingly or risk losing their seats. Emboldened crypto supporters are confident their agenda will advance — one way or another.

“Crypto is here to stay,” Hertlein said. He added: “There is a recognition that it can’t just be ignored or killed. It is something that leaders of both parties are going to have to deal with.”





Source link

Advertisement

Washington

The Church of Jesus Christ has announced its 384th temple

Published

on

The Church of Jesus Christ has announced its 384th temple


The state of Washington is getting a seventh temple of The Church of Jesus Christ of Latter-day Saints.

The Marysville Washington Temple was announced Sunday night during a devotional in the Marysville Washington Stake by Elder Hugo E. Martinez, a General Authority Seventy in the church’s United States West Area Presidency.

“We are pleased to announce the construction of a temple in Marysville, Washington,” the First Presidency said in a statement. “The specific location and timing of the construction will be announced later. This is a reason for all of us to rejoice and express gratitude for such a significant blessing — one that will allow more frequent access to the ordinances, covenants and power that can only be found in the house of the Lord.”

The other temples in Washington are the Columbia River, Moses Lake, Seattle, Spokane, Tacoma and Vancouver temples.

Advertisement

The church has 214 temples in operation. Plans for another 170 temples have been announced; many of those temples are in various stages of planning and construction.

Sunday’s temple announcement follows the new practice of the church’s First Presidency, which determines where temples will be built — and when and how they will be announced.

The First Presidency directed a General Authority Seventy to announce the first temple in Maine at a fireside there in December.

In January, church President Dallin H. Oaks said the Maine announcement set the pattern for future temple announcements.

“The best place to announce a temple is in that temple district,” he told the Deseret News.

Advertisement

The First Presidency will continue to decide where future temples will be built. It then will “assign someone else to make the announcement in the place where the temple will be built,” he said.

This pattern came to him as a strong impression after he assumed leadership of the church in October, following the death of his friend, President Russell M. Nelson.

This came as a strong impression to him shortly after he assumed the leadership of the church, President Oaks said.

The church remains in the midst of an aggressive temple-building era. President Nelson announced 200 new temples from 2018 to 2025. All but one were announced at general conference.

Five dozen temples are now under construction.

Advertisement

President Oaks now has overseen the announcement of two temples, neither at a general conference.

At the October conference he said that “with the large number of temples now in the very earliest phases of planning and construction, it is appropriate that we slow down the announcement of new temples.”

Ten new temples are scheduled to be dedicated in the next six months.

  • May 3: Davao Philippines Temple.
  • May 3: Lindon Utah Temple.
  • May 31: Bacolod Philippines Temple.
  • June 7: Yorba Linda California Temple.
  • June 7: Willamette Valley Oregon Temple.
  • Aug. 16: Belo Horizonte Brazil Temple.
  • Aug. 16: Cleveland Ohio Temple.
  • Aug. 30: Phnom Penh Cambodia Temple.
  • Oct. 11: Miraflores Guatemala City Guatemala Temple.
  • Oct. 18: Managua Nicaragua Temple.

Two-thirds of the 170 temples still to be built are outside the United States.

Temples are distinct from the meetinghouses where Latter-day Saints worship Jesus Christ each Sunday. Temples are closed on Sundays, but they open during the week as sanctuaries where church members go to find peace, make covenants with God and perform proxy ordinances for deceased relatives.



Source link

Advertisement
Continue Reading

Washington

Washington football displays depth, talent at first spring scrimmage

Published

on

Washington football displays depth, talent at first spring scrimmage


On a perfect day in Seattle for football, Washington took the field inside Husky Stadium for its first scrimmage of spring practice, and ahead of his third season at the helm, Jedd Fisch seemed pleased with the results.

“Guys played and competed their ass off,” he said after the Huskies ran 120 plays. “That’s the type of day we want to have…We have a lot to work on, but we’re excited that today gave us this opportunity.”

The 120 plays had a little bit of everything, but the biggest thing the Huskies showed during the day was that, despite the inexperience that Fisch’s coaching staff is looking to lean on at several positions, there’s plenty of talent littering the roster. The best example of that is sophomore safety Paul Mencke Jr., who had his best practice in a Husky uniform after Fisch announced on Saturday that senior CJ Christian is out for the year after suffering a torn Achilles tendon during Tuesday’s practice at the Virginia Mason Athletic Center.

“Paul’s done a great job of competing and being physical and playing fast, and you could see over these three years, he’s really grown into understanding now the system, and what’s asked of him as a safety,” Fisch said. “I think there’s a lot of in him that he wants to be like (safeties coach Taylor) Mays. He sees himself as a tall, linear, big hitter. So when you have your coach that is known for that type of play, I think Paul has done a great job.”

Advertisement

Mencke was all over the field. Not only did he lay some big hits, just like his safeties coach did during his time at USC, but the former four-star recruit also tallied a pair of pass breakups, an interception in a 7-on-7 period, and multiple strong tackles to hold ball carriers to limited yards.

While the defense did a good job getting pressure throughout the day and making the quarterbacks hold the ball with different looks on the back end, with safety Alex McLaughlin, linebacker Donovan Robinson, and edge rusher Logan George all among the players credited for a sack, quarterback Demond Williams Jr. got an opportunity to show off how he’s improved ahead of his junior year.

Early on, he showed off his well-known speed and athleticism, making the correct decision on a read option, pulling the ball and scampering for a 25-yard gain before displaying his touch. Throughout the day, his favorite target was junior receiver Rashid Williams, whom he found on several layered throws of 15-plus yards in the various scrimmage periods of practice.

On a day when every able-bodied member of the team was able to get several reps of live action, here are some of the other noteworthy plays from the day.

Spring practice notebook

  • Freshman cornerback Jeron Jones was unable to participate in the scrimmage and was spotted working off to the side with the rest of the players rehabbing their injuries.
  • The running backs delivered a pair of big blows on the day. First, cornerback Emmanuel Karnley was on the receiving end of a big hit from redshirt freshman Quaid Carr before the former three-star recruit ripped off a 13-yard touchdown run on the next play. Later on, every player on offense had a lot of fun cheering on freshman Ansu Sanoe after he leveled Zaydrius Rainey-Sale, letting the sophomore linebacker hear all about it when the play was whistled dead.
  • Sophomore wide receiver Justice Williams put together a strong day with several contested catches, showing off his strong hands and 6-foot-4 frame, including a 25-yard catch and run off a drag route from backup quarterback Elijah Brown.
  • Of all the tackles for a loss the Huskies were able to rack up throughout the day, two stood out. First, junior defensive tackle Elinneus Davis burst through the middle of the line to wrap up freshman running back Brian Bonner. Later on, freshman outside linebacker Ramzak Fruean wasn’t even touched as he shot through a gap in the offensive line to track down a play from behind, letting the entire offensive sideline know about the play on his way back to his own bench.
  • The Huskies experimented with several defensive line combinations on Saturday, and for the first time this spring, it felt like freshman Derek Colman-Brusa took the majority of his reps alongside someone other than Davis, who he said has taken on an older brother role to help mentor the top-ranked in-state prospect in the 2026 class.

“Elinneus is a phenomenal guy. Great work ethic. He’s kind of taken on that older brother mentor for me. He’s been a great help just to learn plays and learn the scheme. Can’t say enough good things about the guy.”

  • Ball State transfer Darin Conley took a handful of reps with the first team, while rotating with Colman-Brusa, who got a lot of work in alongside Sacramento State transfer DeSean Watts.



Source link

Advertisement
Continue Reading

Washington

Sioux Falls art teachers show ‘incredible’ work at Washington Pavilion

Published

on

Sioux Falls art teachers show ‘incredible’ work at Washington Pavilion


Twenty Sioux Falls School District art teachers have their own original pieces on display at the Washington Pavilion’s University Gallery now through May 31.

The “Teachers as Artists” exhibit showcases their work not just as educators, but as artists inside and outside of the classroom, and highlights how art education builds critical thinking, creative problem-solving and self-expression skills.

Edison Middle School art teacher Meagan Turbak-Fogarty said she dreamt of such a showcase since her first year teaching.

Advertisement

She and Kathy Dang, an art teacher at Marcella LeBeau Elementary School who also serves on the city’s Visual Arts Committee, partnered with the city and Washington Pavilion to bring the showcase to life.

Turbak-Fogarty has taught at Edison for five years and said her passion for art is “instantly felt” on her classroom walls, but that students have asked where they could see her art in the classroom, or what kind of art she creates in her own time.

“I always felt the feeling that I stand in front of all these kids every single day and preach about how much I love art, and how art has changed my life,” Turbak-Fogarty said. “That got me thinking, ‘I want to show them.’”

Some of her works on display at the Pavilion include art she created in her first year teaching, including a large Cheetos bag she created as an example for her eighth grade classroom when they were working on a large chip bag project. Turbak-Fogarty said she loves painting, working with acrylics and unconventional materials.

Advertisement

“I wanted to show my students that art can be anything,” she said. “It doesn’t have to be hanging up in a museum to be considered art.”

Continuing to do her own art while teaching the subject helps keep her inspired, Turbak-Fogarty explained, adding that it helps her push her own creativity when it comes to projects she works on with students.

Samantha Levisay, an art teacher at John Harris Elementary School, showed three pieces in the show — “Moments in Time,” “Midnight Butterfly Garden” and “Whimsy” — with the same mixed media, watercolor and printmaking skills that she teaches in different units at every elementary grade.

Advertisement

Levisay educates her students that “art is everywhere.” She said her favorite memories as an art teacher are “moments when I show students a lesson, and they take it even further.”

“Kids are so creative; I marvel at them all the time,” she said. “They inspire me every day with their endless creativity and imagination.”

Roosevelt High School art teacher Ruth Hillman showed two pieces in the show: “The Potato on the Wall,” a mixed media work, and a collection of her handmade clay charms in a shadow box.

She also wore some of her art — miniature potato earrings made of clay.

Advertisement

Hillman is in her third year at RHS. When she’s not teaching art, she’s also making art, and sells her charms at shows like the Art Collective.

Washington High School art teacher Mollie Potter displayed a three-part painting series at the show that she said were inspired by her English language learner students’ stories, and how teachers help students “take flight,” as represented by balloons, parachutes and kites in her work.

Advertisement

Porter said she is often inspired by her students’ art in the classroom; for example, one former student was obsessed with swans, and Porter said she later created a painting inspired by one of the student’s stories about swans.

At an April 17 reception, Mayor Paul TenHaken emphasized the arts as an “important economic driver in the community,” and said the show honored educators “who are artists in and of themselves,” but who might not have had a chance to display their art outside the classroom before.

“This is a way for us to honor them and show their incredible work,” TenHaken said.

Advertisement



Source link

Continue Reading
Advertisement

Trending