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    Home»Cryptocurrency»Trump’s Crypto Plans, Gaetz’s El Salvador Proposal, And More: This Week In The Cryptocurrency World
    Cryptocurrency

    Trump’s Crypto Plans, Gaetz’s El Salvador Proposal, And More: This Week In The Cryptocurrency World

    August 11, 20242 Mins Read


    The past week in the world of cryptocurrency was nothing short of eventful. From Rep. Matt Gaetz‘s (R-Fla.) proposal to downgrade travel advisory to El Salvador to the fluctuating fortunes of the Trump-themed “Restore the Republic” coin, there was no shortage of intriguing developments. Let’s dive into the top stories of the week.

    Gaetz Urges Downgrade of El Salvador Travel Advisory

    The Congressional El Salvador Caucus, led by Gaetz and Rep. Vicente Gonzalez (D-Texas), has called on the Biden administration to ease the travel advisory for El Salvador from Level 3 to Level 1. The caucus believes that this move will encourage normal precautions for travelers, rather than the current “Reconsider Travel” advice.

    Read the full article here.

    ‘Restore the Republic’ Coin Sees Dramatic Drop

    A new cryptocurrency on the Solana blockchain, named ‘Restore the Republic’, saw its market value plummet by 95% after Eric Trump confirmed that it was not the official coin associated with his father, Donald Trump. The coin’s value had soared to $155 million before the clarification.

    Read the full article here.

    See Also: Bitcoin, Ethereum, Dogecoin Facing Wednesday Woes: ‘Correction To $54,500 If BTC Breaks $56,800 Support’

    Trump’s Bitcoin Debt Plan Questioned

    Renowned economist Justin Wolfers expressed skepticism about former President Donald Trump’s plan to use Bitcoin to pay off the U.S.’s $35 trillion debt. Wolfers, a professor at the University of Michigan, questioned Trump’s understanding of debt, cryptocurrency, and economics.

    Read the full article here.

    Crypto Markets See Green

    Cryptocurrency markets traded higher last week, with the first Solana ETF approved in Brazil.

    Read the full article here.

    Trump Advocates for Crypto

    Former President Donald Trump voiced his support for cryptocurrencies, stating that the U.S. government should not be selling Bitcoin. In an interview, Trump referred to cryptocurrencies as “modern currencies” and noted that if the U.S. doesn’t build it, China will.

    Read the full article here.

    Read Next:

    This story was generated using Benzinga Neuro and edited by Anan Ashraf.

    Photo courtesy: Shutterstock

    Market News and Data brought to you by Benzinga APIs

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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