Veronica 💫
@vronirwin
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Tech and Politics Reporter Prev: Forbes, Protocol, SF Examiner. Bylines also in: Fast Company, Gothamist, The Nation, The Frisc, etc. Same @ on bsky
Joined March 2016
BREAKING: TRUMP HAS SELECTED PAUL ATKINS FOR NEXT SEC CHAIR.
🚨 SCOOP: Trump Taps Paul Atkins for Next SEC Chair, Making Good on His Crypto Promises. Atkins has been vocal in his support of the industry and was the first libertarian to serve as an SEC commissioner under President George W. Bush. by @vronirwin . (link in next tweet)
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🚨🚨🚨 Federal regulators are stifling the crypto industry through bank regulation. They might also be breaking federal law by doing so 😮. A 🧵 on some of the inner workings of Operation Choke Point 2.0 👇. 1/.
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My sources tell me rumors that Trump was receptive to the idea of including xrp in a crypto reserve are likely untrue. In fact, they say Trump was pretty hard on Ripple.
Likely false rumors of altcoin reserve send XRP and SOL prices soaring. In light of the speculation, XRP is among the most traded tokens on Coinbase and Binance, climbing to a seven-year high of almost $3.40. @httpsageyd and @vronirwin report: .
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It's ~official~. I now work ft @Unchained_pod . Say hi to your new Regulatory Reporter :)) . Thrilled to be learning from the best @laurashin . DM me tips, scoops, etc. (also yes, I have Signal and Telegram) 😎.
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Today is my last day working for Laura Shin at Unchained. I’m really proud of the impact I’ve had while on the crypto policy beat and am excited to explore new opportunities. I have a special passion for scoops and nerd out over law, policy, and tech. If you see any.
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This is just a brief summary of how the Fed and FDIC may be violating the law in how they’re regulating banks serving crypto companies 👀. Be sure to check out the full article here 👇. 17/.
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🍨 SCOOPS OF THE WEEK 🍨. I am going to compile the best scoops on the crypto/policy beat each week because. I <3 scoops (and maybe it's a useful summary for some folks). My favorites this week:. 1. @EleanorTerrett @CryptoAmerica_ “Treasury to Host Crypto Policy Roundtable.
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SUNNY JUST PRESENTED TO A CLASS OF 130 PEOPLE AND THIS WAS HIS FIRST SLIDE OAUXIQDM OXUWKWD
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Regulators have told several banks to limit their deposits from crypto companies, most often to 15% of total deposits. 🙅. They’ve also pressured banks to limit the crypto industry’s use of their payment settlement platforms. 💸. 2/.
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💥 The pressure is so consistent that it may violate the Administrative Procedure Act (APA), or even the Due Process Clause of the 5th Amendment, because it did not undergo the required rulemaking process with a comment period 👩⚖️⚖️. 3/.
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The whole “you’re not an addict until you graduate college” thing is BS. Like no, frat boy brad, you’re addicted to cocaine.
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Before I wrap, let me give credit where credit is due:. @Nic__Carter coined ‘OPC 2.0,’ and got a lot of people talking about it. @amerbanker had some great reporting on this, too. 18/.
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Are you a UC Berkeley student who has faced discrimination or sexual harassment in a campus workplace? Writing a piece on the targeting of student employees. Please DM with your stories! Rt.
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I’m going to tweet from today’s SEC Crypto Task Force Roundtable “Tokenization—Moving Assets Onchain: Where TradFi and DeFi Meet.” . It’s cool to finally be in the room! . 🧵.
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Excited to be doing some work for @Unchained_pod! Primarily interested in regulatory and political topics. DM me for contact info - open to pitches and tips.
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🤫 My sources, who generally spoke on the condition of anonymity, included people who were directly part of bank supervisory conversations, on various sides of those discussions, as well as crypto executives, lawyers, and investors. 6/.
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They say this pressure comes as “confidential supervisory guidance,” which isn’t protected. One called this potential skirting of the law “repugnant.” 😡. 5/.
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According to Silvergate Chief Administrative Officer Elaine Hetrick’s declaration in the bankruptcy suit released last month, Silvergate was solvent when it voluntarily wound down. Regulators told it to pivot away from serving crypto, and they couldn’t afford to do so. 🤔. 8/.
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📃 The banks that were, or are still, subject to this pressure are:. Silvergate Bank.Signature Bank.Customers Bank.Western Alliance Bank.And Cross River Bank. Let’s break them down 1 by 1…👩🏫. 7/.
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@monaeltahawy Unbelievable to me that this story has never become a talking point in US politics. Politicians should be using this as a major example of wrongdoing and putting pressure on Saudi to release her. It's been done with other tragedies.
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🤺 Others disagreed about these caps potentially being illegal — not because they think it’s right, but because they think regulators could be exploiting a legal loophole. 4/.
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✂️ All of this together demonstrates a pattern: regulators are pressuring banks that specialize in crypto to restrict their dealings with the industry. ❌ Sometimes they want them to pivot more rapidly than those banks can afford to, as in the case of Silvergate. 14/.
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SCOOP🍨:). Trump admin is mulling other options to the "crypto council" promised in December, at least in part to resolve conflict between supporters within the crypto industry.
Out: Trump’s Crypto Executive Council 🙅♂️. In: Trump Crypto Summits ✅. @vronirwin reports .
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Straight As for the sixth semester in a row !✨!✨!✨! sorry I have to brag !! PTSD has traumatized my undergraduate experience and I’m proud as hell of my low income gay 3.8 GPA at UC Berkeley ass self 💕⚡️💕⚡️💕.
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❌ Its crypto business was 99.5% of the bank’s deposits in June 2022, but in January 2023, regulators told Silvergate to limit crypto deposits to 15% of total deposits. 🛑 This forced it to shut down its instant payments product, SEN, which was favored by crypto companies. 9/.
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💥 Also, if this is a rule, it may be violating the Due Process Clause, which restricts the government's ability to arbitrarily deprive entities of rights without proper procedures. 16/.
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In lieu of appointing a permanent chair by inauguration day, Trump chose Commissioner Caroline Pham to serve as acting chair without an announcement today. Pham has been a strong advocate of crypto and maintains close relationships with several people in the industry.
Trump chooses Caroline Pham to serve as Acting Chair of the CFTC Commission. He has 210 days to pick a permanent chair and have them confirmed by the Senate. 🪑. @vronirwin reports.
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🧢 Initially, Signature was also told to cap deposits from crypto companies at 15%. But some while later, regulators told it to get rid of its crypto business all together 🚫 - both in deposits and its own real time payments product, Signet. 10/.
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Contenders for CFTC chair are going to Mar-a-Lago today and tomorrow👀 get caught up on who's in the running:.
Who Will Be Trump’s CFTC Chair? There’s a New Top Contender for the Role. If cryptocurrencies are declared commodities, the CFTC could have a lot of influence over the industry. by @vronirwin (link below)
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New policies must first be proposed and opened for public comment, according to the APA. 💥 If this cap is uniform enough, and consistent enough, to constitute a policy, then it violates the APA. 15/.
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☠️ Cross River Bank is a little unique. Their specialty is payments. So, regulators didn’t target deposits;—they targeted payment settlement. CR wasn’t given a %. Instead, regulators told them not to service specific crypto companies 👀. 13/.
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The EO says the administration will not be buying additional cryptocurrency (for now).
Trump establishes Strategic Bitcoin Reserve AND Digital Asset Stockpile in Executive Order ✍���. @vronirwin reports.
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🧢 Western Alliance Bank has also been pressured to cap crypto deposits, though any exact percentage remains unknown. However, sources familiar with the matter say they were told to keep crypto deposits low ⬇️. 12/.
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🧢 Customers Bank began limiting its crypto deposits to 15% of its overall deposit base in Feb 2023. Sources said that was also at the request of regulators. 🫵. 11/.
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Trump’s World Liberty Financial scooped up roughly $2 million worth of Movement’s MOVE tokens minutes before a report that the project might be discussing blockchain use with Elon Musk’s Department of Government Efficiency team. totally not suspicious at all.
Trump’s crypto project @WorldLibertyFi bought about $2 million worth of MOVE tokens as news about D.O.G.E. team being in discussions with Movement contributors leaked. Movement co-founder @RushiManche told Unchained he couldn’t confirm whether any discussions had taken place.
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Latest video with @amandatums.
Are Money Transmission Laws Putting Crypto Developers at Risk?. Amanda Tuminelli, chief legal officer at the DeFi Education Fund, unpacks the implications of Section 1960 and the Tornado Cash case, highlighting how evolving interpretations of money transmission laws could
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@kickthetj @Jay_qualine Meanwhile, at Berkeley, we have rampant grade deflation and are yearly ranked as having the most stressed students in the country. We love that!.
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We've updated the story with the complete White House document, which also includes Jonathan Gould as nominee to lead the OCC, John Hurley as Under Secretary for Terrorism and Financial Crimes, as well as numerous non-crypto related roles.
BREAKING: Crypto Expert Brian Quintenz of Andreessen Horowitz Selected to Lead the CFTC.
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Crypto X can be a bit of an echo chamber. fact-checking the online narrative again.
Crypto thought the new FDIC’s Republican leadership confirmed the existence of Operation Chokepoint 2.0. But people who have met with him said he’s not completely convinced 🤔. @vronirwin reports.
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Drunk white man my fathers age just tipped me $20 at my DJ gig for playing SICKO MODE and is now loudly yelling every lyric and moshing alone in the middle of the dance floor.
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.@ColosseumOrg, the company which took over hackathons for the Solana Foundation earlier this year, announced a $60m fund investing in @solana ecosystem projects. Co-founders are @mattytay, @crabbylions and @n8levine . #cryptocurrency #crypto #sol.
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When you start dating a girl and want to apologize to all your ex boyfriends because you realize the main issue with all of them is that they were male.
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by me :).
Trump Says He Is Ending ‘Operation Choke Point 2.0’. After the first White House Crypto Summit, the OCC, a bank regulator, issued guidance reversing its previous stance on cryptocurrency. ↩️ .
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Why does every white mom in Berkeley look like Elizabeth Warren.
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Joe Biden is that high school teacher that played Top 40 music before class and graded easy because he wanted to seem "cool" but uncomfortably complemented girls at prom and fb friended you when you graduated.
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My question is then, is there really a big difference between wealthy parents who enroll their kids in thousand-dollar SAT classes, have college admissions coaches write their essays, and have tutors do their homework for four years of high school?.
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SCOOP 🍨: I have obtained a recent draft of the GENIUS Act. This draft, which could be updated through the weekend, would be introduced as an amendment in the nature of a substitute after the procedural vote next week. It includes many of the updates described in the memo
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feeling very honored to receive the 3rd annual BMI founders award ! thank you @bmi and @Conclave #Conclave43 🎙
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Yo fuck this ND pulling LGBT people from the senior issue is so fucked.
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This is true - it's not official until there's an announcement. If you read the article, our reporting says that Trump has asked Atkins but Atkins has not yet accepted. Another outlet is reporting that Atkins is reluctant to accept, which I have not been able to confirm.
Lots of people asking me if the reports about Paul Atkins being picked to be the next @SECGov Chair are true. I’ll say this: It’s not confirmed until we see the official announcement from @realDonaldTrump himself. But, I stand by my earlier reporting.
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RIP my mentions (Pt 2).
Ripple pitched SOL as part of a national reserve in order to make the inclusion of XRP in a reserve seem more legitimate, according to sources familiar with the conversations. @vronirwin reports.
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There is so much going on in crypto policy right now and I am just about bursting with story ideas. do I start a newsletter?.
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Can confirm: ran into a whole gaggle of folks with SWC pins while on Capitol Hill today. 👀.
SWC x @COINBASE IN WASHINGTON, DC. STAND WITH CRYPTO DAY - MAY 14. 60+ FOUNDERS, 26 STATES, 15 SWC CHAPTER PRESIDENTS. MAKING THEIR VOICES HEARD IN SUPPORT OF CRYPTO LEGISLATION
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@lex_node Fwiw, I scooped this story a month ago and this push to get stablecoin & market structure legislation passed at the same time. seems to be working out so far?
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Just watched an elderly man with an oxygen tank and wheel chair have to walk away from the pharmacy counter because he didn’t have the money to pay his prescription. Multiple people tried to pay for him, but he was too embarrassed to really respond. What world are we living in?.
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So my asshole ex boyfriend just walked into where I work and is gonna be my coworker all summer HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA 🙃🙃🙃🙃🙃🙃🙃🙃🙃.
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@HereAndNowOK I cannot name my sources because they spoke under the condition of anonymity. That said, I can tell you we (me and my editors and, in this instance, my cowriters) always know who the people are and make sure we understand how they know the information.
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How do I run around campus for 12+ hours when I'm in school but come home from a sedentary 9-5 feeling like a piece of moldy-ass cheese?.
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for the ones who doubted me last week (with love ♥️):.
🚨NEW: @SenWarren is now all but guaranteed to be the Ranking Member on the Senate Banking Committee next year as @SenSherrodBrown exits and @MarkWarner confirms he plans to stay on the Senate Intel Committee. @SenatorTimScott will be the likely choice for Chair.
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SCOOP 🚨: @CFTC Commissioner Summer Mersinger will be the new CEO of the @BlockchainAssn. Mersinger will step down from her role at the CFTC at the end of this month and join BA on June 2nd.
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Woodhull is arguing against the constitutionality of FOSTA—saying that it creates a “silencing” effect online in violation of the First Amendment. This is a huge success for sex worker and first amendment activists in the fight against #FOSTA and #SESTA.
📢 BREAKING: Today the D.C. Circuit Court of Appeals revived Woodhull‘s #FOSTA challenge. The court ordered that the constitutional challenge be sent back to the district court. Give to our legal fund to keep the fight going: ⚖️.
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Does anybody else feel like an exhibit in a museum every time they walk by a college tour?.
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Update!!!.
SCOOP: A White House official just confirmed that there will be "no proposed EO on this topic [fed master accounts] at this time." 😲. @vronirwin reports.
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This article has been updated to reveal the source: Stand With Crypto Executive Director Logan Dobson himself. I know this is probably confusing for readers, so I want to walk you through what happened 🧵. 1/.
👀 A source inside Stand With Crypto described the wishy-washy process of how it grades politicians. @vronirwin reports.
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As a cat owner this is very exciting news.
🐱Cat-themed memecoins such as POPCAT are catching up to some of their 🐶 dog-based brethren. @httpsageyd reports.
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Swing state news alert 🚨. (The text of the bill doesn’t say “bitcoin” btw).
Pennsylvania’s House of Representatives 🗳️ just passed a bill that protects the use and self-custody of digital assets by its residents 👀. @vronirwin reports.
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At my work, when my boss’s door closed, that means you’re not supposed to bother him. Today I looked in his window and found his door was closed for 30 minutes so he could dance by himself in his office to Kodak black. I’m dead ☠️.
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At this conservative wedding and they straight-up told me that if I marry a woman I’m going to hell and none of them would ever come to my wedding. But they “still love me,” even if they “don’t respect my choices.” I hate Florida.
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What’s harder than finding a needle in a haystack? Finding my drunk mom in the graduation crowd.
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@monaeltahawy Exactly! I can't help but notice how quickly these Republican senators are to scold women and people of color but are nowhere to be found when it's time to criticize Trump.
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Found $15 in a jacket I definitely haven’t touched since high school. is this what they call “old money?”.
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Extra-newsworthy now 😅.
Prediction markets were vindicated last week after @polymarket accurately predicted the outcome of the presidential election. But will it continue to be as successful after the election? 👀. Watch @vronirwin's full interview with Parafi Capital’s @anjan_vinod
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I decided to stay inand have a me night and so far I've spent $70 on lingerie and watched a full hour of Avril Lavigne music videos.
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There’s an older white woman walking up and down Telegraph rn with a sign that says “increase black women” . ????.
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Getting older is finally caring about New Years resolutions because you need every chance to start over you can get.
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If you've been wondering whatever happened to that rumored executive order on fed master accounts - I got the scoop 🍨.
Trump may not be able to deliver on his anti-Operation Choke Point 2.0 promises 👀 . @vronirwin reports .
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RIP my mentions.
A White House source says Charles Hoskinson is not invited to the crypto summit Friday. 👀. By @vronirwin .
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Guy across from me in study lounge is chewing tobacco directly from a cigarette and spitting it on the table. k?.
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When I first got hired, I used Stand With Crypto as a cheat-sheet to get up to speed. But after looking into their scoring process, I’m a lot less confident in using it than I was a few weeks ago….
👀 A source inside Stand With Crypto described the wishy-washy process of how it grades politicians. @vronirwin reports.
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I managed to go to a festival where Frank didn't cancel, and his crowd was still ungrateful. Frank, however, was wonderful.
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Thank you so much @hunnypotlive for letting me spin! And hit the DMs if you know someone who needs a DJ. I’m fiending for more!
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This. this is how Berkeley gets ranked as #1 again. Let’s get those batteries running.
Scientists Develop Device To Transform Stress Into Electricity. Click to read more
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One of my subordinates just told me he wouldn’t follow directions until he watched me kiss a girl. That he wouldn’t do his job unless he worked for the “hot type of dyke.” Because, “why else would I take direction from a woman?” He was only half joking. This is 2018.
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I'm going on a date with a boy I've been obsessed with for literally a year I'm SCREAMING.
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BREAKING: Kalshi users will be able to bet on the 2024 election.
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Therapist: and what do we say when we feel like this?. Me: Abolish ICE, impeach the president, get rid of capitalism, destroy white supremacy, there’s no prosperity without equality and self care is a neoliberal myth, everything is a construct so we’re all just pe-. Therapist: no.
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Pro-Crypto PAC Fairshake has spent over $40 million on efforts to unseat Democratic Ohio Senator @SenSherrodBrown. 💸💰. Ironically, that could give someone even more anti-crypto — Elizabeth Warren — the power to block crypto legislation.😱. 1/.
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