Consensus 2024: Crypto Enthusiasts Discuss Blockchain Trends Amidst Historical Presidential Conviction
Summary:
Consensus 2024, a major blockchain and cryptocurrency conference in Austin, Texas, was a hotbed of discussions ranging from digital assets regulation to presidential campaign issues. The event saw many industry leaders, including key government officials in attendance. It featured discussions on recent crypto legislation, SEC's approval of Ether exchange-traded funds, and President Joe Biden's veto threat. The conference also bore witness to former U.S. President Donald Trump's felony conviction announcement. The event saw a blend of typical and unexpected scenarios – from pranks to costume attendees, making it a notable gathering for crypto enthusiasts. The next edition of Consensus will be held in Toronto.
From May 29 to 31, Austin, Texas became a hub for blockchain and cryptocurrency enthusiasts who were attending the yearly Consensus conference. But amid the many discussions surrounding digital currencies, one significant announcement managed to shift everyone's attention. Consensus 2024 had a lot to offer, with numerous key players from different industries, including government officials, gathered under one roof. Big-ticket issues discussed include the recent approval of the Financial Innovation and Technology for the 21st Century Act by the U.S. House of Representatives, SEC's green light for Ether (ETH) exchange-traded funds, President Joe Biden's threat — and eventual implementation on the conference's final day — of a veto against an SEC rule reversal on banks dealing with cryptocurrencies, and the growing role of digital assets like Bitcoin (BTC) in the upcoming 2024 presidential race. The conference also saw a mix of quirky and unexpected events. A prank targeting JPMorgan Chase CEO Jamie Dimon suggested he was set to talk about cryptocurrencies following a purported drug-induced revelation. Consensus 2024 attendees also enjoyed a view of the iconic DeLorean from the 1985 film Back to the Future and vied for a chance to win a Ford Mustang by holding onto a horizontal bar for the longest time. As expected, there were attendees in costumes to represent a brand or support a cause.
In a dramatic twist, news broke out on May 30 that former U.S. President Donald Trump had been convicted by a jury of 34 felony charges — all related to false business documentation connected to a $130,000 payment to adult actress Stormy Daniels. This development marked the first-ever conviction of any sitting or former U.S. President. Responses to Trump's conviction were diverse. Although hesitant to share his thoughts initially, Independent presidential candidate Robert F. Kennedy Jr. eventually dubbed the verdict as “profoundly undemocratic.” Other reactions, like Massachusetts Senate candidate John Deaton's, noted that the verdict might fuel further divisions in the country.
Trump, meanwhile, recently shifted his stance on cryptocurrencies, saying he was ambivalent about them. He announced on May 21 that his campaign would accept donations in digital assets, which seemed to be a response to his supporters' suggestions in a dinner focusing on non-fungible tokens. Despite his plans, Trump still faces massive liabilities from civil lawsuits accusing him of fraud and defamation.
On the same day as Trump's conviction, Consensus participants were also discussing regulatory matters. Panel seats were filled with representatives from the SEC, the Commodity Futures Trading Commission, and various U.S. lawmakers. Despite a less crowded Austin Convention Center by May 31, attendees remained enthusiastic about the event's subject matter.
In sum, the Consensus 2024 event provided a unique opportunity for the crypto community to witness a historical occurrence and ponder its potential impact on their industry and future regulations. The next Consensus event will take place in Toronto, marking its first time outside of Austin.
Published At
6/4/2024 10:00:04 PM
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