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Crypto-backing billionaire Peter Thiel refuses Trump’s plea to donate to his 2024 campaign

Crypto-backing billionaire Peter Thiel refuses Trump’s plea to donate to his 2024 campaign
Peter Thiel says no campaign donation this time around. Credit: Roger Askew/Shutterstock

Peter Thiel just says no to former President Donald Trump’s campaign donation call.

Meanwhile, Swiss money manager UBS will allow three crypto-linked ETFs to trade on its Hong Kong platform; Celsius will exit from bankruptcy; and the UAE is cracking down on unlicenced crypto operators.

Read on!

Thiel won’t donate in 2024 election

Billionaire venture capitalist Peter Thiel, co-founder of PayPal and crypto investor, said he refused in a phone call to donate money to Donald Trump and doesn’t plan to support any political candidates in the 2024 election campaign, The Atlantic reported in a lengthy interview.

Thiel, who previously supported Trump, said: “Voting for Trump was like a not very articulate scream for help,” later adding, “There are a lot of things I got wrong.”

He told The Atlantic: “They couldn’t get the most basic pieces of the government to work. So that was — I think that part was maybe worse than even my low expectations.”

UBS allows Hong Kong crypto ETFs

Swiss wealth manager UBS Group will allow trading of three crypto-linked exchange-traded funds on its Hong Kong platform, Forkast News reported.

Clients with more than $2 million in investable assets will be allowed to trade the ETFs, which were authorised by the Securities and Futures Commission through UBS Hong Kong.

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Celsius OK’d to exit bankruptcy

Crypto lender Celsius Network’s restructuring plan was approved by US Bankruptcy Judge Martin Glenn in Manhattan; it will return crypto to customers and create a new company owned by Celsius creditors, Reuters reported.

The reorganised business will focus on mining Bitcoin and earning staking fees by validating blockchain transactions. It will be managed by Fahrenheit, a consortium that includes hedge fund Arrington Capital, the report said.

Faction investing in early-stage crypto

Blockchain-focused venture capital company Faction Ventures launched an inaugural $285 million fund, TechCrunch reported.

Faction, which has already invested about 20% of its capital, will look to put money into early-stage blockchain projects raising seed or Series A rounds.

UAE cracks down on unlicenced crypto

The UAE is implementing measures to crack down on unlicensed cryptocurrency companies, CoinMarketCap reported.

UAE financial regulators and the central bank published guidance outlining civil and criminal penalties for virtual asset service providers working in the country without proper licensing.

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