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⌐◪-◪ → President Biden has officially dropped out of the race, which he announced via a post on X yesterday.

Polymarket bettors called it before anyone else, giving Biden a 10% chance of dropping out before his horrendous debate performance. Well, except for “AnonBidenBull” who lost $2M betting on Biden.

Meanwhile, the mainstream media lied to the public and insisted Biden was totally fine and that his declining health was just a conspiracy theory.

This signals a massive shift in the way news is reported and distributed.

We are moving away from the existing top-down system, dominated by mainstream media, and towards a bottoms-up system, centered around social media platforms that stand for free speech like X and prediction markets like Polymarket.

TL;DR: Ignore the talking heads, and trust the market.

Thank you for your service, President Biden. May your retirement be full of quality time with your family and lots of ice cream. 🫡

⌐◪-◪ → Trump is considering Larry Fink (CEO, BlackRock) for U.S. Secretary of the Treasury.

Another option is Jamie Dimon (CEO, JPMorgan), who has “changed his tune” on Bitcoin, according to Trump.

Of the two, I suppose I prefer Larry Fink simply because he actually supports crypto and is one of the leading forces behind TradFi’s recognition and adoption of crypto.

The real question isn’t which one of them Trump will pick, but rather, will they declare Bitcoin a strategic reserve asset?

If I were you, I’d pay close attention to Trump’s speech at the Bitcoin Conference in Nashville later this week.

Let me know if you’re going to Nashville!

⌐◪-◪ → Hong Kong is launching Asia’s first inverse Bitcoin ETF tomorrow, letting anybody bet against Bitcoin via traditional markets.

While the U.S. has certainly made a lot of progress with crypto over the last year with ETFs, regulatory clarity, and general political awareness/emphasis — I have to commend Hong Kong for leading the way with crypto ETFs.

Hong Kong has issued tokenized green bonds, was early on spot Bitcoin ETF futures, launched an Ethereum ETF before the U.S., and might be adding staking soon too (which is still up in the air in the U.S.).

Kudos to Hong Kong for paving the way in crypto for not just Asia, but the entire world!

In my opinion, the crypto competition between the U.S. and Hong Kong is a good thing — it promotes decentralization and accelerates ur transition to a future powered by blockchain.

The Great Bitcoin Race continues.