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Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming
Cynthia Lummis, a former U.S. Representative and current bitcoin advocate, has won her primary race to join the U.S. Senate representing Wyoming.
By Nikhilesh De
Updated Sep 14, 2021, 9:45 a.m. Published Aug 19, 2020, 4:06 p.m.
Cynthia Lummis, a former U.S. Representative and current bitcoin advocate, has won her primary race to join the U.S. Senate representing Wyoming.
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- Lummis beat nine other Republican candidates on Aug. 18, and has now advanced to the general election against Democrat Merav Ben-David. Lummis is favored to win in a "Solid Republican" district, according to the Cook Political Report.
- Lummis previously told CoinDesk she has been interested in bitcoin since at least 2013, seeing it as a stable source of value, unlike the U.S. dollar.
- Lummis served in the U.S. House of Representatives between 2009 and 2017.
- Should Lummis win, she may become one of the most crypto-friendly lawmakers in the legislative body.
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Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
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