Reports indicate that the White House has developed a ranking system for companies based on their support for the 'Big and Beautiful' bill. Cryptocurrency markets are showing volatility, partly linked to legislative changes.
Company Rankings for Bill Support
According to the Daily Telegraph, the White House assessed 553 companies, assigning them high, medium, or low partner status in supporting the 'Big and Beautiful' bill. Among top supporters are Uber, DoorDash, United Airlines, Delta Air Lines, Airlines for America, AT&T, and Cisco. However, these categorizations remain unconfirmed by any official statements from the listed companies or the White House.
Cryptocurrency Market Volatility
On August 16, the cryptocurrency market experienced significant volatility. Amidst this, many market participants began discussing the implications of corporate power on government policy. Ethereum (ETH) is trading at $4,416.52, with a slight 24-hour decrease of 0.11%.
Market Analysis and Impacts
The introduction of the company ranking system may influence market dynamics by aligning corporate actions with legislative goals. While such rankings are not unprecedented in the corporate world, their impact on major crypto assets and DeFi protocols remains uncertain. Short-term shifts in the regulatory environment may occur, but technological advances in blockchain continue unaffected.
The White House's corporate ranking system raises questions about transparency and the influence of business on policy while the cryptocurrency market continues to exhibit volatility, independent of legislative processes.
