COINDESK DAILY: Trump Leads Harris on Polymarket After Musk Endorsement; Tether Celebrates 10-Year Birthday
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 October 2024
⏱️ 2 minutes
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Summary
Host Christine Lee breaks down the news in the crypto industry including Elon Musk's endorsement of Trump to Tether's new moves in Europe.
"CoinDesk Daily" host Christine Lee breaks down the biggest headlines in the crypto industry today, as Donald Trump is leading Democratic rival Kamala Harris by 3 percentage points in Polymarket's election contract following Elon Musk's endorsement. Plus, Tether is developing a customized stablecoin solution to adhere to regulatory requirements in Europe and the UAE has exempted all crypto transactions from having to pay value-added tax.
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This episode was hosted by Christine Lee. “CoinDesk Daily” is produced by Christine Lee, Jennifer Sanasie, Melissa Montañez and edited by Victor Chen.
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Transcript
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| 0:00.0 | Trump leads Harris on Polymarket and happy birthday tether. |
| 0:04.0 | This is Coinast Daily. I'm your host, Christine Lee. |
| 0:11.0 | Republican presidential candidate Donald Trump is leading Democratic rival Kamala Harris by three percentage points in Polymarkets election contract. |
| 0:20.0 | This comes after Tesla founder |
| 0:22.1 | Elon Musk endorsed the former president at a rally over the weekend. Must saying on stage at a rally |
| 0:28.1 | in Butler, Pennsylvania, that, quote, I am not just MAGA, I am dark MAGA. He also showed his love |
| 0:34.5 | to prediction markets on X, calling them more accurate than polls |
| 0:37.8 | because, quote, actual money is on the line. Tether is developing a customized stable coin |
| 0:43.6 | solution to adhere to regulatory requirements in Europe. After Coinbase denounced they would |
| 0:48.8 | delist non-MECA compliant stable coins in the EU, including Tether by year end, Tether told Coin desk, quote, |
| 0:55.4 | some aspects of MECA make the operation of EU licensed stable coins more complex and potentially |
| 1:00.9 | introduced new risks to both local banking infrastructure and stable coins themselves. |
| 1:05.8 | To address these challenges to support users in the region, Tether is developing a technology-based |
| 1:10.5 | solution which we will unveil in due course and will be tailor made to serve the challenges to support users in the region, Tether is developing a technology-based solution, |
| 1:11.1 | which we will unveil in due course and will be tailor-made to serve the necessities of the |
| 1:16.1 | European market. Tether represents about 70% of the US-dollar-backed stablecoin market |
| 1:21.0 | with $120 billion in market capitalization and is celebrating its 10th anniversary. The United Arab Emirates has exempted all crypto transactions from having to pay value-added tax. |
| 1:34.3 | The change is set to take effect on November 15th and will apply retrospectively to transactions from as far back as 2018. |
| 1:42.3 | The exemption makes clear for the first time that the tax doesn't apply |
| 1:45.8 | to digital assets, bringing the industry in line with several traditional financial services. |
| 1:50.4 | That's it for CoinDest Daily. Get more updates on CoinDest.com, and I'll see you next time. |
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