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Crypto's New Party Lines

Posted May 06, 2025

Today's Tech FWD

By Today's Tech FWD

Crypto's New Party Lines

Davis Wilson:

House Democrats Walk Out on Digital Assets Hearing Over ‘Trump’s Crypto Corruption’

House Democrats staged a walkout of a digital assets-focused hearing on Tuesday, with party leadership threatening that President Trump’s personal crypto ventures could derail bipartisan support of pending crypto legislation. 

House Financial Services Committee ranking member Maxine Waters (D-CA) led the charge, objecting at the outset to the hearing’s convening. A dramatic scene then ensued, with Democrats including Rep. Stephen Lynch (D-MA) yelling out a list of crypto-related profits the president has reaped while in office, and House Republicans shouting over them to stop. 

Moments before the walkout, Waters told Decrypt that the objective of the stunt was to force language into pending stablecoin and market structure bills that would prevent the president from engaging in crypto ventures while in office.

Today’s hearing was initially supposed to focus on a newly revealed draft of the House’s market structure bill, which would create a framework for U.S. regulation of most digital assets. The bill, in its latest form, would end SEC oversight of most top crypto tokens.

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Chris Campbell:

Tech Games: Elon Musk Wins As Sam Altman’s Open AI Drops Full-Profit Shift for Now

After months of internal debate, external lawsuits, and executive reshuffling, OpenAI announced on Monday that it will stick with its current nonprofit structure for now. The decision comes after OpenAI CEO Sam Altman tried to shift the company’s structure to a full for-profit model in order to achieve greater financial flexibility and attract major investors.

That effort has now been paused—though not entirely scrapped. Instead of converting the entire company into a traditional for-profit corporation, OpenAI will now transform its commercial arm into a Public Benefit Corporation (PBC). This entity will still be controlled by OpenAI’s nonprofit board, which remains the company’s highest authority.

The main reason behind the ongoing push to drop its nonprofit structure comes down to one thing: money. Being a nonprofit limits OpenAI’s ability to raise capital. The nonprofit model also prevents the company from maximizing investor returns, which has turned off some deep-pocketed backers.

But the push to go for-profit faced strong opposition from multiple directions – including from Elon Musk, who co-founded OpenAI.

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James Altucher:

Everything Doctor's & Hospitals are Afraid to Tell You

In this episode of The James Altucher Show, James reconnects with Dr. Marty Makary, now heading the FDA, to discuss what’s broken in the American healthcare system—and what can actually be done about it. 

Marty pulls back the curtain on the realities of medical pricing, why unnecessary surgeries happen more often than most suspect, and how medical education is failing future doctors and patients alike. 

They explore the origins of Marty’s bestselling books, the TV adaptation of Unaccountable, and why your hospital bill may have little to do with actual care. 

This conversation is a rare window into what’s really happening inside hospitals and policy rooms—and what the future of smarter, more humane healthcare could look like.

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Musk’s Lost OpenAI Dynasty

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