Seeds of Wisdom RV and Economic Updates Friday Morning 8-23-24
Good Morning Dinar Recaps,
LIVE: Fed Chair Jerome Powell speaks at the 2024 Jackson Hole Economic Policy Symposium — 8/23/2024 AT 10:00 AM EDT
Federal Reserve Chair Jerome Powell speaks at the central bank’s annual Jackson Hole conference on the economic outlook on Friday. That will follow minutes from the Fed’s July gathering released Wednesday. They indicated that most participants at the central bank’s meeting said it would “likely” be appropriate to lower the fed funds rate from the current range of 5.25% to 5.5% at the September meeting — if data continues to come in as expected.
@ Newshounds News™
Watch Live Here: BENZINGA
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Crypto Expert Warns: 95% of XRP Holders May Miss Out on Generational Wealth – Here’s Why
Edoardo Farina, CEO of Alpha Lions Academy, advises XRP holders to focus on long-term potential.
Farina stresses the importance of securing digital assets and suggests using cold wallets to protect investments.
Edoardo Farina, CEO of Alpha Lions Academy and Head of Social Adoption XRPHealthcare, recently addressed XRP holders during Istanbul Blockchain Week with a cautionary message. Farina, a notable figure in the cryptocurrency sector, emphasized the importance of patience and strategic thinking in maximizing the potential of XRP investments.
Farina pointed out that a lot of XRP holders are only in it for the quick buck, and they grow impatient with the price volatility of the cryptocurrency. He pointed out the difficulties of XRP investors but emphasized that the main thing is to focus on the long-term strategy.
“Unfortunately, a lot of XRP holders are losing their patience, and I totally understand that it has been quite a journey,”
Farina stated. He encouraged investors to forget the short-term fluctuations in the market and focus on the long-term process of building wealth through crypto-currencies.
Farina Compares XRP Investment to Marathon Running
Farina further stated that XRP can make one rich but this process is among the longest and most frustrating of all. He compared the process to running a marathon and explained that people should not expect too much from the market too soon.
Farina also focused on the issue of investment as one of the critical factors that need to be considered. He told the XRP holders not to allow digital currency to define their lives and that they should find other ways to make money.
As noted by Farina, this approach helps in avoiding biases and minimizes the stress of monitoring the market on a daily basis.
Farina also pointed out the need to protect digital assets as well. He advised that XRP investors should keep their investments in cold wallets to avoid exposing them to risks on the internet. He emphasized that it is crucial for the protection of investments in the long run.
“Have your 10,000 XRPs or whatever number you want to hold,” Farina advised, warning that frequent trading could lead to missed opportunities. He stated that buying and keeping XRP in the midst of market volatility will be profitable once its value rises.
XRP’s Potential to Disrupt Global Finance
Farina’s optimism about XRP is based on the fact that this cryptocurrency is capable of revolutionizing the world’s financial systems. He noted that XRP could take a large share of SWIFT’s transactions that amount to 10 quadrillion dollars. This means that even a small percentage of this market could lead to a massive surge in the value of XRP.
“Just imagine what will happen when XRP captures one percent of SWIFT’s 10 quadrillion in transactions,” Farina said. He argued that those who can remain patient and stick to a well-thought-out strategy could achieve generational wealth.
In his message to the XRP community, Farina emphasized the principles of restraint, planning, and prudence. He advised investors to ignore short-term fluctuations in the market and consider the long-term value of their investments.
@ Newshounds News™
Source: Crypto News Flash
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Franklin Templeton expands blockchain fund to Avalanche network
Franklin Templeton has expanded its pioneering blockchain-integrated money market fund to Avalanche, broadening institutional investor access to digital finance.
Franklin Templeton, a global asset management firm, has expanded its Franklin OnChain US Government Money Fund to the Avalanche network.
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According to a press release shared with Cointelegraph, the expansion to the layer-1 blockchain will be the “first-of-its-kind onchain money market fund” on Avalanche.
The fund, which launched in 2021, allows institutional investors access to Franklin Templeton’s blockchain-integrated record-keeping system, Benji Investments.
“[Investors] may hold their wallets on the Avalanche network upon request and subject to eligibility.”
The decision to expand to Avalanche
Franklin Templeton’s decision to expand to Avalanche builds upon its existing digital asset initiatives, which can be seen in the firm’s digital assets teams’ focus on blockchain technology since 2018.
In the press release, Ava Labs president John Wu stated that he was “thrilled” to see the fund expand to the Avalanche network:
“Franklin Templeton shares a mutual commitment to developing transformative digital financial products and services that will meet onchain investor demand today and bring offchain capital and users into the ecosystem tomorrow.”
In a written Q&A with Cointelegraph, Wu explained the significance of the expansion of the fund into the Avalanche ecosystem, describing it as a “foundational piece.”
“Blockchain and tokenization enable traditional finance to more easily reach people and businesses, offering new capabilities that are not possible via traditional rails.”
Franklin Templeton ETF filing
On Aug. 16, the global asset management firm applied to the United States Securities and Exchange Commission to launch a new exchange-traded fund (ETF).
The new ETF — the Franklin Crypto Index ETF — is designed to be a one-stop-shop crypto portfolio and to track the performance of the CF Institutional Digital Asset Index.
Katalin Tischhauser, head of investment research at Sygnum, explained that the “next logical step” is index ETFs because “indices are efficient for investors.”
Fund launch on Arbitrum
On Aug. 8, Franklin Templeton also announced the launch of the fund on Arbitrum, which aims to bridge traditional finance and decentralized finance.
Users of the fund on the Benji Investments platform can acquire and hold its tokenized shares on Arbitrum to generate low-risk investment yields.
With the addition of the Avalanche network to the fund’s expansive efforts, Franklin Templeton now offers tokenized shares on Avalanche, Arbitrum, Stellar and Polygon.
@ Newshounds News™
Source: Cointelegraph
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