Seeds of Wisdom RV and Economic Updates Friday Afternoon 11-15-24

Good Afternoon Dinar Recaps,

CRYPTO LEADERS UNITE FOR DESCI: A NEW ERA OF SCIENCE WITH BLOCKCHAIN

▪️DeSci movement seeks to make scientific research more open, fair, and accessible.

▪️Prominent figures like CZ, Vitalik, and Brian Armstrong are actively supporting DeSci's goals.

▪️DeSci can improve scientific funding, democratize research, and foster greater collaboration within the scientific community.

Decentralised Science is now one of the most sensational topics in the cryptocurrency world. Its goal is to make science more open, transparent, and accessible, while solving long-standing issues such as limited funding and lack of data-sharing in the scientific community.

Some of the biggest names in crypto, including Binance Co-Founder Changpeng Zhao, Ethereum Co-Founder Vitalik Buterin, and Coinbase CEO Brian Armstrong, have publicly supported DeSci.

Let’s explore what this movement is all about.

Crypto Leaders Back DeSci
Reports show that crypto leaders like Zhao, Buterin, and Armstrong believe that DeSci has the potential to transform the scientific world by tackling challenges such as funding shortages and restricted access to research data.

Changpeng Zhao: CZ is particularly interested in solving the funding issue for science. He is looking into how blockchain technology can be used to create new ways to fund research. Blockchain’s transparency and security could open up fresh opportunities for financing scientific projects.

Vitalik Buterin: According to reports, Vitalik is keen to make the environment of scientific research more democratic in nature. He is likely to promote the usage of tools like quadratic funding and DAOs.

Brian Armstrong: Coinbase CEO Brian Armstrong is also a strong advocate for DeSci. Recent reports reveal that Coinbase has backed ResearchHub, a decentralized platform that encourages open sharing and collaboration in science. Armstrong’s support highlights his commitment to making scientific research more open and accessible.

Changing the Future of Science
The DeSci movement could play a major role in overcoming some of the most pressing issues in science. From funding shortages and data-sharing problems to publishing challenges, DeSci offers innovative solutions that could improve how science is conducted and shared.

With support from influential crypto leaders, DeSci has the potential to transform how scientific research is funded and shared. This is certainly something to look forward to!

@ Newshounds News™

Source: Coinpedia 

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TRUMP NOMINATES FORMER SEC CHAIR AS SDNY ATTORNEY

Trump nominates Jay Clayton to lead the highly influential office.

A familiar figure who enforced securities regulations against the crypto industry under the previous Trump Administration may soon find himself back in power, this time as a chief federal prosecutor.

What’s the Scoop?

Presidential Appointment: 

In an announcement to Truth Social followers on November 14, President Elect Donald Trump made public his intention to nominate former Securities and Exchange Commission (SEC) chair Jay Clayton as U.S. Attorney for the Southern District of New York.

Key Enforcer:  

Notably, the SDNY jurisdiction encompasses Manhattan; the trial district has long been one of the most active in the United States and often decides matters related to American financial institutions and the prosecution of white-collar crime.

Bankless Take:
Trump presented himself as crypto’s champion on the campaign trail, but Clayton’s appointment as U.S. Attorney for a key federal prosecutorial district has offended many within the industry. 

While crypto participants remain optimistic for the impending Trump Administration embrace, Clayton’s appointment threatens to increase enforcement actions against blockchain-based issuers of unregistered security products.

This Newshound agrees with Bankless on this appointment!

@ Newshounds News™

Source:  Bankless

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US ATTORNEY'S OFFICE FOR THE SOUTHERN DISTRICT OF NEW YORK TO PARE BACK CRYPTO-RELATED CASES: REUTERS

▪️The U.S. Attorney’s Office for the Southern District of New York has brought a number of high-profile cases, including against former FTX CEO Sam Bankman-Fried.

▪️The news comes a day after President-elect Donald Trump tapped Jay Clayton to lead that office.

The U.S. Attorney's Office for the Southern District of New York, a prominent and powerful court that has brought numerous high-profile crypto-related cases, plans to cut back on cases related to crypto, according to one of its top prosecutors.

That doesn't mean prosecutors there will disregard crypto cases, but fewer people will be working on them compared to 2022, Scott Hartman, co-chief of the securities and commodities fraud task force at the Manhattan Court said during a Practising Law Institute conference on Friday, according to reporting from Reuters.

"You won't see as much crypto stuff coming out of at least the SDNY in the future," Hartman said at the conference.

Prosecutors in Manhattan brought several high-profile cases against crypto industry players including against former FTX CEO Sam Bankman Fried and Celsius founder Alexander Mashinsky. Both firms filed for bankruptcy in 2022.

Hartman's comments come a day after President-elect Donald Trump tapped Jay Clayton to lead that office as Attorney for the Southern District of New York.

Clayton previously served as chair of the U.S. Securities and Exchange Commission from 2017 to 2020 and led the agency through the initial coin offering boom of 2017-2018. During that time, his office filed several high-profile lawsuits against prominent and lowly crypto projects. Before leaving the SEC, charges were filed against Ripple. 

The SEC accused the firm of raising $1.3 billion through the sale of XRP, which the agency says is an unregistered security. The case is ongoing after a New York judge gave both parties a partial win and both have filed appeals.

SDNY's Hartman also said on Friday that SDNY knows that its "regulatory partners are very active in this space." Both the U.S. SEC and the Commodity Futures Trading Commission have brought numerous cases involving crypto over the years, including against FTX, Binance and other crypto entities.

@ Newshounds News™

Source:   The Block

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Seeds of Wisdom RV and Economic Updates Friday Morning 11-15-24

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PRO-BITCOIN MATT GAETZ NOMINATED AS U.S. ATTORNEY GENERAL

Matt Gaetz, a Florida Representatives and American lawyer, has been nominated as Attorney General by President-elect Donald Trump. Gaetz was assigned due to his educational and career experience in law.

President-elect Donald Trump nominated Matt Gaetsz, pro-bitcoin and Florida representative, to be the next U.S. Attorney General. Following this nomination, he resigned from the House of Representative on Nov. 13, 2024.

According to the Nov. 13 X post, Trump praised Gaetz as a determined attorney committed to driving much-needed reform at the Department of Justice.

Gaetz expects to prioritize ending weaponized government, strengthening border security, dismantling criminal organizations, and exposing the potential of government corruption and weaponization.

“He is a champion for the constitution and the rule of law. Matt Gaetz will root out the systematic corruption at DOJ, and return the department to its true mission of fighting crime, and upholding our democracy and constitution.”

Elon Musk, recently appointed as head of Department of Government Efficiency (D.O.G.E), replied to his X post, congratulating Gaetz on his new role.

Matt Gaetz stances on crypto
Earlier this year, on June 25 as a member of Congress Gaetz introduced a bill advocating for Bitcoin to be accepted as payment for Americans for federal income tax. The bill was proposed after he visited El Salvador and aimed to modernize the U.S. tax system.

The aggressive move made would “promote innovation, increase efficiency, and offer more flexibility to American citizens.”

The proposal seeks to amend the Internal Revenue Code of 1986 to accept Bitcoin for tax payment and expand this payment option to other federal services.

Gaetz has also advocated for various crypto deregulations and pushed back against the federal agency’s oversight. He is arguing that the measure would stifle innovation and growth.

His appointment as an Attorney General highlights potential approaches to law enforcement and more flexible regulations within the crypto industry under the Trump presidency.

@ Newshounds News™

Source:  Crypto News

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CHINA COULD REASSESS CRYPTO BAN DUE TO TRUMP, HASHKEY CEO CLAIMS

HashKey Group Chairman and CEO Xiao Feng has indicated that China’s stringent stance on cryptocurrencies could soften within the next two years, influenced by the pro-crypto policies expected under US President-elect Donald Trump. Xiao believes that clear regulatory support in the United States could serve as a catalyst for China to reconsider its current ban.

Why China Could Reconsider Its Crypto Ban
“If the US Congress and the new president establish clear crypto policies and actively promote the industry, it would certainly be a driving force for China to accept cryptocurrencies,” Xiao stated in an interview with the South China Morning Post.

Xiao also pointed to geopolitical factors that might accelerate China’s acceptance of digital assets. The exclusion of Russia from the SWIFT financial messaging system by the US and its allies in 2022 has underscored the importance of alternative financial infrastructures.

 This move, part of sanctions related to the conflict in Ukraine, may prompt China to explore crypto more earnestly to safeguard its financial autonomy.

“Without these events, China might have needed five or six years to accept cryptocurrency businesses. Now, due to these factors, that timeframe could be shortened to two years,” Xiao explained.

Over the past several years, China has enforced a strict ban on initial coin offerings (ICOs), crypto trading, mining, and other related activities. Authorities have cited concerns over financial stability and the potential for illicit activities as primary reasons for the crackdown.

 Despite this, Hong Kong has been permitted to develop its digital asset industry, positioning itself as a potential bridge should mainland China relax its regulations.

Should China decide to re-engage with the digital asset market, Xiao suggests that regulated stablecoins could be the initial focus. “Stablecoins are currently the best solution for cross-border business-to-consumer trade,” he noted.

Supporting this view, HashKey conducted a survey in Yiwu, a major manufacturing and trade hub in mainland China. The survey revealed that nearly all merchants had received inquiries from international buyers about making payments using popular US dollar-based stablecoins such as USDT and USDC.

HashKey Group operates HashKey Exchange, one of Hong Kong’s three licensed crypto exchanges. The company plans to launch its own blockchain, the HashKey Chain, next month.

With over 300 employees in Hong Kong and additional teams in Singapore, Tokyo, Dubai, Bermuda, and Europe, HashKey is expanding its global footprint.

While the Chinese government has not indicated any immediate plans to relax its crypto ban, Xiao emphasized the importance of maintaining a strong presence in Hong Kong. “Only by staying in Hong Kong can we serve mainland China when that market opens up. We firmly believe that day will come,” he asserted.

@ Newshounds News™

Source:  Bitcoinist

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Seeds of Wisdom RV and Economic Updates Thursday Evening 11-14-24

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18 GOP AGS SUE SEC AS GENSLER HINTS RESIGNATION

Donald Trump’s promise of a U.S. SEC without Gary Gensler may be realized ahead of schedule amid state lawsuits and resignation chatter.

Wall Street’s top cop-on-the-beat has been accused of “unconstitutional overreach” and “unfair persecution” of the $3 trillion cryptocurrency industry, according to a lawsuit signed by 18 Republican Attorneys Generals.

The lawsuit alleges that the United States Securities and Exchange Commission and its commissioners, led by chair Gary Gensler, overstepped their jurisdiction and disregarded state economic autonomy.

Litigation from GOP AGs and states has added to the existing scrutiny of Gensler’s SEC career. Top lawmakers have opened an investigation into the SEC’s hiring practices amid suspicions of politically biased recruitment, which has spurred the inquiry.

Several members of Congress have called for his resignation, and Donald Trump has promised the digital asset industry that he would dismiss Gensler.

Is Gary Gensler retiring?
Social media is buzzing with speculation that Gensler might be on his way out as SEC Chairman. His comments in a note on Nov. 14, calling his time at the SEC “a great honor” and praising his colleagues for their dedication, have fueled rumors of a possible imminent retirement.

The SEC is a remarkable agency. The staff and Commission are deeply mission-driven, focused on protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.

Gary Gensler, SEC chair

He added that it’s been a privilege to serve with the SEC “doing the people’s work and ensuring that our capital markets remain the best in the world.”

A firm stance on crypto regulation has marked Gensler’s tenure at the securities regulator. Blockchain industry players increasingly anticipate changes in leadership and policy enforcement from the SEC after years of grappling with Gensler’s regulatory approach.

The SEC has ongoing court cases against firms like Coinbase and Ripple. As such, Gensler’s potential departure has become a focal point for speculation on how regulatory policies might shift under new leadership.

@ Newshounds News™

Source:  Crypto News

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Senator Lummis Proposes Selling Fed’s Gold To Fund Strategic BTC Reserve: Bloomberg

According to a latest Bloomberg report, Republican Senator Cynthia Lummis of Wyoming has proposed to sell a part of the Federal Reserve’s gold holdings to purchase one million Bitcoins for the creation of a strategic bitcoin reserve. 

The Senator, an ally of Donald Trump, has a plan for filling up the president-elect’s proposed strategic Bitcoin stockpile without adding to the government deficit.

The bill calls for the US to acquire 1 million Bitcoin, representing nearly 5% of the outstanding tokens. Cynthia Lummis estimates this would cost around $90 billion based on current prices, but the sum could rise if the market anticipates the government’s involvement.

“We already have the financial assets in the form of gold certificates to convert to Bitcoin,” Lummis said in an interview with Bloomberg. “So the effect on the US balance sheet is pretty neutral.”

According to Lummis’ bill, the cryptocurrency would be held for a minimum of 20 years, and the presumed appreciation in value would help to reduce the national debt.

Uphill Battles To Be Faced
Despite the industry hopes that this will be the most crypto-friendly Congress ever, some market watchers believe that Lummis’ bill, which currently has no co-sponsors, faces an uphill battle.

“It’s still putting government money on the line, and Bitcoin has not shown itself to be a particularly stable asset,” noted Jennifer J. Schulp, director of financial regulation studies at the Cato Institute’s Center for Monetary and Financial Alternatives.

She further added that “the bill asks senators and members of Congress, who may not understand crypto that well, to make a much bigger leap of faith in terms of its long-term viability.”

Novogratz Doubtful Of US Creating Strategic BTC Reserve
Michael Novogratz, the CEO of Galaxy Digital, believes there is a low likelihood of US setting up a Bitcoin strategic reserve. However, if it does, Novogratz predicted that this would push its price to $500,000 since other nations would feel compelled to create similar stockpiles.

Lummis first unveiled her bill at the Bitcoin 2024 conference after Trump announced his ambition to create a government Bitcoin reserve. After a most anticipated Trump win, the crypto market has surged massively with Bitcoin making newer highs above $93,000.

Lummis is optimistic that her BITCOIN bill, short for Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide, will gain support in the next Congress.

She noted that Trump has already endorsed the idea of a reserve and his closest advisers include people who understand Bitcoin and its role in our future.

@ Newshounds News™

Source:  Coinpedia

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 11-14-24

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MARKET PARTICIPANTS URGE ECB TO EXTEND WHOLESALE DLT TRIALS

For the last six months the European Central Bank (ECB) has been orchestrating wholesale DLT settlement trials using central bank money. More than 70 institutions have taken part, with three different payment options available.

 Today three of the most active participants – Deutsche Börse’s Clearstream, DekaBank and Union Investment – shared their lessons as part of a Frankfurt School Blockchain Center event.

One of the three payment options was the Bundesbank’s Trigger solution, which has its own blockchain that triggers a payment on the Target2 payment system. The Banque de France has its DL3S blockchain that tokenizes central bank cash as a pilot wholesale CBDC.

And the Bank of Italy provided its TIPS Hashlink solution, a lightweight escrow smart contract for the TIPS payment system which requires little infrastructure investment.

All the participants were extremely positive about the trials and keen to see them continue.

The combination of tokenization and central bank money can cut costs, reduce risks and yield efficiencies. Several times they mentioned the potential for a digital capital markets union, as recently discussed by ECB Director Piero Cipollone.

Another consensus was the desire to hear the ECB’s roadmap for next steps before the settlement trials finish at the end of this month.

Calls for the wholesale DLT settlement trials to continue

Clearstream’s Thilo Derenbach and Dekabank’s Michael Cyrus want to avoid losing momentum. Hence, they are both keen to keep the settlement solutions available.

“We would strongly recommend that the ECB does not now close the trial period and wait for many months or possibly years to then proceed with scalable BAU (business as usual) sort of implementation of the payment rails,” said Mr Derenbach.

 “Rather communicate soon to the market how the continued ongoing usage of one, two or three or other payment solutions would be made available. The market is ready.”

Mr Cyrus expressed a similar sentiment, noting that the Bundesbank’s Trigger solution had been around for two years before the trials started. “Now if we have to wait another two or three years, this would be a clear sign that innovation is not coming to the market as quick as we like and I think as quick as the market is ready for,” said Mr Cyrus.

That kind of continuity would allow market players to focus on building out other aspects of the ecosystem, such as secondary markets. He noted that relatively few asset managers were buying the tokenized issuance because of a lack of secondary markets and the need for digital securities to be eligible as collateral for central bank activities. Digital securities should be treated the same as conventional securities.

Ideally he would like to see the Trigger solution remain available. Experimentation with tokenized commercial bank money would also be desirable.

We previously highlighted that German firms dominated the trials which works in favor of the Trigger solution, as opposed to a decision purely on the merits of each option.

Wholesale CBDC in medium term
While all three participants were reluctant to select one solution over others, the Trigger solution came to the fore. Arguably, for a digital capital markets union, broadening the options could be on the cards. We’d note that the Bank of Spain is also developing a solution. Spain’s developer is the technology partner for Fnality, the wholesale tokenized payment solution that is already in production.

All three institutions seemed to envision a wholesale CBDC as the ultimate solution, with the use of existing payment rail integrations such as the Trigger and TIPS Hashlink solutions, seen as more important in the short term.

Union Investment’s Christoph Hock said he’d heard that it would take at least two years for the Banque de France’s wholesale CBDC to go into production.

 “Stablecoins could come into production already in 2025. I think a wholesale CBDC solution by the ECB somewhere in 27/28 potentially wouldn’t be helpful for the market,” he said. 

Hence he suggested a production version of the Trigger solution could be ready in late 2025 or early 2026 and in the meantime work could progress on the wholesale CBDC with the Banque de France.

Mr Hock also observed the important role that the central banks in Switzerland and Singapore have played in making their countries leaders in the tokenization space. 

Switzerland has extended its six month wholesale CBDC pilot for a further two years. He envisions that the Bundesbank in combination with the ECB could launch a world first with a production Trigger solution.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE VS SEC UPDATE: XRP LAWSUIT TAKES POSITIVE TURN AHEAD OF 2025 TRIAL

▪️XRP News Today: Ripple scores a significant legal victory as a US court rules in favor of Ripple Labs in the ongoing XRP lawsuit, narrowing the scope of class claims.

▪️Ripple Lawsuit Update: Judge Phyllis Hamilton grants Ripple’s motion for final judgment on settled class claims, limiting the case and setting a trial date for January 2025.

▪️The news of Ripple's legal win boosts XRP sentiment, with potential positive effects on XRP price action in the coming months

In the latest development, Ripple has scored a legal victory. In the ongoing In re Ripple Labs Inc. litigation, a US court has ruled in favor of Ripple Labs, XRP II LLC and Brad Garlinghouse.

This is a huge win for Ripple in the long-running case over unregistered securities sales. Judge Phyllis Hamilton granted Ripple’s motion for final judgment on certain class claims, which limits the case and sets up a trial in January 2025.

Key Lawsuit Details
Ripple and the plaintiffs jointly filed a motion seeking final judgment on settled class claims and a pause on remaining claims while appeals are pending. 

Judge Phyllis Hamilton’s order specifically addresses the class action claims related to unregistered securities sales, Ripple’s potential liability as a “control person,” and alleged California securities law violations.

With this ruling, the court has scheduled a trial for January 21, 2025, while pausing previous pretrial deadlines until appeals of the class claims are resolved.

Ripple’s Push for Clarity

Ripple’s request for this final judgment aims to streamline the legal process, clarify remaining claims, and shorten the case’s timeline. The court has also encouraged both sides to consider alternative dispute resolutions, hinting that settlement discussions may be on the horizon in the coming months.

Implications of the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance the confidence in their stance against the SEC.

Especially after Trump has hinted towards regulatory clarity in the industry, and promised to fire Gary Gensler, the market anxiously awaits an action from the administration. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli had stated that while a settlement appears more realistic, however, a full dismissal might be unlikely.

Gary Gensler To Exit Soon?
While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (MetaLawMan on X) believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.

XRP’s price remains closely tied to the regulatory clarity surrounding the token. Attorney Case Darwin agreed with a trader who noted that ‘not owning XRP during this run will be one of the biggest mistakes many will make’. 

He shared that people will not buy it, as the SEC appealed the district court’s decision, in which Ripple won a resounding victory. He emphasized that the BTC hype and its appeal will keep them away. XRP is currently trading at $0.7263, up over 3% in the last 24 hours.

With the stakes higher than ever, Ripple’s victory is more than a win—it’s a turning point for crypto.

@ Newshounds News™

Source:  Coinpedia

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🌱LAND PATENT ALLODIUM #CONSTITUTION #SOVEREIGN  |  Youtube

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Seeds of Wisdom RV and Economic Updates Thursday Morning 11-14-24

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BLACKROCK EXPANDS TOKENIZED MONEY MARKET FUND BUIDL TO FIVE MORE BLOCKCHAINS

Today Securitize, BlackRock’s tokenization partner, announced that BlackRock’s money market fund, BUIDL, is now available on five additional blockchains. It launched in March on Ethereum and has now expanded to Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon.

BUIDL is the largest tokenized money market fund on a public blockchain with a market capitalization of $517 million. Ondo Finance has issued its own money market fund backed by BUIDL, so it accounts for $192 million of BUIDL’s balance. While BlackRock has a minimum investment of $5 million, Ondo’s OUSG has a $5,000 minimum and also temporarily waves fees.

*************************

Notably, BUIDL has management fees of 50 basis points on most blockchains but it’s only 20 bps on Aptos, Avalanche, and Polygon, with the lower costs subsidized by foundations associated with the blockchains.

“We wanted to develop an ecosystem that was thoughtfully designed to be digital and take advantage of the advantages of tokenization,” said Securitize CEO and co-founder Carlos Domingo. “Real-world asset tokenization is scaling, and we’re excited to have these blockchains added to increase the potential of the BUIDL ecosystem.

With these new chains we’ll start to see more investors looking to leverage the underlying technology to increase efficiencies on all the things that until now have been hard to do.”

In October Securitize integrated with Zero Hash to allow digital asset firms to use USDC to buy BUIDL and keep their funds on-chain. For some time the USDC stablecoin issuer Circle has said it stands ready to buy BUIDL funds for USDC, allowing investors to exit their investment whenever they like. On a related point, we previously explored why asset managers might want a shared stablecoin.

@ Newshounds News™

Source:  Ledger Insights

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RIPPLE NEWS: XRP DOCUMENTARY TO ‘BLOW OPEN THE SEC LAWSUIT AGAINST RIPPLE’; FIRST REVIEWS OUT

The highly anticipated XRP documentary, “XRP Unleashed/ Rigged from the Start”, has officially premiered in Scottsdale, Arizona, drawing significant attention in the crypto world. The film explores the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

Fans of the XRP saga can look forward to more opportunities to watch the documentary, as plans for a second screening tour in other cities are under consideration. For those unable to attend in person, the film will be available for streaming on the official website starting November 21.

********************************

First Reviews Out:
A user named Jeremy Quintanilla took to X and wrote, “Don’t miss @Fruition_Films XRP Unleashed! #XRPArmy What a f...ing amazing story that blows the story open the SEC Lawsuit against @Ripple.”

 Ray Fuentes said, “The #XRPUnleashed premiere in Scottsdale was a success! Big congrats to @Fruition_Films and everyone involved in creating this impactful documentary. Major bombs were dropped!”

XRP Price Hints at Big Rally
XRP has recently reacted to a key support zone that has been closely watched for months. This support area has been significant since July 2023, and the price has dipped into this zone a few times already, including in July, August, and November. This pullback is part of a larger corrective pattern, and it looks like XRP is now testing this support again.

The key target for XRP remains a price range between $1.26 and $1.99, and the next critical level to watch is around the 66-70 cent mark. If XRP stays below this level, it could continue to show bearish momentum. However, a breakout above this level could signal a shift toward a more bullish outlook.

Currently, XRP is attempting a move higher, but the price action has been weak and uncertain. If this upward move continues, it might be part of a larger corrective structure, with a possible pullback before another rise. The ultimate target, if the upward trend continues, is between 83.8 cents and $1.17, based on key Fibonacci levels.

@ Newshounds News™

Source:  Coinpedia

Also watch the trailer here:
RIGGED FROM THE START, EXPOSING THE SEC'S WAR ON CRYPTO, Trailer  |  Youtube 

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Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-13-24

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RADIAN USES R3’S CORDA DLT TO SMOOTH REAL ESTATE TITLE TRANSFERS

US mortgage and real estate service firm Radian has integrated R3’s Corda enterprise blockchain with its Titlegenius offering. The workflow system for real estate title transfers uses DLT for document storage and data transfer. Rather than a black box, it provides transparency around the title transfer process and claims to cut closing costs by an average of 25%.

Radian has a market capitalization of more than $5 billion, although mortgage insurance is its primary revenue source rather than title services.

Title transfer services typically check the history of the property to ensure there are no surprises. They are not just verifying that the seller is the true title holder, but that there are no longer mortgage or other liens against the property. They frequently provide title insurance just in case they missed something.

Once that’s done, the final deed of transfer is drafted and the transaction proceeds to closing and settlement. The process can include various parties, such as the buyer, the real estate agents, mortgage providers and lawyers. By creating a transparent workflow using DLT, all parties can get an up-to-date record of the status of the transaction.

“The title transfer process is notoriously slow and complex, and we are excited to collaborate with R3 to make this process simpler and more efficient for our clients,” said Steven Stipetich, Radian’s Senior Vice President of Title. “There are many valuable use cases for DLT in the property space like bulk refinancing – already supported by the titlegenius platform.”

Coadjute also uses Corda for real estate sales
Corda is also used by UK property technology firm Coadjute, which does something similar to Titlegenius.

However, its software provides the glue to share data between different real estate software solutions used by the estate agents of the buyer and seller. Corda was incorporated into Coadjute’s software since its founding in 2018. The startup’s backers include UK banks such as Lloyds, Natwest and Nationwide.

@ Newshounds News™

Source:  Ledger Insights

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XRP DOCUMENTARY REVEALS RIPPLE-SEC INSIDE STORY: WHEN AND WHERE TO WATCH

▪️XRP documentary exposes Ripple's fight with the SEC; streaming starts November 21.

▪️Second screening tour planned, potential Florida showings to be announced soon.

▪️Ripple CEO absent, but documentary promises exclusive insights and expert commentary.

The wait is over!

Ripple’s highly anticipated documentary, Rigged from the Start: Exposing the SEC’s War on Crypto, is about to premiere, bringing fresh insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

If you’re eager to understand the full story behind XRP’s legal fight, here’s when and where to catch this revealing film.

Screening Details to Know
The debut of the documentary took place in Scottsdale, Arizona, and was organized by Fruition Productions, a Los Angeles-based film and gaming studio. 

The documentary was initially titled “XRP Unleashed,” but it was later changed to “Rigged from the Start” to make it more relatable to a broader audience who might not be familiar with XRP.

Meanwhile, the new title focuses on the SEC’s controversial actions against XRP and its impact on the crypto space.

Audience Demand Grows
Following its Scottsdale debut, Fruition Productions has taken the documentary to seven cities across the U.S., and demand has been so high that more screenings are planned for December.

For those unable to attend a live screening, don’t worry. The documentary will be available to stream on Fruition Productions’ official website starting November 21. There may also be additional screenings in Florida, with updates expected soon.

Meanwhile, the trailer is available to watch on YouTube.
What to Expect from the Documentary
The “Rigged from the Start” documentary offers an exclusive look at the Ripple-SEC conflict, featuring insights from key crypto figures, legal experts, and industry leaders.

Although Ripple CEO Brad Garlinghouse chose not to participate in the film, the documentary still promises to deliver exclusive content and offers a fresh perspective on the fight against the SEC’s regulatory actions.

@ Newshounds News™

Source:  Coinpedia

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RIGGED FROM THE START, EXPOSING THE SEC'S WAR ON CRYPTO, Trailer  |  Youtube

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 11-13-24

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UK LIKELY TO ISSUE DIGITAL GILTS WITHIN THE NEXT TWO YEARS – REPORT

Yesterday, state-owned French development bank Caisse des Dépôts et Consignations (CDC) issued a €100m ($108m) digital bond settled using the Banque de France’s DL3S DLT platform using its pilot wholesale central bank digital currency (wCBDC).

The transaction formed part of the European Central Bank’s wholesale DLT settlement trials which are due to end this month.

The Banque de France avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank money.

For the CDC issuance, it required synchronizing the issuance of the digitally native note (DNN) on Euroclear’s D-FMI platform with the settlement on the central bank’s DL3S. The DNN was issued in bearer form under French law.

“Choosing (the) Banque de France’s full DLT interoperability solution for settling the cash leg of this issuance stresses the importance of tokenised Central Bank Money for the development of the tokenisation of finance,” said Emmanuelle Assouan, Director General Financial Stability and Operations at Banque de France.

“The operation, performed under CSDR, allowed (the) Banque de France to enrich its connectivity solutions by setting-up a new interoperability link between the 2 DLTs, on top of the HTLC and SWIFT protocols.” 

HTLC refers to a Hashed Timelock Contract which is an escrow-like mechanism in which the money is locked on one DLT, and the asset on the other. If the money is not claimed during the timelock period, the locks can be released.

Euroclear and the central bank worked together on the interoperability solution.

BNP Paribas’ Securities Services was the issuing agent for the transaction, with Crédit Agricole CIB and Natixis CIB as dealers.

Paris Europlace, the French association that supports the Paris financial market, created a working group of banks and asset managers to help in coordination.

ECB trials and France’s DL3S
Meanwhile, the French pilot CBDC solution has been used for some other digital bond issuances. They include a €30 million sovereign bond issued by Slovenia and a small ABN AMRO commercial paper issuance. There were also several other DL3S experiments that involved simulations.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

SEC APPROVES COINCHECK AS FIRST JAPANESE CRYPTO EXCHANGE ON NASDAQ

Coincheck is set to make history as the first Japanese crypto exchange to list on Nasdaq, following SEC approval.

Coincheck, a cryptocurrency exchange headquartered in Tokyo and a subsidiary of Monex Group, is expected to become the first to debut on the Nasdaq Global Market as early as Dec. 10.

On Nov. 13, the United States Securities and Exchange Commission approved the exchange’s application to list on the Nasdaq.

The move, set to occur through a merger with Thunder Bridge Capital Partners (TBCP), marks the first time a Japanese crypto exchange will be listed on a US stock exchange.

The merger with TBCP, a special acquisition purpose company (SPAC), will enable Coincheck to remain a consolidated subsidiary of Monex Group after the listing. It could also encourage other Japanese exchanges to pursue similar moves.

SEC application approval
The SEC’s approval follows the Japanese crypto exchange’s filing of a Form F-4 registration statement on Nov. 7, which became effective on Nov. 12.

With the SEC green light, TBCP can now proceed to hold a shareholder vote on Dec. 5 to approve and finalize the business combination, a necessary step for the listing to proceed.

If the shareholders vote in favor, the merger with TBCP will close, and Coincheck is set to be officially listed on the Nasdaq as soon as Dec. 10, trading under the ticket CNCK.

Nasdaq listing implications
The planned Nasdaq listing would be a significant development for Japan and the US. If the merger is finalized, it will deepen global market integration, potentially inspiring other Japanese crypto exchanges to pursue listings in international markets.

The listing could attract more international crypto firms to American markets for the US, reinforcing the country’s expected pro-crypto regulatory stance under President-elect Donald Trump’s incoming administration.

SEC influence over crypto
The SEC has shaped crypto in the US through its rigorous oversight of digital assets, exchanges and firms, including issuing multiple Wells notices.

Consensys CEO Joe Lubin, in an interview with Cointelegraph at Devcon 2024 in Thailand, criticized the SEC for restricting innovation in the crypto industry.

Consensys also issued an open letter to the next US president, calling for supportive regulations for crypto and Web3 — a sentiment Lubin echoed at Devcon 2024, where he expressed hope for a smooth transition in SEC leadership.

@ Newshounds News™

Source:  CoinTelegraph

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 Republic |  Youtube

with Mason 

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-13-24

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STABLECOIN FIRM TETHER PLOWS PROFITS INTO COMMODITY TRADE FINANCE

On Friday Tether, known as the operator of the largest stablecoin, reported its investment division completed its first trade finance transaction in October. It involved providing finance for 670,000 barrels of Middle Eastern crude oil worth around $45 million.

The credit granted was from Tether Investments, a company with $7 billion in equity funded by the profits of the stablecoin firm. Hence, it does not involve the use of stablecoin reserves. However, the Tether stablecoin was used for the payment.

“With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures,” said Paolo Ardoino, CEO of Tether.

“This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance.”

Tether‘s main stablecoin has a current market capitalization of more than $124 billion.

Tether comes out of the shadows
For years there were doubts about whether the Tether stablecoin was fully backed. The company makes out that these concerns are unwarranted.

 However, the New York Attorney General found that Tether misrepresented the status of the stablecoin reserves during 2018 and 2019 and banned the stablecoin from the state as part of a settlement.

During that time, Tether lent $625 million of its reserves (around a third of the total) to sister company Bitfinex exchange, which would have been insolvent without the funds. With the subsequent Bitcoin rally, Bitfinex managed to recover.

However, since Tether recently became enormously profitable earning $7 billion during the first nine months of 2024, that breach of ethics and trust seems to have been forgotten.

In another positive piece of news for Tether, the co-head of Donald Trump’s transition team is Howard Lutnick, the CEO of Cantor Fitzgerald. And Cantor looks after the $100 billion plus in Treasuries and repos that form part of Tether’s stablecoin reserves, making it an important client.

@ Newshounds News™

Source:  Ledger Insights

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BREAKING: CARDANO FOUNDER TEASES POTENTIAL PARTNERSHIP WITH RIPPLE

Cardano founder Charles Hoskinson hints at a Ripple partnership, praising CEO Brad Garlinghouse amid calls for crypto unity and regulatory clarity.

▪️Hoskinson praises Ripple's Garlinghouse, hinting at a potential Cardano-Ripple partnership amid regulatory calls for industry unity.

▪️Nerayoff criticizes Hoskinson's Ripple remarks, accusing him of political motivations and rewriting past controversies.

▪️Ripple-Cardano potential partnership aims to bolster market positions amid regulatory challenges.

Cardano founder Charles Hoskinson has hinted at a potential collaboration with Ripple, sparking excitement across the crypto community.

In a recent post on X (formerly Twitter), Hoskinson praised Ripple CEO Brad Garlinghouse, calling him a “great CEO” and describing their interaction as “extremely collaborative.” This public exchange has fueled speculation that Cardano and Ripple might explore a strategic partnership.

Will Cardano Founder Partner With Ripple CEO?
Cardano founder Charles Hoskinson’s recent comments align with growing calls for collaboration in the cryptocurrency industry.

In his post, the Ripple CEO Brad Garlinghouse was in agreement with this saying that it was time for the crypto community to ‘unite’ to push for a ‘level playing field’ as well as clear regulation. 

He pointed out that the market should have obvious “rules of the road” to create a level playing field for all crypto assets and companies “A rising tide lifts all boats,” Garlinghouse wrote, positing that a unified crypto industry would be beneficial to the whole system.

This message of unity comes at a time when regulatory pressures and market challenges continue to affect the crypto sector. Ripple, in particular, has been embroiled in a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), a case that many believe could set an important precedent for the industry.

With Hoskinson’s endorsement and Garlinghouse’s call for collaboration, the potential Ripple-Cardano partnership might aim to strengthen both companies’ positions in the market and support regulatory reform efforts.

Steven Nerayoff Blast Cardano Founder Stance
Cardano founder Charles Hoskinson’s positive remarks about Garlinghouse and Ripple reflect a shift from his previously critical stance on XRP and its community. However, not everyone in the crypto community is enthusiastic about this potential partnership. 

Steven Nerayoff, a figure in the blockchain space, has accused Charles Hoskinson of engaging in “damage control” rather than genuine support for Ripple and the XRP community.

He referenced years of perceived hostility from Hoskinson towards Ripple and questioned the timing of Hoskinson’s recent support.

According to Nerayoff, Hoskinson’s remarks signal a “sudden patriotic pivot” that he claims lacks authenticity, suggesting that Hoskinson is motivated by self-interest rather than a true desire to support the industry. He stated,

“Your hollow ‘apology’ to the XRP Community falls flat,”

“Your sudden patriotic pivot and vague ‘Trump Team’ hints reek of desperation,” Nerayoff stated. He argued that Hoskinson’s recent comments are part of a broader effort to “mislead” the public about his role in the crypto community, particularly around key issues like regulation and industry growth.

Accusations of Undermining and Creating Conflict
Nerayoff did not shy away from confrontation and accused Hoskinson of trying to undermine him and Ripple for the past few years. He accused Hoskinson of creating conflict within the crypto industry and spreading “false narratives” to elevate his own projects.

Nerayoff claimed that Hoskinson’s actions have been divisive, and that he has contributed little to the blockchain space other than “pumping his own bags” and fostering animosity.

“You made great efforts to discredit me…Yet it was you who sought my help to make crypto legal,” Nerayoff said, pointing to his early work such as the development of the token utility model and ICO structure which helped to facilitate Ethereum’s growth. He further called Hoskinson as a person who is “free-riding” and a “false prophet” in the blockchain ecosystem.

Charles Hoskinson Highlights Vision for Unity
Hoskinson responded to Nerayoff’s accusations directly, dismissing them in a follow-up post.

“All right, Steve, you just proved everything everyone says about you is true. Best of luck in life,

Concurrently, just hours after expressing admiration for Garlinghouse, he tweeted, “You know what’s unstoppable? When the entire crypto space comes together and unifies to take the industry to the next level.” He continued, “We won’t stop for a rest until there are a billion blockchain users.”

Moreover, Pro XRP lawyer John Deaton has commended the potential collaboration citing a bright future should this milestone be accomplished.

In addition, Ripple CEO Brad Garlinghouse has recently expressed optimism about Ripple’s future, despite the prolonged legal battle with the SEC. In his post, he acknowledged the challenges that Ripple and the XRP community have faced, describing the journey as “frustrating” but expressing hope for “light at the end of the tunnel.”

@ Newshounds News™

Source:  CoinGape

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🌱IS MY MONEY SAFE? WHAT IS GOING ON WITH THE DOLLAR?  |  Youtube

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 11-12-24

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ITALY LOWERS PROPOSED CRYPTO TAX HIKE TO 28%: REPORT
Italy’s government is considering lowering its proposed tax hike on crypto trades, reducing the planned rate increase from 42% to 28%.

This shift comes as Prime Minister Giorgia Meloni’s coalition appears inclined to amend the tax proposal, which was initially part of October’s budget plan, to support the country’s growing digital asset sector, according to Bloomberg.

Italy’s steep crypto rate increase
Currently, crypto transactions in Italy face a 26% tax, but officials had proposed raising this to 42% to boost public finances.

Crypto industry executives, however, voiced concerns, arguing that such a steep tax rate could harm Italy’s competitiveness, especially as the European Union prepares to roll out comprehensive crypto regulations under the Markets in Crypto-Assets framework later this year.

The League, a junior party in Meloni’s coalition, proposed the 28% limit to balance the need for public revenue with industry growth, according to Bloomberg.

Forza Italia, another coalition partner, suggested eliminating the tax hike entirely for gains under €2,000 to encourage local participation in cryptocurrency without imposing heavy taxes. Both amendments aim to create a more favorable environment for Italian crypto investors.

This adjustment could strengthen Italy’s crypto market as other countries experiment with their own tax policies.

@ Newshounds News™

Source:  Crypto News

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XRP NEWS: LEGAL EXPERT SAYS RIPPLE LAWSUIT CAN STILL BE WITHDRAWN OR SETTLED

The long-running legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could finally come to a close soon, especially with the recent election of President Donald Trump, whose pro-crypto stance could lead to a more favorable regulatory environment for digital assets.

If Trump appoints a new SEC leader who is more open to cryptocurrencies, it could accelerate the resolution of Ripple’s legal issues, potentially settling the case for the $125 million fine that was initially offered. This shift in leadership could also help clarify regulatory guidelines for digital assets, which would likely boost market confidence and institutional interest in Ripple’s technology.

Ripple’s legal victory, which ruled that XRP is not a security, was an important milestone for the company, although the SEC’s appeal is ongoing. Amid the confusions of the latest appeal, a user took to social media and asked, “Can the lawsuit still be settled or withdrawn after it has been put in front of the appeals court?”

Legal expert and attorney Fred Rispoli reacted and answered the above-mentioned question.

He wrote,

“Yes. Withdrawn or settled at any time. Withdrawn is unrealistic though. Likely to be settled.”`

What’s Next For XRP?
Currently, XRP is priced at around 60 cents, showing steady growth, with key support levels at 56 cents and 54 cents. The altcoin is up 19 percent this week, thanks to Trump again. Bitcoin has captured the $88k mark and is now heading towards the $90k level.

If Ripple’s case is resolved positively, XRP’s price could see a significant increase as clarity on regulations would attract more investors and institutions. CEO Brad Garlinghouse remains hopeful that a clearer regulatory framework will benefit Ripple and increase the adoption of XRP in global banking.

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Source:  Coinpedia

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🌱 COMMUNISM? TITLE 28 RULE 1 THE 45 COMMUNIST GOALS AS READ INTO THE CONGRESSIONAL RECORD 1963  |  Youtube

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 11-12-24

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AFME PROPOSES MICA-LIKE REGULATIONS FOR TOKENIZATION TO ADDRESS CSDR ISSUES WITH DLT

Last week the Association for Financial Markets in Europe (AFME) outlined its European vision and policy recommendations for DLT and tokenization. 

This is in response to a call for submissions by the EU’s capital markets Directorate, FISMA.

The paper makes recommendations that address some key issues holding up the development of tokenization in the European Union.

One of the critical suggestions relates to CSDR, the regulations that govern central securities depositories (CSDs). Today CSDs perform critical functions including securities issuance, acting as record keepers and providing settlement infrastructures.

However, a DLT can provide the record keeping function. Smart contracts can perform functions such as paying interest or dividends. Plus, DLT supports delivery versus payment, which can eliminate settlement risks without the need for a centralized counterparty (CCP).

CSDR is incompatible with DLT, tokenization?
Countries such as Germany, Luxembourg and Italy have passed DLT friendly laws. 

We frequently report on issuances under Germany’s electronic securities law, eWpG, where securities issued via a decentralized registry don’t require the use of a CSD. Instead, a registrar ensures the DLT is keeping tabs and other related tasks. It’s significantly less arduous to become a registrar versus a CSD. That’s because the registrar only performs one aspect of a CSD’s role under CSDR.

However, you won’t see any eWpG securities publicly traded. Why? Because the CSDR regulation requires publicly traded securities to be registered with a CSD. So while you can issue securities under eWpG, they can only be traded over the counter (OTC).

This is why the digital asset-savvy Boerse Stuttgart, Germany’s second largest stock exchange, is setting up a digital securities exchange, BX Digital, in Switzerland rather than Germany. AFME makes precisely this argument – that the EU will lose its current advantage in tokenization to other jurisdictions if it doesn’t evolve quickly.

A related point is that the CSDR treats CSDs as a monolith. By contrast, IOSCO-CPMI Principles for Financial Market Infrastructure (PFMI) outline separate functions: these include a CSD (issuance and maintenance), securities settlement system (SSS), and notary functions.

 Hence, AFME argues that because roles are separated with DLT, the CSDR as it stands cannot work for tokenization. It believes there’s a need for a new regulatory regime, much like MiCAR for crypto-assets.
However, these two changes are amongst the medium term strategies, because even if regulators start now, a new legal regime isn’t likely to come into force before 2029.

DLT Pilot Regime suggestions
AFME also made shorter term recommendations regarding the DLT Pilot Regime, many of which it has previously outlined. 

The Pilot Regime came into force in March 2023, relaxing certain requirements, but only one entity has been approved so far. Under the Regime, it’s possible to operate a combined trading and settlement system. Plus, an exchange can deal directly with retail clients rather than requiring brokers as intermediaries.

Currently the DLT Pilot Regime supports three types of authorizations – as a multilateral trading facility (DLT MTF), as a settlement system (DLT SS) or both (DLT TSS). However, any entity that wants to provide a settlement system has to be a CSD. Hence, it’s no surprise the only authorized entity so far is Prague CSD approved last month.

AFME argues that requiring registration as a CSD is too onerous. Many banks would be interested in providing a DLT SS but not becoming a CSD. The authors also note that the UK’s Digital Securities Sandbox doesn’t have this requirement. Again, AFME is concerned that the EU could lose out to a competing jurisdiction.

The DLT Pilot Regime has quite low caps on activities, which make it unattractive for larger entities. Hence, AFME requests higher caps. It also wants securities issued under the Regime to be eligible as central bank collateral.

The big picture vision
The report starts off by building a vision of a tokenized future and identifies several key benefits.

There’s considerable soul searching in Europe about how to keep innovation within the EU, rather than startups emigrating to the United States.

 A key part of that is funding, and AFME argues that by using DLT to create a capital markets union it will make it easier for startups to raise capital locally. That’s one of several potential upsides.

The AFME paper is an evolution of previous policy recommendations it outlined earlier this year.

@ Newshounds News™

Source:  Ledger Insights

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CANARY CAPITAL APPLIES TO LAUNCH SPOT HBAR EXCHANGE-TRADED PRODUCT

The asset manager has filed with the SEC to list and trade shares of spot Hedera, Solana, and XRP exchange-traded products.

Investment firm Canary Capital filed with the United States Securities and Exchange Commission (SEC) to list and trade shares of its spot Hedera exchange-traded fund, or ETF.

In a Nov. 12 filing, Canary submitted a Form S-1 registration statement to SEC officials for review, proposing the commission allow US investors to trade shares of its Canary Hedera ETF trust on an unnamed exchange.

]The proposed investment vehicle was one of the first to offer investors exposure to a spot HBAR exchange-traded product, though the asset manager has also applied to list and trade spot XRP and Solana ETFs.

According to the filing, the investment vehicle will not use HBAR-linked derivatives or futures contracts that could put the asset manager within the purview of the US Commodity Futures Trading Commission. Canary did not name an exchange for a listing nor a custodian or ticker symbol.

HBAR, the native crypto asset of the Hedera network, had a market capitalization of more than $2.5 billion at the time of publication, trading at a price of roughly $0.07. Canary launched the HBAR Trust on Oct. 1 as a private offering to qualified investors.

SEC soon under new leadership?
It’s unclear whether the commission will approve listing and trading of spot ETFs tied to other crypto assets on US exchanges following the approval of Bitcoin and Ether ETFs in January and May, respectively.

Following a Nov. 5 election in the US, Republicans will have control of the legislative and executive branches of government starting in January, with President-elect Donald Trump pledging to fire SEC Chair Gary Gensler.

However, despite the criticism by many in the industry over his seeming “regulation by enforcement” approach to crypto, Gensler also voted for approving spot BTC ETFs. The SEC’s Trading and Markets Division signed off on spot Ether ETFs.

@ Newshounds News™

Source:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 11-12-24

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PETER SCHIFF SLAMS DONALD TRUMP’S STRATEGIC BITCOIN RESERVE PROPOSAL

With the incoming Donald Trump administratation, crypto might play a key role, but Peter Schiff thinks Bitcoin Reserve proposal is a bad idea

▪️  Peter Schiff has watered down the hyped Bitcoin reserve proposal

▪️  He believes the move might crash the US Dollar in the long term

▪️  Many differ from Schiff with Bhutan also keeping a BTC Reserve

Peter Schiff, the core BTC critic has slammed the strategic BTC Reserve proposal that might come into effect with the re-election of former President Donald Trump. While many industry leaders and some lawmakers are celebrating this proposal, Peter Schiff has detailed why this move, if achieved, can destroy the United States.

Peter Schiff and the Deadly Bitcoin Reserve Cycle
As an economist, Schiff has always decried the massive focus on BTC as an investment asset. While the industry has continued to move forward despite his warnings, the banter has not ceased. Peter Schiff said if the US Government establishes a Bitcoin reserve and acquires 1 million BTC, it might buy more.

Based on his analysis, this initial purchase will push the price of the coin to a new high, turning many early buyers into millionaires and billionaires. 

This push mights see these investors sell their coins to cash out the profits accrued over the years. As the Bitcoin critic noted, this will make the BTC holding of the US government fall drastically.

To save face, the government might print dollars to buy more BTC to keep the price afloat. As Schiff noted, this is unsustainable as Bitcoin in this instance cannot stand as a proper hedge for the dollar. His believes this reality might greatly devalue the US Dollar. However, he noted that Bitcoin price will also tank in the long term.

The plans for a Bitcoin reserve has gained traction in Congress with Senator Cynthia Lummis publishing a Bill in that regard. President-elect Donald Trump has reiterated his plans for Bitcoin with many having high hopes on what comes next.

The Other Side of the Coin
While Peter Schiff has a negative view about a BTC reserve, other industry leaders have a different view. Advocates of the move believes the premier cryptocurrency have the right technology to tag as a store of value.

The growing demand for the coin, sparked in part by MicroStrategy’s bullish accumulation, has helped fuel its steady growth over time. Peter Schiff is an advocate of Gold, as he believes the precious metal is substantial and has stood the test of time. Even if Donald Trump establishes the reserve as promised, he said it can never be as high as proponents like RFK Jr projects.

However, countries like Bhutan has seen its Bitcoin reserve soar above $1 billion per the soaring price of the coin. As of writing, the price of Bitcoin has scored a new All-Time High (ATH) above $85,495.18, up 5.73% in 24 hours.

@ Newshounds News™

Source:  CoinGape

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EU MANDATES DIGITAL PRODUCT PASSPORT BY 2027—VECHAIN TOOLCHAIN LEADS THE CHARGE IN SUPPLY CHAIN TRANSPARENCY

▪️VeTonsberg, VeChain’s partner in London, is preparing companies for future compliance, using blockchain solutions to enable end-to-end traceability.

▪️The DPP initiative aligns with global trends toward stricter traceability, as seen in U.S. regulations.

The European Union (EU) is moving towards enhanced sustainability and transparency requirements for products sold within its markets. Here, VeChain’s technology will play a significant role. 

The recently introduced Digital Product Passport (DPP) aims to strengthen traceability across sectors including electronics, textiles, and automotive, reported CNF.

EU’s Digital Product Passport (DPP) Initiative Promotes Sustainability and Transparency
VeTonsberg, a London-based partner of VeChain Technology Group, has announced its readiness to support companies in meeting these compliance standards with blockchain solutions.

However, currently, the implementation of DDP isn’t mandatory but industry participants expect it to be obligatory by 2027.

The DPP is set to provide detailed, accessible information about each product. It will include the product’s origins, environmental impact, and disposal guidance. This aligns with surging global demands for product transparency owing to heightened consumer awareness and investor expectations for sustainability.

“Supply chain transparency is no longer optional,” stated VeTonsberg on X. They emphasized that “the EU Council Digital Product Passport (DPP) is setting the stage for global traceability and sustainability.”

For further context, the concept of a DPP operates similarly to a traditional passport but for products. It serves as a digital record that documents critical lifecycle details, i.e., from materials and origin to environmental impact and disposal instructions.

According to EU regulations, each product will be equipped with a unique QR code or NFC tag to allow easy data access. This centralized digital platform ensures stakeholders can verify product authenticity, origins, and compliance at every stage.

DPP requirements are a component of the EU’s Ecodesign for Sustainable Products Regulation (ESPR), which aims to address the environmental footprint of consumer goods.

With preliminary implementation in 2024, the ESPR mandates DPPs for products with significant environmental impact potential.

VeChain and VeTonsberg Ready to Support Compliance in Emerging Product Traceability Requirements
Moreover, the EU aims to make DPPs compulsory for high-impact goods as transparency in product lifecycles is key to advancing sustainability. As an industry partner, VeTonsberg is set to play a significant role in facilitating these compliance standards.

The company, established in 2022, offers blockchain, NFC, and RFID solutions specifically designed to align with VeChain’s Toolchain platform. This suite of tools allows end-to-end product traceability, data reporting, and integration into existing systems.

According to VeTonsberg, “We can help you implement VeChain Toolchain to meet these requirements by offering end-to-end traceability, monitoring and data reporting for compliance, and integration with existing systems for seamless data flow.”

The DPP initiative follows a similar global trend. VeChain partner VeTonsberg highlighted that other countries are tightening regulations on traceability.

They also cited the U.S. Food and Drug Administration’s Food Safety Modernization Act and Drug Supply Chain Security Act as examples of recent transparency measures in food and pharmaceuticals, reported CNF.

VeTonsberg’s offerings align with these regulatory shifts by helping industries adapt to new compliance demands. The company has also underscored the urgency for businesses to prepare. In the post, they noted, “The deadline is fast approaching… Ensure your supply chain is compliant by starting today.” Meanwhile, it’s worth noting that VeChain has launched the My Story DDP tool with DNV for a similar cause.

@ Newshounds News™

Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Monday Morning 11-11-24

Good Morning Dinar Recaps,

BRICS DIGITAL ASSET PLATFORM PROPOSAL POISED TO RESHAPE GLOBAL INVESTMENT

A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets.

Digital Assets at the Core of BRICS’ Ambitious New Investment Platform
Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s plenary session in Sochi on Friday. He was quoted by Tass as saying:

We suggest creating a new investment platform of [BRICS countries], using electronic assets, developing them.

“The point is to create such a platform of electronic payments, with the use of which it will be possible to invest in developing markets, and these are primary markets of South Asia, Africa, and Latin America in part,” the Russian leader added. The proposed system would facilitate investments from BRICS nations into high-growth areas by utilizing a digital framework, enabling streamlined investment in these regions.

The BRICS economic bloc expanded on Jan. 1 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), joining Brazil, Russia, India, China, and South Africa. This expansion aimed to boost the group’s global economic and political influence. At a recent summit in Russia, BRICS also extended partnership invitations to 13 additional countries, further widening its international presence.

Putin highlighted that the regions targeted by this initiative exhibit strong demographic and economic potential, factors that make them attractive for BRICS investment. He opined:

We think so because very strong demographic processes are taking place there: population growth, capital accumulation, the urbanization level is in sufficient there and it will definitely grow.

At the 16th BRICS Summit, held from Oct. 22-24 in Kazan, Russia, members discussed expanding the bloc’s global influence, including developing alternatives to Western-dominated payment systems to boost financial independence. 

Putin has also clarified Russia’s stance on the U.S. dollar, stating that while Russia faces restrictions on its use, it does not intend to abandon the currency. He criticized U.S. policies that limit dollar use, arguing they undermine American financial authority, though he affirmed the dollar’s importance to Russia’s economy.

@ Newshounds News™

Source:  Bitcoin News

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RIPPLE V. SEC LAWSUIT: RUMORS SUGGEST NEXT POTENTIAL CHAIRMAN OF THE REGULATOR WILL BE PRO-CRYPTO

Firing Gensler seems like one of Trump’s most important crypto-related promises.

▪️Trump’s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.

▪️Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.

Gensler’s Possible Successor
Donald Trump’s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America “the crypto capital of the planet” and proposed creating a strategic BTC reserve.

He also expressed the intention to fire the SEC’s Chairman Gary Gensler on day 1, a promise which triggered huge enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.

Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator. 

Eleanor Terrett (a popular journalist at Fox Business) recently claimed she discussed the matter with “a person close to the Trump transition team,” who assured her that the successor “will be someone pro-crypto.”

NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov chair and whether views on #crypto would factor into the decision.

The response: “I promise you it will be someone pro-crypto.”

— Eleanor Terrett (@EleanorTerrett) November 8, 2024

A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry’s advancement by constant legal battles is considered good news not only for those invested in XRP but the entire digital asset market.

The Potential Effect on the Case
Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) argued that the election of Trump could lead to “extreme changes” at the watchdog.

He claimed that the $125 million penalty, which Federal Judge Torres ordered Ripple to pay for violating certain securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC’s new potential leadership will “recognize this whole case was idiotic and settle at that point.”

“This might include a reduction in the fine and an agreement that current sales of XRP by Ripple are sufficiently structured to not be investment contracts,“ he added.

The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes the case could be officially settled for the amount of $125 million:

“It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it.”

@ Newshounds News™

Source:  Crypto Potato

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🌱GIPPER'S NEWS READER NEW PRESIDENTIAL PLAN FOR 2025 - ARMED FORCES OF AMERICA  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-10-24

Good Afternoon Dinar Recaps,

‘WE WON THAT CASE LAST SUMMER’: RIPPLE CEO OPENS UP ABOUT TRUMP, GENSLER AND XRP LAWSUIT

In recent days, Ripple’s XRP has been making headlines. However, its progress is being hindered by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

CEO Brad Garlinghouse discussed Donald Trump’s support for cryptocurrency, where Trump has positioned himself as a “crypto advocate” during his campaign. Trump has even stated that one of his first actions if elected president would be to remove Gary Gensler, the SEC chairman, who has taken a tough stance against crypto.

Global Crypto Regulations vs. U.S. Approach
In an interview with BBC, Brad points out that many countries like the UK, Switzerland, and Singapore have embraced crypto by creating clear regulatory frameworks.

This has allowed the crypto industry to grow, attracting entrepreneurs and capital. In contrast, the U.S. government, particularly under the Biden administration, has been more hostile toward crypto, creating challenges for the industry..

What a Win Would Mean for Crypto?
Brad talked about the ongoing legal battle between Ripple and the U.S. SEC. Ripple has been fighting the SEC over whether XRP should be classified as a security. Last summer, a judge ruled that XRP is not a security, but the SEC is appealing the decision, though they are not challenging the ruling on XRP itself.

Brad stressed the need for clearer regulations in the U.S. While Bitcoin and XRP have some regulatory clarity, many other cryptocurrencies, like Ethereum and Solana, remain in a “gray area.” 

This lack of clarity makes it difficult for the industry to move forward. Brad advocates for clear, well-defined regulations—similar to those in the UK or Japan—so that the crypto industry can follow the rules without fear of uncertainty.

SEC’s Role in Crypto Regulation
He criticized the SEC under Gary Gensler for trying to regulate crypto through enforcement actions rather than creating formal, clear rules. He argues that cryptocurrencies, unlike traditional securities, do not provide ownership rights or governance rights, so they should not be classified as securities.

@ Newshounds News™

Source:  CoinPedia

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CHARLES HOSKINSON BREAKS SILENCE WITH FOUNDATIONAL MODEL OF CARDANO BLOCKCHAIN

Cardano founder Charles Hoskinson recently returned to social media with a compelling message that outlines his vision for Cardano and its potential. In his first major tweet since a brief hiatus, Hoskinson described Cardano as "a decentralized ecosystem of blockchain technology, smart contracts, and community governance committed to improving economic, political, and social systems for everyone, everywhere."

Hoskinson went on to outline Cardano's role as a foundational infrastructure designed to empower individuals and communities to "manage their identity, value, and governance," and foster the emergence of decentralized applications, businesses and network states.

This marks one of Hoskinson's first posts on X since Nov. 3, when he announced that he would be taking a week-long social media break to celebrate his birthday and enjoy time "off-grid." His return brings a renewed sense of purpose and focus on Cardano’s mission, reflected in his first tweets.

The Cardano community has reacted positively to Hoskinson’s statement, seeing it as a reaffirmation of the project's goals and values. What happened? Hoskinson previously lamented growing criticisms toward him and the Cardano ecosystem.

Amid this and with one user implying that Hoskinson might be Cardano's cancer, the founder decided to poll the community.

In the survey, Hoskinson asked if he was a "cancer" for Cardano. The poll received 50,501 votes at press time, with 51.6% agreeing that Hoskinson was Cardano's "cancer" and 48.4% saying the Cardano founder was not to blame for the ecosystem's challenges.

Apparently dismayed by the results of the poll, Hoskinson decided to take a break from X throughout the week, stating he wanted to disconnect and meditate. In a Nov. 3 post, Hoskinson made known his decision saying "It's going to be a lot of fun disconnecting and meditating.

On the other side, I'm going to have a different approach to social media and how I communicate to the Cardano ecosystem. I suspect I'll use X a lot less and will emphasize more productive and curated mediums. I will miss the daily interactions and spontaneity of things, but it's honestly become too toxic."

@ Newshounds News™

Source:  U Today

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🌱 WHAT IS THE IRON TO GOLDEN AGE?  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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